Through the amid of pandemic, every aspect of the business started to look for digital transformation. As a result, the eCommerce industry continues to evolve over the next few years.
In fact, the Inside Intelligence report shows that B2B sites sales will reach $1.77 trillion in 2022, a sharp 12% growth from the prior year, 2021. Thus, B2B businesses have shifted their focus to online from the last few years. If you are online of them, looking to build your B2B eCommerce website, and want to get succeed. Read the entire blog post to get complete insight. Being a leading eCommerce solution providing company in the USA, we will discuss eCommerce trends, challenges, and opportunities in this blog post. Let’s get started. So, what are the major challenges in B2B eCommerce? B2B eCommerce Challenges Challenge 1: Maintaining B2B Client Relationships and Offering Personalised Store B2B businesses get help from a healthy relationship with clients. Maintaining relationships with the clients leverages you a competitive advantage. If you have a healthy relationship with your client, it’s likely to make more and more purchases from your store. On top of that, to build a strong relationship with your clients, it is essential to provide a good customer experience. That actually means providing fast delivery, customised storefront, easy-to-use tools within the store, and transparency of information with clients. In addition, you can also provide personalised customer-specific pricing, catalogue, product selection option, and organised store to your client within your B2B website or app. Challenge 2: B2B Buying Process Involves Many Decisions Making In B2B business, many people are involved with their respective opportunities. That includes people who are researching the stuff, stakeholders’ involvement when making any decision of purchase, user influencers to know whether it is the right product to purchase or not, and financial representatives for final decision making. So, to keep up with all the responsibilities, you need to make your store effective for all these individuals. But, how can you ease this decision-making process and increase the chances of your product getting purchased? It is simple. You just need to provide different tools that make the job of a different individual easier. That includes integration of CRM and ERP solution that allows managing data at one stop. Challenge 3: Providing a User-Friendly Experience on Platform Providing a simple platform to your users is not that effective. Instead, you need to make your platform user-friendly, so buyers do not need to spend too much time just understanding the store. You need to make your store user experience effective enough that buyers can easily find out products of their means. To do so, one of the options is you can even set up automatic purchase orders to restock. B2B eCommerce Trends in 2022 1. Invest in the eCommerce Technology to Scale Up Your Business When you are looking to convert your traditional business into an online business, start with the B2B eCommerce platform as it will serve as the center of your nervous system. It is not necessary to have any defined eCommerce solution. Choosing an eCommerce solution depends on your needs. Hence, you get a facility to choose the best solution for your eCommerce as per your needs. With modern eCommerce solution requirements, choosing MobiCommerce for your eCommerce business offers benefits to you. The benefits include features, security, a DIY layout editor, and customization. 2. Online Marketplaces for B2B will Grow Marketplaces are the stores that digitally connect buyers and sellers. For example, Amazon, eBay, Alibaba.com, Etsy are some of the top retail B2C marketplaces. As the sales of B2B eCommerce are growing, resulting in the growth of websites or marketplaces. According to TechCrunch, B2B startups are going to be the next billion-dollar eCommerce startups. In the last year, 2021, B2B marketplaces sales grew by 130%, as per a report of Digital Commerce 360. Therefore, B2B marketplaces will hold a strong position in the future. If you are looking to develop a B2B eCommerce software, then developing such marketplaces will benefit you. 3. B2B Brands will Focus on Increase Custom Retention Rate In business, we all know acquiring a new customer is always expensive compared to an existing one. According to a study by Bain & Company, if you can increase your customer retention rate by 5%, you may get up to a 95% boost in your revenue. So, putting your efforts into retention customers is more viable than investing in new ones. B2B business customer retention involves several things, such as limited customer pool, a longer period of the sales cycle, higher cost of acquisition, and results in higher sales value. So, focus more on increasing your customer retention rate. For that, you can personalise pricing quotes, provide availability of different products, shorter delivery span, and offer a smooth user experience to your clients. So far, we have discussed the challenges and trends of B2B eCommerce. Next, check the B2B opportunities. B2B eCommerce Opportunities Entering into the B2B eCommerce business offers you an immense market opportunity. For example, some of the best eCommerce platforms like Amazon Business or Alibaba acquire a huge market portion and generate revenue in millions of dollars. Alibaba has a total of 58.2% market share in China in B2B eCommerce. This number is massive. So, if you want to establish your B2B marketplace, take this opportunity by developing your custom B2B eCommerce app or web solution. To get succeed in the B2B eCommerce business, you need to make your brand unique or provide a good customer experience to your clients. One of the examples to do so is, providing multiple online payment options to your clients. The traditional process of generating invoices involves complexity and might result in an error as well. Therefore, a customised payment and invoices system can surely benefit your business. Looking to create an B2B eCommerce Website and Mobile Apps? Book a Call With Us
