10 FAQs to help you choose the best enterprise multi vendor marketplace platform

By |Updated Date : Dec 04, 2023 | 781 views | Dec 04, 2023
  • 10 FAQs to help you choose the best enterprise multi vendor marketplace platform

$8.7 trillion! Yes, that is the projected sales on multi vendor marketplaces by 2025.

This is enormous, right?

With the tremendous growth that the enterprise marketplace is seeing today, one thing is proven beyond doubt: 

For unrestrained success in 2024 and beyond, you can rely on the multi vendor marketplace business model.

Not sure how to orchestrate the transition from your existing business model to multi seller ecommerce?

Got lots of questions?

Fret not, you are just at the right place that has answers to all your questions. 

Multi Vendor Marketplace Buying Trends

Before we answer your queries, let us first see how the marketplace model has changed the ecommerce landscape.

  • $6.3 trillion spent globally on online marketplaces in 2023
  • $350 billion GMV of Indian online marketplaces by 2027
  • 35% of online businesses have switched to a multi vendor marketplace by 2023
  • 62% of global online retail sales come through online marketplaces
  • 48% of buyers prefer going straight to a marketplace website when shopping online

Source: Digital Commerce 360, Finextra, Bain & Co., Accel Partners

Enterprise marketplaces are dominating online sales. Brands with accelerated growth as their aim can rely on the marketplace model for chalking out growth strategies. However, the journey of building a successful marketplace begins with choosing a reliable and future-ready enterprise marketplace solution

10 FAQs to help you choose the best enterprise multi vendor marketplace platform

However easy it might sound to take your business to the online markets, you need a robust multi vendor marketplace solution that is adept with a host of features and tools. The solution you choose should be able to provide you with the utmost flexibility and full control over the activities of your vendors. Wonder how you will find the right solution for your business? 

To do away with the worries you have about finding the right platform, StoreHippo brings 10 FAQs with their detailed answers. 

1. Can I build a tailored marketplace for my enterprise brand using turnkey enterprise ecommerce solutions? 

Yes, you can create agile and innovative tailored ecommerce solutions for your enterprise brand using turnkey enterprise ecommerce solutions like StoreHippo. Every business comes with its own unique needs and requirements, implying the need to create solutions that are tailored to the uniqueness of your business. Tailored solutions go a long way in streamlining your business and helping you engage and convert your buyers better. 

With StoreHippo’s SaaS-based ecommerce solution, you can simplify your business operations, maintenance, and upgrades, etc. With extensible ecommerce solutions from Storehippo brands get the agility and flexibility to build solutions that adapt to the changing market dynamics. With enterprise ecommerce solutions, you can quickly customize both the backend and the frontend without the need for extensive coding.  

StoreHippo is built on decoupled headless architecture that enables you to tweak the ecommerce solution and create unique business flows customized to the needs of your customers. With the headless architecture and the microservices based structure, StoreHippo is an extremely flexible ecommerce solution. It comes with 300+ API-based integrations that help you create business ecosystems that remain exclusive to the needs of your online marketplace.  

2. Will it be possible to scale and grow my enterprise marketplace? 

It is natural and prudent to factor in future scalability and growth while evaluating your marketplace solution provider. With a robust ecommerce solution provider like StoreHippo, you can seamlessly scale and grow your enterprise marketplace as and when needed. As you might want to grow your SKUs, add more vendors, increase your customer flow or create a chain of ecommerce stores for your enterprise brand, the solution provider you choose must have the set of tools and features needed to accomplish it all. 

StoreHippo ecommerce platform is built on inherently scalable solutions. As you choose StoreHippo to build your multi vendor marketplace on, you can handle millions of customers without having to compromise on the page load’s speed or site speed. StoreHippo is built on the most advanced technology stack that offers peak load tolerance with 99% uptime. You can seamlessly chart an upward trajectory of growth with the inherent scalability that supports any number of products, vendors, geolocations etc. 

3. What are the apps and extensions I would need to create a hybrid enterprise marketplace (say hyperlocal multi store ecommerce) going forward?

