Search google for highest earning ecommerce stores and you will find the top listers like Amazon, Etsy, eBay etc.
Will you be able to find any person who has never heard about Amazon or eBay today? Most likely the answer is NO. The immense success of these multi vendor marketplaces has reached every corner of the globe.
Eventually, the popularity of the online marketplace has increased greatly. And this tremendous growth is here to stay as more companies are adopting this concept to promote online sales.
Let’s check out some interesting statistics about online marketplaces:
Why multi-vendor marketplace is the best idea for online business?
- Over 50% of the online sales are made through online marketplaces every year
- Over 31% of the first-time shoppers prefer to buy from online marketplaces
- Over 47% of repeat purchases are made on marketplaces
- Over 28% of the shoppers start their shopping journey on marketplaces
Are you going to just experience browsing the wide range of products on these successful websites? Or the entrepreneur in you pushes you to capitalize on the opportunity of creating your online marketplace?
Well, the latter option can be way too more profitable for you.
Why consider a multi vendor website builder?
When the successful giants like Amazon or eBay ventured online, they didn't have any alternative to build an online marketplace and started from scratch. But with modernization of ecommerce technologies and advent of SaaS-based solutions, it became much easier for businesses to roll out their marketplaces at a fraction of cost and time. With a best-in-class website builder, you can create and run your online marketplace successfully.
Must-Have features of a Multi Vendor Website Builder
Simplified tax calculations with multi-tier tax engine
Taxes can be overwhelming but they need to be managed well to run a successful ecommerce business. But are you able to manage your business taxation system correctly and efficiently? Well, an ecommerce tax engine can simplify all the tax calculations on your online sales with its automated systems. You can get complete GST support for multi vendor marketplace and apply different tax rules for multiple product lines, buyer locations, and vendors. With the powerful tax engine of StoreHippo, you can create different tax rules based on countries, order amount, products and also, add multiple taxes in a single umbrella. No more taxation and accounting hassles now.
Hassle-free management of returns and refunds
Returns and refund management is one of the most important factors that decides where the customers choose to shop and vendors choose to sell. If you also want to become the top choice in their mind, a simplified dashboard for returns and refunds management is a great idea. Just like StoreHippo does. With our multi vendor marketplace platform, you can easily manage returns and refunds of various vendors with a central dashboard. Start managing your large number of returns and refunds quickly and efficiently.
Easy adaptive payments
Starting an online marketplace is a great idea but when there are multiple sellers in the fray, it becomes very difficult to calculate and manage the payments. Fortunately, StoreHippo has an automated payment system to handle the admin and seller payments seamlessly. It gets much easier with the adaptive payment feature under which the order amount gets automatically split between the admin and one or more sellers from the payment gateway itself.
Unified notifications to keep everyone informed
We understand there are too many parties involved in the multi vendor marketplace business model and keeping everyone informed about every activity is a difficult job. How about sending unified communications through email, SMS, push, and web notifications to everyone in one-go? Yes, you can do it easily with StoreHippo.
Comprehensive seller ledger
As soon as you launch your marketplace, different vendors will be onboarded and they all follow different business practices. Well, it is not possible to understand and manage individual needs of vendors but setting up rules separately for individual vendors can be a go-to solution. Isn’t it? StoreHippo is a multi vendor website builder that allows you to set up individual vendor rules for payments, commissions, and related concerns The comprehensive seller ledger displays everything you need to know about the vendor payments, transactions, pending orders, invoices, and more in a few clicks.
Powerful discount engine
A class-leading marketplace platform is essential for your online business but marketing is what rules the business. The right marketing strategies, technology, and automation is the key to your online success. StoreHippo is a multi vendor website builder that allows you to create a variety of coupons and promotions to boost the conversion rate on the website. You can also drive personalized marketing campaigns based on the product choices, devices, order volumes, time, sellers, and much more.
Exceptional shipping management capabilities
Getting your website up and starting to sell is one thing, but managing shipping processes in ecommerce is some other level of job. It is definitely one of the key business processes in the online business and you need to take care of it very carefully. The integrated shipping solution of StoreHippo allows you to manage shipping, offer discounted shipping, manage product pickups, and more from a central dashboard without any hassles.
Seamless third-party integrations
As you start working as an owner of a multi vendor marketplace, you will need to handle a complete ecommerce business ecosystem and not only your website. You will require many third-party integrations to manage various services for your business. Some of your existing business systems like ERP, marketing and mailing software need to be integrated in the new ecommerce platform. The seamless integrations offered by StoreHippo lets you manage all these integrations while streamlining your ecommerce business operations.
On-the-go mobile version
Mobile commerce is not only a matter of consumer trend but it is an unavoidable business need. Business is where the sales are. And most of the sales are happening on mobile. We at StoreHippo have understood this concept long back and that’s why we built our platform on a mobile-first approach. What’s more? Our multi vendor website builder allows you to gain mobile commerce edge with PWAs (Progressive Web Apps) to make your site look and feel like native application on multiple devices.
Why choose StoreHippo multi vendor website builder?
There is no doubt that online marketplaces are promising and give a competitive edge to your business. Launching your marketplace is quite enticing too as it allows you to conduct online business without worrying about inventory, logistics, returns, refunds, and payment hassles.
If you want to reap all of these benefits with minimum investment, choosing the right ecommerce platform is very important. With the selection of right software, you start an awesome multi vendor marketplace of your own and monetize it in just the way you want.
StoreHippo offers a one-stop solution to all your online marketplace needs. There is a strong reason why we call ourselves a one-stop solution. We do not only provide you a future ready technology to create a marketplace but also provide end-to-end solutions to run your B2B or B2C business successfully. Our easy to use ecommerce platform is built on the mobile-first approach to win the increasing prevalence of mobile commerce. The pre-integrated logistics solution and payment gateways, go-global features for international business makes it even easier to automate the business operations and skyrocket your online success.
Don’t believe that you can have it all on a single platform? Check it out yourself by starting your 14-day free trial now.