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There is no doubt that eCommerce and marketplace industry is growing at rapid pace due to COVID-19 outbreak nowadays but starting and running successful multivendor store management is quite daunting task. While launching it, store owner should take care of below things, to make store stand out from the rest:
Market research: The first and foremost thing which you require to do it is market research of your target audience. You have to first understand their needs and according to that prepare a list of which features you need to include. Choose a right business model: There are four different types of the marketplace which are Business to business abbreviated as B2B (buying and selling between businesses), Business to consumer abbreviated as B2C (buying and selling between businesses and consumers), Consumer to consumer abbreviated as C2C (buying and selling between consumer to consumer) and peer to peer marketplace. You will have to choose the right one from these four which is the best suit your needs. Need to decide whether to go with a ready-to-go solution or develop it from scratch: There are two methods of marketplace development- using ready-made eCommerce platform or development from scratch. Both have their own pros and cons. So, you need to know the pros and cons of multivendor marketplace development from scratch or go with ready to solution and choose one that caters to your needs. The vendor gets a right share of sale: know the information of your eCommerce marketplace product value, competitors’ pricing models and customer’s demand and Prepare pricing model for your vendors. Secure payment gateway: There are lots of transaction will take place while shopping. People would like to prefer to shop if they will not ensure whether their payment details are secure or not. For that, you will have to deep dive into knowing the elements that are crucial to the system. Adequate inventory management: To provide the delivery of product in the assigned time period, it is important to manage inventory with perfect management. You will also check the quality of the product before you deliver it to gain the trust of your shoppers. These are very basics and the foremost factors you must make with perfections. With comprehensive and proven strategies, you will be able to get the maximum advantage of it. If you are still facing problem then you make take help of multivendor marketplace Development Company or multivendor marketplace solution provider in middle east. B2B ecommerce has become a powerful part of the global economy. Even though. B2C retail and wholesale is predicated on shipments, B2B deals in bulk processing and this makes the margins huge. In this light, getting a strong B2B website which can perform well in the market is essential. According to a recent study, the US B2B market will reach $1.8 trillion by 2023. This revenue will be as high as 17 percent of all B2B revenue by that time. From the above data, it is clear that finding the right online B2B ecommerce platform can make a lot of difference. Indeed, going online and staying relevant on the internet will give your business the market boost it needs for efficient competitiveness. 5 Key Considerations for B2B Ecommerce Solutions 1 Catalog and Inventory Management Managing and displaying catalogues of products is key to having a strong performing ecommerce website. This is applicable to both B2B and B2C domains since clients respond to products based on how well they can interact with them. So, when you are getting B2B ecommerce website development, you must consider how your products will be showcased across all devices. This includes both desktops and portable devices like tablets and mobile phones. The same goes for any B2B software solutions you might consider. They need to present your product inventory in a clear, concise, SEO-friendly and attractive manner for best purchase volume. 2 Client-Side On-Device Performance The performative aspect of your B2B website will determine how your clients relate to it. These days, load times are a big factor in overall web traffic and business growth. The same goes for B2B applications on iOS and Android. You need them to load fast, be visually attractive, have responsive layouts and deliver a good performance. All of these factors will indirectly impact the sales volume you get from your B2B ecommerce solutions. Further, using their device to gather background data must also be done with the relevant cyber laws in mind. Data management when using third-party applications is especially important so this demands due consideration during development. 3 User Experience Appraisal and Feedback Managing the user interface and experience with a consistent feedback loop is part of the web development industry now. It is seen more prominently in apps but websites can implement them as well. Doing this can help the developers find ways to improve the overall performance and client response. This essentially gives your business a window into better market response through your existing B2B ecommerce software solutions. Ideally, the feedback and appraisal process needs to run through a questionnaire and custom message-based feedback window. This gives ample insight into the market response for the app or website’s functionality to allow for improvements. 4 Client-Side Pricing Differences Thanks to GPS and geolocation technology, companies can implement localized pricing. In the B2B market, this is big since the margins can matter a lot. However, this works in many ways and you need to factor in things like VPNs and client response. Ideally, ecommerce pricing on products in B2B platforms should be based on local factors. At the same time, they should not differ so much that clients get a negative impression. Further, multiple pricing in B2B software solutions can give clients the opportunity to exercise their preference and grant more goodwill to your company. 