Operating a white label marketplace?
Strap-in for the journey ahead gonna be exhilarating!
Managing your enterprise brand and staying ahead of the competition requires some serious organisational skills, a next-gen enterprise marketplace platform, and your brand’s collective commitment to excellence.
Find all the juggling to be overwhelming?
No worries, we got you covered.
Table of Contents
White Label Marketplace: Market Trends and Challenges Implementing Them
Running a white label marketplace, like every other ambitious enterprise business comes with a host of challenges.
Right from nurturing supplier relationships to offering the best products and services and keeping your customers happy, requires a lot of parts aligned and moving in tandem.
And to have a smooth and well-oiled marketplace set up, you need to stay attuned to what your buyers expect from your enterprise marketplace platform.
Wondering how to learn about the latest buyer preferences?
Let's deep dive into some latest trends and buying patterns of buyers on online marketplaces:
- 48% of buyers prefer going straight to a marketplace website when shopping online
- 94% of B2B buyers use online marketplaces to source products/services
- 71% of consumers expect the businesses they buy from to know their interests
- 80% of customers agree that customer experience is just as important as products and services
- 86% of consumers will use at least 2 different channels to make a purchase
Source: Statista, McKinsey, Forbes
With the changing buyer trends, white label marketplaces need to adapt to the market scenario. Whilst creating a marketplace comes with a host of opportunities, it is indeed challenging to align your white label online marketplace for changing buyer expectations. With a myriad of functions to take care of, it is a constant juggling act of managing vendors, ensuring quality shopping experience, etc while also planning to grow your business.
Top 5 challenges of running a white label marketplace and how to overcome them
Well, unlike the traditional ecommerce models, a white label marketplace needs meticulous attention and strategic planning. It is not wrong to say that it comes with its own set of challenges like managing the vendors and complex supply chain.
Fret not, along with the top 5 challenges of running a branded marketplace website, we also bring to you tips and tricks to overcome them.
Consistent brand experience across channels
Connecting with your customers across multiple channels and creating a consistent buying experience on their white label marketplace can be challenging for any enterprise brand. Yes, gone are the days when just being online did the trick, customers today expect their brands to engage with them on multiple channels. Along with being available across multiple touchpoints, you also need to design each channel with a consistent look and feel aligned with your brand experience.
To navigate the challenge you need a white label marketplace software that helps build tailored solutions and gives you full control over branding and user experience. Sounds challenging quite a lot but is possible with a customizable white label website builder..
StoreHippo ecommerce solutions come with an easy-to-use omnichannel solution to help you create a consistent omnichannel brand presence. With the customizable marketplace website builder, StoreHippo, you can seamlessly create new frontends and connect with your buyers using the same backend logic and APIs. StoreHippo also comes with a built-in design themes library that helps you design well-crafted, engaging, and conversion-oriented marketplace websites. You can also create consistent brand experience by integrating with favoured payment solutions from StoreHippo. You can choose from 60+ pre-integrated domestic and international payment gateways to create a consistent and frictionless payment process on your white label marketplace.
Managing a vast vendor network
Given that the customers today look for a wide product catalogue before making a purchase, you need multiple vendors on your ecommerce platform. Wondering if it is tough to manage them all? Well, it is a tad bit challenging and tiresome to manage the vast network of vendors on your marketplace. Right from onboarding your vendors to managing their commissions, approving their products, looking after their payouts, setting seller-based discounts etc, on your white label marketplace, can be quite a challenge. But how to tackle this?
With StoreHippo’s end-to-end multi vendor ecommerce solutions, you can seamlessly set-up a vast network of vendors in just a few easy steps. StoreHippo’s comprehensive vendor solutions offer easy vendor onboarding process making it seamless for even novice sellers to start sell on the platform. StoreHippo offers a separate vendor dashboard on your white label website for each seller to help them manage their business with complete freedom. Sellers can seamlessly manage and overview all their business details at one place. StoreHippo also creates a unique sellers page for each of your vendors to help them get undivided customer attention and to help the customers reach their sellers for repurchases. With the scalable multi vendor marketplace platform, StoreHippo, you can onboard a multitude of sellers and manage them with easy ecommerce solutions. StoreHippo also gives its admin the power to approve or disapprove the vendor products before they are made live for the customers.
