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Online shopping has become the new norm in this digital era. Today, businesses are embracing marketplace development services more than ever to maximize profits.
As per Oberlo, there are 2.56 billion online shoppers as of 2022.
This image offers a glimpse of the bright future of the eCommerce industry. Creating a robust website is a way to tap into this lucrative industry and a revenue-driving solution for your business. And for this, you should hire Unified Infotech. We are a leading B2B eCommerce website development company in USA.
6 Ways How Online Marketplace Development Services Help Achieve eCommerce Business Goals
A robust eCommerce website can help you connect with your target audience and boost sales. Read on to learn more about how an online platform will help accomplish your business goals.
Online businesses have a big advantage over physical stores – the former is more conducive to automation. A virtual marketplace comes with advanced automation opportunities. You can control how you showcase your products, accept orders, manage delivery logistics, and perform data analysis.
Better Inventory Management
Upon receiving an order, you get the supplier to send the item to your logistics partner, who then delivers it to the buyer. It’s a relatively simple process but can get complicated with the increase in daily orders. With an eCommerce website, you can automate routine tasks and simplify the process. Moreover, you can use inventory and logistics tools to operate more efficiently.
Low Setup Cost
Cost is one of the major factors to consider while starting a business. For a physical store, you need to think about the space required to set up the shop and hire people to manage it.
These can be avoided by opting for an online store. You just have to pay for the site’s development, maintenance, and promotion. The best thing is you will have control over the exact amount.
You don’t even have to spend a lump sum on making your products look attractive. Just click beautiful high-resolution images of your products/services and display them on the website. The marginal setup cost is one of the reasons why entrepreneurs choose to take this path. It won’t be a problem if they lack substantial business capital initially.
Extensive Marketing Options
Marketing plays a big role in the success of any business. Compared to online businesses, physical stores have an added advantage. Lesser visibility doesn’t affect them much as customers can still get to know about these shops from their acquaintances or while walking past them.
But an online business requires dedicated marketing efforts to be visible to its target customers. Fortunately, there are thousands of ways to promote a website and make the target audience aware of your products. Some of the widely used methods are SEO, social media marketing, online advertisements, etc.
Additionally, you can go for email marketing, display marketing, and push notifications to inform the target audience about your brand, its products, and how they can fulfill their requirements. Getting people to buy from your eCommerce website takes effort, but the availability of different marketing methods helps significantly in achieving this goal.
Increase in Sales
With marketplace development services, you can reach more prospective customers as compared to a physical store. Potential buyers can get to know about your online marketplace and try your products, irrespective of their geographical location.
In eCommerce, you just have to showcase your products in the best light and give the target audience compelling reasons to buy from your store. Reaching out to users and extensively promoting your store increases the chance of more people availing your products. This means greater profit margins.
Scaling your online business won’t be a problem if you implement the right strategies and work with the best suppliers. These enable you to manage the surge in customer demands effectively.
Now that you have got some strong reasons to create a virtual marketplace, it’s time to learn about some of the global giants in this domain.
The Top 5 eCommerce Platforms in 2023
Here is a list of the most prominent online marketplaces in USA.
This eCommerce giant needs no introduction. Launched in 1995 by Jeff Bezos, Amazon is currently the biggest online retailer in the world. One can find everything in this virtual marketplace. Amazon also offers its own standalone products, ranging from Kindle to Amazon Prime Video.
Walmart was launched in 1962 by Sam Walton. Today, it is a multinational American retailer with 10,000+ stores worldwide. Walmart has been a household name since the ‘60s and has recently entered the digital domain.
Walmart offers a wide range of products and categories, making it one of the most attractive marketplaces for online shoppers.
This retailer offers an array of items, from fashion items to hygiene products. It was originally started in the ‘60s as a discount section of Dayton’s department store. The company saw major growth later on and has continued to expand its operations since then. Today, it is the second-largest departmental store in the US (just behind Walmart).
Consumers either visit the nearby Target outlets or its online platform to explore and buy products from this big box departmental store chain.
eBay is another eCommerce pioneer that holds a dominating position in this domain. Founded in 1998, eBay is the first of its kind, staying true to its purpose – being a virtual platform where users can buy and sell anything they like.
Whether clothes or electronic products, customers can get whatever they want through auctions directly from verified sellers or brands. This online marketplace even offers a free shipping facility on numerous items.
Best Buy started as a consumer electronics retailer in the 1960s. Today, it has outlets nationwide and even in Mexico and Canada. Whether you are looking for baby products or furniture items, you can get everything at Best Buy.
Despite having different product categories, the American retail giant is still recognized as a consumer electronics company. In fact, they have a great global rank in the electronics and technology niche.
5 Reasons to Choose Our Online Marketplace Development Services
Better Visibility of Your Products
We create eCommerce websites that help businesses showcase their products beautifully, connect with more users, and increase engagement.
By availing our B2B eCommerce web development solution, you get a search engine-optimized website that ranks high across search engines. A better SERP rank gives you an edge over competitors.
Integration of the Necessary Tools
We integrate your eCommerce website with every vital tool. It includes invoicing software, shipping software, and an inventory management system. Using these 3rd-party tools, you can run your online business more efficiently.
Performance Tracking and Management
With our eCommerce web development services, you can track your site’s performance through credible analytics and reports on navigation analysis, visitor tracking, and traffic segmentation.
We employ security measures in the form of HTTPS, SSL certificates, and two-factor authentication to deliver a safe and secure online marketplace for your customers.
A Look into Our Custom eCommerce Web Development Process
We follow a step-by-step process to build robust and impactful B2B eCommerce websites that convert your visitors into customers.
We establish a detailed idea about the customer’s business objectives, goals, and design and branding preferences. The discovery workshop involves understanding the competitive landscape, target audience, and market and clarifying all queries and doubts.
Next, we define the project plan and the design and branding guidelines. This phase involves creating the documentation required for executing the project successfully and obtaining approval from the client.
We then work on your corporate branding and design the user interface based on the approved wireframes and design guidelines, thereby making it totally customer-centric. Our focus lies on creating mobile, tablet, and web-specific designs and getting the UI designs approved by the client.
In this stage, our developers create the front-end and back-end parts of your eCommerce website and cater to the requirement for API integration. Our team establishes a 2-3 week frequency for sprints.
The tech stack used:
- Back-end – Ruby, Laravel, Node.JS, Python, Java
- Front-end – VueJS, CSS, AngularJS, HTML5, ReactJS
- Database – MySQL, MongoDB, Firebase, PostgreSQL
- OpenSource – WordPress, Drupal, Magento
We then proceed to the testing phase.
Our team tests each sprint manually, reports bugs, and adds them to the product backlog. After fixing the bugs, a quality release is provided, and the sprint’s final demo is sent to the client for approval. We engage in regression testing after every sprint to ensure the proper functioning of the previously approved sprints.
Maintenance and Support
We perform product enhancement, frequent security audits, bi-weekly code back-ups, and constant upgradation of the system based on new versions/software releases. Our eCommerce website development service also includes full system testing to identify bugs, errors, and incompatibilities.
Additionally, we monitor the traffic and server load and optimize accordingly per business requirements.
A unique and scalable online marketplace helps you connect with a large number of potential customers and compel them to buy your products. As a result, you can witness an increase in sales and business growth. Given the bright future of the eCommerce industry, it’s an ideal time to avail our online marketplace development services and enjoy the myriad benefits that come with it.