Why You Should Create Ecommerce Marketplace
Do you know that when you create ecommerce marketplace, you align your business for better and faster growth? Wonder how this happens?
The multi-vendor online store has emerged as the most successful business model in recent years. With over 95% of online buyers have purchased at least once on marketplaces, this is the preferred shopping channel of savvy online buyers. Also, more than 50% of global online sales have taken place on a multi-seller portal.
When you create ecommerce marketplace, you give a winning edge to your business. The inherent structure of this unique model gives you the following advantages:
- Less investment as no need to maintain inventory
- Easy to diversify by adding new vendors
- Gain better and larger traffic by offering multiple products
- Competitive pricing among vendors attracts more customers
- Easy to build customer loyalty for marketplace brand
- Earns fixed or flexible commission on each sale
- Full control of vendors and their products
- Gives freedom to reach new markets by onboarding more vendors
With so many benefits multi-vendor online store model is being preferred by fast-growing B2B and businesses.
Different Ways To Create Ecommerce Marketplace
The traditional approach to build any type of online store was to go with custom software. But with the emergence of a variety of turnkey solutions, you can take any one of the following approaches to create ecommerce marketplace:
- Custom Software: If you have the time, money and the bandwidth you can hire a team of developers and get your ecommerce marketplace solution written from scratch.
- Plugin-BasedTurnkey Solution: Ready to use ecommerce marketplace builder that has multiple apps and plugins to build and run an online marketplace.
- Non-Hosted Solution: This type of off-the-shelf solution requires hosting solution to be bought on top of the ecommerce marketplace builder. Also, you need to hire developers to manage the complete setup.
- Fully Hosted And Managed: SaaS-based ecommerce marketplace website builder like StoreHippo that offers a one-stop solution for building and running a multi-seller online store.
StoreHippo online marketplace platform has 300+ inbuilt features and also offers mobile apps at no additional cost. This makes it the preferred choice of B2B and B2C businesses across the globe.
Fast And Easy Method To Create Ecommerce Marketplace With StoreHippo
With StoreHippo turnkey multi-vendor solution, you can launch your marketplace website easily and in the shortest possible time. All you need to prepare is the blueprint of your business idea. Once your business vertical, area of service/operations is decided you can get started with completing the legal work to start your business.
Here is the step-by-step guide to rolling out your ecommerce multi-vendor store using StoreHippo:
Step 1: Decide the name of your business, domain name etc. and register your domain
Step 2: Choose your subscription plan and create ecommerce marketplace with StoreHippo
Step 3: Invite vendors to register and onboard your vendors, partners, distributors to your portal
Step 4: Set up vendor-specific or product-specific rules for taxes, discounts, shipping, payment options etc.
Step 5: Set up vendor commissions and payout methods
Step 6: Build social media pages and start promoting your brand across digital and physical channels
Step 7: Test your marketplace and go live
Yes, that’s all you need to do start a fully-function multi-vendor store with StoreHippo. Our battle-tested solution has been used across multiple industry verticals. We make it fast and easy for you to launch any model(horizontal, vertical or service aggregator)of the online marketplace.
How To Create Ecommerce Marketplace And Make It Popular
Once you have launched and promoted your multi-vendor marketplace website the next step is to make it popular. Here is how you can achieve this:
- Use mobile commerce applications to build mobile apps and a mobile-ready site
- Plan a variety of sale and promotion activities to attract customers
- Offer a referral bonus to your customers for bringing their friends to your portal
- Register more vendors to create a rich product catalogue with competitive pricing
- Use SEO tools to optimize your site and rank high on SERPs
- Offer multiple payment options and COD to enable faster checkouts
- Offer multiple shipping options to ensure faster delivery
When you create ecommerce marketplace with StoreHippo you get inbuilt tools to implement all the above and make your brand popular. Our SEO friendly platform and inbuilt tools help you ace your marketing to help you make your marketplace popular.
Why Choose StoreHippo To Create Ecommerce Marketplace
StoreHippo multi-vendor ecommerce platform is designed to make it easier for the business owner as well as the vendors to run their business. With our comprehensive admin and vendor modules, we automate the processes and make your whole system efficient.
Along with this, we offer an easy solution to growing your business to new markets. Using our go global features you can create multilingual ecommerce marketplace for domestic or international customers. Using features like IP based pricing and multi-currency options you can make it easier for your international customers to order on your multi-vendor ecommerce store.
When you create ecommerce marketplace with us you also get 50+ integrated payment gateways and full support for COD. Along with this, you can opt for discounted shipping using our shipping partners.
Ready to launch your multi-vendor online store?Check the various Multi-Vendor Use Cases powered by StoreHippo the best marketplace builder and explore our platform by starting your 14-day free trial.(please add utm to this link) now.