5 Payment Gateway Features Ecommerce payment gateways need to have ironclad processes and encryption. Whether you operate locally or internationally, you need to make sure payments come through without hassles. This is a key aspect of both B2B ecommerce website and app development. You B2B enterprise will get a lot more out of its online platforms if it invests in constructing a strong payment software. How Should You Get Your B2B Ecommerce Solutions? Investing in a B2B ecommerce software or website is a great idea. If you keep the above factors in mind, then you can achieve the sales and revenue volumes you expect from it. Choose the right developer as well so they can bring these factors into your device in the best way. dit. Middle East falls among the top lists of the shopping regions. The actual scenario of ecommerce in Middle East is quite difficult to pin down due to the various norms, government regulations and strict trading policies. Still the below content would be able to help you out in figuring the rough scenario over the various regions in Middle East. It might surprise you that the Middle East e-commerce market is set to double up $69bn by 2020, as per the report by Pay Fort an online regional payment platform. With the growing ecommerce trends many retailers have already taken their stores mobile by developing the ecommerce mobile app to be visible and reachable to their target customers. With the fast penetration of smartphones as depicted in the below and customers adaptability towards it, around 42% of the people in the Middle East access their internet to shop from online store. In addition to this, around 87% of these online shoppers are very much satisfied with their online shopping experiences. Image Source: https://www.go-gulf.ae/blog/smartphone-middle-east/ In addition to the above statistics, there is a particular pattern observed among the middle-east smartphone owners for their online shopping activity. They not only focus to shop online but also conduct other activities such as product research, finding local retailers, price comparisons and so on. Below is the tabular representation of the same. Image Source: https://www.go-gulf.ae/blog/smartphone-middle-east/
As per statista,
Middle East being hub for the ecommerce market, many retailers from across world are keeping an eye on it. Cross Border Ecommerce Scenario in Middle East Maximum chunk of online shoppers in the Middle East are now adapting cross border products. With the ecommerce features like multi lingual and multi- currency as well as integration of international payment methods and gateways. In addition to it, the shipping methods are reliable and have led many shoppers purchase products from other regions. As per the recent statistics,
Well the above data gives you the in-depth scenario of ecommerce market in Middle East so that for the ones who are planning for entering or expansion in Middle East can plan the entry strategies accordingly and tap the most potential and rising Middle East market. Online food delivery apps have become something of a phenomenon in their own right. Every few months, a new app is launched catering to specific markets and further populating this burgeoning commercial space. Nevertheless, this market is showing no signs of slowing down or even plateauing.
In fact, with more and more apps coming up to service specific niches, it is very likely that the growth will witness an upward incline in 2019. There are a number of reasons why food delivery apps surpass conventional food delivery businesses. It is important to understand what these reasons are so that further innovations and advancements can be forecasted, anticipated and pioneered. So, here are some of the biggest reasons apps are surging in the food delivery market at the moment. Top Reasons for the Success of On-Demand Food Delivery Apps in the International Market 1.Consumer Convenience In an internet age, having to rely on outdated means of ordering food or takeaways or even booking tables at popular restaurants is simply out of place. Further, any customer could never know the current deals in the market. They would have to keep tabs with all the restaurants and food outlets to know of this. And even then, they would most likely miss out on most of these. Recommended blog: 6 Delightful Mobile App Development Strategies for On-demand Food Delivery App With any on-demand food ordering app solution, clients can find the best deals that are available in the market. It also makes from tremendously greater convenience for those who are browsing through a market and enjoying the nightlife. They can discover the best deals in the area with just a few simple clicks. Naturally, this makes all parties involved much more satisfied. 2.Business Marketing These days, having an offline marketing budget is not necessary. In fact, a food business can launch without having so much as a seating area. They can be a purely delivery-based service and can perform much better than established operations. Even with a nominal budget and some creative marketing techniques, a food shop can easily acquire a reputed market standing. Food delivery apps have a huge role to play in this regard since they are the best and most economical means of promoting a food delivery business. Ideally, the preliminary marketing approach of the target market should be determined right at the on-demand food ordering app development stage. This will help streamline multivendor marketing processes as well as all necessary segmentation in that regard. 3.Market Penetration When creating a food order website, market penetration is an important priority. This factor influences design aesthetics, website functionalities, cross-platform presentation, and many other critical factors. Of course, since websites have far more outreach than conventional channels, they must also cater to a broader market. But this does not prevent enterprising food delivery apps from acquiring the right kind of online presence and that contributes immensely to their success. Obviously, conventional food delivery and booking services cannot match the efficiency model of online apps. This means that the market will continue to be steadily taken over by these apps. This also means that businesses can reach much farther into any local area and generate leads using inexpensive technologies like push notifications.
