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.
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.
Technology is the backbone to any digital business, let alone marketplaces. Indeed, choosing which technology will power the marketplace business is as important as deciding on the revenue model or how to brand the marketplace. A marketplace can be built using several different technology solutions: from open source software that the marketplace’s engineers can code themselves, to a SaaS e-commerce solution like Shopery. This is not a choice to be taken lightly: once you have picked your marketplace technology, it will have a sizeable impact on your budget, your in-house talent needs, internal processes and the overall scaling of your business.
“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.