Introduction
Online shopping culture is growing rapidly in recent days. People are getting used to this lifestyle and feel more convenient. As a result, today we can see thousands of multi-vendor marketplace platforms available in the market.
Though several online marketplace software emerged in the market, only a few were able to survive. More market understanding and strategic planning are needed to make an online marketplace platform stand out in the market.
Now let us check out the top and leading multi-vendor marketplace software that has always been an example to any budding marketplace platform.
Amazon
The magnificent and unbeatable ecommerce marketplace software started its operation in 1995 and was founded by Jeff Becoz. Initially, the marketplace sold books online and later has framed the business to a perfect multi-vendor platform, and currently, the company holds 41 subsidiaries and brands.
Amazon is a cloud-computing giant that has opened its market in all departments, and it has surpassed more than 120 million subscribers worldwide at the end of 2020. The reason behind its success is, the company provides better customer service, maintains effective inventory, and assures on-time shipping and delivery.
Flipkart
Flipkart is a well-established and recognized multi-vendor eCommerce platform that started functioning in 2007. The company was founded by Sachin Bansal and Binny Bansal. This online marketplace platform holds more than 30 million products under multiple categories. The platform has 46 million active users and platform carries 8 million shipments every month.
This online marketplace software has recorded more than 10 million daily page visits and has been ranked in the top 5 eCommerce companies in India. Better product assortment and lower product prices have made this multi-vendor platform dominate the market and gain the trust of millions of customers.
eBay
eBay is another reputed and versatile multi-vendor eCommerce platform that started its operation in 1998. It has survived well for the past 20 years and is known as one of the oldest multi-vendor software in delivering online products and services. The platform matches buyers and sellers of goods and has shined well as a global auction portal in the market.
eBay follows the C2C business model, and it is available in different countries. By entering your zip code, you can find products that are available for sale in your local region. Users can create an eBay account for free and can use that account for both selling and buying products. If a user plans to sell products, then he needs to pay the listing fee to this multi-vendor eCommerce platform.
Etsy
Etsy originated in the United States, founded in the year 2006, and the marketplace platform is well-known for selling handmade and antique products. As the platform sells unique products more traffic is recorded, and the visitors’ count is always high. Today, the company has more than $360 million of total funding.
This marketplace platform follows vertical selling as it focuses only on crafted items. The platform shows steady growth by recording 33% revenue growth and 50% growth in seller services. 1.7 million sellers avail themselves of Etsy offers and build their brand effectively among their target audience. Advanced technologies like machine learning are widely used in this marketplace platform.
Zomato
Zomato is an Indian-based multi-restaurant service and food delivery platform founded in the year 2008. This multi-vendor platform offers on-demand food delivery service to customers and connects service seekers and service providers in a better way. Users can explore a wide range of restaurants and hotels in their nearby area and can get fast delivery of food.
This online marketplace software holds a huge database of thousands of restaurants by covering more than 10000 cities across the globe. Users can access Zomato either through its dedicated mobile application or through its website. This marketplace platform has multiple revenue channels that support generating a better profit margin.
Uber Eats
Uber Eats is an active multi-vendor marketplace platform that covers more than 1000 major cities all over the world. The platform connects customers with reputed and listed local restaurants. Uber Eats is a sub-brand of Uber, which is an on-demand cab service provider. Uber Eats follow a hyperlocal business model and assure users to get their delivery in a very short time.
Uber Eats earns a commission on every food delivery that happens within the platform. Customers will also pay a delivery fee to the platform. Many restaurants will pay the platform for getting them listed on top of the search.
Food Panda
Food Panda is a well-known food ordering app that has operations in over 41 countries. The company started to function in 2012 and has shown steady growth in the market. More than 40000 local restaurants relate to this multi-vendor food ordering software and satisfy customers through its on-time delivery.
Customers can enter their zip code and will get the list of restaurants connected with this marketplace platform from that area. Customers can select their favourite restaurant and can order food online. With the help of multiple payment gateways integrated with this multi-vendor platform, customers can pay and get their orders on time.
Swiggy
Swiggy is India’s most popular on-demand food delivery platform and has been ranked no. 1 in food delivery services. This online marketplace software has crossed 1500000 downloads in the Play store. Swiggy is different from other food delivery platforms as this company has its own delivery team with a dedicated mobile application. There is no minimum order policy with Swiggy that facilitates users to order food through this platform.
Swiggy has expanded his business by adding on-demand grocery delivery along with food delivery services. It assures 30 minutes delivery and satisfies customers by offering quality services.
Instacart
Instacart is a U.S-based on-demand grocery delivery marketplace platform founded in the year 2012. This technology-driven multi-vendor marketplace supports customers by delivering grocery items within 1 hour from the time of order. The platform has a collection of over 300000 items and facilitates customers to place orders with their favourite stores.
The extreme quick grocery delivery service has grabbed the attention of customers, and this has increased the platform’s credibility in the market. There are several revenue streams that profit from the platform. The delivery fee, membership fee, mark-up prices are a few of the revenue sources. This marketplace platform finds customers through word of mouth, free first delivery, and also through digital marketing.
Bigbasket
Bigbasket is the popular and largest Indian-based online grocery platform founded in 2011. It covers more than 30 cities in India. This multi-vendor platform holds more than 20000 products and 1000 brands. The company valuation is more than 1.8 billion dollars. This online marketplace platform proudly holds 10 million customers. The platform assures 90 minutes of delivery.
Customers can choose their convenient delivery slot, or they can select express delivery or Bigbasket speciality stores where they can go and collect orders from those stores. This multi-vendor eCommerce platform is a hybrid of an inventory-led business model and a hyperlocal business model. The platform is more user-friendly and understands users’ preferences easily.
Conclusion
Al the above-mentioned best marketplace platforms have their own significance and features that can attract the audience and get them good business. They keep changing the marketing strategies that will meet customer demands and supports them to survive in the market.