One of the best things about food delivery apps is that they allow for process segmentation. This means that the delivery company can be subcontracted or even hired on some other basis. Further, different aspects of the business such are a software update and delivery fulfillment logistics can be segmented in separate parts. This is an obvious advantage as different aspects of the business can be updated without hampering processes in others. Further, with emergent technologies like hybrid apps, businesses can further minimize the investment needed to cater to clients on multiple platforms. Cutting-edge payment options like cryptocurrencies are also becoming a popular means of making payments. Such advantages put on-demand ecommerce solutions for restaurants at the head of the most important technologies in the food and dining industry. 5.Scalability Finally, a major reason why on-demand food delivery apps are able to capture markets so effective is that they are scalable. The scalability of a business is an imperative consideration when thinking of the long-term and having digital properties makes scaling up much easier. This gives such apps a considerable advantage over conventional businesses and allows them to expand virtually endlessly. The scalability factor also influences geographic expansions. Businesses can cater to new markets simply by adopting the language and culinary preferences of that region. As opposed to actually setting up shop in a new city, a tentative market penetration test can simply involve liaising with food businesses and exploring a subcontracted delivery system. This allows businesses to expand much more efficiently than they could otherwise. Conclusion It is clear from the above that food delivery apps are the way of the future. However, merely having an app is not going to suffice. The biggest and most profitable on-demand food delivery app solutions always set the bar high. Any businesses which want to tap into this market and carve off a sizable market share for themselves need to be able to meet that benchmark and then surpass it. So, the first order of work is to have innovation and foresight for the rapidly growing needs of this market. With the rise of e-commerce marketplace, you can purchase anything from online stores. Now, everything is online and this saves a lot of time and energy. When it is about grocery, a lot of things are needed on daily basis. Online grocery shopping is a boon for those who do not want to waste their energy in time in the long queues of the supermarket. It not only saves time and money but gives a lot of choices on the same window. Variety of different options is available to fulfill our requirement.
In Saudi Arabia, online grocery mobile apps are showing tremendous growth. It is constantly evolving around in meeting up customer demands and has been successful in gaining a trust of the customer which is visible through the constant rise in the growth rate. These e-commerce grocery store apps are designed specially to fulfill the daily requirements of the customers. Building an e-commerce platform for selling groceries is completely different as compared to other online business apps. The reason for this huge popularity of grocery store apps may differ from person to person but a few common advantages they serve are listed below:
Conclusion: The demand for online apps is constantly rising and it’s clearly visible that there is a massive increase in the trend of installing grocery ordering app among customers in Saudi Arabia. By looking at this immense demand of market many grocery companies are planning to build e-commerce mobile apps. Grocery mobile app development is not an easy task, products must be arranged systematically to give your customers an incredible shopping experience. These apps help buyers in making their shopping experience unique and hassle-free. For the grocery business owners developing an online website is of great benefit. It cut down their cost such as it reduces the need of large warehouses, electricity cost, retail outlets, ground staff salary etc. so basically it is of great benefit for both customers as well as owners. Progressive Web Apps are becoming a powerful force in the world of ecommerce. They are designed for high-functioning efficiency which can deliver peak performance as the most economical resource. There are a number of benefits that they offer which puts them over native apps. Here, we are going to have a look at what sets Magento Progressive Web Apps apart from Magento native Mobile apps and which one is better for your ecommerce purposes. Top 4 Differences Between PWAs and Native Apps
However, PWAs are downloaded directly from the website of the company. This has a number of benefits including the fact that clients can choose how they want to integrate the app on their device. They can add it to their home screen or potentially even make extensions on their browser. This allows a level of versatility which is not available on native apps. Further, this mode of gaining access does not expose clients to competitive apps. At the same time, they can work for a fraction of the computing space and power required to run native apps. 2. Development, Deployment, Upgrades,and Maintenance In the fast-changing and highly competitive world of mobile apps, having a scalable, efficient and economical app is everything. This is a real consideration for smaller businesses because native apps require a fair bit of investment to perform all these functions. Further, apps dedicated to each platform can only target a limited cross-section of the demographic. Hybrid apps are an option but they are very expensive and even more costly to scale as the business grows. So, in the age of mobile-first websites and dedicated native apps, smaller businesses need a lot of investment to gain a competitive edge. In contrast, PWAs are created using the same process as webpages. That is why the cost of their development in incredibly lower than that of the native apps. PWAs also enjoy the benefit of lower cost per deployment as well as lower costs for scaling. Since their native code is simple, it is also easy to manipulate and scale up as the business grows. Naturally, this gives businesses using them a significant costing advantage. 3. Business Process and Cycle Native apps can rake up an operational tariff of above 30%. That is often a price too high for many kinds of businesses. There is a degree of loss of control on the side of the developers. Since the platform owners have all the accessibility and scaling protocols reserved for themselves, it is difficult to implement them without involving a fair bit of expense. Further, all development must be planned in tandem with each other and this can be a very complicated situation, especially if the company has not invested in these protocols before. On the other hand, PWAs are designed to run on any kind of browser or whichever combination of browsers are decided upon by the company. This means that all the management, new releases, and overall tariffs are not required with PWAs. Naturally, companies can benefit immensely from choosing the right kind of apps to support their online business. 4. UX Native apps are meant to deliver a customized ecommerce experience to clients and that is why they can have a rather large size. While this can be a viable strategy for markets with high internet connectivity, it does not work so well with those which do not have ample speeds. Further, clients are not able to enjoy the same experience when traveling. progressive web apps offer a very sensible solution to this problem by minimizing the app size and the subsequent scale of upgrades needed. Further, they can work on any channel and that is why the overhead cost of employing them for ecommerce reduces significantly. Which One Should You Choose for Your Ecommerce Business? Native apps have their own value to offer but require a steady stream of high investment. Further, they require prompt upgrades to keep up with the market developments. In contrast, PWAs are compact and efficient ecommerce apps which can deliver a standardized service at an economical price. Which one you choose will depend on how much you are willing to invest the portability of your ecommerce store. Choose wisely and watch your business grow optimally. The boost of e-commerce marketplaces since the last decade is phenomenal. The change in the way businesses doing commerce has totally transformed the shopping experience of buyers. Different than standalone e-commerce platform, e-Commerce multi-vendor marketplace is the place which offers multiple vendors a platform to sell the multiple products and brands at a single place, allowing customers to access a variety of products and services from a single place rather than going to a different websites to accomplish all needs.
