The amount of e-commerce being done globally has dramatically increased as a result of the expansion of online marketplaces.

Global eCommerce sales are anticipated to reach $8.1 trillion by 2026, according to Statista's study.

According to data from the Pew Research Center, almost 80% of Americans purchase online, and 15% do so on a regular basis.

With more than 350 million items available for purchase on their site, online marketplaces like Amazon have become household brands. Learn more about four online marketplaces that are similar to Amazon and how they are shaping the future of online marketplaces by reading on.

Next to Amazon and eBay, Rakuten is the largest worldwide online marketplace and the largest eCommerce platform in Japan.

Hiroshi Mikitani, a multibillionaire businessman and author from Japan, founded Rakuten in 1997 as a little eCommerce site.

Rakuten has a 26.8% market share of Japan's eCommerce market, which is home to the third-largest economy in the world.

Rakuten, known as the Amazon of Japan, is among Forbes' Top 100 Digital Companies and has operations in 30 different nations and regions.

The website has expanded since its inception into a global online marketplace with 1.6 billion users. Wow!

Three sections make up Rakuten eCommerce: Rakuten Global, an online store for overseas clients; Rakuten, which handles domestic online shopping; and Rakuten Slice, a service that analyses online purchase data for Americans.

Rakuten is an invitation-only marketplace, therefore vendors must be approved before they may sell there.

In order to sell on Rakuten's marketplace, sellers from the US or Japan can submit their applications directly to Rakuten.

Both countries would require sellers to employ a third-party service.

For instance, UK-based vendors must get in touch with the partner IAB.com, who will manage the creation, administration, and operations of their store.

Rakuten reviews each application between 3 and 10 business days after it is filed.

Sellers in the US and Japan can start manually uploading their inventory once they have received approval.

The assistance of a third-party service provider is required for those who are located outside of the US or Japan to upload inventory.

Rakuten uses three different kinds of seller fees: an Individual Listing Fee of $0.99, a Monthly Account Fee of $39, and a Commission Fee that varies between 10% and 15%, depending on the sort of goods sold.

For their online stores, sellers are able to design and personalize their own shipping and return policies.

Depending on their shipping and packaging requirements, they can either select one of Rakuten's suggested shipping partners or make their own selection.

Looking to go beyond Amazon? Consider Rakuten!

Alibaba is a Chinese business-to-business eCommerce supplier that was established in 1999 by Chinese business entrepreneur, philanthropist, and investor Jack Ma and seventeen other prominent businessmen and women.

The largest eCommerce market in the world, with over $2 trillion in sales in 2022, is China.

Alibaba has a 47.1% market share in China's e-commerce business.

The combination of live streaming, electronic payments, and eCommerce services on one platform has contributed to this success in part.

Viewers can make purchases, for instance, through links displayed during the live feeds. Depending on their shipping and packaging requirements, they can either select one of Rakuten's suggested shipping partners or make their own selection.

Looking to go beyond Amazon? Consider Rakuten!

Alibaba is a Chinese business-to-business eCommerce supplier that was established in 1999 by Chinese business entrepreneur, philanthropist, and investor Jack Ma and seventeen other prominent businessmen and women.

The largest eCommerce market in the world, with over $2 trillion in sales in 2022, is China.

Alibaba has a 47.1% market share in China's e-commerce business.

The combination of live streaming, electronic payments, and eCommerce services on one platform has contributed to this success in part.

Viewers can make purchases, for instance, through links displayed during the live feeds.

Alibaba gained prominence in 2020 when their 11.11 Global Shopping Festival handled 583,000 orders per second at its busiest and generated $74.1 billion in gross merchandise volume.

Crazy!

Taobao and Tmall, both owned by the Alibaba Group, are named as two of the most valuable retail brands in the world in Statista research from 2022.

Suppliers on the site are available for small and large suppliers to purchase wholesale goods from.

Through its Verified Supplier program, Alibaba uses an accredited independent organization to confirm the legitimacy of its suppliers.

Suppliers must construct their online storefront, set up their company profile, and register for an account in order to sell on Alibaba's marketplace.

