Today’s ecommerce is not only about customers buying their stuff online. It’s way more than that. With the changing dynamics of ecommerce and popularity of online marketplaces like Amazon, eBay, opening a multivendor marketplace is just the best deal.
No doubt, the industry has seen a major shift over the years as businesses are moving from their standalone online stores to multi-vendor marketplaces. The reason behind this shift is:
- An online marketplace retains up to 89% of your customers as compared to a single ecommerce store
- The sales from a multivendor marketplace will account to thrice by 2021.
It substantiates that an online marketplace is the perfect idea to make your business grow online.
Let’s quickly understand what a Multivendor website is?
Buying and selling has evolved over the time and so have the marketplaces. To purchase our necessities, we often prefer to go to a one-stop shop where we can get everything we want. It saves our time, efforts, and offers a large variety of products and services at one place
A multivendor website does just the same thing. In a nutshell, a multivendor website hosts multiple vendors who sell different varieties of products in a single platform. The multi-vendor marketplace benefits the website owners as well as the sellers on the website. The sellers get a larger audience, platform to sell their products and services, and opportunity to earn better profits. The website owner gets the commission on every sale of the vendors.
While every business is chasing the online marketplace model, there is a super easy way for you to get started - “A ready-to-use marketplace website builder”. With the intense popularity of multivendor marketplaces, there also comesan insane rivalry. But a modern website builder can become your saviour in this situation and become a one-stop solution to build your multi seller portal.
Why is a Multivendor website builder a one-stop solution to fuel your business profits?
1. Minimization of cost
Creating an online marketplace needs a huge working capital and high maintenance requirements for running the business. On the contrary, launching an online marketplace with a website builder needs minimum investment.
And also, there is no requirement of hiring human resources with technical knowledge. A multivendor website builder provides a one-stop solution to manage orders, inventory, logistics, payments, marketing, and a lot more.
2. Business process automation
With a multi vendor set up, you have hundreds and thousands of products, vendors and customers to cater too. Also the inherent structure means there is lots of to and fro activities between the vendors customers and the admin.
Can you think the scale of everyday operations required to run a marketplace smoothly? Obviously it's humongous!
And how do you make these tasks simple and error free. The answer is by automating processes as much as possible. And how do you achieve that easily? Planning to get that implemented by writing a code from scratch will take ages. Here is what a multi vendor website builder can do for you. With its battle tested solution it will come with inbuilt modules that automate your processes and make the functioning of your business automated, efficient and streamlined.
3. Seamless integrations for payment, shipping, finance
Things are not at all complicated when an online marketplace like Shutterstock sells digital goods. The customers can just go to the website, buy products, make payment, and get instant access to the digital goods. However, if we talk about an online marketplace that sells physical goods, things get very messy. And it can get even more humongous when you think about expanding your online business.
Managing an online marketplace manually is next to impossible for any business. This is why you need a multivendor website builder in place. It helps you to get a seamless integration for payment, logistics, payments, and everything to grow your online business.
4. No need of heavy infrastructure and technical skills
Yes, it is very much possible to start a successful marketplace without a heavy IT infrastructure and high-end technical skills. Expediently, you can build profits from your online marketplace with a ready-to-use ecommerce solution.
How easy is that!
StoreHippo lets you do just the same. It offers a ready-made solution to onboard your vendors, manage product lines, payments, orders, commissions, and earn high business profits.
5. Advanced marketing and business analysis features
Marketing the products listed on your multivendor marketplace is one of the most gruelling tasks. As soon as you finish with the vendor onboarding and product listing, the dynamic marketing features of the ecommerce platform help boost your online business.
An efficient marketplace builder like StoreHippo provides dynamic marketing and business centric features to market your brand online. The ecommerce marketing solution provides a powerful discount engine to set up personalized discounts based on user group, product category, device-specific audiences, and more. It also allows you to connect better with your customers with automated email marketing campaigns, custom landing pages, abandoned cart, order management etc.
6. Scalable and flexible solution to support your business growth
Online platforms have no limits to business growth. It allows you to scale and grow as much as you want. But to grow on technical grounds, you need a scalable ecommerce platform that grows with your business pace. The flexibility and customizations helps you to handle ever-changing business demands without extensive human efforts.
Using a feature-rich multivendor website builder like StoreHippo, you can create a B2B as well as B2C online marketplace. It is a robust platform on which you can manage customizations without spending on a tech-savvy team of programmers. It helps your business scale to the highest levels without any additional investment.
7. Hassle-free software maintenance and upgrades
You need not be a techy geek to run a marketplace. Yes, there is no need to spend your time on software maintenance and upgrades. Rather, you can focus on growing your business and making money out of it. In other words, you are your own IT manager when you use a hosted multi-seller ecommerce platform.
A fully-hosted and managed ecommerce marketplace platform like StoreHippo takes care of all the technical aspects of your multivendor marketplace. And it enables you to focus on all the important aspects of business instead.
Launch your multivendor marketplace with StoreHippo
Gaining success with an online marketplace is not only about technology but it is more about having access to the one-stop business solution. And StoreHippo offers just the same. In addition to the future-ready technology, it offers an end-to-end solution like shipping, payment, inventory, marketing to run your B2B or B2C business successfully. It also provides a great flexibility to reach the global markets using multi-store, multi-currency, and multilingual features.
Still thinking why consider a multivendor website builder for your online business? Start your 14-day free trial and explore the best-in-class features of the ecommerce platform.