Marketplace Website: Why it's so successful

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