Current Industry Trends Sales through online multivendor marketplace software are anticipated to reach around $4.5 Trillion by 2021. That’s nearly a threefold lift in online revenue. Industries if you consider playing a crucial role in the sector are Apparel, Electronics, Home appliances, Automobile, Food, grocery and restaurant, Fashion, beauty and personal products, Mobile and technology devices, Financial services and lot many others. Looking at the numbers, Consumer electronics and fashion apparels are on top with 65% and 64 % consumer choosing to buy these categories of products respectively. So, with higher consumer acceptance and growing industry, entrepreneurs are striving to get into the field. There are abundant factors that are pinching entrepreneurs to go for Marketplace and not for the stand alone eCommerce store. Driving factors to go for marketplace against the standalone eCommerce store When Multi-vendor Marketplace Solutions like Amazon, ebay, Alibaba, etsy etc. are driving the marketplace industry with its abundant product inventories and excellent support and sales services -entices novice etailers to consider the change. There are certain hindrances for standalone eCommerce stores to grow irrespective of the efforts, investment and resources they put. Thus, to grow e-commerce marketplace is the key for success considering the points below. Inventory Management To become a big giant like Amazon one needs to have a huge amount of product inventory and variety of products which is rarely possible by a standalone ecommerce business. They need to make huge amount of investment in all the product lines and verticals. Other than the investment in products, they need to manage the products on software, minute technical details management etc. tough to manage. On the other hand, if the multiple standalone sites converge and do the business together, it has much more potential to grow and fulfill the need of customers. It’s same as working either individually or in teams. In case of multi-vendor marketplace, admin has to manage the vendors, technical task and their own products if any. Vendors do the product and inventory management. When the multiple vendors come together with their own brands of products, they won’t have to face the challenge of inventory shortage. Market Visibility With the huge variety of products, customers would like to come to your store considering the need it fulfills. Multiple sellers from the different geographies promote the brand well and this ultimately increases the market reach of the marketplace. For an individual ecommerce player it takes time and requires lots of investment in marketing to build the brand, and maintain customer service that multi-seller marketplace has the capacity to provide. Operating Cost Marketplace owners have to build single platform only with huge capacity rather than building multiple solution for each business owner in case of a standalone site. It is tedious, time consuming, requires almost the same cost to build up the asset just like marketplace and on top of that the management with the single hand becomes tough task. Marketplaces with single platform reduces the development cost for each vendors, they simply can register and sell their products. They don’t have to worry about the development process or how the other things would be managed. Entrepreneurs get the commission for allowing vendors to sell on their platform and earn great with the solution it offers. Where to start with? The simple it looks like not actually the case. Many start-ups have failed due to lack of scalability. You’ll have to consider the market needs, its future requirement, current market trends and future trends presumption etc. With the very short span vision, you may grow but that may be seasonal and once the period is over you’ll lose everything. So, it is important to determine the business plan, the area where you wanted to play your sots and what are alternative plans if the one won’t go the way it was decided. Decide the niche area, review the demand or create the demand and sell most. The businesses started with the great backbone support and planning goes long, same the case with this sector. Decide your area of target and then move ahead. There are many special product or service targeted ecommerce marketplace platforms with its unique offerings doing great in the market. E.g. Fiverr Not only the B2C sector but also B2B model doing great in the industry. It’s