Marketplacer is a global technology led platform which enables our customers to create all types of marketplaces. We license and leverage our marketplace platform and expertise to make it easier to create successful, scalable and limitless online marketplaces.
B2B Marketplace Software Topics
Marketplace Software FAQ
What is B2B marketplace software?
B2B marketplace software (sometimes called multi-vendor marketplaces), allows a business to create and manage a digital storefront with their product listings alongside multiple vendors. These tools simplify the process of creating, hosting, and managing an online marketplace, from design to shipping.
Marketplace software is similar to an eCommerce platform in that it facilitates the construction and management of a digital storefront, but unlike an eCommerce platform, which sells from one vendor, multiple vendors make up a digital marketplace.
The software should allow the creation and hosting of a website capable of supporting multiple vendors, provide payment tools, allow vendors to create new listings for their products, offer a communication channel between the buyer and vendor, and offer security and/or encryption of data and information.
Why B2B businesses use marketplace software.
Marketplace software provides a platform for a collection of businesses to offer a range of products and services that one single business may not be able to fulfill on its own. Because a marketplace doesn’t offer products directly sold by the business that created the marketplace, the overhead is much lower. However, attracting businesses to provide services on the marketplace could be more time-consuming than procuring inventory.
Marketplaces are easy to scale as you grow. If a large number of businesses want to offer products or services on the marketplace, it is much easier to accommodate them than buying and supplying more inventory.
Who uses marketplace software?
A marketplace administrator may create a marketplace to bring a variety of products to their customers and oversee the day-to-day logistics of running the platform and handling any issues encountered by merchants or customers.
Small businesses owners benefit by setting up an online store, minus the hassle of running it. They provide inventory and manage the shipping, but admin tasks are taken care of.
What features does marketplace software have to offer?
With a variety of vendors and products hosted, the software should allow for searchability. While some customers are happy to explore, it’s more likely B2B buyers will come looking for a specific product in mind and they’ll want to find it quickly.
The software will typically allow for each vendor to have a dedicated page with their products, services, and contact information. Some software also allows merchants to customise their pages to help create an experience tailored to their customers.
A marketplace should also offer support features for both vendors and buyers, product recommendations to help customers find products based on their viewing or purchasing history.
From the merchant side, they should be able to access a dashboard where they can track sales and data collected from the marketplace so they can make adjustments as needed or communicate with the marketplace host.
Marketplace software trends and insights.
Emerging technologies such as digital wallet integration, increased payment options to allow for a wider variety of customers, and using artificial intelligence to improve the customer experience are constantly evolving.
Discover the latest B2B industry trends and insights by clicking here.
What’s the best marketplace software for my B2B business?
The B2BEA has a shortlist of approved partners available on this page.