Marketplaces/Third-Party Platforms
Marketplaces also known as third party platforms, are online businesses that are set up to allow multiple brands to sell their products on their site. You can find marketplaces for various different businesses, this post will focus on marketplaces for the fashion industry.
Marketplaces work by designers listing their garments on another businesses website. It’s like a mini website on their website. You can upload your photos your logo and descriptions about your items, so that the customers searching them can see and know what it is you are offering.
Marketplaces are good because, they allow you to get your brand in front of a wider audience. For example on your website you have your customers shopping on there. Maybe they found you on Google, maybe you gave them a business card, maybe they got a referral from a friend. However they found you, they are your direct customers.
Having customers visit your store is great, but what about if your ideal customer is shopping on another site that sells similar items that you do, but they have no idea about who you are?
This is where marketplaces come into play. They allow you to reach a wider audience, you would have not necessarily met before.
There are a wide range of online marketplaces out there. For example there is ASOS marketplace, Little Black Dress & Independent boutique to name a few. These marketplaces have different target audiences, for different types of customers.
To be on a marketplace you may have to pay a small percentage, this is usually on sales, but check the terms and conditions of that particular marketplace to get a better idea.
You should use a marketplace if you are thinking about selling online. Selling fashion online is a very competitive business and so you need to maximise your brand exposure, whilst making sure your brand fits well into the space.
Marketplaces are also good for testing your products by seeing what is selling and gaining customer feedback.
If you know of any marketplaces you can recommend, please get in touch.