If you’ve heard of e-commerce platforms and webshop, then multi-vendor marketplace is just a stretch to what you’ve already known. It’s like having an online shop but instead of one seller, multiple sellers are listing their products in the platform.Think of a shopping mall with multiple sellers in it, selling in an online way.
Multi-vendor marketplace platform has the technical infrastructure to list multiple sellers and thousands of products, while typically having the vendor as an admin to manage these sellers and the products. This is also known as ‘zero-inventory model’, as the platform owners are not required to hold their own product inventory.
By 2021, one out of four people
around us is an online shopper. This number is expected to grow in the future.
If you’re a market operator or organiser, this is the time to create an online marketplace platform for your vendors.
Here are the reasons why wholesalers, entrepreneurs or brands either creating multi-vendor marketplace platforms, or joining them:
- Less investment needed for small vendors who don’t want to spend too much time and money in creating their own online store.
- The flexibility for sellers to sell nationwide or globally without making a huge investment.
- Easier growth for sellers by joining marketplaces with a huge audience base.
There are several ways on how to create a multi-vendor marketplace for your community:
1. Build it from scratch
You can either build it on your own using web-builders like Wordpress, Wix, Squarespace or use a CRM like Shopify. While the cost required is relatively low, you’ll need to do this on your own, which can be daunting if you’re not familiar with the system or time-pressured. The simplest way is to outsource this to a developer, but bear in mind it can be way costlier than using web-builders or CRM.
2. Use a ready-made multi-vendor marketplace solution
You can use a solution that’s already created from scratch, without having to worry about the technical aspect. You just need to have the sellers’ product detail and the photos, along with your vendor’s branding. The cost of this is relative, depending on the scale of the sellers.
Garchi provides this solution
while allowing you to use your own branding when setting up the store. Book a demo here
to find out more about Garchi’s online multi-vendor marketplace platform.