How to build a global FMEG online marketplace

With astronomical growth in online buying, customers do not shy away from buying electrical goods online today.

So if you are planning to launch a global online marketplace for your FMEG business, kudos to you for making a wise decision.

But are you wondering how and where to start? 

Struggling to kick-start your global online journey?

Not sure if you are on the right path as you plan to create an online marketplace?

Wonder what solutions to look for in your ecommerce platform to expand your business in the global markets?

Find answers to all your questions in the detailed blog with StoreHippo.

How to build a global FMEG online marketplace

To build a global online marketplace for your fast-moving electrical goods, you can opt for one of the following two options:

• Either build the marketplace from scratch with a team of professionals that costs a lot of time and money 
• Or use a SaaS-based turnkey ecommerce solution provider to build multi vendor marketplace and onboard global vendors

However, enterprise brands that are planning to build disruptive online marketplaces should be looking at a shortcut way to build their online presence. And what could be better than a SaaS-based ecommerce solution provider that helps them go to the market in record time?  

Wondering what makes us say so? 

Take a look at a few benefits of building your online marketplace using a SaaS-based ecommerce platform:

• A cost-effective solution that gives you freedom from the recurring cost of software and hardware purchase, maintenance and upgradation
• A modular and well-rounded solution that makes it easy to add or remove modules for various business functions
• Inherent flexibility makes it easy to customize and make changes as per changing market demands
• The scalable infrastructure allows for rapid growth without worrying about spending additionally on upgrades
• Builds out-of-box solutions with seamless integrations with various third-party softwares
• Provides a technological edge as the software is always up-to-date and streamlined with market requirements
• Automated processes ensure faster and error-free work leading to increased efficiency. 

As you create an online marketplace with a SaaS-based ecommerce platform like StoreHippo, you get a seamless experience for both your customers and vendors. With a turnkey, fully hosted, and managed multi-vendor marketplace solution like StoreHippo, you do not need additional plugins or coding to build, launch and grow your global FMEG marketplace. 

Let us look at the complete guide to help you create an outstanding marketplace for your fast-moving electrical goods business with StoreHippo. 

Infographic: 7-step guide to create an online marketplace for your FMEG business

Choose your ecommerce software

The one thing that matters the most when you build your fast-moving electrical goods online marketplace is the choice of your ecommerce software or solution provider. You can only carve a niche for yourself when you choose your ecommerce solution wisely.

StoreHippo ecommerce website comes with a host of in-built features that help you customize your ecommerce platform to the unique needs of your business. With the advanced creative control by StoreHippo’s MACH architecture, you can implement high-level personalizations and tailor-made solutions. Apart from this, StoreHippo offers a host of features to help you create an online marketplace solution with the best features and tools. Here’s how:

• Offers 300+ inbuilt features 
• Built on mobile-first technology 
• Offers peak load tolerance with its inherently scalable infrastructure
• Global solutions like multi-lingual and multi-currency 
• 60+ pre-integrated payment solutions
• 30+ pre-integrated logistics solutions
• In-built tax-engine for quick tax compliance
• Seamless delivery boy management system 

With StoreHippo ecommerce solutions, you can create an inherently scalable and flexible online marketplace that can be scaled as the business grows even to global markets.  

 Pick a unique domain name

Once you have selected your ecommerce platform and defined your target audience, you need to have a domain name for your online marketplace. Though, choosing a domain name can be a bit challenging. You need a domain name that not only identifies with your business but is also unique so your audience remembers your brand. 

With a domain name, you also need an SSL certificate to help you protect your marketplace from hackers and malware. StoreHippo gives you a free SSL certificate for marketplace websites built on the platform. 

Onboard global FMEG vendors 

To sell FMEG online to a global audience, you need to onboard multiple local and global vendors on your online marketplace. If you are wondering how to manage a plethora of vendors on your platform, StoreHippo got your back! 

StoreHippo comes with an end-to-end vendor management solution to help you make the vendor onboarding process easy and seamless. It creates individual vendor accounts with a simple registration process and offers a user-friendly interface. 