Additionally, the business provides Trade Assurance, a service that insures both buyers and sellers in the event of a delivery or quality fault.

On the site, sellers can post their products for free, but they can also choose to upgrade to Gold Supplier status, which gives them further benefits to advertise their goods and boost ROI.

There are four levels of Gold Supplier memberships: Basic ($1,999), Standard ($3,499), Premium ($6,999), and Standard Extended ($6,498).

With the exception of Standard Extended, which is renewed every two years, all of these packages are renewed annually.

The online marketplace of Alibaba can inspire you!

The most popular online market in Latin America is called Mercado Libre, which translates to "free market" in Spanish.

South America's largest online marketplace, Mercado Libre, was established in 1999 by Argentine billionaire businessman Marcos Galperin.

Mercado Libre is listed as the ninth-best retailer in the world in research by Insider Intelligence, with Latin America expected to be one of the top three fastest-growing eCommerce marketplaces by 2022.

With 350 million more people likely to shop online in Latin America by 2024.

Additionally, the business reported 2021 sales of $7.069 billion, up 77.92% from 2020.

18 nations, including Bolivia, Guatemala, Honduras, Peru, and Venezuela, are served by the business.

Brazil, Argentina, and Mexico account for the majority of the platform's revenue.

The cross-border Global Selling Program of Mercado Libre has begun, enabling US-based vendors to market their goods in Mexico, Brazil, Colombia, and Chile.

The option to list and sell products in US dollars ensures that vendors are unaffected by fluctuations in local currency, which is one of the advantages cited for this service.

With the use of automated translations for queries and claims administration, this program also removes challenges related to language barriers.

Mercado Libre doesn't charge a fee to list things, but when you receive an order, the marketplace does.

Depending on where the order was placed, the Selling Fee will vary.

For instance, the platform will charge 12.5% for Classic Listing Types and 16.5% for Premium Listing Types for each order if it is sold in Brazil.

For every extra low-cost item purchased, Mercado Libre also levies an Additional Per Unit Fee.

The platform also has a minimum listing price that varies by location and is between $8 and $12.

Consider listing on Mercado Libre if you want to grow in Latin America!

Compared to the majority of the major online marketplaces, Shopee was founded in 2015 by Singapore-based billionaire Forrest Li.

But the platform showed that it could thrive.

Shopee won the Singapore Startup of the Year award in 2015, and at the 2022 Marketing-Interactive PR Awards, it won Best Overall Brand.

The platform became the most downloaded app in five years, knocking even e-commerce juggernaut Amazon down to the fourth position.

In 2021, Shopee broke sales records with its 11.11 Big Sale, selling over 2 billion items throughout the campaign.

In Q2 of 2022, Shopee also reported having amassed revenue of $1.7 billion.

The online marketplace is also known for partnering with highly-popular endorsers and local celebrities, which affirmed their position with Gen Zers and millennials.

Some of the platform's brand ambassadors include BlackPink, Cristiano Ronaldo, and Jackie Chan.

Not one to fall behind its competitors when it comes to its payment platform, Shopee launched ShopeePay in 2019.

This is the company's secure and seamless mobile wallet.

By offering additional discounts, promotions, and vouchers that are only available to ShopeePay members, Shopee encourages customers to utilise this as their online wallet.

On Shopee, there are two options for selling: the Marketplace or the Shopee Mall.

Retailers who wish to start selling right away with cheap startup costs should use the market.

As a marketplace vendor, there are no commission fees for the first six months. However, beyond that time, sellers are subject to a 2.24% commission fee.

Official brands and authorized distributors belong in the Shopee Mall.

These retailers are qualified to participate in mall-only brand-exclusive promotions and have access to all in-app features that are exclusive.

Depending on the category of your inventory, commission costs for Mall products range from 2.24% to 5.60%.

Additionally, there is a Service Fee of 3.6% and 5.6% for merchants who sign up for the Coins Cashback and Free Shipping Programs, respectively.

Be motivated by Shopee if you're looking for a marketplace that caters to vendors that want to launch rapidly!