Why enterprises should build multi store online marketplace to nail cross border ecommerce

Striving to excel in cross border ecommerce?

Start by embracing innovation and adaptability.

To redefine the traditional ecommerce landscape and dominate the global ecommerce arena, enterprise brands need to opt for out-of-box solutions.

Wonder what is the little trick to attract customers from across the globe?

How about creating multiple location based marketplace stores?

Yes, we are talking about building your multi store online marketplace to engage, target, and convert customers better. 

Let us revolutionize the way of doing business - one dedicated store at a time. 

Harness the Power of Multiple Locations Based International Marketplace Websites

Catapult your international business to greater heights of success by harnessing the potential of a multistore ecommerce model and creating various dedicated shopping channels for your target audiences.

Let us start by overviewing some cross border ecommerce growth data: 

• 3.3 trillion in cross-border eCommerce transactions will be conducted by 2028
• 27.4% is the CAGR of global cross-border ecommerce from 2018-2027
• $ 7.9 trillion is the expected reach of the global B2C cross-border ecommerce market by 2030
• 52% of online shoppers report shopping internationally
• 75% of consumers say they favor companies that offer rewards
• 56% of global consumers say customer service is important in brand choice and loyalty

Source: Forbes, Statista, Business Wire

With global ecommerce business models conquering the ecommerce sector, the best way to capture the global audience is to create an international marketplace website with location-based online stores. Customer buying habits have also shown major shifts as buyers research, look for options, compare prices, check the brand’s reliability, etc before going ahead with the purchase. Creating multiple location-based storefronts helps you create a niche positioning for your products elevating customers' trust.  

Top 8 reasons to build multi store online marketplace to nail cross border ecommerce

Why do you need a multi store online marketplace for your global enterprise business? 

Here is a detailed list of reasons why creating dedicated stores helps nail cross border business. 

Boost reach to a larger audience base with location-based stores  

As you plan to take your enterprise brand to global customers, you have to understand that each audience segment will have a unique requirement. And catering to different audience segments that come from various cultures from different parts of the world can be challenging. The best shot at nailing your cross border ecommerce business is to create multiple stores for audiences from various locations. You can reach a wider audience base as you create multiple location-based stores that are personalized to the target audience’s specific requirements. 

StoreHippo multi store ecommerce solutions come with comprehensive features to help you create multiple storefronts seamlessly. You can allocate different or similar products, deals, offers, discounts, etc on your global multi-store marketplace with a single database. StoreHippo’s central admin dashboard helps you manage all your business operations seamlessly. You can also create multiple mobile apps for all the location based marketplace stores right from your admin dashboard using StoreHippo’s built-in mobile apps builder.                  

Easy to scale and grow by adding new stores

It is easy to scale your enterprise brands as you go ahead with a multi-store setup. Wonder how? With a multi store ecommerce business model, you can easily scale to new geographies by creating various location-specific stores. You can seamlessly present various culturally relevant products and pricing for the selected location and engage with the target buyers in their native language. You can also track the buyer’s behaviour to offer them a personalized shopping experience and add new stores for a unique audience set. 

StoreHippo international marketplace website builder comes with various analytical tools to help you track your customer's buying habits. You can seamlessly send out personalized real-time notifications to offer personalized deals and discounts to your customers. You can grow and scale your business by launching multiple stores in different foreign languages and offering your customers ease of payment in their local currencies. StoreHippo comes with 100+ languages including the right-to-left language and 60+ domestic and international payment gateways for your global customers. 

Better buyer engagement through targeted stores

Offering undivided attention to global customers on your location based marketplace stores has become a must today. In a multi store model, you can simply offer different product categories to different audience segments. You can engage better with your customers as you create individual stores for different categories/locations. Wonder how? Well, since you are targeting one set of audiences on your location-based store, you can customize the shipping and the overall shopping experience that attracts bigger ticket sizes and boosts conversions.   

StoreHippo ecommerce solutions help you build and manage multiple global sub-stores using a common dashboard. You can perform various day-to-day business activities on your international marketplace website like product management, sales, and order management. You can seamlessly create multiple stores and assign similar or different products as needed to engage with the customers.    

Higher marketing ROI with targeted/localized marketing 

Often underestimated, the power of targeted marketing is enormous. Segmenting your audience based on various demographics like location helps with localized and personalized marketing. Enterprise brands like yours with multiple global sub-stores have unique audience sets with their unique needs, requirements, and buying habits. As you build multiple stores for your global customer base, you can plan for targeted marketing with a separate marketing strategy for all your sub-stores. This helps you achieve higher ROI on your cross border ecommerce marketplace.                          

