Marketplace or own website – where should you sell your products?

If you are a budding entrepreneur, you have been there – confused and dazed! Navigating the E-commerce Crossroads, entrepreneurs find themselves torn between the bustling marketplace’s alluring promises and the beckoning call of autonomy on their own digital domain. Balancing visibility and control, the choice dances amidst profits and brand identity, leaving them at the crossroads of opportunity and indecision.

Deciding whether to sell on your own website or on a marketplace depends on various factors, and both options have their pros and cons. Here are some points to consider:

Selling on your own website:
Pros:

1. Control: With your own website, you have full control over the branding, design, and customer experience.
2. Flexibility: You can customize your website’s features, layout, and functionality according to your specific business needs.
3. Customer data and relationship: Selling through your own website allows you to directly interact with customers, build relationships, and collect valuable customer data for marketing and future sales.
4. Higher profit margins: Selling on your own website typically involves lower fees or commissions compared to marketplaces, potentially leading to higher profit margins.

Cons:

1. Marketing and traffic generation: You’ll be responsible for driving traffic to your website, which requires effective marketing strategies and ongoing efforts to build brand awareness.
2. Initial investment and maintenance: Setting up and maintaining an e-commerce website involves costs such as domain registration, hosting, website development, and ongoing maintenance.
3. Building trust and credibility: As an independent seller, you may need to invest additional time and resources to establish trust and credibility with potential customers who may be unfamiliar with your brand.

Selling on a marketplace: The biggies like Amazon, Flikart, Myntra, Nykaa and many more
Pros:

1. Established customer base: Marketplaces often have a large existing customer base, providing you with access to a broader audience and potential customers.
2. Visibility and exposure: Marketplaces invest in marketing and have high website traffic, which can increase your product’s visibility and exposure to a larger audience.
3. Infrastructure and support: Marketplaces handle the technical aspects, including hosting, security, and payment processing, saving you time and resources.
4. Trust and reputation: Being associated with a well-known and trusted marketplace can provide credibility and trust to potential customers.

Cons:

1. Competition: Marketplaces can be highly competitive, with numerous sellers offering similar products, which may make it challenging to stand out.
2. Fees and commissions: Marketplaces usually charge fees and commissions on each sale, which can impact your profit margins.
3. Limited control and branding: Marketplaces often have restrictions on branding, design, and customization options, limiting your ability to create a unique brand experience.

At De Solitaire, we have decided to be available for our customers where-ever they require us to be and hence we are available at both marketplace and own website.

Ultimately, the decision depends on your business goals, resources, and marketing capabilities. Many businesses find success by adopting a multi-channel approach, selling on their own website while also leveraging the exposure and customer base provided by marketplaces.