Securing capital is the lifeblood for your marketplace. While it does require determination and hard work, there is no need for it to be painful. With PwC expecting the industry to grow from its $15 billion estimated overall value to $335 billion by 2025, it is a better time than ever to get investors on board.
Starting a new multi-vendor marketplace venture might seem daunting at first. Creating a business plan, setting out a budget and hiring a team might feel like a mammoth undertaking to begin with. Thankfully, there are plenty of tools and pieces of wisdom out there to make things much easier.
That means that knowing how to invest wisely in your marketplace is now more easier than ever. And what’s more, you won’t have to cut corners when it comes to quality. Here are some steps for how you can make the most out of your budget and set your platform up for success.
As a marketplace owner, there are two actions that form the foundation of your business: acquiring buyers and growing a quality seller base. Without these two pillars to ensure stability and growth, your business model will fail. To put it simply, a great marketplace is nothing without great vendors.
There is a lot to consider when it comes to selecting and then acquiring sellers. To help you on your way, we have compiled a few steps on how to set out a plan for acquiring, and keeping, the best sellers possible for your multi-vendor marketplace.
The marketplace industry is expected to grow from its current $15 billion estimated overall value to $335 billion by 2025. That makes now a great time to invest in a new marketplace business. However, for many, launching a marketplace can feel like a daunting task. The back office, vendors and buyers are all separate facets that must be carefully considered pre-launch. All of this can make launching your marketplace seem a stressful, almost overwhelming, undertaking. The truth is, it doesn’t have to be.
Before the dominance of e-commerce, shopping was traditionally a tactile experience for consumers. That explains why clothing stores have fitting rooms, book stores allow a flick through, and wine galleries hold tastings. Some of these experiences clearly are not replicable online, but with 60% of sales happening through online marketplaces, online retailers have to find a way of recreating this interactivity with products prior to purchase. The answer? High-quality photos. Indeed, images are more important than ever in getting consumers to buy a product.
The marketplace industry is currently going from strength to strength. 60% of digital sales are carried out through online marketplaces already and the number of new marketplaces is growing rapidly. With the sector becoming increasingly competitive and customers placing high demands on UX, the importance of technology to the success of a marketplace has never been bigger. As a result, choosing the right software to power an online marketplace has become a space all of its own. With so many different options available, it can be challenging to select the right marketplace technology for a particular business. To help marketplace owners decide on the type of platform for them, in this article we have focused particularly on why Software-as-a-Service (SaaS) solutions are the way to go for new marketplaces.
“Frictionless” vendor onboarding and management, “transparent” vendor transactions and commissions, and effortless catalogue management are some of the glowing remarks Shopery Marketplaces received from software review platform FinancesOnline. In recognition of these achievements, we were awarded with the Premium Usability award for 2019.
Original content published by Ecommerce Foundation: ArticleMany of the world's most successful companies operate under marketplace models: Airbnb, Amazon, Uber, Etsy. Indeed. With the constant evolution of marketplaces, Ecommerce Foundation decided to interview Eduardo Aznar, Chief Growth Officer at Shopery. Together, we discussed the relevance and impact of marketplaces in today’s ecommerce society. Shopery empowers leading ventures and brands to build and scale their marketplace businesses through a SaaS solution.
Branding is just as vital to a marketplace as finding the right sellers, measuring the right metrics, or choosing the right revenue model. Whilst there is no single consensus on the definition of marketplace branding, a marketplace’s brand can be thought of as the personality that identifies the business.