Ecommerce industry is changing rapidly everyday with new trends and updates. Ecommerce platform has now taken faster pace now. Selling own products solely to offering products from multiple sellers is trend ecommerce business owners are adopting. Online stores are no more demanded and they are converted into marketplaces.
Reasons for demand in
Multi vendor marketplace platformhttps://www.pofitec.com/multi-vendor-shopping-cart-softwareWorld’s biggest ecommerce giant Amazon garnered $22.9 billion in third party seller service revenues from previous year $16.9 billion. Seller service revenues are the second largest revenue segment of online multi vendor marketplace platform.
Customer retention
Multi vendor marketplace retains nearly 90% of customers than single ecommerce stores.
Revenue boost
Sales through multi vendor marketplace script will be thrice more than regular online ecommerce store by 2021
Traffic
Multi vendor ecommerce marketplace script brings huge traffic in comparison with single ecommerce stores
High conversion rates
Multi vendor shopping cart software offers different kinds of products under one roof and customers need not to look into other online store. It helps in retaining loyal customers and high conversion rates.
High commission
More varieties, more offers, more sales and therefore, more commission in your pockets.
Ecommerce statistics and trends
Ecommerce business will mostly rely on multi vendor marketplace platform for
Implementation
Ongoing management
Strategy
By the end of 2018, the mobile share of multi vendor shopping cart platform would be 40% and it is expected to reach 70% by next year 2019.
Sales through multivendor are expected to reach $4.5 trillion by 2021 and it is threefold lift in total online revenue.
