You did your best to clarify how profitable the usage of the eCommerce can be and finally made a decision to create your own virtual shopping mall. The ecommerce marketplace model is ready for implementation into reality and you made your crucial choice in relation to the marketplace software solution which should be used in your online trading center. What is next?
In order to make your further steps easier, we provide you with the range of practical advice given by real owners of lucrative virtual shopping malls. It will be really helpful to browse through them before opening a virtual marketplace business. You will save your time and be able to operate in your ecommerce trading center efficiently.
Opening an online marketplace from scratch is a tough business. First of all you need to plan your business strategy and make all the necessary preparations. Second, you need a reliable base for your multi vendor ecommerce website—a powerful CMS that will have all the necessary functions. And that's just the beginning because the worst is ahead.
The main challenge you will face at the beginning will be the "chicken and egg" problem. It is hard to attract vendors if there are no customers. And customers don't shop at your marketplace if there are few vendors. Then you need to make your website convenient for both customers and vendors giving them all the necessary tools to buy and sell. This is a long road to success and you'll have to build trust and help your vendors market their products. You can learn all of this in our educational articles dedicated to the ecommerce marketplace management.