Tag: Magento multivendor marketplace

The e-commerce industry is emerging with great speed and many businesses are moving from offline to the online marketplace. The competition is rising with every passing day and to stand strong even in the crowd of thousands e-commerce venture must be dynamic in nature. Yes, if you want to be successful in the digital world one must run according to the prevailing trends and technologies. The new generation prefers easy and updated shopping experience and it is important to update yourself as per the market trends.

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Future is unpredictable but few trends that may define the e-commerce marketplace are predicted by market experts. These trends will definitely act as an important factor to make your e-commerce venture successful. The following trends predicted by market experts must be a part of your future decision and will act as an important part in planning investment strategy and overall business plan.

1. Social Media Shopping

The trend of shopping on mobile or web e-commerce website is expected to continue even in 2019. Magento multi-vendor marketplace e-commerce provides a platform for those who are willing to enter in this online industry. Updated with all the latest and useful features this software is expected to introduce some new faces in the shopping industry. Whether it is about sharing the latest tips, reviews of any newly launched product or posting your listings keep your social media accounts active as in 2019 all these details can be accessed through your phone.

2. Expensive Ads

In 2019 get ready to pay more for your online advertising. With the increasing rate of internet users advertising online is expected to experience a price hike. Gone are those days when you can reach worldwide in an expensive way. This trend may be trouble for some but market experts have predicted a tremendous hike in advertising rate in the digital industry.

There are several strategies which you can apply to overcome this trend and reach your target audience:

• Adjust your financial budget according to the ad space.
• Start blogging as it is an easy and cost-efficient way to reach a wider audience.
• Use a multi-channel approach to ensure that you have maximum visibility as compared to others

3. Increased Personalized shopping

The trend of personalized shopping is at its peak. Yes, millennial are now craving for traditional personalized shopping style rather than going for unengaging and impersonal shopping sites. To cope up with this trend multi-vendor marketplace software of Magento helps you to offer your customers an incredible shopping experience. In 2019, as per predictions of market experts e-commerce have to provide personalized offers, discounts and services to impress their customers. Customers are looking for a unique way of shopping so, if you have your own e-commerce marketplace or selling on any other platform make efforts to leave a long-lasting impression on your customers by adding a customized shopping experience strategy in your future plans.

4. International e-commerce

Get ready to face real competition. With the rising trend of e-commerce market experts are expecting to see more international sellers, buyers and products in 2019. This market update will definitely give you an opportunity to reach to a wider audience but in return, the competition with the international seller may force you to make stronger and costly marketing strategies. With the constant expansion of e-commerce marketplace, the reach of your e-commerce venture will not be bounded to any boundaries.

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5. B2B market

In 2019 we will experience a tremendous rise in the growth rate of the B2B industry. If you have your b2b multi-vendor e-commerce system then start working on its expansion as in 2019 your business model is going to engage in more B2B transactions. The boon period of B2B market is expected to arrive in 2019. You may not be aware of the strength of your B2B multivendor e-commerce site but in coming future, this industry will contribute a great amount of revenue worldwide.

6. Personalized recommendation:

Online business uses many marketing strategies to impress their customers but not all strategies work in favor of e-commerce ventures but according to the market experts in 2019 no marketing strategy can beat the result of providing an unforgettable shopping experience to your customer. The future is all about giving comfortable and excellent shopping experience and if you fail to do so then no marketing strategy can rescue you. Customers will prefer community based recommendations whether it’s an online group or next door neighbours nothing can beat the power of personalized recommendation so make sure that you provide high-quality customer services and products to leave a long lasting impression on your customers.

7. Emerging industry

Start planning to expand your e-commerce venture as the industry is expected to continue growing in the future with great pace. In the US it is predicted that by 2022 e-commerce market will make revenue of over $138 billion. You can use Magento multivendor marketplace extension online for expanding your e-commerce venture and to customize it to keep up with the trends of 2019.