earning even double the revenue of what etailers are making. With the planned move, go and grab the new potentials. To Conclude, Ecommerce market is rising day-by-day with its satisfactory results. To top with ease and satisfy the clients well, to build ecommerce multi-vendor marketplace is the only key to get the success by taking its advantages into consideration. Its important to have an online presence in this age. This particularly applies to businesses if they are to thrive and expand in this digital age. Internet has brought the world closer than it was ever before, it is easier to conduct business across globe today than it was a few decades ago. You can engage a far bigger market demographic with an online store than you could with a physical store. With the arrival of solutions like Mobicommerce’s Magento based multivendor marketplace software, becoming the part of a global community of vendors and catering to customers all around the world has become easier than ever before.
Mobicommerce’s Magento multivendor marketplace has gained prominence in a market saturated with marketplace solutions. Magento is a free open, open-sourced ecommerce store development platform and that is why it is one of the primary choices for businesses debuting in the ecommerce sphere. But there are a host of other advantages too Benefits of Multivendor Website Customer -Vendor Relationships It’s crucial for a business to develop a strong interaction with its consumer base. The dynamic a business shares with its clients decides how successful that business is or will be. A consumer sharing good will about your business has two-fold benefits, one you have secured a repeat customer and two positive feedback leading to new customers visiting your website. Owing to its versatility a multivendor ecommerce marketplace can perform multiple functions like communication with customers. The consumer can immediately reach out to the respective vendors if they encounter any issue with their purchase and get it addressed quickly. It even supports features like live chat. This real time trouble shooting solution is even quicker and also imparts a sense of importance to the consumer Global Presence When a small vendor registers with a big firm marketplace it is not only benefitted by the extensive reach of the firm but is also granted access to the marketplace specific shipping solutions. A small vendor from one region can offer its services to an area that is too remote to be reached out to all by its own. The cost that this very vendor has to invest in logistics too is taken care of by the marketplace owner as it helps in providing a unified shopping experience. Thus, delivery, packaging and shipping all are handled by the administrating firm. Development Time & Costs If a vendor seeks to create his own webstore with a discreet admin panel, they can do that easily in a multivendor marketplace script with just a few clicks, a marketplace provides this facility. Moreover, there is no need for additional investment as the infrastructure required is all there in the marketplace itself. There isn’t any need for an elaborate marketing budget as well you can just pay the marketplace owner to for promoting and listing your products. This can also be settled as commission in the form of percentage of sales the vendor makes monthly or annually. Store Functionality & Management Flexibility The marketplace employs a tiered system where the website owner manages the marketplace as a whole and the vendors control their own online stores within it. They can add or delete a product, and even modify other content to their liking. This results in a set up that is fast and efficient and also creates for the consumer a breeze like shopping experience that flows smoothly without any hurdles. Business Growth As previously mentioned multivendor marketplace boosts business by increasing the market penetration by connecting vendors to remotest of areas. In addition to that you can also make modifications like adding more product catalogs and categories across several stores in the marketplace. Thus, you can determine the size of the ecommerce business you want to put up and even compete with bigger ecommerce players of the world. In recent times the e-retailing of grocery has gained momentum and it’s evident in the fact that the shopping habits of people have changed completely from the past. Today ecommerce offers what customers have come to expect from the market.
