Why StoreHippo is the Best Solution to Build E-Pharmacy Marketplace

Are you planning to launch your own online pharmacy marketplace?

If yes, kudos to you for making a wise decision.

Wondering what makes us say so?

While all the other industries were battling the COVID disruptions, the pharmacy business saw a major uptick. Necessitated by the high customer demands, e-pharmacy stores like Netmeds and PharmEasy saw a major spike in sales across cities. 

In fact, the demand for the medicines category overall has gone up by almost 100% with a particularly high surge in sales of medicines for flu, cold and cough on online platforms.

Let us look at few e-pharmacy marketplace growth trends:

• 38% e-pharmacy market growth from 2019 to 2020
• INR 89.47 Bn is the expected Indian online pharmacy market worth by 2027 

• 3.6 X growth forecast for the online pharmacy market from 2021 to 2028
• 19.5 % is the CAGR of the global pharmacy market for the forecast period 2022-2030

Source: Grand View Research, Statista, Research and Markets

With such steady growth, creating an e-pharmacy multi vendor marketplace that caters to diverse categories like health-based services, medicines, surgical equipment, testing kits etc can be a great business idea. 

How to build an e-pharmacy online marketplace?

To create an e-pharmacy marketplace, you can either build the platform from scratch or go with an advanced ecommerce solution provider. However, building a marketplace from scratch comes with the requirements of a skilled and professional IT team to develop and manage the marketplace. Whereas, going forward with a turnkey ecommerce solution saves a lot of time and budget. 

The one most important factor to consider while building an online store is to check if the solution provider is easily customizable to best fit the unique business needs and is easily scalable to the future goals of the business. StoreHippo offers 300+ inbuilt features and 120+ integrations making it easy to build innovative solutions for enterprise e-pharmacy businesses.  

10 reasons why you should build your e-pharmacy marketplace with StoreHippo

StoreHippo comes with the best-in-class SaaS-based multi vendor marketplace ecommerce solutions for pharmaceutical businesses of all sizes. Based on cutting-edge technology and MACH architecture, StoreHippo marketplace builder creates highly scalable stores with advanced features and tools. 

Let us look at the top 10 features that make StoreHippo the best solution provider to build online pharmacy marketplace:

Advanced multi-vendor solutions

It can be an overwhelming task to manage the medical vendors on your multi vendor marketplace and overview their business. However, with StoreHippo, onboarding and managing the vendors can be done easily and quickly in just a few clicks. 

With the end-to-end comprehensive multi-vendor solution from StoreHippo, you can build and manage a feature-rich online pharmacy marketplace. StoreHippo offers a quick and easy vendor registration process and creates separate vendor accounts for each of the sellers. It enables the admin to seamlessly manage their vendors, overview their business, approve or reject their medical products etc right from the dashboard. 

Omnichannel benefits 

Did you know that almost 90% of customers look for consistent omnichannel interactions? And if you fail to provide so, your brand stays behind in the race. However, you can add multi-channel sales support on your pharmacy multi vendor marketplace.

StoreHippo helps you provide consistent omnichannel interactions with your customers. You can add multiple customer touchpoints easily with StoreHippo. It offers 300+ API endpoints and headless architecture to create new sales channels using the same backend logic and APIs for your pharmaceutical customers. With StoreHippo’s multiple in-built ecommerce features, enterprises can implement effective omnichannel experiences at ease.  

Leverage mobile commerce

With almost 80% of smartphone users making at least one purchase using their mobile device in the last six months, the power of mobile commerce can’t be overlooked. Online buyers prefer shopping on mobile phones for hassle-free quick shopping. 

StoreHippo is built on a mobile-first approach and creates PWA stores for your online pharmacy business that look, feel and work like mobile apps even on entry-level devices with poor connectivity. The StoreHippo ecommerce platform also enables you to build Android and iOS apps right from the dashboard without any additional cost or coding requirements. StoreHippo also provides built-in apps for delivery boys, vendors and admin to help them manage the e-pharmacy business on the go. 

Extreme personalization

It is not at all surprising that 80% of customers like to make a purchase from a brand that provides personalized experiences. So are you able to create a bond with your customers? Are you ready to cash in on the hottest ecommerce trend and offer a personalized shopping experience to your e-pharmacy customers?

To easily analyze customer behaviour and implement personalizations, you need the right ecommerce platform. StoreHippo offers advanced analytical tools and features to offer extensive personalization to your medical supplies customers on the e-pharmacy multi vendor marketplace. Based on your customer’s order history and other demographics, you can offer them personalized product recommendations. 

With StoreHippo you can also offer personalized web, push or mobile notifications about the medical restocks, discounts, etc based on your customers’ preferences. Built on decoupled headless architecture, StoreHippo helps you to tweak your backend and front end to implement multi-level personalizations. You can also customize your shipping solutions,  and digital payments, offer localized shipping, etc with StoreHippo.