StoreHippo comes with advanced tools and features to help you manage your vendor and add their FMEG products seamlessly on the platform. Like, 

• Individual vendor accounts and simple registration 
• End-to-end vendor onboarding and management solutions 
• User-friendly dashboards to help vendors manage their business operations
• Complete approval flow control with the admin to approve or reject vendor products
• Easy product management solutions helping the vendors upload bulk products using CSV

With a comprehensive solution from StoreHippo, you can create an online marketplace and easily onboard the vendors and manage them seamlessly.

Style up your global online marketplace

For your customers to love and engage with your marketplace brand, you need to style up your platform as well. The more pleasing it is to the eyes, the more time your customers will be spending on your platform. Yes, people love to shop from multi vendor marketplaces that offer them a clear view of their electrical products with a rich design theme. 

StoreHippo comes with an in-built theme designer that helps you give a rich look and feel to your online marketplace. You can choose from a variety of designs from StoreHippo’s rich design themes library and create beautiful professional-looking ecommerce websites. It also offers an easy drag-and-drop tool that helps you play around with the designs with no need for coding. You can quickly give your website a global look by offering a rich set of design variables and boosting customer engagement for your global marketplace. StoreHippo also enables you to translate your FMEG website into 100+ languages including the RTL languages like Arabic and Hebrew.

Create a seamless checkout process 

Flexible payment options can grow your business like you never imagined. When you create an online marketplace for your fast moving electrical goods business, it becomes imperative to not only offer multiple payment options but also enable multi-currency payment options for your global customers. Yes, a complex payment process can mar your business and push the customers away. 

StoreHippo offers a full spectrum of payment options with 60+ pre-integrated domestic and international payment gateways like net banking, credit and debit cards, store wallet, COD, etc for your online marketplace. StoreHippo also enables you to implement multiple payment gateways based on the location or device of the buyers and supports transactions in multiple currencies for frictionless payment processes by your global customers. 

Align shipping partners for seamless delivery

Did you know that 61% of consumers are willing to pay more to have their products delivered on the same day? Yes, the new-age buyers want their household electrical appliances and goods to reach them ASAP. Align your business with multiple shipping partners to provide your customers with a seamless delivery experience.

StoreHippo comes with inbuilt shipping solutions for you to choose the best fit from multiple shipping partners and streamline quick order deliveries on your online marketplace. You can set up automated integration in no time with StoreHippo for a seamless delivery process of your FMEG orders. You can also choose from international shipping solutions or integrate your custom global shipping provider easily. You can onboard, manage and track your delivery agents right from your admin dashboard and so can your customers. StoreHippo comes with a complete delivery management solution that enables your customers to track their orders on mobile and desktops. With the advanced delivery boy management software from StoreHippo, you can streamline your delivery and manage your fleet of delivery boys seamlessly.   

Market your brand to the target audience

Once you create an online marketplace to sell your fast-moving electrical goods, you also need to market it to your audience. With such fierce competition in the ecommerce industry, marketing becomes the most important factor to ensure unprecedented growth of your FMEG business. 

StoreHippo offers a host of in-built marketing tools like a powerful discount engine, SEO tools, blog engine, etc. to help you market your business. With the SEO elements from StoreHippo like meta titles, meta keywords, alt tags, sitemap, etc, you can quickly make your FMEG online marketplace rank higher on SERPs. The powerful discount and coupon engine, personalized notifications, abandoned cart recovery, etc help you offer multi-level discounts with a touch of personalization. You can also use the inbuilt blog engine from StoreHippo to publish a variety of content and build a unique brand presence. 

Conclusion

To create an online marketplace for your fast moving electrical goods business, you need a comprehensive ecommerce solution that can help you grow leaps and bounds. With a future-ready ecommerce solution provider, you can set your FMEG business on an upward growth trajectory.

StoreHippo ecommerce solution provider comes with 300+ inbuilt features offering 360-degree solutions for growth. It helps you create a conversion-oriented global online marketplace that can convert customers from various locations across the world. 

So are you ready to create an online marketplace with StoreHippo? It’s time to give your global FMEG customers a buying experience that makes them loyal to your brand. Get started now by exploring the enterprise-grade features with the 14-day trial.