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The Advantages And Disadvantages Of Online Business In The Marketplace

Life For Techno - The Advantages And Disadvantages Of Online Business In The Marketplace, maybe it is familiar to people who do business online in the marketplace, marketplace also has a more specific term and has many meanings, especially in business, for example; simple place of sellers of the same product and buyers of the same interests. Where sellers and buyers meet like a normal market.

Regardless of the term used, currently one of the marketplaces with the most transaction activity is the online marketplace. Lots of people are looking for products in the marketplace because it's easy and also simple.

Through the marketplace platform, you don't need to rent a place to open your shop. Before opening a business kiosk on the marketplace, you also need to look at the advantages and disadvantages of doing business through platforms and marketplaces.

Marketplace advantages

The Advantages And Disadvantages Of Online Business In The Marketplace

a. Greater Opportunity Through Community

Marketpace can also be said as a place for all products to be sold. Doing business online on your platform can create greater opportunities by forming relationships with other sellers through the community. You can share knowledge, share opportunities, and work together to build new opportunities.

Read : How To Run An Online Business To Generate Maximum Profits

b. The consumer is always there

Through the platform it is easier to find consumers. Every day the online platform is visited by millions of people. And looking at the results of the iPrice report taken from Databoks, in the third quarter of 2019 the online platform in Indonesia had more than 66 million users. Thanks to this, online sales in Indonesia are huge. With this, it is easier for consumers to motivate the goods to be purchased.

Automatically, your business is promoted by the marketplace. So you don't need to be complicated to promote your product. Usually online marketplaces are trusted by consumers, so you also don't need to build consumer trust.

In addition, the easy access provided by online managers makes it easier for consumers to continue to reach your store. Consumers can easily find products in any place.

c. Good Online Marketplace Features and Regulations

people who have a marketplace company, of course, already have features that can increase the security of your store. One of the features that you get is insurance, payment integration, promotions, joint accounts, and store verification as a form of appreciation from the online marketplace company.

With the features that the marketplace has, it can also increase the attractiveness of consumers to buy your product in the midst of intense competition.

d. No Need Big Capital

Unlike the case with the offline marketplace, by going through the platform there is no need to pay at all. Several integrated online marketplaces usually charge a "rental" fee, but not as much as the cost of renting a place such as a shop or field. However, free online marketplaces such as Facebook groups, online buying and selling forums, you don't need any fees at all.

e. You can Monitor Your Business Development

Some online marketplace managers usually have insight features. With the Insight feature we can monitor the people who visit your store, the number of people who respond, the number of people who communicate and the number of people who buy your products.

With you can monitor business developments, you can evaluate products, marketing strategies, or even find out the effectiveness and performance of online marketplace managers.

Lack of Marketplace

a. Difficult to Get Trust

One of the disadvantages of online markerplace is that it can be difficult to get trust. Online selling has long been known for scamming, scams, and also illegal goods. Especially in the online marketplace, what's more, you will compete with unscrupulous sellers. Even your product has the possibility to be imitated.

b. High Competition Between Traders

Because online platforms have many customers and have a tendency to sell the same products, competition between traders in the online marketplace is very high. You have to compete for selling points. Tips for selling online marketplaces, you must be diligent in watching the market and differentiating products with other sellers. You can use the free shipping feature on the platform.

c. Depends on the Online Marketplace Manager

The continuity of your business really depends on the marketplace manager. If the manager has a clear reputation, is overwhelmed with promotion, and doesn't have good regulations. Therefore it can affect business continuity. It all depends on the marketplace owner.

d. Sporadic

What is included in the shortcomings of the online marketplace business is the unfavorable market condition. If you are selling in a diverse marketplace, you will be difficult to find for consumers. That is because the marketplace manager will not create a shop. A marketplace that has a variety of products that can make it difficult for buyers to find their products. Buyers will search with keywords so that it is even easier.

From its convenience and advantages, many business people ask to sell through the online marketplace platform. Because in this modern era, many people will no longer invest part of their capital, namely to select and buy goods. Currently, people prioritize accessibility in choosing products.

The online marketplace isn't just about products either. As it was said at the beginning of the article, the marketplace itself currently has a variety of meanings. Marketplace can be in the form of buying and selling of services; namely designers, employees, and also experts. So if you do have a service provision business, you can join a similar online marketplace.

Read : How To Implement The Sales Funnel In Online Business

Start Your Online Marketplace Business with Financial Software

To make it easier for you to manage your business online, you need software that can help manage finances, transactions, and monitor your business profit and loss. For financial management, you can easily record the results of selling the marketplace using the Journal.

With the Journal online accounting software, you can more easily find out how much income and expenses you have made. In Journal, you can also create financial reports easily, quickly, safely and conveniently. You only need to record all business transactions, the journal will automatically provide financial reports instantly. Click here to see various interesting features of the Journal.

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