To gain an immense scope on online transactions and sales, any business needs to create a multi vendor eCommerce website through a professional company. Irrespective of normal websites that are generally used to get information, e-commerce websites enables the users to search and buy a product online without moving to the shop physically. It is very clear that multi vendor e-commerce websites are gaining more attention and people also prefer to buy products online. Let us check what the recent survey denotes.
- With an estimated global population of 7.7 billion people, more than 2.5 billion people are shopping online. That is around 25% shop online.
- 65% of buyers do a price comparison on their mobiles when they are in a physical store.
- 85% of buyers do online research before they do online purchases.
- Mobile e-commerce expected to reach 67% of digital sales in 2020.
Multifaceted eCommerce Marketplace business models
Business to Business (B2B)
The transaction that happens between companies can be termed as B2B business. The business is made between companies rather than an individual person. The company manufacturers the spare parts and it sells it to dealers and authorized distributors of that particular brand.
Business to Consumers (B2C)
Selling the product directly to the end-users is termed as B2C business. B2C is more than online retailing. This model includes all banking services, travel services, health services and many more. The purchase volume will be lower in B2C compared to B2B.
Consumers to Consumers (C2C)
The ecommerce that happens between private individuals is called C2C business. The product or the service is shared between individuals through a multivendor marketplace platform and transaction is done between the two.
Type of products in multi vendor marketplace websites
Before entering into the online market and developing your own multivendor marketplace platform, you need to be particular about the type of product you are going to sell through your multivendor marketplace software.
All sorts of physical products that can be touched and felt comes under this category. All tangible goods that can be shipped door to door will be considered as physical products. Clothing items, mobile devices, home appliances, etc, are all physical products.
Through multi vendor marketplace website one can also render services to the end users and these are service based products. Services like plumber, carpentering, home repair services, etc. are termed to be service based products.
Products that cannot be held come under digital products. Digital products like software, logo designs, audio & video files, E-Book, digital artworks, etc. No manufacturing or warehouse is required for digital products. Just simple digital devices will be more than enough to maintain the digital products.
Booking & rental
In this type, no product is sold, rather people can book a room or a table in a restaurant. They can book online tickets on flights, trains, etc. Makemytrip, Goibibo are the examples for this model.
Revenue models of multi vendor marketplace Website
The main objective of building a multi vendor marketplace website is to earn income out of it. There are several revenue models that works well with the multi vendor marketplace website. One needs to be sure of selecting the one that suits his business.
Commission revenue model
The vendors will need to pay some commission fee to the admin of the multivendor website at the time of selling their product. For every sale they need to pay the commission fee and this commission slab will be fixed and agreed between the admin and the vendor at the time of registration.
Advertisement revenue model
Third parties can place their advertisement in the multi vendor marketplace website and you can charge them for placing their ads in your website. This is one good source of income as this will also increase the site traffic effectively.
Subscription revenue model
This model will let the buyers to subscribe with the marketplace and they can enjoy unlimited service by subscribing with the platform either by monthly or even by yearly. Ecommerce stores like netflix, amazon prime are the examples for this model.
Affiliate revenue model
The merchants and the vendors will deal with affiliates and they will pay them on commission basis for the sale they make. This method drives qualified leads to your business. This is more trendy nowadays as even housewives can become affiliates and they can earn from home.
Things to Consider Before Launching a Multivendor E-commerce Marketplace Business
Many entrepreneurs have a common question about the steps needed to done before launching an multi vendor ecommerce website . Below is the list of things that need to be considered.
- Analyze the market – this is the foremost step that has to be considered. By doing this you will get a clear idea about the competition, your target audience, and the market demand. Without analyzing the market your business cannot survive.
- Deal with the sellers – since you are going to launch a multi vendor marketplace website you need more sellers. Without sellers, there is no point in launching the website. So you need to find out the sellers for your business. Contact them and discuss your terms with them and have a deal with them.
- Choose your ideal e-commerce platform – you need to compare it with many platforms and should come out with the best platform that suits your business. You also need to get the right pricing for the platform. Now the software developing company will take care of the rest.
