Are you an online seller eager to expand your business into new markets? Platforms like Amazon, eBay and Etsy are known all over the world, but in this article, we will focus on key international marketplaces you may not have your eye on, that could help take your business to the next level.
Monthly Visits: 575.8M
Rakuten Ichiba serves the Japanese eCommerce market, and it is currently the fourth biggest marketplace worldwide. Despite its modest population, compared to China or the U.S., Japan’s population has truly embraced the world of online shopping. This translates to over 575 million visits a month from over 100 million shoppers.
Rakuten dominates the online market in Japan, accounting for 26.8 percent of the country’s entire eCommerce market share and, with less than 50,000 shops on the marketplace, this presents a great option for sellers looking to expand globally.
Coupang (South Korea)
Monthly Visits: 65.6M
Korea is the second-fastest-growing eCommerce market in the world, with Coupang having a large market share of this consumer base. Founded in 2010, Coupang, informally known as the “Amazon of South Korea”, provides ample selling opportunities to a country with 99.2 percent of households having internet access.
The marketplace provides a dedicated team of multilingual support staff, allowing for sellers to experience a smooth entrance into a new market. Coupang is working hard to innovate and grow alongside South Korea’s exciting eCommerce market and there is only one question left to answer: if you’re a global seller and you’re not in Korea, what’s stopping you?
Mercado Libre (Latin America)
Monthly Visits: 683.9M
Known for its bright carnivals and stylish soccer, South America is an eCommerce region that your business could score in. For the first time in 2010, Asia-Pacific’s eCommerce growth was surpassed by Latin America. The region saw a sales growth year-on-year of 36.7 percent, and Mercado Libre is not only the largest online marketplace in South America but the third biggest in the world, with over 683 million visits per month.
Setting up a seller account on the site takes no more than 10 minutes, making your speed to the South American market almost instantaneous.
Monthly Visits: 176.9M
Founded in 2007, Flipkart is home to over 200 million registered users and it is India’s largest online retailer, with a 31.9 percent market share. The eCommerce retail share in India is only 7 percent, however, in a population of 1.2 billion, the opportunity for platform growth is unrivaled. Entering the Indian eCommerce market at this stage could be a smart business strategy for the smaller seller hoping to invest in an emerging marketplace.
Monthly Visits: 206.2M
Turkey may not be the first market a U.S.-based seller thinks of targeting. However, the cultural hub of Turkey had a projected eCommerce spend of $16 billion in 2021.
Choosing Trendyol as a selling platform means you will be joining over 98,000 businesses that sold over 347 million products in 2020 alone. Trendyol has a consumer base of mostly young users, gaining younger eCommerce customers can prove invaluable to your business over a long period due to brand loyalty.
Monthly Visits: 140.1M
Tokopedia is the third Asia-Pacific marketplace mentioned on the list, but it stands out from the crowd. The mantra of the company is ‘democratizing eCommerce’, and with 99 percent of Indonesian districts reached, the platform receives 137 million monthly visits. To add, over 86 percent of merchants are new entrepreneurs, and with the lack of experienced sellers, the opportunity to get ahead and cement your business as a major player is increased.
Monthly Visits: 190.2M
Poland is an emerging eCommerce market, but Allegro is not a newcomer to the industry, being the 12th biggest online marketplace in the world in 2021. The Polish market caters to international sellers, with internet users buying from foreign e-stores doubling from 16 percent in 2017 to 32 percent in 2021. The market is perfect for the niche American e-seller to enter and grow, but it is especially crucial for small vendors to work with a growth partner to ensure payments are transparent and that revenue isn’t wasted on unnecessary fees.
PingPong Payments acts as a payments provider and growth partner to sellers wanting to expand into new international markets. PingPong allows merchants to build trusting relationships with suppliers, as payments can be made in real-time and in local currencies. Your business can reduce foreign exchange fees and surcharges inflicted by traditional banks, reinvesting additional funds back into your business.