6 Things you Should Know about Online Marketplace | StoreHippo

6 Things you Should Know about Online Marketplace Ecommerce Guide

What Is An Online Marketplace ●

Online Marketplace is an ecommerce website where Multiple Sellers sell their goods or services.

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The Admin/Owner manages the portal and gets a commission on each sale.

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Customers love Online Marketplaces as they get a range of products at competitive pricing

Looks like a promising Business idea? Want to know why it's so popular?

Advantages Of An Online Marketplace

Admin/Owner

Sellers

Customers

● No need to maintain inventory

● No setup cost for taking the business online

● Rich product catalogue to choose from

● Earns commission on each sale

● Gets the pre-built traffic of the marketplace

● Get products at competitive prices offered by various sellers

● Full control of vendor management

● No need to spend on SEO, marketing and brand building efforts

● Additional benefits due to large scale operations of the online marketplace

Advantages Of An Online Marketplace

Admin/Owner

Sellers

Customers

● No hassle of maintaining logistics, products upgrade, etc.

● No hassle of maintaining technical team, support staff etc.

● Can buy multiple product, brands etc. in a single order

● Easier automation with efficient business management

● Provides an additional online sales channel for brick-n-mortar shop or own website

● Guarantee and trust of the marketplace brand

● Gives the flexibility to explore free shipping and returns, discounts etc.

● Freedom to test buyer acceptance for new products

● More discounts and deals

Features To Look For In Your Online Marketplace Software ●

Admin and Vendor dashboards

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Vendor Management and approval flow

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Product and Inventory management

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Seller Ledger for tracking Seller Payouts, Orders etc.

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Seller page on frontend to help Customers

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Order and Shipping management by Vendors

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Vendor-specific Shipping and Discounts

Features To Look For In Your Online Marketplace Software ●

Adaptive payments to pay different Sellers of a Multi-Product order

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Returns and Refunds management

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Integrated Logistics and Payment channels

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Tax and Discount Engine

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Refund and Return management

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Multiple Notification channels to notify vendors, admin and customers

The ideal solution would be a feature-rich turnkey Multi-Vendor Ecommerce platform that allows customizations.

Types Of Multi-Vendor Marketplace You Can build Niche Vertical Marketplace Sells a niche product or services

Types Of Multi-Vendor Marketplace You Can build Horizontal Marketplace Sells multiple product lines

Types Of Multi-Vendor Marketplace You Can build Service Aggregation Marketplaces (B2C) Sells services of various sellers

What’s your business idea? Choose any of the above or go for an out-of-box business model to disrupt the market!

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