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Important Features For Fashion E-commerce Marketplace

ECommerce has shaped the global retail market. Today eCommerce across multiple categories accounts for trillions of dollars of sale globally and shows no signs of the downtrend. Online Fashion Marketplace is one of them. The online fashion market is expected to grow at 12.2% per year and reach a total market size of US$991.64 Billion by the end of 2024.<br><br>So, if you are planning to start an eCommerce marketplace for fashion or apparel, then you must have a good knowledge of the most important features of such marketplaces. <br><br>Learn about the must-have features of an online fashion marketplace through this document.<br>______________________________<br><br>If You Want to Start an Online Fashion or Apparel eCommerce Marketplace? Start it Today with Yo!Kart Multi-vendor eCommerce Platform. Book a free one on one Demo: https://www.yo-kart.com/request-demo.html<br>

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Important Features For Fashion E-commerce Marketplace

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  1. Must-Have Features For An Online Fashion Store

  2. 1 ONLINE FASHION INDUSTRY TRENDS    According to the Fashion eCommerce Report by Statista, the online fashion  market is expected to grow at 12.2% per year and reach a total market size of  US$991.64 Billion by the end of 2024.    Don’t you think these numbers make it one of the most hotly contested markets  in the world?    The reason behind the explosive growth in this sector is the innovative  technologies that have created online shopping an experience worth count.  The global fashion industry is moving towards the decisive phase of digital  adoption with growth in major countries across the globe. Here’s a quick  overview of Fashion eCommerce Industry Statistical data:    With a market volume of US$348,700 Million in 2020, most revenue is    ● generated in China    ● In the Fashion segment, 30% of the total market revenue will be   generated through online sales by 2024.    ● The average revenue per user (ARPU) in the Apparel segment amounts   to US$172.23 in 2020.    Starting an online fashion marketplace can turn out to be your best investment as  factors like ​lower digital barriers, emerging worldwide population with a lot of  disposable income​ and ​super convenient mobile apps​ account for growth and  futuristic opportunity in this industry. 

  3. 2 MUST-HAVE FEATURES FOR AN ONLINE  FASHION MARKETPLACE    Before launching your online fashion marketplace, you should carefully  analyze the important features of your platform to reduce the chances of  complexities that might occur.    Here is the list of must-have features for an online fashion marketplace:    1. Customization: ​The preferences of the customer keep evolving from  time to time so it is necessary that your eCommerce platform is fully  customizable. It helps in the scalability of your business.  2. Payment Gateways:​ Multiple payment gateways make it easy for users  to order products instantly online. 

  4. 3   3. Product Catalog: ​The product catalog feature allows the eCommerce  marketplace owner/admin to control and manage as many catalogs as  possible.     4. Multicurrency: ​The biggest benefit  of a multi-currency platform is that  it helps a lot in global expansion by  providing the customers to buy  products in their preferred  currency.    5. Analytics & Reporting: ​This feature  is extremely important to review  the performance of your  marketplace and to make future  strategies.   

  5. 4 6. Seamless Product Management:​ A strong and robust product  management easily allows the marketplace owner to manage the  products.  Here are the features that benefit the customer:  1. Review and Rating​ is an innovative way to gain social proof that  persuades customers to buy online.    2. Streamlined Checkout​ process is directly linked with the conversion  rate for an eCommerce marketplace.  3. Rewards and Discounts​ have been highly  effective in encouraging customers to  shop online.    4. Mobile Applications​ have been proven to increase customer  engagement and retention.  5. Smart Recommendations​ helps in personalizing the user shopping  experience and thereof increasing the conversion rate of your  eCommerce store.  6. Responsive Layout​ brings more visitors and conversions.   

  6. 5 Here are the features that help the sellers:  1. Display Advertisements​ on  the marketplace banner  enable sellers to promote  their product/shop.   2. Robust Vendor Dashboard  allows the vendor to quickly  analyze sales reports and product performance reports.  3. Multi-Store Functionality & Brand Creation​ can help in maintaining  multiple stores.  4. Import/export feature​ allows vendors to easily import/ export  product files that contain the product  information.     5. Tax Management​ for managing and  customizing tax categories rates for the  products.   6. Inventory Management​ makes it easy to  manage inventory via the seller’s console.    Do You Want to Start an Online Fashion or Apparel eCommerce  Marketplace? Start it Today with Yo!Kart Multi-vendor eCommerce  Platform. Book a free one on one Demo:  https://www.yo-kart.com/request-demo.html  Content Source:  https://www.yo-kart.com/build-fashion-multivendor-marketplace.html 

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