Doing online business was pioneered by Michael Aldrich way back in 1979 when he created Teletext, a two-way message service platform, and from there, the business revolutionized. The first business to business transaction came to be in 1981 with Thomson holidays in the UK. The year after, an online service used to make online purchases, book train tickets, check stock prices, chat, and many more, called Mintel, was created in 1982. In 1984, the Tescos store came in, which was the first-ever shopper buys online. Jump forward to 1991, the internet started to become commercialized and gave birth to e-commerce through a couple of the most popular online business platforms of Amazon and eBay. A lot of other e-commerce companies followed suit soon after, including Alibaba in 1999.
The e-commerce industry has revolutionized the way people do online businesses. It had made everything convenient for both the buyers and the sellers. The online platforms operate 24/7 anywhere in the world, as there are no geographical limitations. As long as there are internet and electricity, the business will run. You don’t even have to pay rent for an office building as you can run an online business even if you are in the comfort of your home, or just anywhere you like as long as you have your laptop or phone with you. It is pretty easy to start an online business too. But to be able to do so, you have to prepare yourself for an endless list of fees you need to pay. Let’s take a look at some of the fees that the three most popular e-commerce companies in the world charge, Amazon, eBay, and Alibaba.
To be able to sell in Amazon, you need to pay seller fees, which include account fees and product fees. Account fees may be up to $39 per month, and product fees range from 6% up to 20% of the product’s price, averaging at 15%. They also have what they call a variable closing fee of $1.80. eBay has its own set of fees too. Some of them include the insertion fee, which is the first fee that a first-time eBay seller will encounter for listing their item, and the amount varies depending on some factors such as the type of listing, buy now, etc. Then it also has the final value fee, which is 10$ for up to $750 worth of an item, and 12% for selling books, DVDs, movies, and music items of up to $750, and the list of fees goes on from there. On the other hand, Alibaba offers free registration to online sellers, but for them to have wide access to the market, they have to pay a membership fee as it mostly targets foreign investors. It requires a deposit of up to $25,000 to become a gold member, and an annual seller fee of up to $10,000, and Alibaba gets a 2.5% commission from each sale.
Do note that these platforms are all centralized, which means that, online sellers have to consider taxes and tariffs too if they are doing cross-boarders sales. People who are wondering how to do online business with absolutely the lowest fee should check Virie Market. This latest innovation in blockchain technology is a unique decentralized virtual market place where anybody can do online business without the endless set of fees. To post an item, it will only cost you 0.001VRE, which is just roughly around $0.003 at the current exchange rate, and if you want to go premium, it’s only for 0.01VRE, which is just roughly around $0.03, and that’s it! No hidden charges at all. Not even taxes nor tariffs as there are no geographical limitations for the transactions, nor any government that controls it.
But of course, truth be told, if you’re shipping an item abroad, there may be a shipping fee. But since Virie Market runs in a peer-to-peer network system, the shipping fee is up to the two parties doing the transaction, to agree upon. With the modern escrow system in place in the most user-friendly platform of Virie, transactions are guaranteed, because if any of the parties violates the agreement, they will lose the deposit that they need to make before processing the transaction. There is more to it in Virie Market, which essentially will eventually lead to everyone’s economic freedom in the future. Download it here and start doing your online business, whoever you are, and wherever you are in the world.