Marketplace Website: Why it's so successful
Growth And Popularity Of Marketplace Website Customers love Multi-Seller marketplaces for their vast range of products at competitive pricing ● Marketplace accounts for more than 50% of global online sales ● Globally customers spent $1.8 trillion on online marketplaces in 2018 ● 67% of marketplaces are generating more than $50M annually ● 32% of marketplaces are generating more than $100M annually
It’s a more promising business prospect for Entrepreneurs than a simple online store. Check out WHY?
Multi-Vendor Marketplace Vs Online Store
Marketplace
Online Store
• It has multiple sellers
• It has single sellers
• Offers a vast range of products
• Offers limited products options
to the buyers
to the buyers
• Large traffic volume
• Limited traffic
• Competitive pricing offered by
• Single price option decided by
multiple sellers
• Customer trust for marketplace can be built easily
the store owner
• Takes lots of effort to build customer trust over the years
Online Store
Marketplace • Admin/ Owner has no hassle of maintaining the inventory
• Sellers do not need to worry about
• Admin/ Owner has to build and manage the inventory
• The seller or admin has to take
launching, running and
care of building and maintaining
maintaining the technical aspects
the online store
of the online marketplace
• A range of customer and vendor protection policies
• Policies depend on the discretion of a single admin
The obvious advantages make Marketplace website conversion-oriented and less difficult to manage.
Features To Look For In Your Online Marketplace Software • Performance and Flexibility • Mobile-First Approach • Support for Vendor Management • Product and inventory management • Seller ledger for tracking seller payouts, orders etc.
Features To Look For In Your Online Marketplace Software • Tax and discount engine • Refund and return management • Pricing, Display and Search • Support for SEO and Marketing • Multilingual, multi currency features to go global The ideal solution would be a feature-rich turnkey Multi-Vendor Ecommerce Platform that allows customizations.
Types Of Marketplace Website You Can build
Niche Vertical Marketplace A marketplace of sellers selling a niche product or services
Horizontal Marketplace Brings together sellers selling multiple product lines
Service Aggregation Marketplaces (B2C) Brings together various sellers selling their services
Have a custom requirement? Want to build a disruptive Marketplace Website model? Don’t wait to roll out your dream project right away!
Offering feature-rich solutions for a variety of Multi-Vendor Ecommerce Start your 14-days FREE Trial OR Book a Demo
Email: binny.joseph@hippoinnovations.com Mob:+91-959-991-6383 www.storehippo.com