The multi vendor marketplace software are gaining more attention and getting huge traffic in recent days. Even in this pandemic period, many businesses have shut down but still online stores are functioning well as it has the facility of shopping at home. This is why many entrepreneurs have turned towards multi-vendor marketplace and they started showing interest in building a website like Amazon, alibaba and eBay.
A business model for a multi-vendor marketplace
When you plan to build a website like amazon, alibaba or ebay, you should first understand what business model they have used. This will help you to reach the next level in your business as they have already succeeded using that model. Companies like amazon, alibaba and ebay have used an affluent business model. This model has helped them to grab the attention of the users and made them sell more of their products. When a product is sold by a seller in the marketplace, the admin will get a commission for that particular transaction. This is how companies like amazon, alibaba and ebay are successful.
Why is there a surge in the growth of multi-vendor marketplaces?
Every budding entrepreneur thinks on how to create a website like amazon. Because they know the real benefits they gain by owning a multi-vendor marketplace.
- More options to earn revenue
- Less expensive
- Can easily attract customers
- Hassle-free business operations
- No inventory management is needed.
The benefits of a multi-vendor marketplace
With a multi-vendor marketplace, three main sectors are benefited. One will be the business owner who owns the marketplace, the second will be the seller who joins with the marketplace and third will be the buyer who buys the product in the marketplace. Let us analyze their benefits in detail.
● To the business owner
- Without much investment, the owner can start a marketplace and he can earn easily by getting commission for each and every transaction that happens within his marketplace.
- Apart from commission received from the sellers, there are several more ways to earn through marketplace like placing an advertisement on the website, posting banners, product listing features and many more.
- The owner need not worry about the stock or its deficiency. It is all the responsibility of the seller to maintain it.
- With simple SEO optimization and less investing on digital marketing, the admin can attract more users to his marketplace.
● To the vendors
- Every start-up can easily get them registered with the existing successfully running marketplace platform and can start selling their products with minimum investment.
- The promotion and marketing part will be taken care of the admin of the marketplace platform. So there is no need to worry about getting visitors to your page.
- Can sell the product globally as the shipping and logistics can be taken care of the admin of the marketplace.
- Can get reviews and ratings directly from the customer that will help to enhance the product and service given by the vendor.
● To the consumer
- Consumers will get a variety of options to select a product. They can compare the features and the price with other sellers and can select the best.
- Consumers can have a separate account and can easily check their ordered products and transaction history.
- Consumers can track their product in real-time and can plan their schedule for the delivery.
- They get the full liberty to give their feedback about their purchase with the particular seller. This will help them to express their opinion about the product.
Implementing multi-vendor marketplace eCommerce
If you have an idea to build a website like amazon, alibaba or ebay then definitely you need to look at a few things before you get started.
- Plan the commission fee – work on the commission model and finalize with the commission fee that you will be collecting from the seller. Make sure that you will not be burdening the seller and also you will not encounter a loss.
- Set payment option –give comfortable payment options for the sellers to do the transaction within your marketplace.
- Gain credibility – make sure that the products sold by the seller meet the demands of the buyers and the quality matches the price. This will help you to retain your reputation.
- Shipping & delivery – be clear on who is going to take off the shipping and delivery process. Either the admin or the seller needs to take this process.
Requirements of a standard multi-vendor marketplace
Building a website like amazon, alibaba or ebay should possess the standard features and should fulfill the basic requirements of the multi-vendor marketplace.
Advanced search functionality – this will enhance the user interface and will give a user-friendly shopping experience for the customers.
Easy vendor registration – the vendors should find your marketplace to be comfortable so give them simple registration process
Review system – allow the sellers and the buyers to give their feedback about the product or the service they receive.
Support all products – there are several product types like virtual products, downloadable products, configurable products and many more. Your marketplace should support all these types.
Why Zielcommerce Multi-vendor Marketplace
When you focus properly and build a website like amazon, alibaba or ebay, then you can expect a perfect return and can easily leverage your business. For this, you can comfortably believe in Zielcommerce which is trustworthy multi vendor marketplace software. Zielcommerce helps you to own a perfect multi-vendor marketplace that holds all extensive features that are essential for a marketplace.
- One-time payment and own the licence
- Awesome user interface that attracts a massive audience.
- Completely SEO friendly that helps in page ranking
- Dedicated mobile app to get more visitors
- Secured payment gateways well-integrated with the software
- Easy third-party integration
- The software is secured with https and SSL.
Building a website like amazon, alibaba or ebay is very simple and easy. All you need is to have a clear idea about the market and your business model you prefer to have. Focus on your target audience and have a good marketing strategy and earn more.