Online Market Place and its numerous benefits

by Smitha Adarsh

Mar 23, 2020

Multi-Vendor Online Market Place has several benefits that we are going to discuss in this article. eCommerce does has offered numerous benefits to a large number of users in various manners. For manufacturers, it is an approach to reduce the expenses of finding new customers and then making their shopping activities simpler.

For end-customers, eCommerce has offered a great advantage of searching for the best deals and shopping with complete optimization. This advantage of Customers is in return a great advantage to the Merchants.

More happier the customer is with the online shopping experience, more popular an eCommerce platform becomes among the end-customers.

Advantages over single vendor platforms

An eCommerce platform with a Single Vendor is not anymore good with the rising number of eCommerce users.  eCommerce Industry is now in a developing pattern that is unimaginable. In addition to having an eCommerce platform with one Vendor, most of the brands like Amazon or eBay discovered a way for offering a better online shopping experience to their Customers. That is not all; they likewise help fortify the connection among merchants and online shoppers.

Reach out to a large number of Customers

An online market place can invite more number of Customers for obvious reasons. A single Vendor will have limited capacity for production or manufacturing. Thus they end up listing comparatively fewer products on the platform. This results with limited choice to the end-Customers for purchase. Also, a monopoly gets created wherein, the Customer will not be able to find better deals on the eCommerce platform.

In a Multi-Vendor Online Market place, apart from the eCommerce business owner themselves as a Vendor, they invite other Vendors in the market to list their products on their eCommerce platform. This results in a large number of products, giving a wide range of choice to the end-Customers. Also, the Customers can compare the same product from multiple Vendors to find the best deal. This will increase the popularity of the platform, inviting a large number of Customers.

More bargains through coupons and discounts

With rising competition among the Vendors, every Vendor will try to attract Customers towards their products. They start offering discounts through coupons to invite Customers to buy their products. This will in turn increase the sales on the eCommerce platform, bringing revenue to the Vendors as well as to the Owner, through commission.

You can have reliability programs

You can have reliability programs like Amazon Prime. Amazon has evidenced its Prime users spending  more time shopping on their eCommerce platform, than the ordinary non-prime members.

Higher conversion rates and lesser bounce rates

From the SEO perspective, Multi-Vendor online market place has several benefits. With a wide range of choice and also with a large number of deals, most of the visitors to the platform, do end up shopping. This will increase the conversion rate and also decrease the bounce rate. Even if a visitor does not buy a product from the platform, you will at least find them spending more time on the platform, browsing through the products and available deals.

Quality focused

With large number of Vendors in the platform, selling the same products, they will be conscious about the quality of the product they list on the eCommerce platform. The Vendors will make sure that they list only the top quality products so that they do not lose Customers to their competitors or other vendors on the platform.

More returning Customers

When more Customers do end up making a purchase on the eCommerce platform, there is a good probability of them returning to the eCommerce platform again and again. This is because, they are confident that they will find the best product, the best deals and they can definitely find what they are looking for.

Transparency

By allowing Customers to compare the same products from the different vendors and giving them the freedom to find the best deal at the lowest possible price, you are ensuring transparency on the eCommerce platform.

Spurtcommerce Multi-Vendor Online Market Place solution comes with all the standard features to run a full-fledged online market place. To learn more, visit https://www.spurtcommerce.com/nodejs-shoppingcart-ecommerce-multi-vendor

Smitha Adarsh