It is no longer news that more people are shopping online, considering the benefits of it. One of which is the opportunity of buying products which are not locally available. I've had to ship products using courier services and also waybills to other parts of the country. The most recent is shipping a Giorgio Armani Si perfume to Port Harcourt.

To meet the growing need for online shopping, Ecommerce sites keep springing up on a daily basis, each with its own business model. The 2 prominent that comes to mind are marketplace and retail stores. Both are similar in the way they service the buyers, but different in their operations.

For the sellers, popularly known as the merchants, you can choose either of these 2 business models. I'm aware that Konga runs both, but most are only familiar with their marketplace. For Jumia, there seems to be plans to modify some or all its operations in its retail store.

As an intending or existing merchant, you'll need a model that adequately meets your expectations. Let's consider both of them

Selling on Online Marketplaces

A marketplace is basically where buyers and sellers meet in order to exchange products and services for money. Before the advent of online shopping, we were familiar with markets like Oshodi, Idumota, Ariara etc. The internet has made it possible to design avenues where most activities particular to those markets can equally take place.

The marketplace online is an Ecommerce model where an organization puts up a store, and allows other merchants to register and then sell their products and services, while earning commission on each sale. examples are Konga, kaymu and Dealdey. Lately, Konga has being toying with having merchants pay a monthly fee for selling on their marketplace. Reason given is that its a means of weeding out unserious merchants.

As a merchant, you sign up free. Some carry out some form of verification process, after which you're free to start selling on the platforms. You do not need to understand how operations are carried out, yours is to make sure that you have the exact items you have uploaded on your store.

Advantages of selling on this platform is that the business start up cost for you the merchant is very minimal, almost negligible. You only need to have stock of the items you're selling. And if you're like me, you can also run the modified drop shipping method I disclosed in my earlier thread.

You do not need much technical or IT skills as the major work done is uploading your products. You just need to know how to navigate around the merchant dashboard, and how to resize your product images to suit the different platforms' specifications. This gives you maximum time to focus on sourcing your products, and for those platforms that allow self fulfillment, the time to delivery your products to your buyers.

Marketing of your products are done by the owners of the platforms, so you do not need to invest in online advertising. Another way of saving cost.

This model is very attractive to the merchant in terms of cost, which are largely borne by the platform owners. The only way through which bottom line can be significantly affected is if the merchant keeps getting returned and cancelled orders, and most cases results in damaged packaging of products because of poor handling.

So how much does it cost to start selling on this platform? As much as you have to buy your products. Be sure you can purchase them at lower prices so you can mark up for your profits.

DealFinder:
It is no longer news that more people are shopping online, considering the benefits of it. One of which is the opportunity of buying products which are not locally available. I've had to ship products using courier services and also waybills to other parts of the country. The most recent is shipping a Giorgio Armani Si perfume to Port Harcourt.

To meet the growing need for online shopping, Ecommerce sites keep springing up on a daily basis, each with its own business model. The 2 prominent that comes to mind are marketplace and retail stores. Both are similar in the way they service the buyers, but different in their operations.

For the sellers, popularly known as the merchants, you can choose either of these 2 business models. I'm aware that Konga runs both, but most are only familiar with their marketplace. For Jumia, there seems to be plans to modify some or all its operations in its retail store.

As an intending or existing merchant, you'll need a model that adequately meets your expectations. Let's consider both of them

Selling on Online Marketplaces

A marketplace is basically where buyers and sellers meet in order to exchange products and services for money. Before the advent of online shopping, we were familiar with markets like Oshodi, Idumota, Ariara etc. The internet has made it possible to design avenues where most activities particular to those markets can equally take place.

The marketplace online is an Ecommerce model where an organization puts up a store, and allows other merchants to register and then sell their products and services, while earning commission on each sale. examples are Konga, kaymu and Dealdey. Lately, Konga has being toying with having merchants pay a monthly fee for selling on their marketplace. Reason given is that its a means of weeding out unserious merchants.

As a merchant, you sign up free. Some carry out some form of verification process, after which you're free to start selling on the platforms. You do not need to understand how operations are carried out, yours is to make sure that you have the exact items you have uploaded on your store.

Advantages of selling on this platform is that the business start up cost for you the merchant is very minimal, almost negligible. You only need to have stock of the items you're selling. And if you're like me, you can also run the modified drop shipping method I disclosed in my earlier thread.

You do not need much technical or IT skills as the major work done is uploading your products. You just need to know how to navigate around the merchant dashboard, and how to resize your product images to suit the different platforms' specifications. This gives you maximum time to focus on sourcing your products, and for those platforms that allow self fulfillment, the time to delivery your products to your buyers.

Marketing of your products are done by the owners of the platforms, so you do not need to invest in online advertising. Another way of saving cost.

This model is very attractive to the merchant in terms of cost, which are largely borne by the platform owners. The only way through which bottom line can be significantly affected is if the merchant keeps getting returned and cancelled orders, and most cases results in damaged packaging of products because of poor handling.

So how much does it cost to start selling on this platform? As much as you have to buy your products. Be sure you can purchase them at lower prices so you can mark up for your profits.

thanks man.

very reasonable post

when I read 'your own online retail store' I was expecting a comparison of marketplaces vs yourname dot coms.

seems marketplaces are the winners any day though.

EnterPRO:
when I read 'your own online retail store' I was expecting a comparison of marketplaces vs yourname dot coms.

seems marketplaces are the winners any day though.

That's actually the purpose of this thread. To weigh the pros and cons.

The remaining parts will contain the rest.

