Major Advantages of Multi-Vendor Stores Over eCom Shop
Recent trends show more Multi-vendor stores have been set up than eCommerce shop. This has come about as many businessmen have realized that investing in such stores are more beneficial than eCom shop. Before I list out the advantage this store has, let me briefly explain them to you.
A multivendor marketplace is an online store where multiple vendors come together to sell their products thus making the profit. Popular E-com brand such as Amazon, Etsy, Alibaba has incorporated this model in their business.
Advantages of using Multi-vendor stores –
More products for visitors to choose from: As there is a number of vendors using the same marketplace, visitors have a wide range of option for a single product, and he can choose the one suitable for him. Furthermore, visitors have various filtering, rating, and review system about the product which helps them distinguish between products and sellers. This leads to higher traffic and boosts your sales as well.
Easier to operate: It doesn’t require much work either. For a seller, he is selling his product on a pre-hosted website. For the marketplace owner, he is operating a multivendor management portal.
Cost Effective: A multi-vendor store is launched on a cloud, and the owner doesn’t need to worry about the technical configuration or hire people to do so for him as he doesn’t need a separate server installed. Moreover, each seller manages their own store, hence you don’t need to hire a separate development team. Thereby cutting down the cost significantly and you can focus more on your marketing strategy.
Easy inventory management: This is a very laborious task for anyone. Many times, people list items in their inventory but don’t have them in their stock. As the marketplace is mostly cloud-based, the merchant doesn’t need to go through the meticulous task of updating the inventory regularly.
Easy Delivery mechanisms: Either the owner of the multi-vendor stores’ setup his own delivery system or the list trusted delivery company who delivery product quickly and safely even to the farthest of place cheaply. Timely deliveries are very important for a successful eCommerce website and often are the downfall for many single eCommerce websites.
Multiple warehouses: Just like the delivery system, owners can set up their own warehouses or list trusted one on their website. Ensuring hassle free and friendly environment for sellers which brings in more seller and reach of your store.
Tempting deals and offer: Much like Amazon and Flipkart big sales, owner of multi-vendor stores can set up their own big sales where sellers give tempting deals and offer to products. Such sales bring in huge traffic, generate astronomical sales when compared to other days in the year. It is advantageous for everyone involved as seller and owner earn huge profit and customers getting products for low prices. This makes your customer visit you more regularly for further buying.
Hence it is quite clear, that such stores are user-friendly and have more sales generating features than eCommerce shops.