Purse is one of the largest online marketplaces that offer the lowest price on almost everything. One of Purse’s objectives is to provide a frictionless marketplace. This is shaking up things in commerce globally through the introduction of bitcoin, a currency that is acceptable anywhere.
Purse’s mission is to give an unmatched efficiency and transparency to commerce that empowers shoppers all over the world.
Why Is Purse Needed?
- It is needed so as to ensure that transparency in the purchasing process is maintained as the stock levels, availability, and prices are placed openly on the site for everyone to see.
- They are needed so as to do away with the issue of time constraints. Since it’s an online market place, it operates around the clock.
- To provide buyers and suppliers with opportunities to set up trading partnerships.
- It provides buyers with updated information on price and availability of goods. This ensures that they are able to get the best deals available.
- It is needed so as to save time. Instead of comparing the prices of goods from different suppliers, purse enables you to compare from a single source.
- It provides lower marketing costs as compared with the rest of the sales channels.
- It opens up a customer base all over the world with just a click of a button.
Benefits Of Purse
Purse offers huge discounts. These discounts are gotten from individuals who transfer their Amazon credit for cryptocurrency such as bitcoins. Gift card credits are hard to exchange, and Purse helps add liquidity to the market. If you want to get bitcoins in return for a gift card that you do not want, the easiest way is to purchase goods on Amazon.
Purse has amazing offers such as free shipping for any goods purchased on Amazon.
This market place enables any person to create a store online that accepts cryptocurrency such as Bitcoin as a mode of transaction. Purse has created a database that is centralized. On this database, buyers can spend their bitcoins easily. This platform provides a cheaper alternative to PayPal and eBay, as it gives free plans that allow sellers to sell limitless items for a fee of 5%.
Purchasers run a high risk of identity theft. This can be a possibility if someone steals your debit card number, what will happen is your whole checking account will be exposed. Within minutes, these identity thieves can drain your entire account and set you back financially for years.
As a merchant, you may not have to lose sleep over issues such as branding, set-up, and maintenance cost but you need to be in line with the selling rules of purse. Therefore when they make a change on their prices like in the holiday season, you have no choice but to comply.
Purse does not provide sellers with an opportunity to control their own brand image. Therefore, the sellers shipping material is not branded to their unique company. This is an opportunity missed to strengthen the sellers brand image with their customers. Also, Purse carries their own products on the market place.
Therefore, they present a big competition to sellers and definitely are a tough competitor to be up against. This competition makes sellers on the platform lose hope.
By Purse advertising their own products on the market place, they make it difficult for other merchants to compete with them as they can afford to give better prices and still make a profit.
There is also a risk that if a merchant is selling a product that is doing very well on the market place, purse can take note and decide to offer the same product. These may mean that the profits will be split in half.
There are some hidden costs such as shipping that may not be revealed on the product description. These hidden costs usually escalate the actual price of the product. Lastly, when middle men such as retailers get involved in the entire process on purse, the buyers may run the risk of losing the products ordered.
Using purse does not mean guaranteed success. It is critical to be aware of the advantages and disadvantages. This will ensure that you are able to make informed decisions that are best for your needs. Purse is a market place that is all about what you sell, who your audience is, and what your business goals are.