Multi-Vendor Marketplace Best Practices

Most people don’t think about the invisible — the behind the scenes of how products manage to make it to us within 24 hours, or how our payments make their way seamlessly to the right place, or even the shipping updates we receive. These invisible operations are what set certain shopping experiences apart.

There are a lot of invisible operations happening behind every ecommerce experience, but marketplace operations and workflows are especially complex. You see, the function of a marketplace is to connect buyers and sellers — not sell any of their own goods.

The amount of coordination required is significant, and demands thoughtful experiences for both the buying and the selling stakeholders.

From the consumer perspective, though, they expect the same caliber of customer experience as they would any traditional ecommerce store.

While there may not be one secret ingredient to growing a successful marketplace, there are definitely several marketplace best practices that can mean the difference between competing with well-known platforms and fading into online obscurity.

These Marketplace Best Practices include:
1. Focus on nailing the customer experience
2. Remove the friction to sell
3. Curate your catalog
4. Don’t underinvest in fintech
5. Be thoughtful about technology

Download the Marketplace Best Practices report to dig deeper into each one of these best practices!