What is SaaS-based ecommerce marketplace platform
SaaS-based ecommerce marketplace platform is a bundle of services which includes the marketplace solution, hosting, upgrades and tech support for building, maintaining and running an online marketplace.
SaaS (Software as a Service) marketplace solution works on the licensing or subscription model. In this system, businesses can build their multi-vendor ecommerce websites using cloud-based system. This means the software can be accessed on the web browser from any device with an internet connection.
Why SaaS-based ecommerce marketplace platforms are gaining popularity?
Of late SMEs as well as enterprise businesses are preferring turnkey multi-vendor solutions over custom-built ones. There are obvious advantages of the turnkey solution like less cost, quick roll out and go to market, no coding hassle and tested solution.
SaaS ecommerce solutions make this more advantageous by offering complete software that does not require installation, maintenance, upgrade or needs to be checked for security issues. With the technical aspect taken care of, businesses can focus on growth hacking and reaching new markets.
Also, advanced SaaS-based ecommerce marketplace platforms offer better speed, flexibility and security at a much lower cost than building a custom marketplace website. This makes them the ideal choice for enterprise businesses that are planning to launch Amazon-like marketplaces showcasing a wide variety of products and vendors.
The advantages of choosing a SaaS-based ecommerce marketplace platform
Choosing the right multi-vendor marketplace solution is crucial for business sustainability and growth. The business model is very different from a regular setup and requires additional modules, flows and features to handle the complex requirement.
Multi-vendor ecommerce is inherently a challenging set up. To make it function smoothly and seamlessly, businesses need a comprehensive solution that can cope up with the changing dynamics of the markets. This process should be automatic and not involve too much effort in coding or keeping a buffer of additional resources, for example, server space to handle peak load season.
This is where the advantages of a SaaS-based ecommerce marketplace platforms come into play. Let us check out the top benefits;
Cost-Effective: The SaaS solution for multi-vendor automatically takes care of every aspect related to software ownership, maintenance and upgrade. This significantly reduces the overall cost.
Comprehensive Solution: It is relatively easy to build different modules for every business process and align them to take care of the core as well as advanced business processes.
Easy To Use: Intuitive and easy to use interfaces can be built for different levels of users. The simple learning curve makes for fast adoption.
Easily Customizable: New features and flows can be added rapidly using microservices. This makes SaaS-based ecommerce marketplace platforms the best solution for out-of-box business models.
Rapid integration: It is easier to integrate a variety of other software for logistics, payments, taxes, ERP, CRM making it the most sought after solution.
Automatic Upgrades: Frequent upgrades gives businesses a technological and competitive edge. Instead of being stuck with a rigid technology of legacy software, businesses can take advantage of future-ready technological solutions.
Easy To Add/ Remove Modules: SaaS-based ecommerce marketplace platforms make it easy to add and test new modules. Similarly, less used or less efficient modules can be discarded making the system faster and more efficient.
Increased Efficiency: By automating the processes rapidly SaaS multi-vendor software brings about increased efficiency and output throughout the business.
StoreHippo SaaS-platform comes with a built-in multivendor marketplace solution to enable enterprise brands to build their unique marketplace solutions. Build on MACH architecture, StoreHippo comes with 300+ features that help in building the most out-of-box marketplace websites for brands.
What types of multivendor marketplaces can be built using a SaaS-based ecommerce marketplace platform
A modern SaaS marketplace platform with future-ready solutions can build a variety of multi-vendor online stores for diverse business models.
Here is a list of some most popular types of marketplace models tha can be built using a SaaS marketplace platform like StoreHippo:
Horizontal marketplace wherein a single marketplace website offers vast product catalogues (physical or digital) uploaded by vendors and sellers from different industry verticals. Example: Amazon, Flipkart, Alibaba etc.
B2B Marketplace can be built using SaaS-based ecommerce marketplace platform. B2B marketplaces enable vendors, manufacturers, dealers, distributors and other business owners to sell their products and services to other businesses from a common multivendor website. Examples: Alibaba, IndiaMart etc.
Niche or Vertical marketplaces are characterised by having vendors that sell products or services from one particular niche. These marketplaces target a specific audience segment, Nykaa targets beauty and personal care buyers, and Myntra targets fashion and lifestyle buyers.
Service Aggregator Marketplace websites onboard similar or different types of service providers on a common multi-vendor online store. The service providers or vendors offer their services under the umbrella marketplace brand name. Examples of popular service aggregator marketplace stores are Zomato, Swiggy, Urban Company etc.
Rental marketplaces can also be built using a SaaS-based ecommerce marketplace platform. This type of marketplace has multiple vendors that offer their goods and services on rent to the end buyers. For example, OLA and Uber offer cars on rent.
Hybrid marketplaces are those multivendor marketplace solutions wherein more than one business model or audience segment is catered to from a single platform. For example, Amazon caters to B2B as well as B2C clients from its platform.
Hyperlocal marketplace solutions are designed to deliver goods and services quickly to a targeted audience in a limited local market, say a neighbourhood or a city. Examples of such multi-vendor marketplace websites are Blinkit, Thyrocare, Ferns N Petals etc.
Custom marketplaces can easily be built by a SaaS-based ecommerce marketplace platform. These marketplaces are tailored to the unique requirements of enterprise brands and SaaS marketplace solutions are best for these marketplaces.
StoreHippo SaaS marketplace platform offers all the above multi-seller solutions to enable, enterprise brands to build their unique marketplaces and carve a niche for their brand in the dynamic ecommerce landscape.
Why StoreHippo is the best SaaS-based ecommerce marketplace platform
StoreHippo offers the best SaaS multi-vendor ecommerce platform for a variety of use cases of the online marketplace. We have built B2B and B2C multi-vendor websites for our clients across the globe.
With 300+ inbuilt features and tools, we offer a mobile-ready solution to build multi-vendor platforms. Stores powered by StoreHippo are PWAs, which means they function as hybrid apps across all devices. Along with this one can also build mobile apps right from the dashboard without additional cost.
StoreHippo’s flexible and scalable SaaS-based ecommerce marketplace platform accommodates your business growth. We help you market your brand with inbuilt marketing tools. You can also reach new markets and experiment with new business models using our multi-store, multilingual and multi-currency features.
Along with these, you get a well-rounded solution to start, run and grow your online marketplace. StoreHippo comes with integrated payment gateways and logistics solutions.
We have powered many successful B2B, B2C and Enterprise multi-vendor portals across diverse industry verticals and geographies. Check out the various types of Multi-Vendor Use Cases powered by StoreHippo and explore our platform by starting your 14-day free trial.