Depending on the type of enterprise ecommerce solutions you choose, you might have to invest in paid apps or extensions for pivoting to new business models. If you are using a well rounded solution like StoreHippo that comes with 300+ enterprise-grade features, you wouldn’t need to look for apps and extensions to create hybrid solutions for your business. 

StoreHippo is a fully hosted and managed ecommerce solution that comes with built-in support to create disruptive business models for your enterprise brand. With the ever-evolving ecommerce market dynamics, building a hybrid ecommerce platform or pivoting to a new business model, hyperlocal multistore ecommerce should not pose a challenge. StoreHippo multi vendor marketplace solution comes with battle-tested ecommerce features that help you combine the goodness of two more business models to create a hybrid ecommerce solution. 

4. Can I create personalized shopping experiences using turnkey enterprise ecommerce solutions?

Yes, you can create a personalized shopping experience for your customers using your enterprise marketplace depending on the ecommerce solution you choose to build your marketplace on. StoreHippo is built on MACH architecture that offers inherent flexibility and creative control to create custom website designs and offer a personalized shopping journey. With the immense growth of personalisation in today's ecommerce landscape, building personalized solutions can greatly improve  your sales and overall growth. As 90% of online businesses are already investing in multi-level personalizations, it is time to go all in and create  buyer journeys tailored to your customers’ needs and expectations. 

StoreHippo enterprise ecommerce solutions help you implement multi-level personalizations. You can seamlessly build multiple personalized store fronts for different audience groups, locations or product categories. With the powerful built-in discount engine, you can create personalized discount coupons for your customers. StoreHippo also enables you to customize your shipping solutions, payment methods, create multilingual websites, offer personalized pricing of products, create different designs for the storefronts, etc. With the varied tools and features from StoreHippo, you can keep your customers engaged with your brand. 

5. Can I run both the B2C and B2B business models on my enterprise marketplace? 

Yes, you can. Building and managing both B2B and B2C worlds on a single platform seems challenging but not when you have a two-in-one solution at your disposal. Yes, StoreHippo enterprise marketplace solution comes with built-in solutions to cater to both the B2B and B2C businesses. With the gradual growth of your B2B enterprise business, you might want to start selling to the end customers as well or you might want to pivot your B2C marketplace to a B2B setup. What happens then? You go through ecommerce migration which is tiring and cumbersome. How about you choose an ecommerce solution that helps you run both businesses using a single platform? 

StoreHippo ecommerce solutions gives you the freedom to handle both B2B and B2C businesses seamlessly. You can create different store-fronts using the multistore enterprise  ecommerce solutions and cater to the specific needs of your customers. You can also sell entirely different product categories using the same platform to a different audience group. StoreHippo offers a host of enterprise-grade features that help you to create a custom B2B portal, offer custom quotes and handle both B2B and B2C ventures from a single admin dashboard.

6. Will I be able to build mobile apps easily for my enterprise marketplace website?

Yes, you can. However, as you choose your enterprise marketplace website builder, make sure to look for a mobile-centric solution like StoreHippo that can take your enterprise marketplace to the mobile phones of your buyers. As the world is gravitating towards mobile shopping, being available on mobiles is not just an option, but the necessity of the ecommerce world. Mobile shopping also gives your business better chances to benefit from impulsive buying habits of your customers, now isn't that a win-win for you?

StoreHippo is built on a mobile-first technology that comes with a comprehensive mobile app builder to help you build Android and iOS apps right from your dashboard. You can seamlessly create conversion-oriented mobile apps without any coding and at zero additional costs. Marketplaces created by StoreHippo enterprise ecommerce solutions are also PWA stores that look, feel, and work like mobile apps even on entry-level devices and work seamlessly with poor internet connectivity as well. StoreHippo also offers built-in apps for multiple users like admins, delivery people, or vendors to manage your enterprise business on the go.  

7. Can I build an easy-to-use enterprise marketplace with turnkey enterprise solutions?

Yes, you can build an easy-to-use marketplace website with the turnkey ecommerce solution and run your enterprise marketplace seamlessly. Creating a smooth buying and selling experience for your customers and sellers is imperative for your business growth and your ecommerce solutions shall be capable of doing this. Not all vendors come with a rich technical skill set to run an online business. With user-friendly StoreHippo marketplace solutions, you can harness the power of technology without the need for high-end technical know-how. 

