Why every retailer must shift to multi vendor marketplace?

Ecommerce industry is changing rapidly everyday with new trends and updates. Multi Vendor Marketplace has now taken faster pace now. Selling own products solely to offering products from multiple sellers is trend, ecommerce business owners are adopting. Online stores are no more demanded and they are converted into marketplaces.

Reasons for demand in Multi vendor marketplace platform

World’s biggest ecommerce giant Amazon garnered $22.9 billion in third party seller service revenues from previous year $16.9 billion. Seller service revenues are the second largest revenue segment of online multi vendor marketplace platform.

Customer retention

Multi vendor marketplace retains nearly 90% of customers than single ecommerce stores.

Revenue boost

Sales through multi vendor marketplace script will be thrice more than regular online ecommerce store by 2021

Traffic

Multi vendor ecommerce marketplace script brings huge traffic in comparison with single ecommerce stores

High conversion rates

Multi vendor marketplace software offers different kinds of products under one roof and customers need not to look into other online store. It helps in retaining loyal customers and high conversion rates.

High commission

More varieties, more offers, more sales and therefore, more commission in your pockets.

Ecommerce statistics and trends

Ecommerce business will mostly rely on multi vendor marketplace platform for

• Implementation
• Ongoing management
• Strategy

By the end of 2018, the mobile share of multi vendor shopping cart platform would be 40% and it is expected to reach 70% by next year 2019.

Sales through multivendor are expected to reach $4.5 trillion by 2021 and it is threefold lift in total online revenue.

Top multi vendor shopping cart product categories by percentage of customers

1. Consumer electronics
2. Apparel
3. Toys
4. Auto mobiles
5. Home appliances

Why Laravel Ecommerce multi vendor ecommerce platform?

• Leading multi vendor marketplace platform built in Open source technologies like PHP
• Vendor storefront
• Cross platform functionality
• Feature rich and highly scalable ecommerce solutions
• Multi vendor, Multi currency and multi language supported

Getting started with multi vendor ecommerce platform

Multi vendor marketplace script is a multi featured extension capable of converting your normal ecommerce store into marketplace like Amazon or Etsy with multiple sellers.

QONOTECH provides you support in launching your own ecommerce marketplace. Launch your marketplace with our open source multi vendor marketplace script with easy customization of features and products.

Online multi vendor marketplace is reached new heights in Ecommerce business. To enhance your online business store you need mobile apps on the go to connect with customers. Today every Ecommerce store is inclined towards having a built in mobile apps for business growth. Famous online Ecommerce giant such as Amazon, Alibaba and much more has unique mobile apps to connect with mobile customers. The best reason is that online transactions are happening at store front and at the same time on mobile app.

Recent studies states that mobile app traction is higher when compared to website. Ecommerce giant Amazon have highest share rise during holiday season. Nearly 72% of their online customers shopped through their mobile devices only.

That’s why it’s best to have a mobile app for your ecommerce store

Creating Multi vendor mobile app

Creating mobile application in multi vendor ecommerce platform in Open source can be well utilized. This stand alone platform is wise to choose and educate non-technical person about using this mobile app.

Why open source platform?

Open source provides high quality, flexibility and reliability with low investment cost. This is the best reason why majority of Ecommerce businesses choose multi vedor marketplace software. Choosing right multi vendor marketplace comes as first to succeed in ecommerce business. After choosing best platform you have your free store front. Now question comes up, how to convert your web store into marketplace?

Assume that you have used Laravel ecommerce multi vendor marketplace platform for developing website. You are done with multi vendor website and need to develop mobile application for multi vendor marketplace. For creating mobile application Laravel ecommerce comes up with open source solutions. It has stunning feature packed in open source ecommerce mobile app for ecommerce marketplace. App builder support and fits well for your marketplace requirements. Multi vendor mobile app works well for web store and online marketplaces.

How does mobile app works?

After purchasing this extension you have your multi vendor marketplace application work in following ways

• Customer View/Front

Mobile app builder is full featured customer centric online mobile application.

Customers can purchase their products from various vendors under same check out

• Browse Complete Product Catalog

• A complete access to customers.
• Add/Delete products from the Cart.
• Access to the Wish list.
• Purchase various products from different vendors.
• Order Notifications.
• Push notifications.
• E-mail Notifications.

Customer Panel

This part will provide a complete customer profile management

• View ordered products
• Manage their Account
• Change Password
• View their Order Information

Some of the features that the app will provide

• Store front
• Each merchant have their own store front where their products only displayed
• Build your brand
• You can build your own brand with our white labeled mobile apps
• Source code
• Leverage the power of ownership over source code for both Android & IOS apps. 

Recent statistics show that the mobile applications result in more traction of traffic than website itself for a multi vendor marketplace. So it's vital and at the same time very important to have a multi-channel mobile app option to get your sales increasing.