(Infographic) Importance of Multivendor Marketplace for Retail Industries

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A lot of changes have occurred in the eCommerce industry since its origin. Ecommerce nowadays has taken a faster pace. Selling own products solely to offering products from multiple-sellers is a trend ecommerce/business owners are adopting. Online stores are taking a quick shift towards Marketplaces.

Reasons of Ecommerce shift to Marketplace

• In 2016, Amazon generated 22.99 billion U.S. dollars in third-party seller service revenues, up from 16.09 billion U.S. dollars in the previous year. Seller-service revenues account for the second-largest revenue segment of the online retail platform.

• Customer Retention: In comparison to single ecommerce stores, a multi-vendor marketplace helps in retaining up to 89% of the customers.

• Revenue Boost: Sales through Multivendor marketplaces will account to almost thrice as compared to online stores by 2021.

• Huge Traffic: Multi- vendor stores helps in grabbing more traffic in comparison to single online store.

• High Conversion Rates: Multi-vendor marketplaces offer a variety of products so that your customers need not look in to the other stores thereby increase in loyal customers and high conversion rates.

• Earn High Commissions:More varieties, more offerings, more sales, therefore more commissions in your pockets.

Take a sneak peek to the Custom Writing’s Infographic below to know the Importance of Multi-vendor Marketplace for Retail Industries.

Rakesh Jain
Rakesh Jain is CEO and Co-founder of MobiCommerce, an eCommerce web & mobile app development company to build Magento Mobile App and PrestaShop Mobile App for online eCommerce stores. With an entrepreneurial experience of 14 years, he is a visionary who proactively look out for the next big thing.

1 COMMENT

  1. I agree with this article. Our company We build online marketplaces! Marketplaces similar with Airbnb, Booking, Ebay, Amazon, Etsy, Upwork, Uber, Getaround, Taskrabbit, Kickstarter, Fundable. We are experienced with Sharetribe, OpenCart, Shopify, Cocorico, CS-cart and some other platforms.

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