Buying and selling stuff online is the same as a typical garage sale in the neighborhood. Except, one doesn’t need to go outside and move piles of stuff from the garage to sell it. Social marketplace apps help millions of people to find, purchase, and sell items much faster. Just take a pic of an item, post it, and get a buyer in a matter of hours or even minutes.
The apps like eBay, Letgo, or Etsy provide small businesses with a great opportunity to grow and earn money. Many startups find selling on these platforms more beneficial and simpler than starting a separate online store for their products. For instance, within the Letgo business model, car dealers can buy a subscription and stop searching for clients themselves. The platform takes care of lead generation, while sellers focus on deals. Considering that marketplace apps are highly popular with entrepreneurs, we made a list of the five most successful to let you know where you can sell stuff and develop your business efficiently.
Top 5 Apps for Selling Stuff Online
Our list includes the five best apps for selling stuff in 2020. Every platform on the list has a unique history and distinctive features, which made it perfect to fit in. Now, let’s have a closer look at these stories and characteristics.
Since 2015, Letgo has gained vast popularity in the US. It was created by the former CEO of OLX – a successful Spanish startup. Besides creating traditional listings, sellers can also make and add videos to show their items from all angles. With AI features, users can find out the average price of an item all over the platform by pointing the phone camera on it. Letgo is a location-based app, and when users open it for the first time, they see the stuff available only in their city and within their living area. The company’s policy encourages people to meet face-to-face, so users can’t seek goods from any other location except for their living area.
eBay has been on the market since 1995. It was eBay that started an online auction “boom”, and now it’s one of the largest and most successful marketplaces in the world. This platform allows users to make both local and international deals, while Letgo encourages buying and selling only within a specific area. Like any successful company, eBay benefits from data science implementations. AI helps the company improve user experience and search, ensure individual offers, and gather analytics to make its platform even better.
OfferUp stands out from other marketplaces by focusing on the mobile experience. The idea behind OfferUp is to ensure successful deals for both sellers and buyers within minutes. The company also focuses on user safety on and out of the platform. It has partnerships with local police departments that monitor the places set specially for in-person meetups. As for in-app security, OfferUp has features for identity verification, specifying buyers’ and sellers’ reputation, anonymous messaging, etc. and largely promotes its protection policies. As of 2019, the OfferUp app gained 80 million downloads in app stores and served 44 million active users.
In 2005, all antique lovers got an opportunity to sell and buy old goods online. Etsy focuses on handmade materials as well as vintage, limited, and rare products. The items include artwork, photography, jewelry, food, cosmetics, toys, and so forth. Anyone can sell and buy materials for handmade, such as beads, needles, yarn, etc. A product must be at least 20 years old to be marketable on the platform. In 2018, the popularity of Etsy was at the peak, and it’s still high since then. The company is expanding and starts covering other areas – recently, Etsy has bought the Reverb music marketplace.
Facebook Marketplace was first introduced in 2007. It was a platform for posting jobs and items for sale, including houses. The marketplace wasn’t as popular as expected, so it was closed in 2014. In 2016, the platform was reborn because of the growing number of the “buy and sell” pages on Facebook started to appear. Similarly to Letgo, Facebook Marketplace encourages transactions only within the local community of a buyer or seller. As of 2019, more than 800 million users from 70 countries search, buy, and sell items via Facebook Marketplace.
More and more fast-growing businesses choose to settle down on marketplace platforms, but sometimes they don’t know which one to cover. Some of them tend to work with several platforms to get more sales and a higher profit. This can be an efficient strategy if all they invest all their time and effort in selling on marketplace apps. When choosing a platform, consider your target audience and compare all advantages offered by a specific app. eBay and Facebook Marketplace would be an all-in-one solution for any business because of their great and diverse audience. Etsy would be the choice for antique sellers. Letgo and OfferUp are efficient for face-to-face deals.