Did you know that the ecommerce market of India is expected to reach $200 billion by the year 2026?
Isn’t it huge enough to enter into online business now?
Since India has already taken quite a big leap in the ecommerce industry and multi vendor marketplaces are one of the biggest reasons for this stupendous growth. Today, everyone is aware of the names like Amazon, Etsy, eBay — the big giants of the online marketplace. Even though these big names are leading the market, there are many players growing tremendously and making their presence count in the industry.
- Lower investment
- Wide variety of products
- Reduced operational efforts
- Better profit margins
- Freedom from inventory management
- Better website traffic
In this era of digitization, it is almost impossible to avoid the power of the online marketplace. The rising trend of online shopping, especially from one-stop marketplace destinations has penetrated not only the large geographies but also gaining a fast pace in smaller cities and even villages. This drastic market shift has also driven a huge demand in the development of more multi vendor marketplaces. And why not? It offers better sales opportunities to online sellers, increases brand visibility, sells in India & across the world.
If you are also willing to become the next rising star in the ecommerce market, find out the top 5 most-liked online marketplaces in India. Get inspired by these success stories to start spreading your wings in the online business.
Top 5 multi-vendor marketplaces in India
Amazon is one of the leading online marketplaces and trusted by more than 70% of the online shoppers across the country. The estimated monthly visitors on Amazon is estimated at around 322.54 million. The vast variety of products at discounted prices and multiple payment options makes this platform most popular among the customers. It also offers a wide range of own products like prime digital services, products like Echo and Alexa.
It was established in the year 2007 as an ecommerce company and deals with a wide range of different categories including apparel, electronics, books, home furnishing, gadgets, restaurant deals, and much more. With great deals and discount offerings, Snapdeal has become one of the most desirable multi vendor marketplaces.
It is a Bangalore based company and started as an online bookselling business. Soon after the great potential of ecommerce has been realized, Flipkart has expanded into various categories like electronics, mobile, apparel, games, fashion and accessories, home appliances, and more. The company has established its brand presence by offering affordable prices in the online market.
The company was founded in 2011 and has over 6 lakh registered merchants, 28 million products on the platform. Shopclues is one of the first few ecommerce market entrants and proved itself as a successful multi vendor marketplace.
It has been launched as a digital payment platform and soon entered into ecommerce with its online marketplace, Paytm mall. The company offers a wide variety of services including online recharges, payments, travel, ticket booking, shopping, and much more. The primary USP of this online marketplace is attractive discounts, cashback offers, and quick payments.
If you are also amazed at these success stories and want to build your online marketplace, this is the perfect time for you. All you need to do is choose the best marketplace builder and you are set to explore the world of online business opportunities. It is important to choose a win-all formula that can kick off your marketplace in a fraction of cost and time. Moreover, it should not be one-time support for your business but committed to creating, market, and maintain your business in the long term.
Does it all sound tricky to choose the best marketplace builder?
The top must-have features you should consider while choosing your marketplace solution
1. Easy seller registration
An online marketplace is all about its sellers. Offering a vendor friendly website with the quick and easy registration process is one of the topmost features you should look for in the platform. A good marketplace builder always ensures a smooth and easy start to the vendors and allows them to register and start selling in no time.
2. Vendor dashboard for business overview
A multi vendor marketplace platform should always empower the vendors by providing an individual dashboard. This dashboard enables them to understand their profit and losses, orders, returns, customers, and many other key business considerations. It boosts the vendors to manage their online business in a better manner.
3. Efficient online order management
The best marketplace builder should always offer a seamless order management system as orders are the heart and soul of online business. Some important order management features of the platform include sorting and organizing mechanism for orders, automatic generation of order invoices with quick sharing system, real-time order notifications, single-click mechanism to view orders, reviews, and feedback.
4. Integrated shipping solution
Shipping remains one of the most vital parts of online business and it is also an important deciding factor for customers. A multi vendor marketplace platform should be well-integrated with shipping solutions with advanced features like discounted shipping, real-time delivery updates to customers and vendors, hassle-free returns and refunds, high-speed shipping options.
5. Adaptive payments
In today’s digital world, there is a continual shift in ways of buying and selling. Like the online marketplaces allow buyers to purchase from multiple sellers in a single transaction. But is that easy to manage the payments of multiple sellers at the back-end? Yes, it is easier than ever before if you choose the best marketplace builder. With the rising prominence of the sharing economy, the adaptive payment feature is a must-have in a marketplace platform. With this option, the payment settlement of multiple sellers and commission of admin is paid automatically.
6. Unified notifications
Communication is the primary key to achieve business success and the same is true in case of multi-vendor marketplaces too. Today, when customers visit multiple communication channels like social media, email, phone, web etc. The unified notification feature takes care of the right communication to the right customer at the right time, which in turn results in customer satisfaction and loyalty with the online business.
Start your online success journey.
Now you know that starting an online business and making it a huge success requires you to choose the best marketplace builder in the first place. If you are also willing to build your online marketplace, choose the one-stop marketplace builder that offers you all the aforementioned features and benefits. Get started to see all these features in action by starting your free trial today.