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Proven Ways To Roll Out A Successful Multi-Vendor Ecommerce Marketplace

Multi-vendor ecommerce marketplace model has emerged as a clear winner in the ecommerce field with over $1.8 trillion dollar in global sales. Entrepreneurs looking for fast growth are increasingly adopting this model to improve their prospects of success. <br><br>To carve a niche for themselves in the competitive marketplace scenario one needs a feature rich multi-vendor ecommerce platform. Going with a flexible turnkey solution is a smart choice as it reduces the complexities of development and improves business efficiency by automating processes. Check out this comprehensive guide on starting a multi-vendor marketplace along with the must-have features in your multi-vendor ecommerce platform.<br>

binnyjoseph
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Proven Ways To Roll Out A Successful Multi-Vendor Ecommerce Marketplace

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  1. Proven Ways To Roll Out A Successful Multi-Vendor Ecommerce Marketplace Ecommerce Guide

  2. Global Customer Tilt Towards Multi Vendor Ecommerce Marketplaces • Marketplace accounts for more than 50% of global online sales Customers worldwide are showing a clear preference for Online Marketplaces. • 32% of marketplaces are generating more than $100M annually • Globally customers spent $1.8 trillion on online marketplaces in 2018 • 67% of marketplaces are generating more than $50M annually Wondering what is causing this shift?

  3. Why Multi Vendor Ecommerce Wins Over An Online Store? Multi Vendor Marketplace Vs Online Store Marketplace Online Store Multiple vendors Single Vendor • Unlimited product options for buyers • Limited product options for buyers • Huge traffic volume • Limited traffic • Single price option decided by the store owner • Competitive pricing offered by multiple sellers

  4. Multi Vendor Marketplace Vs Online Store • Admin/ Owner is free from the burden of investing in inventory Marketplace Online Store • Admin/ Owner has to allocate a budget for inventory Easy to build customer trust for the marketplace brand Has to build customer trust from scratch over the years • Sellers are free from the burden of taking care of technical aspects of running the online marketplace • The seller is the admin and has to invest in building and maintaining the online store • Limited policies and protection for buyers and sellers • Broader customer and vendor protection policies The inherent advantages of Multi-Vendor Ecommerce make it a suitable Business Model for Entrepreneurs

  5. How To Launch A Multi Vendor Ecommerce Marketplace 1) Build it from scratch 2) Turnkey Multi Vendor Ecommerce Requirements: Dedicated technical team Longer development and testing time Cost Intensive Requirements: Off-the-shelf Multi-vendor ecommerce solution Faster development and go-to-market Budget-friendly Clearly, a turnkey solution is a smarter way to roll out your Online Marketplace

  6. Checklist For Choosing The Right Multi Vendor Ecommerce Platform Before you go for a multi-vendor solution check if it offers the following: • Performance and Flexibility • Mobile First Approach • Support for Vendor Management • Pricing, Display and Search • Support for SEO and Marketing Look out for a Multi-Vendor Ecommerce platform, with tools that offers you all the above features

  7. 5 -Steps To Roll Out Your Own Multi-Vendor Marketplace • Create a free-trial store to check the features • Once satisfied, choose a plan and pay your subscription • Get help from support staff to set up and take your marketplace live • Add sellers to your Multi-Vendor ecommerce marketplace • Define the seller ledger rules, commissions etc. That’s it and you are done! Start marketing your brand and wait for the order to pour in

  8. 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

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