Multi Vendor Marketplace Development

A multi vendor marketplace is an ecommerce marketplace that enables consumers and vendors to buy and sell their products and services online and in one place.
The marketplace platform gives the buyer a wider choice from multiple vendors and the seller a ready made base of consumers to sell to.
The difference between an online marketplace and a traditional ecommerce store is that the prior has the capability to house multiple vendors and the latter does not.

By using our custom marketplace platform, there are no limitations to growth and scalability.
Our expertise in custom software and digital product development allows you the freedom to flex your creative muscles and not be limited by dull design themes, pre-programmed tools and clunky admin dashboards giving your business ideas the freedom to flourish.

There are six typical business models that the majority of online marketplaces use:

1. Commission – A popular business model for marketplaces is to charge a commission fee for each transaction made. This can either be charged as a percentage fee or a flat fee.
2. Membership/subscription fees – A membership or subscription fee is a recurring revenue model, where buyers and sellers can be charged a recurring fee to use the platform.
3. Listing fees – A listing fee is where the seller is charged a fee when they post new product/listings.
4. Lead fees – Lead fees are similar to commission based models e.g. the customer posts a request and the providers pay a fee to bid for the customers request.
5. Freemium – A freemium marketplace can be monetised by offering premium services. For example, the marketplace could offer insurance that guarantees the item will be replaced if it is lost, stolen or damaged.
6. Featured listings and ads – Featured listings and ads are a way for sellers to buy advertising space on the website to promote their offerings.This could either be on the homepage or at the top of a specific category.

Increasing the amount of vendors and in turn the number of items listed on your marketplace, will help to grow your userbase, which will lead to more sales.
But first you must identify and understand your target audience.
Once you have a clear picture of your audience, you can start to build a database of potential vendors that can be approached directly, via email campaigns, or by utilising the power of social media – joining groups, communities and forums or through paid social media campaigns.

A typical marketplace project will take up to 12 weeks to complete. Our approach starts with the Research and Product Discovery phase, before moving into User Experience (UX) and User Interface (UI), and finally into MVP Development.
But we don’t stop there. Unlike other providers, we will guide and support you as your business grows and challenges throughout your journey.

The short answer is that a custom marketplace development will depend entirely on the features and functionality required and how mature your current marketplace platform is.
The first step in our approach is always the Product Discovery stage, from which we will better understand your requirements and create a business roadmap forward with you.

Yes. Unlike ‘off the shelf’ marketplaces, we offer you the full support of our expert marketplace and agency team. From project managers, UX designers, digital managers, developers and even advice from our in-house marketing team, a full support system is in place for your marketplace business.