8 Challenges of Running Your Enterprise Marketplace in India

Struggling to keep your enterprise marketplace in India afloat? 

Facing challenges and uncertain about how to tackle them?

Well, building and managing a successful enterprise marketplace is no easy task. 

From navigating the complexities of the dynamic market to competing with industry giants, the journey is as demanding as it is filled with opportunities. 

Wonder how to address these challenges and build an enterprise marketplace?

With robust enterprise marketplace software and well-crafted strategies. 

Yes, that is your roadmap for substantial growth and long-term success.

Running Your Enterprise Marketplace Made Easy

To seamlessly navigate through the challenges of running an enterprise marketplace, you first need a clear understanding of the ecommerce market. Here is a sneak peek at some of the Indian ecommerce industry trends:   

• $ 350 billion is the estimated worth of the Indian ecommerce industry by 2030
• $ 1 trillion is the estimated reach of India’s internet economy by 2030
• $150 billion will be spent by online shoppers in India by 2025
• $100 billion is the predicted D2C market size in India by 2025
• 425 million is the predicted number of online shoppers in India by 2027

  Source: Statista, Times of India

With the growing Indian ecommerce market, your business has the opportunity to leverage the trends for business growth. By understanding market dynamics and investing in a robust marketplace software, you can transform challenges into opportunities, and position your enterprise marketplace in India for substantial growth and in this rapidly expanding digital economy.  

Let us understand the challenges of running your enterprise marketplace in India and how to turn them into growth opportunities

8 Challenges of Running Your Enterprise Marketplace In India - And The Solutions To Overcome

The challenges faced by each business are different. From navigating complex regulations to competing with established giants, the journey is filled with both opportunities and obstacles. 

Let's explore some of the key challenges faced by the enterprise marketplace in India. 

1. Catering to Vendors From Diverse Regions

Fast growing enterprises like yours often build their expansive catalogs by onboarding vendors from diverse regions in India. However, onboarding vendors from across the country and managing them is not easy. To keep your orders flowing in, you need to build an enterprise marketplace that helps you with the seamless vendor registration process and enables your vendors to run and manage their business effortlessly.. 

StoreHippo ecommerce solutions come with a built-in vendor management solution making it easy to onboard multiple vendors and manage them on your marketplace. StoreHippo offers a separate vendor dashboard to each seller helping them manage their products, orders, inventory, returns, refunds, etc. You can create a new and unique seller page for your vendors and help them get undivided customer attention.                                                                                                            

2. Creating An Omnichannel Presence 

Enterprise brands need to maintain a consistent brand image across all channels. With the growing Indian ecommerce industry, it becomes crucial to engage with the audience on multiple channels. Sounds challenging, right? Creating an omnichannel experience on your enterprise marketplace in India needs a platform that offers easy omnichannel solutions. The marketplace builder should be not only suitable for India's specific market conditions but also capable of delivering a consistent user experience across all channels.          

StoreHippo ecommerce marketplace website builder comes with a comprehensive omnichannel solution that helps you create new touchpoints using the same backend logic and APIs. With StoreHippo, you can also centrally control all the sales channels and use a central dashboard to manage your enterprise marketplace in India. You can create consistent buyer experiences across multiple channels to boost engagement in your marketplace. StoreHippo also offers better customer insight from multiple channels to help you leverage the most profitable channel and create data-driven marketing strategies. 

3. Personalizing Your Enterprise Marketplace in India

To keep up with the rapidly evolving Indian market, you need to create a personalized user experience on your marketplace. While turnkey e-commerce solutions provide a solid foundation for online marketplaces, personalization is often necessary to meet specific business needs. With the diverse needs of various buyer segments in India, it becomes tough to personalize your marketplace for different target audiences.    

StoreHippo enterprise marketplace software is built on a decoupled headless architecture, offering a flexible ecommerce platform that helps you customize the frontend as well as the backend. StoreHippo helps you personalize the products, prices, offers, shipping, checkouts, content, design etc. StoreHippo also supports 100+ languages including RTL (Right to Left) languages like Urdu. With easy-to-use multilingual solutions from StoreHippo’senterprise ecommerce platform, you can easily translate your website into multiple languages and connect with customers across India. With the API-based architecture from StoreHippo, it becomes seamless to integrate the marketing software of your own choice and boost your conversions. 

