E-commerce has witnessed rapid changes in the past five years and the changing dynamics of online shopping has redefined e-tailing like never before. The success of multi seller ecommerce platforms like Flipkart, Amazon, Snapdeal have made the entrepreneurs realize the advantages of having multiple sellers on their online store.
The current e-commerce trends are clear indicator that online shoppers are a savvy lot and give preferences to sites that offer them multiple options of products, sellers, shipping etc. Any store offering a variety of choices is a clear winner because it gives an empowering feel to its customers.
How do you define a Multi Seller Ecommerce site?
A multi seller website is just like a real world mall which has multiple shops under one roof selling different brands and product categories. Multi- seller stores provide a common marketplace to various vendors who have the ability to sell products online but do not own an online store.
Related Read: Top 5 Payment Gateways for Multi seller commerce stores
How does it work?
In a multi-vendor set up the vendors list their products on the marketplace without bearing the cost of development. The brand value of the marketplace helps the smaller vendors get better traffic and orders for their products. In turn, they pay a predetermined commission to the marketplace owner for listing and selling their products on the platform.
The multi seller online store owner benefits by having various sellers who completely bear the responsibility of sourcing, stocking and shipping the product. The marketplace owner usually takes care of providing customer support. Thus, without taking the pain of managing end-to-end operations the marketplace owner earns a commission on each sale of multiple vendors.
Advantages of converting your webstore into a multi-vendor store:
There are obvious advantages which can prompt an online business owner to create a multi-vendor site. Some of these are:
- Offers vast range of choices to your customers
- Frees you from burden of managing logistics, inventory, product upgrade etc.
- Virtually sets up many shops within your marketplace
- Cuts down on expenses both for the sellers and the marketplace owner
- Multi-seller marketplaces generate better traffic and sales compared to a simple website
- Frees vendors from brand building effort allowing them to focus on sales and profits
- Offers easy and flexible product management and reporting options
How to choose a multi-vendor ecommerce platform for launching your marketplace
If you are planning to convert your webstore into a flourishing marketplace, you can either get it custom made or use an existing platform or extension that allows easy and quick extension of your online store into a marketplace.
Unless you have plenty of time and money, getting a custom solution can really become cumbersome. Instead of spending resources on getting it developed from the scratch it is always better to go with an established e-commerce platform that provides multi-seller functionality.
Related Read : Ask these questions before choosing an e commerce platform
Check out the various off the shelf multi seller ecommerce platform and go for the one that best fits your requirements. While reviewing the platforms check if they provide the following features:
- Mobile ready platform enabling Omni-channel sales
- Secure platform guaranteeing vendors trust in your marketplace
- Complete control of merchants to the admin
- Customization and options to extend the features
- Freedom to the sellers to manage their inventory and pricing
- Seamless shopping experience to customers even when they choose different vendors for an order
- Sound tracking and reporting of sales, commissions, abandoned cart etc.
- SEO ready platform that helps create better visibility and brand value
StoreHippo offers a unique solution for online businesses looking for a platform to create a multi-vendor site instantly. It uses future ready mobile technology which enables your marketplace to tap mobile commerce without additional effort on development.
Related Read: 5 Inspiring success stories that will guide you how to start online store
Keep looking out our blog page for more information on various aspects of opening, handling and managing a marketplace with multiple sellers.
Have queries? Drop us a mail on email@example.com and our team would get in touch to answer your queries.