Covid19 has highly disrupted a lot of offline businesses and has given rise to online businesses. This is why most retail owners think about starting a multi vendor eCommerce website as they have already turned their minds towards the eCommerce market. The multi vendor platform has attained too much attention mainly because of the numerous benefits it has given to the sellers as well as the buyers.
Let us find out the stats of eCommerce marketplace growth and know why entrepreneurs think about starting a multi vendor marketplace.
- With an estimated global population of 7.7 billion people, more 2.5 billion people are shopping online. 25% shop online.
- 65% of buyers do a price comparison on their mobiles are in a physical store.
- 85% of buyers do online research they do online purchases.
- Mobile e-commerce expected to reach 67% of digital sales in 2020.
Know What is a Multi vendor Ecommerce Website?
A multi vendor eCommerce platform is connects multiple sellers under one roof. The multi sellers will sell their products and buyers will visit the multi vendor website and will buy the products of their choice. The admin of the marketplace will promote the platform & will grab the attention of the buyers & handle all payment transactions is done within the platform. If you plan to create a multi vendor ecommerce website, first you need to understand what it is all about.
Multi-faceted eCommerce Website Business Models
An eCommerce platform supports various product & service marketplace that focuses on connecting buyers and sellers under a single roof to provide a turnkey solution that can meet the business requirements.
Whether your startup an established business, to create a multi vendor marketplace website, now easy with our features and perfection to build and scale your business model.
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 multi vendor marketplace website and transaction is done between the two.
Types of Products To Sell In Multi vendor eCommerce Websites
The best part of beginning an online store is that you can sell virtually anything you want. You need to be particular about the type of product you are going to sell. Here the multi vendor ecommerce website examples
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 eCommerce 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.
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 booking and rental-based 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 is the example for this booking & rental model.
Revenue Models of Multi Vendor Ecommerce Website
Many eCommerce marketplace vendors embark on an entrepreneurial journey with the chain of ecommerce activities following the realistic business model, generating revenue through such business activities.
Revenue models are positively critical in architecting the right strategy on how to build a multi vendor ecommerce website
The following list of marketplace revenue models set the ball rolling by structuring your monetary activities.
Commission Revenue Model
The vendors will need to pay some commission fee to the admin of the multi vendor 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.
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.
Advertisement Revenue Model
Third parties can place their advertisement in the multi vendor ecommerce 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.
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.
How to Build Multi vendor Ecommerce Marketplace Website
Many entrepreneurs have a common question about how to start a multi vendor ecommerce website steps needed to be done launching a multi vendor 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.
- Marketing strategy – Online ecommerce businesses the competition is heavy, to be apart and get yourself out there is essential your ecommerce marketing strategy focus on attracting people looking for products and actively using various outbound strategies to get people to want to find you. Email marketing is a cornerstone part of the target audience.
- Deal with the sellers – You are going to launch a multi vendor ecommerce website you need more sellers. Without sellers, there is no point in launching the website. 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 need to get the right pricing for the platform. Now the multi vendor ecommerce website development company will take care of the rest.
- Get your domain & Hosting – only through your domain, you will be noticed all over the world. 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.
- Payment Gateway – The Payment option is one of the things you should consider building your multi vendor website Presenting your customers with a variety of payment gateways will ensure customer satisfaction from your store & remove the probability of a consumer being lost.
- 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 you can get perfect branding.
Following all the points, know how to make multi vendor eCommerce websites. This will give you a perfect start for an eCommerce store and you can expect a great turnover within a short period of time.
Essential Features of Multi Vendor Marketplaces
With less effort, anyone can build a multi vendor website, but to succeed in the market, your website should possess all essential features that will facilitate all user groups like admin, sellers, and buyers. Let us have a clear look on the crucial features that are to be present in any multi vendor marketplace platform.
Simple registration process – provide easier registration procedures for your vendors as most of them may not be technically strong. If vendors find difficulty in joining your ecommerce marketplace platform then they will search for some other multi vendor websites. By this, you are giving opportunities to your competitors to grab your vendors to their platform.
60% of multi vendor platforms lose genuine vendors because of their complicated registration methods. Pay more attention to building a multi vendor website with an easy-to-access registration form.
Advanced search feature – take your customers directly to the product page through your advanced search feature. Buyers have already used many leading multi vendor platforms like Amazon and eBay. They will expect the same accessibility in your platform.
To compete with the market you need to provide advanced search and filtering options that will facilitate buyers to reach the exact page. This tool will increase your conversion rate. Famous multi vendor marketplaces like Amazon, eBay use this tool and there is a 23% increase in their sales.
Reviews & ratings – around 78% of online buyers search for reviews before they buy any product from any multi vendor platform. If they are convinced with the review then without any hesitation they will buy it online.
Make sure you build your multi vendor marketplace platform with review and rating features and allow customers to share their feedback about the product and your platform service. Try to get positive feedback by providing delightful services.
