With digitization at its peak, your absence in the digital world can be quite detrimental to the growth of your business. Searching for products on the Internet has become as easy as it can be. An article posted by Eshop World stated that the UAE has a total of 6.8 million online buyers, or nearly 80% of Internet users. A portal marketplace has emerged as an ideal means for individuals and businesses to engage with prospective customers.
Essentially, a portal plays the role of connecting buyers directly with the sellers. It offers both parties a smooth purchasing journey, right from sparking an interest in the product or service to finalizing the purchase. This enables sellers to properly discern the needs of customers; meanwhile, potential buyers are able to judge whether the products or services offered meet their requirements.
Each portal has its own unique features, categories and audiences. Buyers often use it to find properties, furniture, cars, gadgets, and jobs, among many more, for buying or renting. Whereas sellers use it to gain online presence in an affordable way. The role of the portal is limited to that of a broker.
Digital shift brought about by the COVID-19 crisis is likely to involve long-term changes for portal marketplaces
As individuals are adjusting to new norms and routines, their needs as consumers are also changing. Lockdowns and work-from-home policies have encouraged online shopping during this unprecedented time, bringing about a unique opportunity for online portals to serve more consumers.
Electronics like PCs, laptops, mobile phones and tablets have especially seen a spike in demand during 2020. In addition, the demand for used products has outpaced the demand for new products, directing more and more consumers to portal marketplaces. According to Gartner, a global research and advisory firm, global PC shipments grew 10.7% in the fourth quarter of 2020.
What are the benefits?
A portal can help your business reach all those places that your physical stores would otherwise not. There are countless benefits to having an online portal business. Notable ones include:
- Increased dependence on internet shopping: Online shopping is at an all-time high with the ever-growing number of internet users, which translates to a larger consumer base for online businesses.
- Low operating cost: Starting an online portal business involves significantly lower cost of setup. It does not require any type of inventory, warehouse, transportation or huge staff.
- 24/7 potential income: The essence of an online portal is that you can offer customers global access to your products and services, 24 hours a day and 7 days a week.
- Stronger relationship with customers: Portals offer a higher chance to get access to customer data like their name, email address and phone number. This enables several different ways to communicate with customers, take feedback and build a better relationship with them.
Ready to embrace online portals?
As the world adjusts to the new normal, it is imperative for businesses to stay relevant for customers and serve their new needs. At Flying colour business setup services, we provide a simple and effortless approach for setting up your Portal business in Dubai, this is a professional activity that will take 3-4 working days to obtain the license. If you are interested, reach out to us at +971 4 4542366 or email us at email@example.com.
*Please Note: This article was published on 24th May 2021. The information provided in the article is based on the policies and rules applicable at the time of writing it. Talk to one of our consultants for any recent updates or changes.