Adapting to dynamic market changes
Driven by evolving customer behaviours, the ecommerce market is all about quick changes. Well, it can be challenging for white label marketplaces to keep up with the dynamic market shifts. The rapid evolution of technology and business models requires you to get regular updates, adapt, and transform. Yes, you need robust agility, adaptability and flexibility to stay ahead of your competition and embrace the ecommerce evolution.
Challenging, isn’t it? Wonder how to ace the game of adaptability?
StoreHippo enterprise marketplace platform is built on a decoupled headless architecture that can be tweaked inside out to adapt to the market dynamics. With StoreHippo, you can implement multi-level personalizations like building multiple storefronts for different locations, audiences or product categories. You can customize your shipping and payment solutions, offer multilingual content, and personalize the pricing, store designs, discounts etc with StoreHippo. You can completely mold the ecommerce platform to fit the unique needs of your business with the inherent flexibility of StoreHippo. With the ease of tweaking the front end as well as the backend, you can seamlessly build a flexible future-ready enterprise white label marketplace for your brand.
Coping with hypergrowth
Often underestimated, it is challenging to cope with hypergrowth on your existing platform. As you scale to millions of customers and thousands of products, you might have to consider ecommerce platform migration as your existing software is not scalable. Now that is quite a challenge, isn't it?
While charting your brand’s success, it is essential to factor in the scalability of your platform and monitor the performance of your white label online marketplace. Yes, the scalability, performance, and security of your white label website go hand-in-hand. Wonder what’s the trick to achieve it all?
Choose a scalable multi vendor marketplace platform that can rescue you with its secure and scalable cloud-native infrastructure like StoreHippo. Built on the most advanced technology stack (MEAN Stack), StoreHippo offers an inherently scalable solution for your enterprise business. You can build disruptive solutions by offering consistent high-performance even when your business grows exponentially. StoreHippo offers peak-load tolerance even during seasonal times and 99.99% uptime with autoscaling, redundant server architecture. You can plan enterprise growth and secure the websites without bothering about replatforming. StoreHippo is a secure PCI-DSS-compliant ecommerce platform that creates highly secure white label marketplaces by prioritizing customer safety. StoreHippo offers robust multi-layer security solutions including inherent cloud security, SSL certificate, PCI-DSS compliant payment gateways, data encryption, etc.
Experimenting with new software and services
Now a white label platform is all about experimenting and overhauling the website according to the brand’s needs. And since every brand has its unique needs and requirements, a rigid platform makes it challenging to experiment with new software and services. The way forward is to rely on a next-gen ecommerce technology that gives better creative control to seamlessly overhaul the backend and the frontend. A customizable marketplace website builder helps you keep your business attuned to the dynamic market trends and experiments without having to disrupt the flow.
StoreHippo is built on the most scalable technology stack. With the next-gen MEAN stack and with SPA (Single Page Application), brands can build cutting-edge ecommerce stores for their enterprise business. StoreHippo gives you the freedom to experiment, innovate, add, and remove. repeat and scale with the powerful MACH architecture. It gives you an edge over the competition with its API based integrations and microservices based architecture.
Conclusion
Wonder how you can propel your white label marketplace to greater heights? With the help of a highly scalable and customizable marketplace website builder like StoreHippo, you can streamline operations, enhance user experience, and adapt to evolving market demands. Yes, you need a solution that is reliable, feature-rich and futuristic at its core.
StoreHippo is a scalable multi vendor marketplace platform that comes with 300+ enterprise-grade features and supports a variety of business models like B2B, B2C, D2C, B2B2C, hyperlocal commerce, etc. All you need to do is leverage the right solutions to your benefit and carve a niche for your enterprise brand. StoreHippo ecommerce solution can help you reach new markets, improve your efficiency, and future-proof your brand, all while also helping you navigate through the challenges smoothly.
Are you all set to build and manage your white label marketplace website with StoreHippo enterprise marketplace platform? Start your 14-day free trial now.
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