4. Building Multiple Apps to Leverage Mcommerce

With the Indian ecommerce market shifting rapidly towards mobile commerce, it becomes important to target the audience on different mobile channels. With over 60% of the orders across industries now originating from mobile devices, your brand needs solutions that prioritize mobile experience. Creating multiple mobile solutions for different users can be challenging for brands if they do not have an enterprise ecommerce platform with comprehensive mobile solutions. 

StoreHippo’s ecommerce platform is built on the mobile-first principle that comes with a built-in mobile apps builder. StoreHippo enables your brands to create Andriod and iOS mobile apps right from your admin dashboard at zero additional costs and with no coding required. Stores built on StoreHippo are also PWAs, that work, look, and feel like mobile apps even on entry-level devices. StoreHippo also offers a variety of built-in mobile apps for admins, vendors, delivery boys etc. to help them handle their business on the go. 

5. Offering Multi-Channel Support to Customers

Customers love it when their favourite brands build an enterprise marketplace that is available round the clock to address their issues. Well, customer satisfaction matters the most to Indian buyers. Promptly addressing customer concerns can help boost your brand value. Research suggests that customers increasingly favor brands that provide multi-channel customer support. However, creating a multi-channel support system aligned with a self-service business model can be a complex challenge. 

StoreHippo enterprise ecommerce platform helps you overcome the challenge of offering multi-channel support to your customers. Wonder how? With StoreHippo, you can seamlessly connect to your customers on your enterprise marketplace through automated tools and features like abandoned cart follow-up, SMS, push and email notifications, social media integrations, live chat, chatbot, etc. StoreHippo also enables you to integrate with your favourite customer servicing software through APIs.               

6. Strategizing Growth with Analytical Tools

It can be tough to plan growth without the right analytical tools and create a robust marketing strategy without access to customer buying habits. To captivate customers and thrive in the competitive Indian ecommerce market, your brand must leverage data-driven insights and innovative marketing solutions. However, it can be challenging to integrate with multiple analytical tools if your enterprise marketplace software does not support seamless integrations. 

StoreHippo ecommerce platform comes with comprehensive and easy-to-use marketing tools that help you take your brand to the right audience in India. With the built-in powerful discount tool from StoreHippo, you can implement multi-level discounts on your marketplace. The built-in SEO tool helps you rank your multi vendor marketplace higher on SERPs by easily creating unique URLs for pages, meta titles, meta descriptions, meta tags, keywords, and more right from the admin dashboard. With the 120+ API endpoints, you can also integrate your enterprise marketplace in India with the marketing software and tools of your own choice.

7. Building a Streamlined Supply Chain

Brands can retain loyal customers by prioritizing transparent and timely order deliveries. It is, however, tough for enterprise brands to align their supply chains with consumer expectations and offer quick deliveries. When you rely on third-party logistics providers, you incur significant extra costs. Solution? Choose an ecommerce marketplace software that comes with built-in logistics solutions. 

StoreHippo enterprise marketplace website builder comes with 30+ pre-integrated logistics solutions to help you seamlessly create a supply chain. You can optimize the shipping costs on your marketplace with StoreHippo by integrating with more than one logistics partner. StoreHippo also comes with an in-built delivery boy management system that helps your vendors manage their own fleet of delivery boys and streamline safe, error-free order deliveries. 

8. Creating a Secure Enterprise Marketplace in India

When you build an enterprise marketplace in India, you need to prioritize your customer data security. With robust security measures on your platform, you can easily mitigate the risks associated with data theft and phishing. However, it is not easy to protect your site and customer data. You need an ecommerce platform that has all security measures in place to build a safe and secure online store.

Well, with StoreHippo’s PCI-DSS-compliant platform, you can secure your ecommerce stores in just a few easy steps. StoreHippo offers multi-level security features and tools like free SSL certificates, audit logs, etc for your enterprise marketplace in India. You can also offer secure transactions with StoreHippo’s PCI DSS-compliant payment gateway partners. 

Conclusion

Well, it can be challenging to run your enterprise marketplace in India. Given the technological advancements, reaching new markets and a wider audience comes with its own set of challenges and difficulties.

You can, however, choose an enterprise marketplace software that comes with robust features to help you seamlessly manage all the key challenges as you build an enterprise marketplace for your fast-growing business. StoreHippo ecommerce solutions come with 300+ enterprise-grade features and 120+ built-in integrations to help you improve your efficiency, and reach a wider market. 

Start your 14-day free trial now and explore the wide range of enterprise-grade solutions from StoreHippo enterprise ecommerce platform.