Online marketplaces are a popular way for businesses to sell their products. Bol.com is the largest online marketplace in the Netherlands, and it can be both beneficial and detrimental, depending on what you want to sell as a business! Here we discuss some of these advantages, along with some disadvantages that may also come up when selling through an e-commerce website like this one.
Benefits of selling on an online marketplace like Bol.com
You elevator on brand awareness
The Bol.com marketplace is one of the most popular online shopping destinations in the Netherlands, and for good reason! It is easy to find with an established reputation and with a large client base already built up from years of operation.
The webshop feels familiar
Because Marketplaces are very well-known, they are considered trusted by visitors.Often, many people have ordered from the marketplace before. As a result, the chances of conversion are much higher, for example, than on a website of a just starting entrepreneur.
No monthly fees
If you want to start on a marketplace, there are no start-up costs. The only cost involved is commission, so it’s a snap and will boost your sales in no time!
Disadvantages of selling on an online marketplace like Bol.com
You pay commission and shipping costs
At Bol.com, you pay commission because you are riding on their name recognition. In addition to commission, shipping costs are also their own responsibility, as Bol.com guarantees free shipping to its customers. That makes selling products expensive on Bol.com.
You could rectify this cost by raising the price, but competition on Bol.com is very high. This can cause customers to buy their products from competitors.
You don’t build customer relationships
Because the purchase is completed on Bol.com, they gain more customer trust. In addition, you do not build a customer database through bol.com because bol.com does not release customer e-mail addresses. As a result, it is not possible to send customers actions via mail.
You are competing with yourself
If you have your own webshop in addition to Bol.com, there is a chance that you will be competing with yourself. If Bol.com ranks higher in search results, your own website falls away. As a result, you are losing profit because selling through Bol.com is more expensive than selling through your own web shop.
High number of returns
Because Bol.com guarantees a 30-day cooling-off period and due to an unexplained reason, the returns are high, the likelihood of people returning the product is high. These are costs that you also have to account for yourself, this causes the costs to rise.
Bol.com is an online marketplace that has many advantages for businesses looking to sell their products. However, there are also disadvantages to be aware of when selling on the website. The pros and cons of bol.com should help you decide whether or not this would be a good decision for your business!
Want to know more? Or would you like to know how we can grow your brand? Contact us www.croudx.com or email us!