Customers now have at their disposal multiple varied ways to access services and products. The mobility offered by mobile apps and smartphones has created a consumer that seeks and does shopping anytime and anywhere. Grocery is one of the latest additions to that shopping list. Major ecommerce players build ecommerce grocery store as they recognize them as a fast paced marketplace. It is predicted that the online grocery market will grow to five times its current size over the course of next decade. Also it is forecasted that upwards of $100 billion will be spent by American consumers on grocery items by the year 2025. The total sales volume of online grocery stores in the US was $14.2 billion in 2017. It is estimated to more than double to $30 billion by 2021 according to a report by Statista. And there are more incentives to building a mobile app to capitalize on this rising market. For instance • Loyal Customers Building a loyal consumer base is an arduous task. Statistically it takes almost 10 times the investment to earn a new consumer as compared to converting an existing one. Moreover report also states an existing consumer contributes to sales 67% more than consumers. Loyalty programs are one of the most effective ways to create brand loyalty. You can offer your existing consumers discounts, exclusive deals, reward points to cash in on their next purchase. Having an online grocery mobile app boosts your accessibility to consumers making your online store available to them 24x7. • Convenience Today’s world is moving at lightning fast speed. Every need and requirement has to be catered to instantly. A small buffering screen on our video streaming irritates us to no end. The same attitude is applicable to all the other aspects, even grocery shopping. People don’t have time anymore to go to a physical store and pick out every single one of their needs. Convenience is the most sought after feature. This is what a mobile app offers, anywhere and anytime. As per a report among residents of metropolitan cities, 25% state that online grocery shopping is their preferred mode of grocery shopping. It is expected to topple the 50% mark in the next few years. All these changes are owed to growing demand for convenience and speed. • Customer Engagement Whilst undertaking grocery mobile app development for your e-grocery store you need to keep in mind the customer engagement. A mobile app frees you from the hassle of going through a third party for feedback and instead engage customers directly and exact user requirement via their reviews. As mentioned earlier instant is the need of the hour. You can make a new customer or break an old one based on the promptness of your services. Your mobile app gives the avenue to offer that prompt service which subsequently boosts revenue. These are the key features that are a must have in a grocery mobile app • Allow App Users to Create Shopping List As you build a grocery mobile app, the very first feature you need to consider is the “Creating a shopping List”. This feature allows the customers to create a grocery list that they want to purchase. Recommended Blog: 10 Features of a Good Grocery App That Allow Shoppers to Save Money Even though it might appear insignificant due its small appearance on the app it is a huge convenience for the consumer when they are looking for a particular product and have no idea about its details. An effective search feature can infinitely boost the usefulness of your app. • Special Deals, Offers & Rewards As stated earlier, incentives are crucial to maintaining consumer loyalty. Recurring offers and special deals for your existing consumer base on their favorite products can go a long way in building your brand loyalty. Your mobile app sign ins give you insights into the shopping habits of all your consumers thus make it relatively easy for you to offer the right deals on the right products. In this manner you not only keep your consumer loyalty intact but also earn good word of mouth which will further bring your more consumers. You can even conduct monthly contests and give your customers their most liked product at lucrative rates. |
AuthorI am Audrey Zack. I have a very strong background in technology and development with a passion for creating innovative design and developing simple solutions to challenging problems. I believe in result oriented and innovative project skills with top tier strategy, experience and technology. Archives
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