Want to Run your Own Marketplace on Shopify? It’s not going to be easy

Essential features on your Online Marketplace
Essential features on your Online Marketplace
  • From a business perspective, abilities like managing little to no inventory, rich product choice for buyers, simplified logistics have contributed to its popularity.
  • It’s also a very scalable business model and requires less financial risk.
  • Marketplace owners can choose their own revenue stream that best fits their niche.

No Shortcuts to Success

  • How to persuade other sellers to bring their stock to your marketplace when there are no buyers yet?
  • How would you attract clients when you don’t have any inventory?

What can you do?

  • Start an online marketplace right from scratch with your own development team.
  • Or look for turnkey solutions provider which can help you get started with your endeavours.
  • Data & Insights — Helps you to make informed decisions on your particular platform with relevant data and findings
  • Seller Payouts — This lets you automatically pay the sellers their dues, securely and accurately
  • Payment Gateways — Multiple gateways make it easier for buyers to complete the transaction
  • Email Marketing — This is necessary for your online marketplace to grow and attract more business
  • IntegrationsPlatform should let you integrate necessary ERP/CRM tools to help you run your marketplace more efficiently.
  • Marketing Services — Not only email marketing but other aspects of marketing should also be accommodated to create targeted and strategic marketing campaigns to reach out to more buyers.
  • Tax Rules — Different sellers on your marketplace would have negotiated different taxes and commissions to use your platform. So a good tax engine would be critical to handle multiple partners on your platform.
  • Accounting — Financial operations should be streamlined using accounting tools to keep track of your business accounts.
  • Ratings and Reviews — This is another important feature you need for running a successful marketplace. Ratings and reviews can help cultivate a level of transparency among the consumers for the marketplace.

Some of them can be -

1. The website might slow down and need longer loading time.

2. Installing multiple plugins can cause conflict in your website.

3. Using a lot of plugins can be costly and undermine your budget

4. Themes used in add-ons may be incompatible with the theme used in your Shopify backend.

5. Seeking proper support might get messy.

6. Limitations of respective apps

7. Finding the right app

8. Installing the application can be risky.

Conclusion

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He is an ecommerce expert with 7+ years of experience.With hands-on experience of handling B2B and B2C ecommerce projects

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Abhishek Aggarwal

Abhishek Aggarwal

He is an ecommerce expert with 7+ years of experience.With hands-on experience of handling B2B and B2C ecommerce projects

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