Starting an ecommerce business has increased because minimal investment is required to set up a new business. Only knowing of the online business working procedures is not enough to start. You must figure out what type of ecommerce model customers prefer. Market demand, budget, and planning are also vital parts of it.
Multi Vendor
We already know from our previous post that multi vendor ecommerce is a platform where the different seller sells their product under a storefront. Also, it generates healthy revenue through category commission, delivery, promotion, or by giving extra facilities to the seller.
Besides delivery process could take extra time since multiple entities are involved in it. However, overall it’s an opportunity to reach out to tons of customers.
Multi Store
Multi store ecommerce systems allow you to start and manage multiple stores from a single platform. For instance, you have a clothing brand that selling its product from a single website.
But if you use the multi-store model then you could create multiple stores, each for a certain area. Those stores may have personalised offers, designs as per the location.
Advantages
Centralized Monitor:- All stores are handled by a centralized master portal. This will allow you to updates anything at a store or each of the stores.
Direct to the consumer:- If you are a manufacturer who tries to avoid retailers then multi-store eCommerce is the best solution. To fulfil local demand there must be a digital presence for data collection, reach out directly to the customer.
Target Marketing:-Through multi-store, you are allowed to target marketing to your audience, marketplace, and audience. The targeting will be base on their interest not on general marketing.
High Conversion rate:- While going for a targeted marketing strategy who is already interested then definitely the conversion will be high.
Expand geographically:- Since you can create storefronts in different regions hence the product could be displayed according to the region’s culture. Also the price and content should be in the local language. In some time you will expand globally.
Drawback
- When you are managing store functionality from a single platform it’s a bit time-consuming to handle customer data, catalogs, inventory. Meanwhile, you have to expend extra cost to overcome it.
- The brand manager has to reply to messages from each store and multiple portals. Which is a bit critical as one online store manage all store.
- Multiple stores resources need to be filled that may require extra time, money, and manpower.
To Conclude
You own a brand or a single vendor eCommerce website that can expand your business through multi-store. Besides if you would like to be untied from sourcing or manufacturing then multi vendor is the best choice for you.
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