With StoreHippo ecommerce solutions, you can use the right marketing mix to boost conversions on your marketplace. StoreHippo comes with a gamut of marketing tools like SMS, PUSH notifications, chat integrations, SEO tools etc to help you craft targeted marketing for your global customers. With the powerful built-in discount engine, you can implement multi level personalized discount deals for your customers on all your sub-stores. You can experiment with various product-catalouge mixes to promote your best-selling products in different stores. You can integrate your location based marketplace stores with third-party tools and software for live chat etc that helps you engage with your audience better. 

Streamlined inventory and order management

Well, a global enterprise marketplace is directly proportional to a vast and rich product catalouge. And with multiple products on your marketplace, it becomes challenging to manage the inventory, and track and streamline orders. However, building multiple sub-stores and directing an audience set to a particular sub-store can ease the entire process. You can offer seamless inventory and order management to your sellers and thus make buying and selling easy, boosting your conversions. 

StoreHippo multi store online marketplace builder helps you showcase store-specific catalogs to your target customer segments. You can seamlessly allot different products to your country-wise sub-store effortlessly by choosing and adding the products to the store inventory. The product management solutions from StoreHippo make it easy to manage a huge inventory. The efficient built-in order management system from StoreHippo gives great insights into businesses enabling the global brands to go for strategic planning for business growth and expansion. 

Maximize profit with differential pricing

With location based marketplace stores, it becomes seamless to leverage price override and maximize your profit margins. Wonder how? Well, you can study the global markets, check how the price elasticity impacts your profit margin, and then implement differential pricing on each of your global sub-stores. You can create multiple stores for different countries and implement the price override functionality based on the demand for the product in a particular location. 

StoreHippo multi store ecommerce solutions come with a price override feature where you can list similar or the same products at different prices depending on the location of each store of your cross border ecommerce marketplace. You can maximize your profit margins by offering custom prices to different customers based on their location. You can also define the prices based on other factors like order frequency, geolocation, etc. You can also facilitate multi-currency checkouts for better international conversions.

Abundant buyer data for strategic growth

Wonder what is the key to business growth? Well, it is access to a wide range of customer data and analytics. Yes, with the help of rich data-driven insights, you can plan strategic business growth. As you get data on your customer's shopping behavior, purchase history etc, you can implement the right marketing strategy to keep the customers hooked to your international marketplace website. And as you build multiple different stores for each location, you get abundant buyer data for the strategic growth of your global business. 

Multi store ecommerce solutions from StoreHippo come with a gamut of analytical tools to help you analyze your customer segmentation and make data-driven marketing plans for your business growth. StoreHippo is built on a decoupled headless API architecture, so you can seamlessly create various landing pages, and custom forms personalized to your unique requirements that help capture rich customer data. StoreHippo also comes with a built-in forms builder that you can place 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. 

Leverage hyperlocal commerce benefits

Customers expect their brands to offer quick and timely deliveries. However, maintaining quick deliveries on a global marketplace with a customer base from various countries can be challenging. As you build multiple local stores for each location, you can streamline hyperlocal deliveries, optimize the supply chain, and enhance customer satisfaction. You can create multiple local stores and onboard local vendors or local shipping partners in each country to streamline your supply chain and leverage hyperlocal ecommerce benefits on your cross border ecommerce marketplace.  

StoreHippo ecommerce solutions come with 30+ pre-integrated shipping partners. You can pick, choose, and integrate with more than one shipping solution to streamline a hassle-free quick delivery solution. You can also integrate with the shipping partner of your choice for all your sub-stores. You can also choose to use the built-in delivery boy management solution to manage your fleet of delivery boys. 

Conclusion 

Multi store online marketplace is an ideal choice for your global enterprise brand. It helps you thrive in the ecommerce landscape and fosters sustainable growth both locally and globally. You can adapt to the unique needs of your customers from different regions and maximize the overall business efficiency with location based marketplace stores for your global brand.   

However, you need a feature-rich multi store ecommerce solution like StoreHippo to help you roll out multiple location-based sub-stores for the global market. StoreHippo offers the most comprehensive features to cater to diverse business needs. You can leverage 300+ enterprise-grade features, 120+ built-in integrations, etc to ace the cross border ecommerce game. 

Are you ready to create a multi store international marketplace website for your enterprise business? Start your 14-day free trial now.