Conclusion

It is very important to alter your e-commerce venture as per the market trends. To stay successfully for the long term in the e-commerce marketplace it is mandatory to give a constant attention to the market trends. In 2019, the only way to run your e-commerce market successfully is to keep up with the trends. A successful business whether online or offline must make changes as per the changing trends.

Event management and all related businesses are running strong in South East Asia. With recent reports showing the emergence of a staggering number of millionaire businesspersons in this region, it is no surprise that conference, seminars and even private parties are on the rise. Naturally, event management companies native to the region as well as from outside are keenly interested in tapping into this market.

However, it is not so easy to penetrate this market as it is already saturated with high-end event planning and management service providers. So, smaller companies take advantage of multivendor marketplace options to optimize their business cycles. Generally, these platforms utilize Magento multivendor marketplace extensions to deliver the widest options to clients and also offer specialized services.

Now when it comes to these multivendor platforms, there are tons of other factors which will need to be considered. And all of it depends upon the online marketplace interface that you adopt. Since all bookings are done online and many happen on short notice, having a responsive, customized and easily used marketplace interface is key to success. Below, we have compiled a list of some of the most critical features that you must have in your multivendor marketplace script:

Top Features Your Event/Show Booking Ecommerce Multivendor Marketplace Must Have?

1. Region-specific Services

Customization is the name of the game in the world today and the event planning industry is no exception. South East Asia, in particular, is a culturally diverse region featuring blends of novelty and tradition. To successfully cater to potential clients from this region, your Magento marketplace software needs to be able to accommodate these different facets.

Exploration of services based on thematic similarities like cuisines, décor, purpose etc is a good way to help clients get what they want in quick time. If your marketplace platform can deliver this then it can potentially become a leading presence in the market.

2. Variety Ensures Success

One of the main reasons why event planning services offered via B2B ecommerce multivendor marketplaces are so popular is convenience. Having multiple businesses offer competitive services under one platform allows clients to compare and choose the best for their needs.

So, in order for your marketplace platform to get successful, you need to offer a wide number of options. This refers not only to companies but also services. Of course, there is a definite amount of value in specializing in say business events. However, the more diverse your list of vendors, the higher the chance of long-term growth and success.

3. Tier-based Services

Having a multivendor marketplace for your event planning and show booking services is only the start. Even if you have many options, it is not necessary that clients will be willing to go through them all to choose the one that will fit them best. So, it is important to structure the services on the basis of tiers.

There are many ways to establish tiers in your marketplace. All of them must be calibrated to provide a unique cross-section of services to clients. This is critical for helping them make the right selection. For example, a show booking service based on the venue charges should be combined with the potential catering and décor options. Similarly, multiple day bookings should be combined with the cumulative valuation of overall costs at a fairly lowered price.

4. AI-based Suggestions

Artificial Intelligence can be a great help for B2B multivendor ecommerce systems. They can help clients understand where their needs can be most easily and economically met. The AI can factor in vital things like location, budget, type of event etc. and provide smart suggestions to clients for the best experience.

Having a smart AI which can provide the best suggestions and navigational help to clients requires the use of highly-qualified Magento marketplace software builders. In order to ensure this, check the total validated work experience of your developers as well as their actual skills. This will help you get a fair idea of how much value for money you are getting.

5. Season-specific Service Options

One of the most effective ways of catering to any event booking market is to offer season specific services. Consider the most important times of the year when business and personal events are frequently held. During these times, you can offer lucrative discounts or complementary services through your multivendor market script. If you already have a good presence, then consider how you can expand it. All of this will help solidify your market reputation and popularity.

Conclusion

Event planning, booking,and management is a vast field and a very profitable one. It is also highly competitive and so, multivendor ecommerce marketplaces for this platform have risen to prominence. If you are planning to establish a dominant marketplace for these services, consider the factors we have mentioned above. This will help you cater to your clients in the best way possible and rapidly grow your enterprise.