Future-proofing your enterprise brand is about keeping up with the trends by anticipating and embracing changes.
The success of your ecommerce business hinges on its ability to adapt and innovate.
Wonder how to stay resilient in the face of uncertainty?
The little trick is to target audiences with a multi store ecommerce business model.
Yes, what we have in mind is building a chain of ecommerce stores to stay futuristic in the ecommerce landscape.
Sounds stimulating?
Well, it can be an uphill task to manage multiple stores, but it's all achievable with the support of the best enterprise ecommerce solution.
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Why Multi Store Ecommerce Is A Step Towards Future Success For Enterprises
Wondering how a multi store ecommerce solution in India helps you future-proof your brand?
Fret not, we got you covered!
However, before we take that road, let us sample some data depicting how multi store ecommerce influences enterprise ecommerce trends:
- 95% of all shopping will be done online by 2040
- 32% of ecommerce businesses operate more than one online store
- 48% of buyers go directly to a marketplace when shopping online
- 28% of online businesses plan to expand internationally, making multi-store management a key enabler of global growth
- 38% higher revenue for companies managing multiple stores as compared to those with a single store
Source: Statista, McKinsey, Forbes
With the immense growth in the multi store ecommerce industry, and the buying habits changing constantly, enterprise brands need to cater to different audience segments differently. Just like one shoe doesn't fit all, one marketing approach doesn't fit all buyer personas. You might want to consider implementing a multi store business model, that also helps you future-proof your business.
How does Multi Store Ecommerce help Future Proof Enterprise Brands
Enterprise brands can future proof their business with multi store ecommerce solutions in multiple ways. To escalate your business to new geographies, new product lines, etc, a multi store model becomes just the right fit. Here’s how:
Reach A Wide Audience With Niche Stores
Future-proofing your enterprise brand would mean being able to cater to diverse audience groups. And since each customer segment comes with its own unique needs, you need to be adept at building tailored solutions for them all. With a multi store ecommerce solution in India, you can create niche stores for each customer segment and create unique buyer journeys for different user groups.
For example, you can create a youth-friendly makeup and cosmetics store for teens and college-going students and offer budget-friendly makeup and skincare. You can build another sub-store for middle class buyers in India and sell drugstore cosmetics. A third store can be created to target a niche audience of buyers looking for premium cosmetics and skincare items. Yet another store can be opened for professional make-up artists where you cater to bulk purchases.
Well, customers love the brands that offer them undistracted attention. Such audience segmentation not only opens your business for a wider audience but also makes your multi store ecommerce brand a one-stop shopping hub.
You can further create these sub-stores based on buyer location, diverse product lines, etc.
StoreHippo multi store ecommerce solutions help create multiple storefronts seamlessly. You can allocate different products, create different deals, etc on all your stores with a single database. With the central admin dashboard from StoreHippo, the best enterprise ecommerce solution, you can centrally control and manage all your stores. Built on a mobile-first technology StoreHippo also helps you create multiple mobile apps for all your stores. With mobile solutions or PWA stores from StoreHippo, you can seamlessly reach a wider audience from different corners in India.
Brand Diversification
You can label your marketplace futuristic when you are able to diversify to different markets, industries, regions etc seamlessly. And do you know how to diversify your brand? Well, it's easy. With a multi store ecommerce solution in India, you can scale your business to new geographies and new segments. You can onboard sellers/vendors from different locations and product genres to present various culturally relevant products to your customers.
For example, you have a store for grocery items catering to a particular audience group. You can further diversify your business by creating another store for pet-products catering to a different set of audience. Or you can diversify to a different location for your grocery store by onboarding vendors from the particular location.
Offering your customers ease of finding products with industry/product specific stores is a sure shot way to boost conversions and future-proof your brand. You can seamlessly create diverse product catalogs for each store and onboard multiple vendors to diversify your brand to multiple locations and products.
The best multi store ecommerce platform StoreHippo, comes with a comprehensive end-to-end vendor management system that helps you onboard multiple vendors seamlessly. The easy vendor registration process helps even novice sellers to start selling on the StoreHippo platform in just a few steps. StoreHippo offers a separate vendor account for each seller to help them manage their everyday operations in a hassle-free manner. As you onboard multiple vendors, you as an admin hold the power to approve or reject vendor products before they are live for public viewing. You can seamlessly allot different products to your sub-stores in India with product management solutions from StoreHippo, multi store ecommerce solution in India. You can also upload bulk products using CSV while diversifying your business to different locations.
Experiment With Strategic Marketing
Do you expect your marketing strategy to work the same for all customer segments? It won’t. To future proof your enterprise brand, you must experiment with different strategies and product-market mixes. You can seamlessly convert buyers by implementing unique marketing strategies for different sub-stores. A multi store ecommerce model enables you to try multiple product-targeting strategies and mixes.
You can seamlessly define multiple audience groups and plan for targeted marketing with a separate marketing strategy for all your sub-stores. With such a diversified marketing approach, you can achieve higher ROI, and convert potential customers seamlessly.
StoreHippo ecommerce solutions come with a host of marketing tools to help you boost conversions and experiment with different marketing strategy mixes. With the built-in SEO tools from StoreHippo, you get a unique URL for each sub-store without losing the domain identity. You can also set up unique meta details for each sub-store for faster and higher SERP ranking with StoreHippo multi store ecommerce solution in India. You can also create dynamic pages for any of the sub-stores to promote products specific to a geography, user segment, etc. You can also offer your customers personalized product recommendations based on their buying behavior and geo-location targeting.
