When transforming an online store into a marketplace, you need to understand that many processes will have to be changed. Including the technical platform. At the same time, the marketplace will not bring quick income: for the project to become successful, it will take considerable effort and struggle with the existing e-commerce giants.
One of the reasons for failure is the unpreparedness of the business to scale. Even if the company has experience in online trading, the creation of a marketplace will be a serious test of strength: it will be necessary to revise the operational processes and take responsibility for the merchants who have joined the platform.
The transformation of an online store into a marketplace is possible if the business has:
- motivation to change the sales system and there is no fear of responsibility for merchants,
- the basis for the active development in a highly competitive market captured by major players,
- a team that will take care of the development of the marketplace and its continual maintenance,
- funds for development, payment for the operational part (office support, staff), and marketing promotion,
- a marketing strategy aimed at increasing the awareness of the startup on the network and attracting traffic.