A senior digital marketer and ecommerce marketing. analyst.
Search Google for the highest revenue-generating e-commerce stores, you’ll find names like Amazon, eBay, Walmart, Ebay, etc. All these online
stores work on different business models but the one common thing among them is that they are all multi-vendor marketplaces.
Considering the popularity of multi-vendor marketplaces, many aspiring entrepreneurs now want to launch similar stores like Amazon, eBay, or Ebay. Also, the COVID-19 pandemic has fueled online sales of Amazon or other marketplaces. As per the stats, in the pandemic, Amazon received 35% of all online sales in the UK.
The one primary reason people prefer to buy from multi-vendor marketplaces is the competitive environment, where a consumer has the leverage to compare products of different sellers and buy at the best price.
However, starting a multi-vendor marketplace is not a walk in the park. In this post, I would like to explain each and every important thing of an online marketplace that definitely help you to start your multi-vendor store easily in 2021.
What is a Multi-vendor Marketplace?
An online ecommerce marketplace is a platform where various merchants from different locations sell their items or products under a roof. The owner of the marketplace handles the transactions work & logistics and whereas inventory is managed by the sellers.
Interesting Stats about Online multi-vendor marketplaces:
Stats source: statista.com
How does a Multi-vendor Marketplace Work?
Types of Multi-vendor Marketplaces
Mainly, there are 3 types of online multi-vendor marketplaces.
B2B multi-vendor marketplaces: B2B marketplaces are those where the sellers sell products to other businesses at a wholesale rate. On B2B marketplaces, customers prefer to order in bulk quantity. Alibaba or Walmart are the popular B2B multi-vendor marketplaces.
B2C multi-vendor marketplaces: B2C multi-vendor marketplace is a platform where various sellers sell their products or services to customers on sale. Amazon or Flipkart are the popular names in the online B2C marketplaces.
C2C multi-vendor marketplaces: C2C marketplaces are those where customers can sell their products or services directly to other customers. Ebay, Taobao are the best examples of C2C marketplaces.
Also, there can be some other multi-vendor marketplace business types such as digital products marketplace, B2B2C marketplace, etc. that you can consider starting in 2021.
Revenue Channels in a Multi-vendor Marketplace for a Business Owner:
There can be multiple revenue generation channels on an online multi-vendor marketplace. However, it can be changed depending upon the nature of a business.
How Products and Services are delivered in a multi-vendor marketplace?
Why multi-vendor marketplaces are preferred over single stores
Benefits for sellers or vendors:
Benefits for customers:
Benefits for the Marketplace Owner:
Must-have features in a multi-vendor marketplace
Important features from an Admin point of view:
Important features from a seller point of view:
Important features from a buyer point of view:
How to start an Online Multi-vendor Marketplace:
You can start an ecommerce marketplace either by building it from scratch or using the readymade solutions. Building a multi-vendor marketplace from scratch is a time-consuming process and requires a lot of investment. However, with the help of readymade or turnkey solutions, you can launch a multi-vendor marketplace in a few hours and without any technical knowledge.
Here is a list of best multi-vendor e-commerce platforms in 2021:
When it comes to starting a multi-vendor marketplace, Yo!Kart stands high. It is a dedicated multi-vendor marketplace platform to successfully launch ecommerce marketplaces like Amazon, eBay, Alibaba, etc in 2021. It is a fully customizable ecommerce platform that comes with a wide set of features.
Yo!Kart offers lifetime license and 1-year free technical support on all the pricing packages.
Yo!Kart Best Features:
Shuup is a new entrant in the multi-vendor industry. The multi-vendor platform offers many attractive features that make it stands high in the list of multi-vendor ecommerce solutions.
Shuup Best Features:
Cs-Cart is another powerful multi-vendor platform that was started in 2005. The multi-vendor software is used by thousands of businesses to build different types of online marketplaces.
Cs-Cart Best Features
X-Cart is a popular open source e-commerce platform. With X-Cart you can easily start single or multi-vendor stores.
X-Cart Best Features:
To see the detailed feature comparison of top multi-vendor platforms, read this post: https://www.business2community.com/ecommerce/top-multi-vendor-platforms-to-start-an-online-store-like-amazon-ebay-02181880
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