You can experiment with various product-catalog mixes to promote your best-selling products in different stores. StoreHippo also offers other host of marketing tools like SMS, mobile and push notifications, online chat integrations. You can, however, also integrate your location based marketplace stores with other marketing tools of your choice for live chats, loyalty programs etc with the best multi store ecommerce platform, StoreHippo.
Boost Sales With Personalized Discounts
Customers love personalized deals and offers. Yes, more than 50% of the customers are willing to share personal information in exchange for personalized discounts. And the whole idea of creating multiple stores for your enterprise brand is to be able to offer multi-level personalizations, right? Offering discounts that are personalized to the customers needs and expectations help you gain customers loyalty and convert bigger ticket sizes.
StoreHippo is built on a decoupled headless architecture that helps you tweak your platform inside out without disrupting the entire ecosystem. StoreHippo, the best multi store ecommerce platform, also comes with a powerful built-in discount engine to help you create and implement multi-level discounts on your marketplace. The StoreHippo discount engine offers advanced features like device-based discount, location base discount etc. You can offer special discounted prices to your customers who order in large quantities or are regular on your multi store marketplace.
With StoreHippo, you can also engage with your audience using customized message templates. You can use these customized emails, PUSH notifications, and message templates to inform your customers about personalized discounts or offer them personalized product recommendations. Such personalized real-time notifications feature from StoreHippo, the best enterprise ecommerce solution also helps you recover abandoned carts. You can notify your customers about price drops on items they left in their shopping cart and convert potential sales.
Leverage Price Override to Boost Profit
Pricing override means tweaking the price of the same product for different buyer segments based on their purchase volume/ frequency, long standing relationships, or location. The pricing override feature can easily be implemented by offering different prices for the same product on different stores.
Implementing differential pricing in this manner can help your enterprise maximize profits by boosting ticket size, optimizing margins and differentiating your business as customer centric. Differential pricing also makes it easier to attract buyers with competitive pricing on your multiple stores and can work as an effective marketing strategy for your enterprise brand.
StoreHippo comes with a price override feature that helps you list similar or the same products at different prices depending on the location of each store. You can boost your profit margins by offering custom prices to different customers based on their location. Or, you can define the prices based on other factors like order frequency, geolocation, etc.
Plan Growth With International Stores
An enterprise brand like yours might want to leverage the growth of global ecommerce in the future. With customers more eager to buy from global brands, it is wise to create multiple stores for different locations. With a multi store ecommerce business model, you can expand your business to global markets seamlessly. For every international location, you can create a sub-store and scale your business to greater heights.
For example, you can create multiple sub stores for your fashion business in different geographies. However, to run and grow your business in international markets you might want to onboard the local vendors, create local shipping channels, and offer ease of payment in local currency.
StoreHippo is the best multi store ecommerce platform that helps you take your business to the global markets and create international stores with its global solutions. You can create multilingual ecommerce stores with StoreHippo’s support for 100+ languages including left-to-right languages like Hebrew and Arabic. StoreHippo also has 60+ pre-integrated payment gateways supporting payment in multiple currencies. You can integrate with more than one payment solution to create a seamless payment process. You can also choose from 30+ pre-integrated logistics solutions to create a hassle-free supply chain for your global sub-stores.
Data-Driven Decisions For Growth
Access to a wide range of customer data and analytics helps brands make strategic growth plans. With a multi store ecommerce setup that caters to different sets of audiences, you can get access to various data like customers' shopping behavior, purchase history, etc. Using these buyer data, you can seamlessly draft a marketing strategy that works best for your enterprise brand.
To understand your customer and their shopping habits in and out, and to create strategies that help convert, you need a platform that offers best-in-class analytical tools. Building multiple individual stores for different sets of customers helps you get access to rich customer behavior insights for business growth.
The best multi store ecommerce solution in India, StoreHippo comes with a gamut of analytical tools to help you analyze your customer segmentation. You can make data-driven marketing plans for your business growth with StoreHippo. Built on a decoupled headless API architecture, StoreHippo helps you seamlessly create various landing pages, and custom forms personalized to your unique requirements, etc to help capture rich customer data. With StoreHippo you can also place built-in forms at different stages of the shopping journey to capture customer feedback. You can also integrate your international marketplace website with several data tools like Google Analytics, Zoho, etc.
Conclusion
Well, its simple. With the multi store ecommerce model you can future-proof your enterprise business and stay agile in the evolving digital world. Multi- store solutions help you leverage flexibility and scalability while also catering to the unique needs of your customers.
However, you need the best multi store ecommerce platform to be able to create the best-in-class shopping experience for your buyers across all sub-stores. StoreHippo offers the most comprehensive features to help you cater to the diverse requirements of your diverse audience segments. With its 300+ inbuilt features you can seamlessly carve an upward growth trajectory for your enterprise business. Built on flexible and agile MACH architecture, StoreHippo helps you customize, scale and innovate your network of sub-stores.
Are you ready to future-proof your multi store ecommerce business with StoreHippo? Explore the wide range of features by starting your 14-day free trial now. .
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