How To Create An Online Marketplace Like Alibaba, Amazon And Flipkart
To create an online marketplace like the popular horizontal multi vendor online stores Amazon, Alibaba or Flipkart you need a well throughout business plan and the support of the right technical framework that builds your multi vendor ecommerce website.
Let us make it easier for you by listing the stepwise plan from the idea to the execution. Here is how you should plan to build and launch a popular online marketplace:
- Do thorough research to identify your market and product mix
- Define your target market, begin small but plan for phase-wise expansion
- Analyse and onboard vendors that offer competitive pricing
- Register your company and align all paperwork to create an online marketplace business
- A feature-rich and easy to use multi vendor ecommerce software
- Build your online marketplace and allow vendors to upload their products
- Promote your business across digital and print channels
- Test and launch your multi vendor ecommerce website
Why Choose SaaS-based Solution To Create An Online Marketplace
Choosing the right multi vendor ecommerce software goes a long way in ensuring the growth and success of your business. Being stuck with a rigid or outdated platform can ruin your growth prospects. Since multi-vendor is a complex set up, you need to understand your requirements correctly and take the right step right from the beginning.
While there are a variety of multi vendor website builders in the market, SaaS-based marketplace solutions are becoming increasingly popular among small, medium as well as enterprise businesses.
Let us see why you should create an online marketplace with a SaaS-based multi vendor website builder:
- It offers a cost-effective solution that frees the business owner from the recurring cost of software and hardware purchase, maintenance and upgrade.
- Offers a modular and well-rounded solution which makes it easy to add or remove modules for various business functions.
- SaaS-based software is intuitive and easy to use which facilitates faster adoption and efficiency.
- Inherent flexibility makes it easy to customize and make changes as per changing market demands.
- The scalable infrastructure allows for rapid growth without worrying about spending additionally on upgrade.
- To create an online marketplace that is ahead of the competition you need seamless integrations. SaaS-based multi vendor ecommerce software facilitates seamless integrations with various third-party software.
- Automatic upgrades give a technological edge as the software is always up-to-date and streamlined with market requirements.
- Automated processes ensure faster and error-free work leading to increased efficiency.
StoreHippo SaaS-based multi vendor ecommerce software offers all the above advantages to your business.
How Do I Onboard The Best Vendors To My Multi Vendor Ecommerce Website
When you create an online marketplace and dream of making it the next Amazon, Alibaba or Flipkart you will have to ensure that you onboard the best vendors on your portal. Having the best vendors, sellers, merchants and distributors means you can offer a rich product catalogue to your customers. Eventually, this would lead to better sale and word of mouth popularity.
Let’s check the approach to onboard the best vendors on your multi vendor online store:
- Review the popular marketplace websites and make a list of popular vendors
- Market your platform before its launch so you attract vendor interest
- Choose vendors from various product categories and invite them to join your brand
- Offer merchants the best onboarding experience with minimum paperwork
- Create an online marketplace structure to offer preferred merchant status to vendors
- Offer a transparent commission structure and payout rules
- Help them manage inventory with automated processes
- Make returns and refunds transparent and easy to handle at the vendor level
- Offer support services like a demo of their dashboard and its features and how to maximise their product visibility
- Offer additional services like customer support, discounted shipping and pick up
When you create an online marketplace with StoreHippo SaaS-based online marketplace you get a comprehensive vendor module, vendor ledger, and a separate vendor dashboard. This gives your vendors a seamless selling experience on your marketplace website. With an attractive commission and discount structure, you can assure your vendors of good sales.
Your marketing strategies along with inbuilt StoreHippo tools would go a long way n attracting the best vendors to your multi vendor ecommerce website.
Why Choose StoreHippo To Create An Online Marketplace
StoreHippo’s multi vendor ecommerce software offers 300+ inbuilt tools along with a next-generation technology that builds mobile-ready multi-vendor online stores. The platform is designed in a way that it offers a growing business in all its stages right from the start to the place where you scale up to millions of products, pages and users.
Our SaaS-based ecommerce platform can work equally well for small, medium or fast-growing high volume enterprise businesses of B2B and B2C model. Along with this our multi vendor ecommerce software is equipped to handle custom requirements for out-of-the-box marketplace models. We have helped many businesses create an ecommerce marketplace that is disruptive and has become a trendsetter.
StoreHippo’s easy to use multi vendor website builder facilitates vendors as well as business owners to focus on business growth rather than getting burdened by everyday chores of managing the business processes. Our mobile admin facilitates business on the go. You can also build your marketplace mobile apps at zero additional cost right from your admin dashboard.
StoreHippo also offers inbuilt solutions to take your business to global markets. You can easily create your multilingual website where you can implement multi-currency payments, invoicing, multi-level taxes for various countries, IP based pricing etc. to make business easy for your vendors and customers.
When you create an online marketplace with us you also get 50+ integrated payment gateways along with full COD support. Additionally, you also get an automated shipping solution with pre-integrated and discounted shipping partners.
Ready to launch your multi-vendor online store? Check the various Multi-Vendor Use Cases powered by StoreHippo the best multi vendor website builder and explore our platform by starting your 14-day free trial now.