Why Marketplace is Important These Days?

Being a Magento 2 store owner, you always want to improve your store functionality to serve your customer better. And many times you have added third-party integrations from Magento or Magento 2 store to achieve this.

But this time you need to choose something different that not only provide better customer service but take your eCommerce business to the next level. Converting your eCommerce store into a marketplace will not only provide a huge option to your customer but also grow your business.

But before making a move the store owner must know the opportunities and available possibilities.

The concept of the marketplace has spread a buzz in the eCommerce industry. We all have witnessed the growth and success opportunity, the marketplace has bought in the eCommerce world in the past few years.
Many store owners are already lured and converted their Magento 2 eCommerce website into a Magento 2 marketplace.

With Magento 2 marketplace you can allow different vendors to sell their products on your website. Magento 2 marketplace is also called Magento 2 multi-vendor marketplace because many merchants can sell their products on a single platform like Amazon.

Let's summarize some of the potential benefits of the Magento 2 marketplace:

1. Being a marketplace owner, you need not to worry about the inventory.
2. After marketplace setup, the owner can enjoy the benefits of commission on every sale.
3. Marketplace provide greater transparency. 
4. It provides a greater trust level in buyers.
5. The buyer gets a convenient way to compare prices and buy products at their best prices. 
6. Marketplace provide a great opportunity for small vendors to showcase their products to a wider audience.

The marketplace brings new customers that enhances conversion rate. It has many other benefits in terms of cost cuts, customer satisfaction and commission from the sellers.

There is no doubt that the marketplace improves performance, conversation rate and business revenue.