I have experience with creating a marketplace that sells intangible products (software, media, etc.) but have wondered about what pitfalls might exist for a similar marketplace where vendors could sell their own tangible/shippable products. Could it be as simple as having them create an account and start selling and then fulfilling the products themselves? I suppose that is how Amazon does it? Various vendors end up fulfilling their own products, but Amazon just takes care of the order process? Any other issues I should think about with this model?
There are some key challenges I gonna address
Online Identity Verification: When someone visits your website, how do you know if that person is genuinely interested? Are they entering their real name and contact information? For all you know, all of the information they enter could be fake.
Solution: identifies and uses multi-layered authentication for fraud control. Some of its top features include electronic identity verification, SSN verification, instant authentication, and identity checks. Overcome these eCommerce business challenges by staying a step ahead of the hackers.
Competitor Analysis: In the super-competitive eCommerce business world, many competitors are offering similar products and services. So, how do you set yourself apart?
Solution: Conduct a thorough competitor analysis to find out what products your competitors are offering, and how much they’re selling it for. What platforms are they using to connect with customers? How are they generating leads? Do they have any promotions going on?
Customer Loyalty: Did you know that it can cost up to 5 times more to acquire a new customer than retaining an existing one?
Solution: To maintain customer loyalty, you MUST provide excellent customer service. Create positive experiences for your customers so they trust you. After all, if your customers are happy, it’s likely they’ll purchase from you again.
Product Return and Refund Policies: Never hide or try to trick customers about your return policy. Be transparent and make sure customers can easily find details about the return process. Make sure the policy is easily accessible on your website, and include FAQs to make things easier for your customer to understand. And finally, avoid words that are difficult to understand.
I've successfully helped over hundreds of entrepreneurs, marketplace owners, and businesses, and I would be happy to help you. Please send me more information before scheduling a call - so I can give you maximum value for your money. Take a look at the great reviews I’ve received: https://clarity.fm/ripul.chhabra
Answered 3 years ago
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