Scalable and flexible

For fast-growing industries like pharmaceuticals, you need a scalable and flexible marketplace builder. The ecommerce platform must grow with you as you add more products and escalate to more customers and increased orders. 

StoreHippo’s inherently scalable cloud infrastructure powers out-of-the-box ecommerce solutions for your online medicine delivery business giving the brand freedom to experiment, innovate, and scale. 

You can design unique ecommerce enterprise solutions and carve your own niche in the pharmaceutical market. With the powerful MACH architecture by StoreHippo, you have the unmatched flexibility, inherent scalability and superfast performance providing you an extra edge over other online pharmacy marketplaces. 

Support for various business models

Wondering why is it imperative to build your online marketplace on an ecommerce platform that has potential to support business models like the B2B, B2C, B2B2C, D2C or any other custom hybrid business model? 

It's simple math! When you start with a business model, say a multi vendor marketplace, you are unsure how the business will unfold in the future. You might start with a few sales channels or with a particular business model, but feel the need to diversify to new business models as the business grows. With the ever-changing market dynamics, it is important to be equipped with features that help you pivot to different business models easily. 

StoreHippo comes with a fully hosted and managed enterprise ecommerce solution with built-in solutions to create disruptive business models. With StoreHippo’s inherent flexibility and adaptability, it is easy to switch or combine different business models to create an e-pharmacy store. You can go to the market in record time with the battle-tested ecommerce solutions for B2B, B2C, quick commerce or any other hybrid business model. 

Built in marketing tools

To establish your pharmacy brand in the market, you need to market it well. It helps you reach out to millions of customers in a few easy steps. 

StoreHippo offers comprehensive, easy-to-use, and fast-to-implement inbuilt SEO tools. You can position yourself higher on the SERPs and grow your business using these SEO tools and features. You can easily create unique URLs for pages, meta-titles, meta descriptions, meta tags, keywords and much more right from your admin dashboard and gain higher organic footfalls on your online pharmacy store. 

With the powerful built-in discount engine and promotion tools from StoreHippo, you  can build effective strategies and offer multi-level discounts or create personalized coupon codes. You can also recover abandoned carts with real-time personalized email and push notifications. 

Seamless Integrations

To build your own niche in the pharmaceutical market, it is important to create a strong online presence and stay on top of your customer needs. That would mean handling complex ecommerce business ecosystems, requiring support from third-party tools and software. Online pharmacy marketplace websites that use integrated services and software can position themselves better and explore new growth opportunities with data-driven insights for business growth. 

StoreHippo helps brands with seamless integrations of their own choice of software to build innovative solutions. With the headless APIs, StoreHippo enables brands to manage their business with hassle-free and quick integration of software like CRM, ERP, accounting, and so on. You can also integrate with multiple delivery partners, payment channels, chatbots, live chat etc. to offer a seamless shopping experience to your customers. 

StoreHippo comes with 120+ built-in integrations that integrate easily with the preferred software and service providers. StoreHippo comes with pre-integrated logistics and payment gateways to help brands implement faster checkouts and streamlined order fulfilment on their online pharmacy store. 

Highly secure marketplace

As you are building an online medicine delivery store, you can not ignore the safety of your customers and their personal and sensitive information like the medicine they order, their transaction details, their addresses etc. So it becomes imperative to look for and provide  safety against data theft to your customers.  

StoreHippo provides a robust multi-layer security solution with an SSL certificate and highly secured payment gateways. You can get the free SSL certificate directly from the StoreHippo admin. StoreHippo also offers a highly secure ecommerce solution with extensive features by securing the transactions by PCI-DSS compliant payment gateway, data encryptions, strong security of all the user access trails, and more on your e-pharmacy store 

Integrated payment and logistics solutions

Customers expect their medicine orders to be delivered quickly and the payment processes to be seamless. Is your e-pharmacy business on the front foot with logistics and payments? 

If not, StoreHippo helps enterprise marketplaces integrate with multiple shipping and logistics partners to automate the online medicine delivery process and create a low-cost supply chain. You can choose the best shipping solution from 30+ pre-integrated shipping partners on the StoreHippo platform. StoreHippo also comes with 60+ integrated domestic and international payment gateways enabling customers to choose from COD, digital payment, card payments etc. It ensures a frictionless payment process and eases the shopping process for customers. 

Conclusion

When you build an e-pharmacy multi vendor marketplace, you need unique and advanced features that can keep your customers satisfied with your brand. With StoreHippo, the best ecommerce software, you can set your pharmaceutical business on the path to achieving an upward growth trajectory. 

StoreHippo is a SaaS-based ecommerce platform that helps businesses cope with the changing market dynamics. It helps you future-proof your online pharmacy marketplace and engage better with the customers. Irrespective of the size and scale of the business. 

Are you ready to build an online medicine delivery business with StoreHippo? Explore the enterprise-grade features by starting your 14-day trial now.