What is a marketplace E - Commerce Solution? (and how it works)
– Recently, with the increasing development of advanced technologies, traditional retailers or models are continuously keeping up with to change into the newer and more modern ones, or simply speaking, they are multivendor marketplaces. In fact, Traditional E-commerce stores have only shop owner and customers. In contrast, in an online marketplace, there are a couple of other objects:
• Marketplace owner
• Vendors/Suppliers (in case of B2B)
• Logistics and warehouse manager (In case of Big marketplaces)
• Shipping provider
In addition, in some cases, there are others as well, like dispute manager (in cases of refund or returns)
– Multivendor marketplaces are known as large scale E-commerce stores where multiple vendor can sell their products and services. Vendors take care of day-to-day sales operations like inventory and shipping. You, the merchant, can focus on drawing customers and increasing marketplace brand recognition.
The Multivendor marketplace offers:
• Multiple vendors sell goods, services, rentals, or download through one online store.
• Instantly increase your product offering when vendors add new goods.
• You control the marketplace and vendors through a single dashboard.
• Vendors have their own dashboard for handling orders and products.
– Multiple sales channels: E – Commerce platform is no longer a single channel business online, just get into our marketplace and launch your product in several channels. This helps you to create your brand image, sell under your brand name, attract multiple traffic channels, always get your stocks available for your customers through one or the other channels and in that way have a continuous growth in sales.
– Availability of a vast range of products: There is a massive range of products that are being sold in a marketplace and is featured by a multitude of vendors. An E – Commerce store is expected to drive maximum traffic to the site along with significant sales.
– Everything gets automated: Owning a multi-vendor store would not create such chaos for the admin to manage everything. The multivendor store allows the necessary tasks to the respective vendors and manages each task seamlessly. Through multivendor marketplace, online product launching on marketplace is no longer a task of challenge with order placement to invoice receipt all being centrally managed.
– Sales and Analytics: When every detail for your online business can be centrally managed and tracked, the report generation or the analysis of your business strategy and sales trends gets easier. By that, we help you to stimulate your growth and get proactive of the market trends and continue your profits
– Fewer operation costs: When opening a multi-vendor marketplace, there is no need to invest time and money in designing products, maintaining inventories, or managing logistics. All of those are the responsibility of the sellers operating in the marketplace.
– Easy inventory management:The cost of warehouse and human resource management can be the most challenging task in any E – Commerce start-up. Multi-vendor marketplace allows the vendors to handle their inventories and the complications related to them.