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Two years ago, only about 17.8% of sales happened online. But by 2022, that number is expected to go up to around 21%. That’s a big increase of about 17.9% in just two years! and it’s not stopping there. By 2025, it’s predicted to reach around 25%. That’s a growth of about 6.7% in just five years.
These numbers show that the demand for making purchases online is getting higher and higher. Businesses are seeing this trend and want to jump on board by selling their products through online marketplaces.
So, if you’re a business looking to step up your game, now’s a great time to invest in the right technology and create your own multivendor marketplace website. A multivendor marketplace has a lot of benefits for customers and is meeting the growing demand for online shopping as it keeps changing and evolving.
But why a multi-vendor marketplace?
A multi-vendor marketplace website is a platform where many different sellers can sell their products. It’s beneficial for manufacturers, wholesalers, and retailers because they can reach more customers. Sellers can create their profiles and add as many products as they want. If you want to expand your business globally, it’s a good idea to build a scalable multi-vendor marketplace that you can customize easily.
Also Read – Mastering the Essentials of Account-Based Marketing for B2B Success
Do all industries have to adopt this technology?
In the UK, there are about 64 million people, and 82% of them use the internet. Did you know that online sales in the UK reached 157 billion euros in 2015? This shows that businesses need to adapt to new strategies and use online channels effectively.
If your business wants to grow, you need to update your strategy. Ignoring new technology trends means missing out on opportunities to attract customers. If you stick to traditional methods and don’t embrace platforms like eBay or Amazon, your sales could suffer, and the future of your company might be at risk.
To succeed, your business must keep up with the latest trends and technology.
How does a business benefit from building a multi-vendor marketplace website?
1. More Products ~ More Customers
A multi-vendor marketplace website is like a big shopping center where many sellers can set up their shops and sell different things. This makes it easy for customers to find everything they need in one place.
Because of this, lots of customers like to shop on these websites where they can find a variety of items. Sellers also like these websites because they can reach many customers without much hassle. That’s why developing a multi-vendor marketplace website can be a good idea for a business.
2. Easy Inventory Management
For a new online store, managing warehouse and staff costs can be tough. But with a multi-vendor marketplace website, each seller handles their own products and stock. This helps startups save money in the beginning. Instead of worrying about storage and staff, they can concentrate on making their website better and growing their business more efficiently.
3. Low operation cost
When you create a multi-vendor marketplace website, you don’t have to worry about handling logistics and inventory. The sellers on your website take care of all that.
So, you can concentrate on building and advertising your business on social media and expanding it globally through the website. Plus, since the sellers manage their own stuff, you don’t need a big team, which saves you money on operating costs.
4. Automates Process
Running an eCommerce store involves a lot of work, like managing logistics, adding products, setting prices, and keeping track of inventory. But if you have a multi-vendor store, it’s much easier to handle everything. This type of website lets different sellers and vendors take care of their own tasks smoothly. It saves time and effort for business owners by automating tasks and reducing the need for manual work.
5. Boost in sales
Marketplaces can make a lot of sales because they offer many different products and have many customers. They earn money by taking a percentage of each sale made by vendors. The more sellers there are, the more sales the marketplace can make, and the more money it can earn in commissions.
Also Read – Revolutionizing Logistics: The Digital Transformation of Supply Chains
Takeaway:
Creating a multivendor online store needs good technology and a lot of money to get started. This can make some entrepreneurs hesitant to start. But if you want to make a website that works for a lot of customers, Darkbears is the best place to get it made just for you.
