In Multi-Vendor Online Marketplaces, Customers do find more choice for products. However , this is not the only reason for more sales in Online Marketplaces or Multi-Vendor eCommerce platforms. There are several other reasons that attracts more sales in Multi-Vendor eCommerce platforms, when compared to Single Vendor. Let's study how.
In Single Vendor, the Owner of the eCommerce is more driven towards promoting their brand, rather than products.
While in Multi-Vendor, the control is with the Vendor. These Vendors will make their product pages SEO optimized, thus making it easier and faster for the end-Customers to find the most appropriate product that they are actually looking for.
However, the Vendors should know the importance of the best SEO practices for applying it properly while adding the products.
Spurtcommerce has this provision for the Vendors to add the Meta tag title, Meta description and the Meta keywords for making the product search more relevant and easier for the end-Customers.
A Single-Vendor eCommerce becomes more like a monopoly marketplace, with not many choice for products and no competitive pricing. The end-Customers end up paying the price that has been shown for the product, without an option for comparison.
In Multi-Vendor, a comparison can be shown between the same products from different Vendors. This creates a competition among Vendors. In order to create market for their products, Vendors will start offering discounts and coupons, thus encouraging the Customers to buy the products from them.
Spurtcommerce has the provision for creating coupons in the Vendor Portal. The Vendor can create a coupon code with a title, and mention the percentage or amount reduction on the actual price of the product. They can also specify the validity period for the coupon, the minimum purchase amount for applying the coupon and also set the usage limit for the coupon.
In Single Vendor, the shipping options are usually defined by the Owner. In Multi-Vendor the shipping options are given by the Vendors. Vendors will always try to give the best options, and in the interest of the Customers so that the Customers do not end up paying more for shipping.
In Spurtcommerce, we have provided two options for the Vendors to define the shipping methods. The Vendors can have their own delivery persons, who can ship to different locations. Alternatively, they can associate with third party shipping companies like FedEx or DHL and just provide the tracking information to the Customers.
Even the small scale and medium scale business owners, who do not want to have their own eCommerce platform, but still want to sell their goods and services online, can associate with the Multi-Vendor eCommerce platforms, and start selling their goods and services there. Even then, the Vendors will not lose their identity in the online marketplace. Vendors will have a page for themselves, where a profile speaks about them.
In Spurtcommerce, every product detail page will also display the Vendor name. On clicking on the Vendor name, another page opens up, where the Customer can see other products listed by the same Vendor. Also, Vendor can set up a profile for themselves from their portal. They can also upload their documents to show that their store on the Online Marketplace is legitimate.
To know more about the features in Spurtcommerce Multi-Vendor Online Marketplace solution, that can boost your online sales, request for a demo schedule today at https://www.spurtcommerce.com/multi-vendor-ecommerce-marketplace