One of the main challenges for a new marketplace is to attract new vendors. Even having connections with the vendors and sellers may not help with the seller acquisition if the on-boarding and order management processes are not smooth. Often sellers opt out of joining a marketplace just because it may require time and effort to manage one additional sales channel. Setting up the storefront, uploading all products, manage orders – this may become a time-consuming venture and therefore a barrier for joining.

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COVID-19 outbreak brought a lot of challenges to the retail industry forcing thousands of companies to adjust, transform and evolve. On the bright side of things, coronavirus helped to identify hidden weak spots and pitfalls that otherwise might be ignored for another decade. This created a nurturing environment for new solutions that help improve e-commerce journey and accelerate retail digital transformation.

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Before the internet, the most common way to find businesses, products, and services was to search in the Yellow Pages (Yellow Book) – a telephone directory with the entire listing of businesses or vendors, organized by category. In the early ’90s, at the very beginning of the internet era, Yellow Pages concept moved online where listing websites like Yahoo listings or Craigslist offered search and categorization where in addition to viewing just listings of these businesses you could search for a business and find the one you’d like to engage with.

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Online retailers today are seeing record growth in online sales driven by Covid-19. There is an increasing appetite for online ordering from customers who are under lockdowns, working from home or who simply enjoy the convenience of buying online. However, for an online retailer, the sales growth leads to increasing costs being incurred in inventory holding costs, sourcing increased inventory, stock delivery, and fulfillment.

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Professional services marketplace refers to a marketplace where a customer can search for and find a service providers from whom they can either purchase a service at a fixed price, request a quote, make an online booking or perform some other call to action that results in an exchange of services.

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We believe that a powerful marketplace platform must also be easy for vendors to use. Omnyfy marketplace offers a comprehensive management interface for vendors to receive orders and fulfill their orders with complete control over the pick-and-pack process.

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Create B2C or B2B Product Multi-Vendor Marketplaces that enable buyers to purchase products from multiple sellers in a single order. Create the next Etsy or develop a niche marketplace for your industry using hundreds of powerful functions designed specifically to enable multi-vendor product commerce.

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A Marketplace is more than just a platform, it is a business model and if understood properly it can offer organizations and enterprises a new way to extend business offering, grow sales and bring customer experience to a new level.

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