Why every retailer must shift to multi vendor marketplace?

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 platform

World’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.

Top multi vendor shopping cart product categories by percentage of customers

1. Consumer electronics
   
2. Apparel
   
3. Toys
   
4. Auto mobiles
   
5. Home appliances
   

Why Laravel Ecommerce multi vendor ecommerce platform?

• Leading multi vendor marketplace platform built in Open source technologies like PHP
  
• Vendor storefront
  
• Cross platform functionality
  
• Feature rich and highly scalable ecommerce solutions
  
• Multi vendor, Multi currency and multi language supported
  

Getting started with multi vendor ecommerce platform

Multi vendor marketplace script is a multi featured extension capable of converting your normal ecommerce store into marketplace like Amazon or Etsy with multiple sellers.

POFITEC provides you support in launching your own ecommerce marketplace. Launch your marketplace with our open source multi vendor marketplace script with easy customization of features and products.