StoreHippo ecommerce solutions are designed in a way that makes selling easy for the vendors and managing the marketplace seamless for the admins. StoreHippo offers a comprehensive easy-to-use vendor admin dashboard to help your vendors manage their products and orders in just a few clicks. The multi vendor marketplace solution by StoreHippo offers separate vendor dashboards to your vendors to help them manage their business operations smoothly. StoreHippo also comes with easy product and order management systems to help vendors handle their day-to-day business operations smoothly. 

8. Will it be possible to build a multilingual enterprise marketplace to sell in domestic and international markets?

Yes, you can. And as 68% of the online shoppers prefer to buy in their native languages, make sure to choose an enterprise marketplace solution that helps you go multilingual. When you offer your customers an ease to shop in their native language, you can retain customers from both local and global markets. Sounds challenging? Well, surprisingly with the right ecommerce software at hand, you can handle multiple stores in different languages quite smoothly. 

StoreHippo ecommerce solutions come with built-in multilingual support that helps you to quickly translate into 100+ languages. You can translate your website also into right-to-left languages like Arabic, Hebrew, Urdu, etc. You can choose between automatic and manual modes of translation to translate your website. With StoreHippo enterprise marketplace solutions, you can also add multilingual themes to your website and offer a seamless buying experience to your customers. 

9. Can I integrate my existing business software solutions with my enterprise marketplace? 

Yes, with a 360-degree ecommerce solution like StoreHippo, it is easy to integrate with any software or service of your choice. Running an enterprise level business can become challenging when it comes to the diverse needs of your business and buyers. It thus becomes natural and imperative to look for third-party apps to integrate on your multi vendor marketplace. StoreHippo's solution makes it easy for you to run your business with the chosen software and services. 

The ecommerce platform, StoreHippo comes with an API-based architecture that helps you easily integrate with multiple softwares and service providers of your choice. As you can easily integrate with multiple softwares like CRM, ERP, accounting, etc, it comes easy for you to handle large-scale enterprise businesses and the day-to-day operations. You can also seamlessly integrate with multiple delivery partners, chatbots, live chats, etc that helps you carve a niche for your enterprise brand.                                         

10. What are the SEO and marketing tools available with the enterprise ecommerce solutions?

Marketing is no doubt the most important aspect of a successful enterprise business. Without a solid marketing strategy, it becomes challenging to achieve your business goals and boost your conversions. An enterprise ecommerce platform like StoreHippo comes with a host of features and tools that help you market your multi vendor marketplace to the customers. Also, since customers tend to look for a brand at multiple touchpoints, you need to have access to a variety of marketing tools that help you position your brand better in the ecommerce market. 

SEO-friendly StoreHippo ecommerce solution comes with a powerful discount engine to help you implement multi level discounts and coupons. You can use personalized notification features to recover abandoned carts and convert potential customers easily. With the built-in SEO tools from StoreHippo, you can rank higher on SERPs and create different meta titles, meta descriptions etc. You can also position your brand for growth with the built in discount engine from StoreHippo. The advanced built-in reporting engine helps you analyze the best-performing sales channel for your enterprise marketplace. With rich customer data, you can track the visitors path and leverage it to boost your conversions. 

Conclusion

The most crucial step while taking your enterprise marketplace online is finding the right ecommerce solution. And choosing the right software solution for your enterprise brand can be challenging. You need futuristic features that will help you hack unparalleled growth for your enterprise business. 

StoreHippo is a SaaS-based ecommerce solution that comes with enterprise-grade features and MACH architecture to help you run your multi-vendor marketplace smoothly. You can build highly scalable enterprise ecommerce solutions with cutting-edge technology and flexible solutions from StoreHippo. 

Are you ready to build your multi-vendor marketplace with StoreHippo ecommerce solutions? Explore the 300+ enterprise-grade features from StoreHippo by starting your 14-day free trial now

Leave A Comment