Sell your product on your own website or the third party?
Many newbies online sellers have a question in their mind, should they sell on their own website or they should sell through a third party marketplace site like Amazon, Etsy, eBay or Flipkart etc.
Well, it is not possible to give you the answer in few words. To give you the answer I am going to tell you about the benefits and drawbacks of selling products online for both using third-party marketplace and by starting your own eCommerce website.
Selling your product on your own website
Do you think that selling products on your own website is worth? Well, there are some benefits if you sell your products on your own website. But also, there are some drawbacks that you will find.
In case of selling products on some third-party websites like Amazon, Etsy will charge on each sale you made. They will take some charge as commission. So obviously, if you start selling on your own website, then you will earn some extra money. All the money will be yours and you don’t have to pay anyone.
After reading the above content, most probably you are thinking that you should sell your products on your own website. But wait, there is another thing that you need to know.
The online marketplace like Amazon, Flipkart, eBay, Etsy etc is such brands where peoples trust and most of the people does not like to buy products from any other websites with which they are not familiar so much.
Suppose you want to but a smartphone and you want to order it through online. Most probably, you will like to buy a smartphone from one of the popular marketplace eCommerce sites like Amazon. If you think yourself as a buyer then you will find the same thing.
But don’t worry. There are some strategies that you can adapt to create your brands and collect the trust from people. At the time of starter, you can keep the price of products on your site low. If some people start buying products for the cheaper price of your products, then after they get the product on time you will start gaining their trust. With this process, you will start to represent your eCommerce site as a brand.
Selling your products on a third party marketplace site
Now, what about to selling your products on a third party marketplace eCommerce website? I have already discussed that selling product on a third party marketplace eCommerce site will deduct a commission charge from each sale you made on their site. So that is clear, you have to pay a portion of your earning on the marketplace site.
In this view, many newbies think that it is a better plan to sell their product on their own website and they should start their own eCommerce site for this. Well, there are lots of popular brands are selling their product on third-party websites like Amazon, eBay, Etsy etc. So are those brands are dull? Do you think they are not aware of this fact that the money they will earn will be deducted by the third party marketplace as commission charge?
If not, then why they are selling product on those third party marketplace site? They can start their own eCommerce site and they can sell there without paying any commission for their sale.
But why they are selling their product on these third-party marketplace sites?
The question may occur to many newbies. Well, I have already informed you in this post that people always like to buy products from popular eCommerce brands as these eCommerce sites are popular and trusted to them. Even you and I will also do the same thing. I have already told you the example of buying your smartphone.
So it will take a long time to brand and get popularity for your own eCommerce website. But if you sell products on some popular marketplace sites like Amazon, then it will not take so much time to make a sale. The third party marketplace site will take the responsibility.
So where to sell your own products?
Obviously. it is clear that you need to choose different strategies for these two methods of selling products. It is easy to sell on third-party eCommerce marketplace like Amazon and there you will able to make the instant sale. But you will not be able to make represent you as an online seller.
But with an eCommerce site, you can represent an online store and after you get trust from people you will be able to represent your site as a brand.
From the content I have discussed above, it is clear that both of these methods have their own drawbacks and advantages. Starting your own eCommerce site is a slower process to reach to a stats where you can make sufficient, whereas you can sell instantly with the third party marketplaces. But the marketplace will take a commission or may charge you for their services.
At the end, I want to give you the right suggestion. It will be better if you start selling from a third party website like Amazon or Flipkart. After you start a sufficient money you can start your own eCommerce site. You can run both the process of selling your products. After you represent your online store as a brand and your site get popularity, you will be able to start earning sufficient amount of money from your own eCommerce site.
Well, there are lots of online brands who are selling their products on their own eCommerce site and also on well-known third-party marketplace site. You can do the same thing. You can sell on both of your own website and on the third-party marketplace.
I hope you have understood what should you do now. I also wish you best of luck. Right decision can help you to to get success in your business.