With the growing demand of the eCommerce industry, every business wants to have an online store where they can sell their whole set of services and products. As a business owner, you can avail countless benefits by selecting eCommerce as it gives extensive benefits to merchants and retailers.
As reported by the Middle East B2C e-commerce market 2018 report, the e-commerce market is set to make $20 billion by 2020 in UAE alone. And, in the US, 60% of people buy goods online, and the number is regularly increasing.
From this data, it can be interpreted that the eCommerce industry is expanding at a faster rate, and there is plenty of room for beginners.
What’s The Future Of Ecommerce?
Present e-commerce data states that 40 per cent of global internet users have purchased products online, and it is estimated to grow consistently.
This is why the future of e-commerce seems favourable. Once a business walks into the online world, there is no reverse gear. If you are set to enter into this industry, e-commerce is going to give you more than you expected.
Single Vendor vs Multi Vendor
Now that you have decided to get into this promising industry, you might want to choose either a single vendor or multi-vendor marketplace.
With a single-vendor platform, everything is faster and needs fewer efforts, as there are fewer people engaged in a buying-selling procedure. You can easily set reasonable rates for your goods & make them more appealing because dealing with just one vendor is quite easy.
The multi-vendor platform, on the other hand, costs high to a business owner. In this case, you have to bargain the costs of services with each vendor individually. Their prices can differ significantly, and it will be tough to agree on possible discounts.
To get more insights, here are the 4 reasons why starting a single vendor eCommerce platform can be your best decision.
High level of Compatibility
With a single vendor approach, there is a higher level of compatibility between you, customers and vendors. And the multi-vendor method, on the other hand, lacks compatibility.
Building a communication process is easy with a single vendor approach. It takes less time and effort to communicate about problems as they appear than it would with multiple vendors.
Faster entry into the market
As there isn’t any communication gap in single-vendor approach, the team here can work faster as compared to the multi-vendor approach.
From the above points, we can conclude that a single vendor platform is a cost-effective solution for anyone looking to enter into this promising market. In addition to this, negotiating with one vendor is easy.
Nothing is perfect. Starting an eCommerce platform is a dream of many aspiring entrepreneurs. Of course, it would be as there are lots of benefits related to it. With a 24/7 open window, global reach and less investment, a single vendor platform make a lot of sense than a multi-vendor platform.
Now that you know which one is best for you to start an eCommerce store, it would be best to get it done from professionals. As a business owner, you don’t want your money to get wasted.
You want the highest return, right? So, why not to get it done from professionals who are already qualified in making an eCommerce store.
Want the maximum benefit out of your investment? Launch your own branded online store today with Code Brew and start enjoying the benefits of a single vendor platform.
Get in touch with us today.