Top 5 Online Marketplaces In Canada

Canada has become one of the most profitable online marketplaces in the world with an increasing number of buyers and sellers in recent years.

The Statista report reveals that nearly 28.1 million Canadians have bought products and services online in late 2019. Even, the retail eCommerce market is estimated to generate a huge revenue that can surpass 33 billion US dollars by 2024.

That’s huge!

Thus, from the figures, it is evident that the online marketplace in Canada is reaching heights.

Canadians prefer shopping from their favourite online markets and eCommerce sites. People in Canada prefer shopping from the multi-seller marketplace because of the following reasons:

• Online markets and eCommerce sites have a large product range.
• eCommerce sites have competitive pricing.
• It has free shipping and delivery at your doorstep.
• eCommerce sites have an easy ordering facility.

Sellers in Canada have started transforming their traditional businesses to eCommerce sites. The growing trend of online shopping has proved to be a profitable business in recent times.

If you are a seller in Canada, then you should prefer the following online marketplaces in Canada as your destinations:

Amazon.ca Marketplace

Amazon.ca is one of the largest marketplaces in Canada. The marketplace comes loaded with a range of perks such as access to millions of customers in North America, access to a new sales channel, building your brand value and reputation, increasing your product exposure along with secure and reliable payment systems.

eBay.ca Marketplace

It is one of the oldest marketplaces in the world and also in Canada. It helps the sellers with optimizing their listings and selling, shipping and returns, receiving payments, and evaluation of performance along with protection.

Etsy.ca Marketplace

It is one of the popular marketplaces for sellers selling handmade products. The marketplace has simple and powerful tools to manage the inventory and the power to create websites within minutes. 

It can also be done from the Etsy app from your smartphone. It helps you reach millions of shoppers using the Etsy Ads and Offsite Ads advertising tools.

BestBuy.ca Marketplace

It is one of the most popular marketplaces in Canada as well as in North America. BestBuy.ca is a powerful platform that has a simple user interface, a great API solution, and all you need to do it just complete the sign-up process. With superior technical support and trusted online payment system, BestBuy.ca is one of the top destinations for the sellers.

Newegg.ca Marketplace

Newegg.ca is one of the popular marketplaces for techno lovers. The site has the lowest commission compared to other sites in Canada. With over 20 million annual customer visits, Newegg.ca is a preferred destination for the tech sellers.

Conclusion

Choosing the perfect marketplace is not a tough job anymore and the sellers can look into the above marketplaces as per their requirements and product orientation. Each marketplace has its perks and it's up to the sellers to decide which one to go for.

Buy and Sell Websites in Canada Using Prominent Online Marketplace Canada

The way the digital economy has grown in recent times, it’s impressive, to say the least! When one thinks about making their living through the internet, the very first thing that comes to the mind is selling physical or digital products online. Mostly this is done through eCommerce activities.

Certain entrepreneurs are using an exclusive tactic to buy and sell websites in Canada. The good news is that you can definitely not only enter this game but also earn handsomely while you learn new facets. In case you have financial resources, you can buy a site that is already established and earning revenue. As a rule of thumb, it has been observed that the asking price of the site is ten times the monthly income of the site in question. In case the site is selling significantly less than that amount, you need to ask pertinent questions to the seller.

Successful web entrepreneurs create a site, make it up to the point of revenue generation, and then sell it. The revenue generated by carrying out this activity by the seller makes them put this amount in additional projects. However, if you think that it is going to be an easy task, then you are in for a real shock.

If you have an interest in buying a website, the very first thing to do is market research. If you Google with the keywords “How to buy and sell websites?” there are thousands of results available. Never take a piece of single-site information with a pinch of salt. Read through at least a few, which will help you save thousands of dollars. You may even come across an honest story of another person’s mistakes. Have a learning curve ready so that you do not make the same mistakes as others have made before while carrying out this activity.

The next step is finding out a prominent online marketplace in Canada. There are quite a few options available, like:

• Amazon.ca Marketplace 
• eBay.ca Marketplace 
• BestBuy.ca Marketplace 
• SurplusCentral.ca Marketplace

It is incredibly critical for you to choose a reputed marketplace for your buying/selling transactions. Most of the sites charge a fee to carry out an activity; however, this isn't very important, especially with the amount of revenue that you can generate while purchasing a website from established revenue sources. 

While negotiating for the purchase of a site, do not forget to check their Google Analytics account so that you can get a fair picture of the place from where the traffic is coming, the “bounce” rate, and time spent on pages of the site.

In case the site's popularity and revenue generation are solely dependent on a particular niche or specific writer, dig deep into that specific niche and access to the writer. Things might look rosy at the moment, but if you do not have the same resources, it would be not very easy to replicate the success.

As a start, websites having established paying subscribers are a safer bet than those which are dependent on the traffic from Google, social media, or affiliate sites. Get at least six months of data on traffic and revenue to take a fair call about the website in question.

Final Thoughts

Certain investments are better than others. Take proper diligence and avoid the pitfalls that first-time buyers usually fall into. That being said, there is nothing like a "sure shot thing" forever. The website that you purchase will require time, resources, and maintenance. Take a call only if you are prepared to carry out these responsibilities and maintain its relevance & quality. Otherwise, you may end up selling the site for considerably less than what you paid to get it.

Why is Multi-Vendor Marketplace the Best Idea to Boost Business?

Gone are the days when people had to visit malls or shops far miles away from home. The problem got compounded when they were not able to find their favorite dress even after window-shopping for hours. Back to the present, we see life becoming so much easier with the help of the internet. Today, everything is just a click away (To be precise only materialistic things, pun intended) and so is the help from Surplus Central.

With the advancement in technology and entrepreneurial mindset, click away option is getting much better. Wondering how? Just to understand better let’s take an example of online shopping giants like Amazon, eBay. Amazon acts as a middleman between the retailer seller and customers. This way, you can get almost everything from it. The concept on which it is working is called a multi vendor marketplace. The idea of the marketplace is benefitting thousands of retailers, manufacturers, and retailers to sell products nationally as globally.

Since every online retailer wants to grow multi-vendor marketplace is the best option available nowadays. Read below to know more about this concept.

Here are some of the reasons why you should think of opting a multi-vendor marketplace:

1) Availability of a wide range of products

Vast numbers of products are available and sold in the marketplace. It’s vast products, and a large number of vendor availability make it a favorable place as compared to a single eCommerce store. Do you really think that Amazon was able to generate so many sales if it was dealing with an individual seller?

2) Fewer expenses

One of the significant benefits of marketplace solution is that it involves less cost as every vendor would be managing his department. This leads to no requirement of extra people and thus no additional charges. You can include the administrative team in answering the marketing-related query and for low website maintenance, hire the services of the experienced development team.

3) Easy inventory management

Two main important costs to be considered in eCommerce business are human resource management and warehouse cost. However, the marketplace helps you to cut down these major costs as vendors will take care of their inventories and complications related to them. So this again motivates us to choose the marketplace business model.

4) Owner of customer relationship data

Customer relationship data is a very precious asset and having marketplace allows you to be the owner of such data. You can use the data of the customer’s preference to serve them in a much better way and hence can retain them.

5) Survival is not difficult

The taste and needs of the audience are subjected to constant change. In the eCommerce business, you have to either stay ahead of change or else the demand for the product will fade away. But the marketplace gives leverage to study the navigation and shift in preference, which helps to forecast well in advance. Even you can do experiments with different strategies and can decode the mystery.

Conclusion

With the Surplus Central, you can make a great difference and can grab your share of the market. With the multi vendor marketplace, you can offer more merchants, more products and more choices to the customers.