5 Must-have Multi-vendor Marketplace Features To Outreach Your Competitors in 2021

Creating a marketplace is one thing and generating revenue from it on a consistent basis is another. Every marketplace needs good features and a well-defined marketing strategy to keep generating revenues on a consistent basis.

If you are nurturing an idea of creating your own multi-vendor marketplace, you should ensure your marketplace has the following list of marketing features to outrank your competitors:

Multi-vendor Marketplace Features To Beat Your Competitors

1: Daily Deal:

This may surprise many but it can be a great way of driving traffic to the business if done in the right way. One can offer a kind of promotion that actively expires at a set timeframe — which you specify through your eCommerce store.

With this feature on your multi-vendor marketplace, you can attract new customers while retaining the original ones. It will help you build a customer base rapidly and boost conversions.

2: Gift Card:

Nearly 90% of American shoppers have given a gift card during or after the online purchase. Reportedly, the whole volume of gift cards is projected to hit nearly $200 by 2021.

Gift card has emerged as the second most prime marketing feature that one can’t simply ignore. So if you’re one among those who seek to create a stunning marketplace in today’s eCommerce market, don’t ever underestimate the importance of gift cards for online eCommerce business.

3: Gift Wrap:

Today, most shoppers prefer to buy gifts online. Your customers too. So if want them to buy from you, make sure that you offer them a lot. If you miss the opportunity to provide the gift wrap, then even your loyal customers will buy from your competitors, remember that.

Hence, if you are curious to scale your online marketplace business, make sure you have a gift-wrapping option on your site, If not try to integrate it to your marketplace site today. Surely it will help you to boost and scale sales and brand value.

4: One-Step Checkout:

One-step or seamless checkout is better than other user interface functionality. One-step checkout is a must-have feature on your marketplace.

The aim of this feature is to reduce the complexities of the checkout process and allows your customers to check out with just a click — making it easier for them to purchase goods from your marketplace. Ultimately, one-step checkout enhances the overall CX while increasing conversion rates.

5: Related Products:

Up-selling and cross-selling is an evergreen strategy of growing sales by promoting your top-selling products. Ensure that your marketplace has a feature with the help of which you can display relevant products to your customers. This way you can grow your business exponentially.

Final Words…

If you are seeking to create an online marketplace with all the above features incorporated — Webnexs is your way ahead. Built on the world’s leading eCommerce platform Magento 2, Webnexs is a ready-made multi-vendor marketplace for businesses seeking to thrive online.

Wit Webnexs, you get all the features for your eCommerce marketplace required to keep your store revenues high in any economy. It’s quick to set up, easy to customize, and user-friendly. Moreover, it comes with ready-made mobile apps for both vendors and shoppers to make things even easier! By far, Webnexs is the most flexible enterprise-class multi-vendor marketplace solution to realize your eCommerce vision.

Give us a shout and let us help you in creating an evergreen marketplace.