Selling online has become a very successful and increasingly important business strategy for sellers who want to increase monetary revenue.
Talking about marketplaces in the e-commerce era means mentioning large platforms such as Amazon, Alibaba, Ebay and Aliexpress.
They are large virtual platforms where the user can purchase any type of product (from cosmetics to IT products, from books to clothing).
If you have an E-commerce and intend to increase your turnover, you could make your site a Multi Vendor Marketplace.
A Marketplace can be an important part of your commercial and marketing strategy, making it the most successful.
Let’s see together how you can make your site a Multi Vendor Marketplace and why you can increase the sales of your E-Commerce!
Multi Vendor Marketplace: How Do They Work?
Multi Vendor marketplaces are platforms where sellers can offer products and have them purchased by users.
But let’s go in order. The marketplaces can be divided into two main types:
- Vertical marketplaces: that sell sector products and for a specific target. An example: Etsy is the most famous craft products marketplace.
- Horizontal marketplaces: i.e. marketplaces that sell a bit of everything, large containers that offer the sale of numerous types of products (Amazon)
What distinguishes both marketplaces is the affiliation system: all sellers will have to join these platforms, then create a sort of shop within the platform itself.
You are probably wondering why a seller should rely on such platforms.
First of all, Multi Vendor marketplaces are very large platforms, with huge user traffic, so there is a greater chance of selling a product through this channel.
In addition, the Marketplace represent the evolution of E-Commerce, they have gained a certain credibility over time, both as regards the mechanism of shipments, and for the simplicity of purchase.
Multi Vendor Marketplace: what are the benefits?
If you do not have an E-Commerce, but still intend to sell online, the marketplace is the ideal choice to achieve several advantages:
- you can create very effective product data sheets through a pre-set structure that facilitates the seller, with titles, short and long descriptions, photographs, etc.,
- you can manage your warehouse, orders and packaging,
- if you sell a product that has a lot of competition, the Marketplace Multi Vendor allows you to get showcases in which to offer the product at more advantageous prices.
- receive feedback from customers about the product you sold,
- propose abroad: the marketplaces are also well positioned in various international markets,
- increase sales and monetary income.
Make your site a Marketplace Multi Vendor: why is it important?
Simplify business transactions
The lack of technical knowledge pushes the majority of sellers on the market to rely on a Multi Vendor Marketplace and to exploit its potential.
The features of a Multi Vendor Marketplace can make sellers feel as if they are using their own website.
The easy inventory management, payment options and order management can simplify the entire commercial transaction for sellers.
Inventory management is the biggest problem for all online sellers.
This is another reason that makes them hesitant to face the multi-vendor market.
Sellers can enter data and keep track of inventory and provide a warning message when the stock is below a certain limit.
Better understand the needs of the target
Opening a store on a Multi Vendor Marketplace means getting an idea of the most palatable goods from web users and starting to observe what competitors are selling and at what price.
It is a more practical and economical method of sale compared to a proprietary E-Commerce.
Learn how to make ad hoc product sheets
Product sheets are essential for the success of a shop. We need brief but exhaustive descriptions, quality photographs and all the details.
Thanks to detailed product sheets it is possible to facilitate buyers, who can conclude the purchase in the most conscious way possible.
It is good to inform customers when the order has been approved, processed, shipped and / or ready for delivery.
If you then add the tracking number to the order, customers will feel even more secure.
Multiple payment options
Giving customers the freedom to choose the preferred payment method will not only improve their shopping experience, but will also encourage them to close the order immediately.
Are Multi Vendor Marketplace the future of online shopping?
Multi Vendor Marketplace are large online stores, in which various sites specializing in the sales of a specific product or a very wide range of goods come together.
Multi Vendor platforms allow you to order all types of products imaginable from different brands online.
For each individual product it is possible to search for different models and brands and allows us to choose between different brands, since it hosts many online stores that deal with this product.
It could be said that instead of going to a small shop specializing in a single type of goods, the Multi Vendor Marketplace allows you to go to a large “supermarket”, which offers us a wider range of products.
This allows the user to search for the desired product at an affordable price by comparing the various stores and looking for offers, all in one site, avoiding further research and therefore saving time.
The Marketplace Multivendor platforms are easily achievable as they are almost always based on open source software that allow you to monitor the goods purchased online by tracking, making it possible to track the path of the products ordered thus giving further reassurances to users of the service.
Another extremely important thing is that this software is able to adapt the platform to all devices, be they mobile or fixed, another essential requirement in these times of the moment that many people buy directly from their phones connected to the internet.
Simplicity of use, ease, speed and cheapness are the advantage factors that make Multi Vendor Marketplace absolutely winning and the future of online shopping.