eCommerce is the most common industry that is growing year after year. Advancement in technologies, smartphones, and the internet are the primary reasons. When you look at the successful eCommerce brands like Amazon and eBay, the most followed business model is a multi-vendor marketplace.
According to Statista, eCommerce would generate a revenue of 3.5 trillion by the end of 2021. If you want to stay afloat in the eCommerce industry, a multi-vendor marketplace is the right choice. However, if you’re going to stay ahead in the competition, you ought to choose a custom multi-vendor marketplace.
Why Custom Multi-vendor Marketplace Business Model?
Custom multi-vendor marketplace opens up many opportunities for your business. This B2B online marketplace offers unique features and functionalities that elevate the shopping experience of your customers. Below are a few reasons why you should choose the custom multi-vendor marketplace model in 2021.
- Fewer expenses – The multiple vendors in your marketplace take care of their shops on their own. Thus you will not incur any additional expense. All you should do is focus on managing the platform effectively.
- Easy cash flow – As your marketplace is tied up with various vendors, there is a free flow of cash. You can earn from the commission on each transaction and customer subscriptions.
- Variety of products – A multi-vendor store is featured by many sellers. Thus, the variety of products you offer in the marketplace is huge. This approach increases traffic to your marketplace and motivates positive purchasing behavior.
- Flexibility – Vendors can manage products, prices, and deliveries in the multi-vendor marketplace. Also, they get the flexibility to change prices according to their requirements.
Top Considerations for Custom Multi-vendor Marketplace Software Development
If you are planning to develop a custom multi-vendor marketplace open source, here are the top considerations you have to check before you start.
The custom multi-vendor marketplaces are developed using the latest features and designs. Moreover, the functionalities are customized based on user’s interests and the business plans of the owner. Thus, the marketplace is guaranteed to be user-friendly.
The development cost for a custom multi-vendor marketplace is expensive. Because it involves senior software engineers with huge experience and expertise. In addition, the feature integration will also take more time as they have to be customized and optimized to fit into smartphones.
Customization is the primary reason many business owners opt for custom multi-vendor marketplace development. Moreover, you can add any features to your multi-vendor store based on your users’ likes and dislikes.
Slow development & deployment
Custom app development takes time. As every feature and functionality is customized, the developers take a long time to code. However, there are few guides to follow and build multi-vendor quickly and cost-effectively.
Post-development support is necessary for custom app development. Bug fixes and updates have to be regular to keep the multi-vendor store running successfully. Also, when you are building scalable Apps, it is a must to have post-development support ready to be deployed anytime.
Top 3 eCommerce App Development Platforms
Custom development needs a platform with which you can explore and build the right eCommerce marketplace. Magento, WooCommerce, Broadleaf Commerce, PrestaShop, OpenCart, and BigCommerce are a few popular eCommerce platforms.
Nevertheless, here are the top three eCommerce App Development platforms you should leverage to scale up your business by building a multi-vendor marketplace app.
Shopify is a platform used to build an online eCommerce store. It helps beginners and experts to build their own online store quickly without any hassles. Shopify suits well for businesses that need a minimal level of configuration. If you need a store to sell more products, you have various plans like Shopify plus, Shopify lite, and Shopify POS to choose from.
5 Best Benefits of Shopify
- Easy setup & integration
- Visually attractive online stores
- Highly secure and reliable
- Remarkable loading speed
- Good customer support
Everyone is aware of WordPress. But, did you know that WooCommerce is an eCommerce plugin for WordPress? Yes, WooCommerce is a simple plugin that makes creating and managing an online store easy with flexible features like tax management, shipping integration, and secure payments.
5 Benefits of WooCommerce
- WooCommerce is highly customizable
- Huge official extensions
- Easy SEO
- Informative analytics
- Easy and quick designs
Broadleaf Commerce is the best commercial eCommerce solution for different business models like B2C, B2B, Marketplace, Multi-Site, Unified Commerce, and API Commerce Solutions. It is one of the most scalable solutions that can expand your operations whenever you need it. Broadleaf Commerce is an ideal choice for companies that need high-impact digital transformation at an affordable cost.
5 Benefits of Broadleaf Commerce:
- Physical sales support
- Affordable pricing
- Flexible marketing support
- Multiple business model integration
- Highly scalable platform
Cost of Custom Multi-vendor Marketplace App Development:
The cost of developing custom-tailed eCommerce solutions differs according to your unique business requirements. Thus, it is best to approach a custom eCommerce app development company like Soft Suave that offers B2B online marketplace solutions at an affordable cost. Because they provide eCommerce app development packages that fit your plans and budget perfectly.
If you are an eCommerce business owner who wants to succeed in 2021? A multi-vendor marketplace app is a befitting solution. Starting from flexibility to affordability, multi-vendor will help you scale-up your business quickly and effectively.