There are many additional features multi-vendor marketplaces can add to make the user experience better, but focusing on these priorities ensures that a marketplace can stand out and attract customers who will, in turn, bring vendors eager to cater to your audience. While it may seem difficult to compete with the eCommerce giants online, customers are willing to buy from anywhere as long as the price and convenience factors are right.
Customers looking for the best prices online are increasingly turning to multi-vendor marketplaces as a solution. Retailers who made use of marketplaces reported that 35% of their business was conducted on online marketplaces. However, massive platforms such as Amazon and eBay are the first place where customers look, so multi-vendor marketplaces need to provide the best shopping experience if they want to compete with larger brands and attract vendors.