- Get your domain & Hosting – only through your domain, you will be noticed all over the world. So select the domain name that perfectly matches your business and hire a reliable hosting server. To make your website go live you need to have domain and hosting. Keep in mind that domain and hosting need to be renewed periodically.
- Promote your store – to have a great launch, initially you need to make your business be visible to others. Let people know that your business is going to launch. Run effective campaigns on all social media platforms so that you can get perfect branding.
By following all the above points, you can now launch multi vendor eCommerce website. This will give you a perfect start and you can expect a great turn over within a short period of time.
Build a Multi Vendor Marketplace Website with Zielcommerce
Empower your business with Zielcommerce, a high-end multi vendor marketplace solution and start selling efficiently. It guarantees a multi-vendors website that is totally scalable and perfectly secured and holds all essential modules that the leading marketplace possesses. The multi vendor e-commerce solution offers you tons of unique functions that perfectly suits your business needs. You can start attracting business to your own multi-vendor marketplace website. Zielcommerce lets you bring entrepreneurship to your fingertips.
Highlights of zielcommerce
- Multilingual & multicurrency feature aiming global reach
- Easily customizable and highly scalable platform
- Advanced search and filtering option for buyers with easy navigation
- Dedicated dashboards for vendors and admin.
- Simplified reporting and analytics
- Online tracking with geo location mapping
- Well integrated with reputed payment gateways
- The platform is highly secured with SSL certificate
- Rating & review feature to improvise the product or service.
Features of the Zielcommerce Marketplace Platform
- Available source code – it is a one-time payment platform. Once you own the software, you can avail of the source code and it is completely customizable. When you expand your business you may need more features and at that time you can fit your application according to the requirement in the future.
- Social login – simple sign-up and login allow the guest to begin buying or selling a product on your website easily. All social media platforms integrated along with the software for easy promotion.
- Device compatible – most of the visitors visit your website using their mobile. Our application is totally compatible with all devices. So the visitors can get the perfect look and feel of the software when they use it on any device.
- Convenience – buyers can save the products they shop now and can buy later. This will save time and they will enjoy this convenience.
- Built-in CMS – you can add unlimited products and categories as it has built-in CMS. This allows you to edit and manage the products.
- SEO ready – we understand the importance of digital marketing and we very well know the Google algorithms used for website ranking. So we have built our software as SEO friendly software so that you can easily promote your business digitally.
- Live notification – buyers and sellers will get real-time notifications about the product bought and sold. This will help them to track the order. And sellers can get alerts regarding stock availability. When they run out of stock they informed prior and keep the stock updated properly.
- Analytical reporting – Analytics is the most important key to your marketing strategy. It has the integration of Google Analytics so that the vendors can have detailed reporting regarding their sales and stock. This will help them to analyze the business growth level.
More about Zielcommerce
Zielcommerce is a trustworthy multi vendor marketplace platform that is mainly developed to leverage your business. Zielcommerce marketplace belongs to the future for cutting edge features and UX focused interface. To make it globally recognized it has multi-lingual and multi-currency options. This will allow you to have customers worldwide. It also possesses a secured payment integration process that helps the buyers to purchase any product from the site itself. You will get 24/7 customer care support and you can feel that you are in reliable hands. By installing our zielcommerce multi-vendor marketplace platform that is high on features, you can increase your product sales and can generate high ROI.
Cost of multivendor ecommerce website
The cost for developing a multivendor marketplace website mainly depends on the platform you select, the complexity of the program and many more. One should be wise-enough to select the platform and be clear with the features that you need to have in your marketplace. If you are a startup then it is highly recommended to go for a readymade marketplace software that will have all inbuilt features of a multivendor marketplace.
Build your products and grow your business along with Zielcommerce. For all businessmen who plan to have the next amazon or Flipkart, Zielcommerce will be a perfect multi-vendor marketplace solution. It is time to launch your product with minimum investment. Get ready to rock the floor of the digital market with Zeilcommerce.