Considering the popularity of multi-vendor marketplaces, many aspiring entrepreneurs now want to launch similar stores like Amazon, eBay, or Airbnb. However, starting an e-commerce marketplace is not a walk in the park. In this post, I will try to explain each and every thing about online multi-vendor marketplaces.
What is a multi-vendor marketplace?
An online multi-vendor marketplace is a platform where various merchants from different locations sell their items or products under a roof. The owner of the marketplace handles the transactions work, whereas inventory is managed by the sellers.
Interesting Stats about Online multi-vendor marketplaces:Based on gross merchandise, Taobao is the most popular online marketplace in the world.Amazon is the leading marketplace in the USA.More than 300,000 third-party sellers started selling on Amazon in 2017.A better price is the leading reason why people prefer to buy on online marketplaces.31% of first-time shoppers prefer to buy on online marketplaces.Revenue cut by marketplace operator is the leading reason why merchants prefer to have their online stores.