A custom marketplace is a digital platform that brings together multiple sellers and buyers, allowing them to engage in transactions within a single online space. Unlike an ecommerce store, a custom marketplace is designed to facilitate transactions between multiple sellers and buyers, creating a more collaborative and dynamic online shopping experience.
In this blog post, we will explore the benefits of building a custom marketplace, and why it may be a better option for your business than a traditional eCommerce store. Whether you are a startup looking to launch a new platform or an established business looking to expand your digital presence, building a custom marketplace can help you unlock new opportunities and achieve your goals.
- Limited revenue potential (Limited number of products).
- Additional costs for product sourcing, warehousing, and marketing.
- Handling inventory & warehousing management.
- Managing shipping and fulfillment problems.
- Handling customer support.
- Difficulty to stand out and attract customers.
- Poor Google ranking (SEO).
- Increased revenue potential (commission on each sale).
- Variety of products and services that attract a broader range of customers.
- No need to create your own inventory, or handle shipping, warehousing and customer support management.
- Marketplaces can scale and be able to handle increasing levels of traffic and sales.
- Enhanced user experience allowing users to browse multiple vendors and compare products.
- Reduced marketing costs as vendors are responsible for promoting their own products.
- Better Google ranking (SEO).