DISADVANTAGES OF SELLING ON ONLINE MARKETPLACES

The advantages of registering on online marketplaces being run by another organization is enormous. For one, it's a very convenient way to start up your online business. You only need to have the products or services you intend to sell, every other aspect of the business - customer care, marketing and advertising, delivery, operations etc will be handled by your 'hosts'.

The major disadvantage in using this business model is that you have to be subjected to the policies (rules and regulations) of these platforms. While these policies are designed improve the positioning of their platforms, in some cases the merchants are adversely affected by them. It's on record that most of the newly introduced policies by these online market places has resulted in reduction of sellers on their platforms.

This can only mean one thing - they were less favourable to the sellers. A lot of sellers are familiar with what I'm talking about as they've being affected by these policy changes. You should read the rules properly, and be sure that you can meet up with their conditions. I got a call from one of my account officers about a prospective store front to sign up for. After detailing what the benefits were, he said it would cost me N10,000 to register on this store front.

Another online store which most of us are familiar with has decided to charge a monthly fee of N2,500 for selling on their platform. Which used to be free. Don't get me wrong, these policies are designed to make the platforms more competitive, but as a merchant on them, you need decide if they're rules that you can convenient abide by.

Selling on your own retail store

This option is for the experienced hands, or those who are very adventurous. Reason being that it requires a lot of resources to turn this business model into a success. Here, you handle virtually every aspect of your online business ranging from store design, hosting, administration, operations, logistics, inventory, marketing etc.

In actual fact, you run the show. You're not subject to the rules and regulations of any marketplace. And if you so wish, you can even create your own marketplace where other merchants can register on your platform.

Advantage of this is the total liberty you have over what to sell, and how to sell. You don't have to wait 7 days, or even a month before the money received for your item gets to you. If you own the logistics outfit, you can get paid same day your products are delivered.

The big setback to this model is the huge financial outlay involved. Cause you'll be spending much for skilled individuals to work on the project, warehouse in case you'll be having inventory, delivery vehicles, advertisements etc. My advice is that you don't go into this business simply because others are doing it. You'll definitely get your fingers burnt. Do your research thoroughly to determine if there's a much more convenient way of going about it.

Certain aspects of the business can be outsourced, just like some online stores have adopted. This is the trade-off between control and cost.

The ultimate goal of every online merchant is to own their own online store so that operations can be easily scaled to tap into the thriving Ecommerce business

[size=1pt]Ymodulus, Chrisvicmall, onlineresource, ElMatteo(m), dav8id(m), tutucious(f), Yoney007(f), tyconcepts(f)[/size]

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after reading this post i can autoritatively say the post was great to read from page to page and by the way do you know that its now easier to sell on jumia and konga now even if you are not in lagos or if you are the busy type. mukabox NIGERIA (http://mukabox.com.ng) can help you automate your eCommerce business without stress.

so if you have been discouraged because you are not in lagos or due to your work schedule, you dont have to be anymore. you can just hit the website and then you contact them and bravo you are back in business

Mukaboxng can also help you open your jumia and konga store if you dont know how to go about it

Well. What if there was a way to retain the advantage of not having to make your own website, but remove the disadvantage of your brand being swallowed by the marketplace or retaining your customers?
www.zoafia.com gives you a website for your shop, helps promote your brand and it costs only N1200 a month to set up.

I've always argued that having an online shop on konga or jumia will garner more sales for an entrepreneur thinking of doing it all alone, excellent post op. I read a similar article on growing your ecomerce brand and core elements for a product page, find link below: https://wsiaxon.com/11-core-elements-needed-increase-ecommerce-sales/

DealFinder:
Selling on your own retail store

This option is for the experienced hands, or those who are very adventurous. Reason being that it requires a lot of resources to turn this business model into a success. Here, you handle virtually every aspect of your online business ranging from store design, hosting, administration, operations, logistics, inventory, marketing etc.

In actual fact, you run the show. You're not subject to the rules and regulations of any marketplace. And if you so wish, you can even create your own marketplace where other merchants can register on your platform.

Advantage of this is the total liberty you have over what to sell, and how to sell. You don't have to wait 7 days, or even a month before the money received for your item gets to you. If you own the logistics outfit, you can get paid same day your products are delivered.

The big setback to this model is the huge financial outlay involved. Cause you'll be spending much for skilled individuals to work on the project, warehouse in case you'll be having inventory, delivery vehicles, advertisements etc. My advice is that you don't go into this business simply because others are doing it. You'll definitely get your fingers burnt. Do your research thoroughly to determine if there's a much more convenient way of going about it.

Certain aspects of the business can be outsourced, just like some online stores have adopted. This is the trade-off between control and cost.

The ultimate goal of every online merchant is to own their own online store so that operations can be easily scaled to tap into the thriving Ecommerce business

The advantages of selling on a marketplace outweighs selling on your own online store especially in the area of marketing. However a wise choice will be to use the two models. One can have an online store and still sell on an online marketplace.
Entrepreneurs should try out www.buzymart.com, an online marketplace for made-in-nigeria in nigeria products.

Online marketplace truly outweighs selling on your own site abeg.

See www.kfselling.com

Okay... .if you are interested in making money online legitimately by sharing a post on your facebook timeline ,reading and commenting on news on a site.... Note. You only get paid monthly... Message me on Aprildov@gmail.com to put you through on the registration process

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To be candid, I never thought u were legit cos of scammers everywhere


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Let me tell you this if u have any business you are running.

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You are missing enough!!!

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IMAGING, over 1,000 people visited your website and they all left within 20 seconds without buying or take any good action.
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READ THIS They don’t buy your offer did not mean they don’t need your offer.

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It mean you can automated following up those 1,000 people with your email or Whatsapp swipe even when you are not there for 5,7,10days

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