Easy commission setup – create a multi vendor website that supports multiple revenue models. 65% of multi vendor platforms contain commission fee revenue models. This model has more financial benefits for the admin as well as the vendor.
Make the commission plan to be flexible and let it vary from vendor to vendor. You cannot set a fixed price as commission value; instead, you can analyze the product value and can fix the commission accordingly.
SEO-friendly – there is no point in creating a multi vendor website that is not SEO-friendly. Any project you run online needs to be search engine optimized. Only then you will be listed in the top searches made in any search engine.
Websites that are listed in the top 3 places of the search have a 90% chance of getting orders as most people will click those sites and will do the purchase. Websites that are listed on the 2nd or 3rd page will have a very low chance of making an order. To build a perfect SEO-friendly multi vendor platform to get more visibility.
Mobile responsive – usage of smartphones is unbelievably high. For every search on the net, mobile phones are widely used. 56% of multi vendor websites face a high bounce rate due to their non-responsive mobile design.
Understand more about your audience and provide them a perfect multi vendor marketplace platform that is device compatible. Else you may fail to reach the major user group who are mobile users.
Kick Start your Multi vendor Ecommerce Business with Zielcommerce
Zielcommerce is a hassle-free multi vendor marketplace platform that can help you to create a multi vendor eCommerce website that fulfills all your business demands. Zielcommerce will offer you a new way to buy from your online store and you can easily build a multi vendor website like Amazon, eBay, and Alibaba etc.
Zielcommerce comes with power-packed comprehensive features that are essential in starting a multi vendor marketplace website. These features will simplify the complicated tasks and will let you handle the platform efficiently. Also ensures optimum management of processes to the admin and will make you gain complete control over the website. is mainly developed to leverage your business. 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 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. Installing our zielcommerce multi vendor marketplace platform is high on features, you can increase your product sales generate high ROI with your multi vendor ecommerce website.
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.
Zielcommerce Multi Vendor Ecommerce Website Features
Build your unique multi vendor ecommerce website innovation with built-in & custom modules. Marketplace platform is essential to know how to create multi vendor ecommerce website, connects vendors & consumers with one another to perform transactions.
Available source code
it is a one-time payment platform. You own the software, you can avail of the source code and it is completely customizable. You expand your business you may need more multi vendor features and at that time you can fit your application according to the requirement in the future.
Intuitive UI/UX design
Grab the attention of visitors and make them stay in your website for a long time with the responsive and highly customized UI/UX design. Many multi vendor marketplace have failed and felt difficult to survive in the market. Zielcommerce will support you to survive well.
simple sign-up and login allow the guest to begin buying or selling a product on your multi vendor ecommerce website easily. All social media platforms integrated along with the software for easy promotion.
Dedicated mobile apps
Mobile users are more comfortable in using a mobile app rather visiting the multi vendor website. Zielcommerce has clearly understood the trends and the customers’ buying behaviour and have come out with exclusive mobile apps to push your business to the next level.
Secured payment integration
When you plan to create a ecommerce website & will be expecting more sales and ROI. This factor mainly lies on how well you integrate the payment gateways with your multi vendor ecommerce website. Zielcommerce provides complete comfort to the users by integrating the leading payment gatewaysin a secured way
we understand the importance of digital marketing and we very well know the Google algorithms used for website ranking. We have built our software as SEO friendly software you can easily promote your business digitally.
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. Run out of stock they informed prior & keep the stock updated properly.
Separate seller panel
retaining the sellers is one of the challenges that every multi vendor marketplace faces. Zielcommerce not only helps you to create a multi vendor website but also will support you to retain your sellers by providing a separate space that will facilitate the sellers to display their products and will understand the performance of their business through the dashboard.
Analytics is the key to your marketing strategy. It has the integration of Google Analytics the vendors can have detailed reporting regarding their sales & stock. This will help them to analyze the multi vendor business growth level.
Cost of Building Multi vendor Ecommerce Website
If you want to know about the multi vendor eCommerce website price, the cost depends on the platform you select. Zielcommerce’s best eCommerce solution for your store to grow your business. We offer you designed and fully customizable themes with the integration of different payment gateway service providers and many more.
If you are a startup it is highly recommended to go for a readymade marketplace software that will have all the inbuilt features of a multi-vendor ecommerce website. We can customize the solution offered to suit it better to your business needs.
Let your dream of starting a multi vendor business come true after you analyze and implement all the above mentioned tips. Have a dedicated team that can handle the leads generated through your multi vendor ecommerce website and can get you more conversion.
Now it is easy to build your products and grow your business with Zielcommerce. For all businessmen who plan to have the next Amazon or Flipkart, Zielcommerce will be a perfect multi vendor marketplace solution and user friendly. It is time to launch your product with minimum investment. Get ready to rock the floor of the digital market with Zeilcommerce.