Top 5 best platforms to build an E-commerce Marketplace

Making an online store and selling on them has become a hot trend nowadays. Therefore, every marketplace platform builder strives to present and sell products on the e-commerce marketplaces. This is to boost their shares, grow their traffic, sales, and "Return on Investment abbreviated as ROI. First, merchants register with the e-commerce marketplace, and then they can exhibit and sell their products to a global audience. Then, consumers buy products from online markets, and they make the payment online. As out-turn, the e-commerce marketplace has gained significance in the e-commerce sector.Small scale businesses that purchase and sell digitally will perceive this article helpful. In addition, this blog will assist in knowing and pick out the right e-commerce marketplace options.

What exactly are E-commerce Marketplaces?

E-commerce marketplaces are online places that link together multiple customers and vendors. These e-commerce stores permit customers to identify the products and purchase them. These marketplaces can range in size from enormous platforms with a wide range of products. Small shops can vary from a single item, and you can also sell something in a specialized category.

Most e-commerce marketplaces own by big technology companies. Some belong to small businesses and private enterprises. Many marketplaces have exploded in size as a result of the COVID-19 outbreak. The trend of making e-commerce marketplaces or online stores is increasing in South Asia as well.

How do E-commerce Marketplaces Work?

E-commerce marketplaces commonly observe two methods. The first is comparable to Amazon's concept. Any buyer can look for a product from various suppliers on a single platform, which is the most well-known approach. In another way, the e-commerce marketplaces provide a digital platform for vendor's small shops. This allows customers to search indoor of individual shops, but not directly from them.

Marketplaces can sell a specific product as well. For instance, grocery and these e-commerce marketplaces can sell multiple products too. Marketplaces can also serve customers through business-t-business. But they can serve through business-t-consumers.

During the pandemic, many marketplaces started to serve directly through business-to-customer as their target business customers closed. E-commerce marketplaces commonly make a profit by acquiring a small commission on each transaction. This is because they can accept digital payments for their services. Cash payments are also the option for the customers to pay. But this reduces the marketplace's ability to collect a percentage of the transaction.

Some specific marketplaces may charge for the subscription or service charge. Few marketplaces also deliver the products directly to customers and consumers. But some marketplaces deliver products directly to stores or assembly points. Places with abject roads structure and ambiguous roads street signs can affect the delivery charges.

Why Should You Consider E-commerce Marketplaces?

Businesses can use e-commerce platforms to reach out to new clients. You can also interact with your current customers and consumers more effectively if you can meet the product standards of the e-commerce marketplaces. As a result, you can get a loyal customer for your products soon.

There are various e-commerce marketplace platforms available. You can make a multi-vendor online store with marketplace development plain-sailing.

We have listed the top five e-commerce platforms. You can build your online store with any of the following.

1: Magento Marketplace

Magento Marketplace is open-source popular for online store building. This is a very popular marketplace for building online stores. Magento is famous for high credibility, expendability, certainty, and capabilities. This platform also provides many extensions to high-charged your store with countless functionalities.

Magento marketplace also provides many extensions. These extensions transform the e-commerce business into a multi-vendor marketplace. Merchants can register on these marketplaces to exhibit their products and trade them online.

Vendors have the option to add a photo and details of the products on the e-commerce marketplace. Alongside, e-commerce can establish definite commissions for numerous categories of merchants.

2: WordPress

WordPress is a well-known platform globally. You can design an e-store with WordPress. Also, vendors can make a marketplace with WordPress efficiently. It has a huge library of pre-designed templates, built-in plug-ins, and themes. If you are not an expert but with WordPress library, you can make an online store. You can also sell out photos, different fonts, audio, and themes.

Vendors can outline and list the products they will sell online. Then, customers will buy the products, and they can pay online.

