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The concept of online stores came into existence when users started using the internet other than communication while the multi vendor marketplace models have been popular for a few years when people started using the online shopping concept.
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Online Marketplace or Online Store: Which One To Choose Most of the new online sellers have a sweet dilemma of whether to go for an online store or a multi-seller website such as Amazon or eBay. The irony is that most of the online sellers don't know the difference between these two completely different platforms and consider them equal. The concept of online stores came into existence when users started using the internet other than communication while the multi vendor marketplace models have been popular for a few years when people started using the online shopping concept. In addition to that, choosing the right platform depends on many other parameters such as the nature of your business, the scope of business and others. For example, small online shopping companies start with the multi-seller marketplace whereas enterprises which deal with B2B or B2C segments choose an online store to focus on their core niches. First of all, let’s understand the striking difference between a web store and an online marketplace. Web store A web store is just an independent ecommerce website which is run by an owner and customers can directly browse products, and place orders. Here, the owner of the store takes care of all the aspects of the business. Online marketplace An online multi-seller marketplace has an owner who invites multiple sellers to list their products on the store. Here, customers can choose from multiple brands and
can get price and other benefits. All the owner needs to do is to manage the storefront and put efforts to bring more traffic to the website. Take any online marketplace in Canada and you will come to know what the online marketplace is. What to choose between an online store and an online marketplace? As we have discussed earlier, it depends on multiple parameters. However, you need to understand some of the differences these both the platforms have. Let’s dive in: Multiple sellers Vs Single Seller The online multi-seller marketplace has multiple vendors and customers can browse different product pages and compare features and prices from various vendors. Here, vendors have to put multiple efforts to win over the customers. On the other hand, a web store has a single owner and for customers, there are limited options when it comes to terms of choices, products and pricing. Also, for owners of online stores, they have to deal with limited inventory too. Large traffic Vs limited traffic Another striking difference between a single store and a multi-seller marketplace is the nature of traffic. A single online store has to make more efforts to establish a brand as it will have limited traffic. You have to work hard to bring traffic to your website which will be a continual activity. On the other hand, when you are selling your products through a multi-seller marketplace, you will need lesser efforts to create a trustable brand due to large traffic the marketplace gets. Competitive pricing Vs Single Price Option
One of the most astonishing benefits of popular online marketplaces is that you can compare prices from different vendors and choose one that you find the most cost-effective. In the case of an online store, customers will have a single pricing option. The difference in duties and responsibilities When you are an owner of the single online store, you need to take care of everything from inventory management, marketing efforts, product management and all other aspects. Also, you have to ensure that your store gets online traffic regularly. On the other hand, when it comes to the online marketplace, vendors don't have to work on various aspects such as taking orders, delivery management and returns and refunds. The online marketplace will take care of it. This is the biggest difference between both of these platforms. Conclusion: It is solely your decision to choose any of these two options. The multi vendor marketplace has many tangible advantages over a single online store. However, you need to decide based on the scope of your business, your target audience and other aspects. Contact Us Company Name: Surplus Central Address: 5111 65 St, Lloydminster, AB T9V 3L6,Canada Wide Plus Code: AB T9V 3L6,Canada Wide Phone: 780-870-0912 Email id: Sales@Surpluscentral.ca Website:https://surpluscentral.ca/
