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How to build a Multi-Vendor E-Commerce Platform like Amazon?
Today, our life has become impossible without the use of the internet. Yeah!! The internet is playing an important role in everyone’s life. Starting from paying bills to ordering food online, our life activities depend on the internet. Likewise, the multi-vendor e-commerce industry is the one that has started blooming. Many Entrepreneurs are interested in and started investing in this industry.
The next era is going to be all about making an organized change in the unorganized sectors. In the past, when the population was countable it was easy for the public and the business people to buy things and it was not difficult for shopping. But due to the increase in the population, only technology can assist the process of shopping. This was the time, were the concept of online shopping emerged.
What is Multi-Vendor E-Commerce?
It is a type of e-commerce site where product or service information is provided by multiple third parties, whereas transactions are processed by the marketplace operator. Here multi vendors are gathered in a single platform. So that the user can able to find various types of products and a user can buy the best product at the best price by comparing the quality and price with the other vendors on the platform.
According to the statista of 2012, the Asia-Pacific has increased its international sales to 30% and giving them a revenue of over $433 billion. This revenue was $69 billion greater than the U.S revenue of $364.66 billion. And also in 2013, the Asia-Pacific increased its revenue by 30%.
Country % Retail Sales Online
United States 9.8%
United Kingdom 20%
Why Multi-Vendor Market Place?
There are several things that make the multi-vendor market place a highly successful one. Let’s see some of them,
1. The customer can buy a product by seeing the rating and reviews by the other customers who already brought that particular product.
2. The worldwide customers accepted the concept as this idea made their lifestyle even easier.
3. In this sector, there is no new inventions are made, rebuilding the applications is the only thing that made a bigger difference.
Differences between Single and Multi-Vendor E-Commerce Business
Today people are giving more preferences for multi-vendor buisness. But both the single and multi-vendor business has their own features.
1. In a single vendor, you need to send more and energy in bringing your own ideas and strategies but whereas it multi-vendor it takes less time.
2. In a multi-vendor, the user can track their product and gets more price suggestions so that the user is able to get the product at the best price.
3. In the multi-vendor platform, the revenue is divided between the admin and the vendor.
Here you can let ‘n’ number of vendors to make use of your platform the sell their product and earn more revenue than a single vendor.
Why Amazon Clone?
Now it is clear that starting the Multi-Vendor E-Commerce business is the cleaver idea. But what is the reason to choose amazon as the business model? Let me give you a clear answer,
The growth rate of amazon has been increasing throughout all these years. North American net sales were increased by 34% that is from $18.87 billion to $25.45 billion. The third-party seller revenue was $5.65 billion in International net sales of $13.71 billion, an increase of 29.2% from $10.61 billion. Undoubtedly, this shows the success rate of Amazon very clearly.
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Disclaimer : Startupmart neither represents nor has command over the trademark of "Amazon". We are not doing any promotional activities and we use the term only for understanding our product. Our motto is not to harm any organization or individual.
Muthu Priya is a enthusiastic Digital Marketing Executive who has strong background on-demand mobile app marketing, performance-driven habits and forward-thinking creativity to all programs she oversees. She writes about mobile app technologies, Startups, Industires. Stay in touch with the blog updates at Startupmart to know the trends of On-Demand Industry.