Whether you’re selling your own products, buying wholesale goods for resale or sourcing components for your enterprise, sourcing and procuring goods online gives you access to new markets, new suppliers, and a much wider choice of merchandise. For businesses that have previously been confined to trading in local markets, access to online marketplaces can open up new worlds of opportunity.
So, what are the top benefits of transacting online? We chose the top four ways in which buying and selling online — as an addition to the traditional ways of trading in person — can help make your business more competitive.
1. It gives you access to a much larger market
Regardless of whether you’re buying or selling goods, using an ecommerce platform gives you access to a much larger market than before. If you’re selling, you now have access to millions of business buyers in markets all over the world, right at your fingertips.
By the same token, if you’re buying you can look for goods available at a better price, a higher quality, or simply a more bespoke specification than you’re able to find locally. This helps you improve profit margins, enter new niches, and offer a more tailored service.
It is little wonder that one World Bank study found that participating in e-commerce helps boost incomes by up to 80% [1].
2. Your transactions are safe and secure
As long as you work with a reputable e-commerce platform like DUBUY.com, trading online can give you a higher level of security and assurance than trading in-person, which often relies on cash handling and payments. A reputable e-commerce marketplace will enforce standards on buyers and sellers. So, you can purchase for your business in the knowledge that you will receive genuine products — greatly reducing the risk of counterfeit goods, for instance — of known and documented origin. The payment itself will be secured and traceable. DUBUY.com even offers escrow-like services, holding a payment in trust until the goods have been delivered: giving both buyers and sellers, who may be transacting with each other for the first time, peace of mind.
3. It reduces costs and helps you save time
A good e-commerce marketplace has access to a far wider range of stock than most local wholesalers. Its systems are also set up to facilitate rapid transactions. This means you don’t have to order in advance, based on what you anticipate demand will be over a longer period of time. You can order frequently, to cover your activities over shorter periods of time. This is possible because a good e-commerce marketplace will process your transactions quickly and get the goods to you efficiently. That means less inventory on site, reducing security risks, and less cash sunk in goods that may sell but could end up sitting on a shelf.
4. It helps communities prosper
According to research cited by Google, a 10% increase in the use of digital services, including e-commerce, helps to increase a country’s GDP by 2.5% [2]. As businesses go online, they take their customers, staff and communities with them. This helps to increase the rates of trade within and between communities, boosting economic activity and helping businesses and communities grow and prosper. Effects such as access to wider marketplaces and reduced transaction costs help enterprises and individuals increase profits and cut costs, giving them money to invest in themselves and their communities.
Trading goods online doesn’t replace the traditional networks of buyers and sellers. It complements them with new ways of cutting costs, increasing choice, and getting products and services to market faster. It’s a great way to find new markets and new opportunities.
And with DUBUY.com, it couldn’t be easier. To get started, you don’t need to build your own online store. You simply register as a DUBUY.com seller here or buyer here and our team of experts will guide you every step of the way to get started.
1. https://www.worldbank.org/en/news/press-release/2019/11/23/e-commerce-can-boost-job-creation-and-inclusive-growth-in-developing-countries
2. https://www.ifc.org/wps/wcm/connect/publications_ext_content/ifc_external_publication_site/publications_listing_page/google-e-conomy