3: Sharetribe

Sharetribe is the finest platform to build an online store. You can create and initiate the multi-vendor e-commerce marketplace in just a few moments. Sharetribe is very easy to use. You can follow the simple steps to make an online store. This marketplace simplifies to sell the products and services without any big hurdle.

Sharetribe makes it easy to make an e-commerce marketplace. You can customize your store with Sharetribe as per your necessities and needs. You can also monetize your store by selling a small portion of your website's space to vendors.

Sharetribe is very convenient with the payment system. This is also one prime reason which makes Sharetribe stand out. Vendors can pay through any medium. Furthermore, Sharetribe allows a variety of payment methods. Besides this, the order organizing and customer management process are smooth and easy.

4: Drupal

Drupal is a popular platform all around the globe. Drupal is one of the reliable open-source platforms. Drupal is very effective for making a CMS website. Brands can list their products and sell them online, but Drupal is not a prominent option to create a well-matured marketplace. Drupal also offers multiple seller support. You can easily build and plan multi-vendor e-commerce online stores. You don’t need a special technical information.

Drupal authorizes listers to view their products. They can Keep track of orders and examine the sales report. E-commerce marketplace managers have the privilege to view and observe every single task of the vendors and customers.

5: CS-Cart

CS-Cart is a well-known platform to build e-commerce websites. It has a variety of themes and built-in plug-ins. Moreover, it is a multi-vendor website builder. You can create different e-commerce stores and also add features. As a result, you can make a better marketplace with CS-Cart. CS-Cart is a better option if you have limited financial resources.

Around thirty-five thousand online e-commerce marketplaces were created from scratch with CS-Cart. You can build an efficient e-commerce site. CS-Cart provides multiple tools to engage better with vendors and customers. You can experience yourself with CS-Cart multi-vendor. CS-Cart is undoubtedly more authentic and modern to make an e-commerce marketplace.

The Benefits of E-commerce

New online stores establish every day. Many people are turning to do online shopping, and these numbers are growing day by day. There are numerous benefits of e-commerce marketplaces to consumers, organizations, and society. In the old days of the traditional marketing process, customers would waste time by shopping in physical shops.

With the inception of e-marketing, customers can save tons of time by shopping online. Consumers can easily search and buy their favorite products with any online medium. E-marketing is a blessing for busy people.  They can buy anything from anywhere comfortably.

There are various causes people do online shopping. The most common is that this is a convenient way to shop. Online shopping is also an easy process for both customers and vendors. This is a win-win situation where both entities are equally getting benefits.

The main classifications for the advanntages of e-commerce

1.  Advantage to the customer
2.  Advantage to the organization
3. Advantage to the society

1. Customers' advantages of e-commerce

Consumers can buy anything from the e-commerce marketplace from anywhere. They have a free hand to buy anything regardless of timing. It is an easy option for people who do not have enough time to shop physically. Websites even make it easier by listing products in a different category. This way, customers will not have to spend time to search their products.

2. Benefits for the companies

There are no geographical restrictions. Traditional stores place restrictions on providers, making them expensive and inaccessible. Suppose a vendor is looking for new consumers in other cities, then he will need to open a new store which is costly. In the e-commerce market, there are no such limitations. With e-commerce marketplaces, brands can expand their business globally with limited investment. Companies can find new customers worldwide with the e-commerce market conveniently.

3. Advantages for the Society

In the e-commerce marketplace, consumers and customers do not need to move for shopping. Shopping online reduces the rush on streets, less transport and it results in reducing air pollution. It is also quite helpful in decreasing prices with less fixed expenditures. Costumers and consumers with lower earnings can also purchase products online. It has enabled people in rural areas to contact goods and amenities that were previously inaccessible.

Conclusion

It is a very delicate job and a skill to build an e-commerce marketplace. But you can also make an e-commerce marketplace with the help of online and open-source websites. Creating online e-commerce will take just a few minutes with pre-designed functionalities. If you are planning to make your online store, make sure you chose the right e-commerce marketplace.