VTEX Marketplace is a system that allows entrepreneurs like you to create and manage online marketplaces . Furthermore, it enables you to act as a seller within other entrepreneurs' online marketplaces . VTEX Marketplace is a native system of the VTEX platform. In this post, you will learn about the advantages of this system and get tips for successful VTEX Marketplace integration.
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WHAT IS MARKETPLACE?
First of all, for those who don't already know, a marketplace can be defined as a virtual shopping center within which multiple stores and brands operate. The companies that operate these stores are called sellers.
Sellers , in short, market products within the same website, that is, the marketplace , to the end consumer or to other companies, paying commissions to the marketplace owner.
Within a marketplace , consumers can shop at multiple stores and make a single payment, thanks to a technology called payment splitting , which distributes the money from a purchase among the sellers , the marketplace owner , the payment gateway , and the shipping companies, among other companies and institutions that may be involved in the transaction.
In this context, VTEX Marketplace can be useful for entrepreneurs like you in several ways. Keep reading and find out!
1 – WHAT IS POSSIBLE TO DO WITH VTEX MARKETPLACE?
With the VTEX Marketplace , it's possible to operate in the market in three ways:
1 – As a marketplace : you manage an online shopping mall with multiple sellers . In this case, you act as a marketplace in ;
2 – As a seller : you integrate your store with one or more marketplaces that are already active in the market. In this option, you act as a marketplace outside ;
3 – Both : You can act as a seller in third-party online marketplaces and, at the same time, maintain your own marketplace.
Regardless, there are many advantages. However, to obtain these advantages, proper planning, implementation, and business management are essential. Get some tips for this below and learn about performance data for VTEX marketplaces . Keep reading!
2 – VTEX MARKETPLACE: HAVE YOUR OWN SHOPPING VIRTUAL!
Through the VTEX platform , you can use the VTEX Marketplace solution to create and manage your own online shopping mall . In other words, it's possible to transform your online operation into an online marketplace . By doing so, you can enjoy several benefits such as:
- Architecture multi-seller native that allows the consumer to make purchases in several selling using the same virtual cart;
- Integration and automatic synchronization of stocks and catalogs;
- Open APIs that make it easy to integrate new selling;
- Total management, ranging from promotions to orders;
- More than 2.500 stores in 28 countries that can become yours selling;
- Multi-currency and language setup to facilitate cross-border trade;
- Automatic mapping of categories, which provides faster management processes;
- Suggestion panel for approval or rejection of large-scale products.
Furthermore, with the VTEX structure, it's possible to build B2C, B2B marketplaces , and even marketplaces with physical stores.
3 – BE ONE SELLER INSIDE LARGE MARKETPLACES
In addition to developing your own marketplace , with the VTEX framework you can become a seller within various third-party marketplaces . That is, you can also act as an external marketplace.
In this way, by using the VTEX marketplace solution , it is possible to:
- Easily integrate into marketplaces like Walmart and Mercado Livre, for example;
- integrate with the Google Shopping via VTEX's native app;
- View all sales in real time marketplaces;
- Manage all orders from all your sales channels in a single system;
- Work with an integrated logistics;
- Work with a custom order flow.
Indeed, by acting as a seller , you can leverage the traffic from major marketplaces to increase sales. This will allow you to expand the reach of your online store.
4 – PLANNING TO CREATE MARKETPLACE OR BECOME ONE SELLER USING VTEX MARKETPLACE
To create a virtual shopping mall or act as a seller using VTEX Marketplace technology, you must first develop a plan. That is, before setting up the business, develop the entrepreneurial aspect. Remember that, according to Sebrae (Brazilian Micro and Small Business Support Service), well-planned businesses survive much longer.
If you are therefore in the entrepreneurial phase of your online business , whether it's an online store, an in-store marketplace , or an out-store marketplace , I have two planning methods to recommend. Check them out below:
Business Plan for e-commerce
In this method, everything is planned first through an extensive document and only then everything is applied in practice. Depending on the complexity of the business, this type of planning can take anywhere from six months to over a year to complete.
Therefore, before using VTEX technology to create a marketplace , you should create an executive summary for your company. In addition, you should create a Marketing Plan , a market analysis, an Operational Plan, and a Financial Plan. All of this is part of an e-commerce Business Plan.
Startup E-commerce
This is a method that can be defined as “learning by doing and making mistakes”. It encompasses the realization of controlled micro experiments, which generate minimal losses and maximum learning. In other words, the faster errors occur, the faster the entrepreneur discovers the most suitable path to follow.
In the startup method , theory and practice intertwine. Therefore, there's no need to wait months to start the project. You launch a minimum viable version of your marketplace to a small audience and conduct tests that will help you refine it. When optimized enough, you expand your marketplace 's audience and conduct further tests, and so on, until you reach increasingly larger markets.
So, choose your method and start planning your marketplace with VTEX technology right now!
5 - IMPLEMENTATION: INTEGRATION MARKETPLACE VTEX
Whether you've chosen the Startup method or the Business Plan, there comes a time when you need to implement the marketplace . One way to do this is through your own team. That is, you hire professionals in the sector who develop a marketplace or an online store if you want to be a seller , or both.
The problem is that teams are expensive. In fact, they require salaries, payroll taxes, hardware , software , departmental structure and maintenance, among other costs.
Solution
So, perhaps you'd like to try another option for deploying your business. In this case, it's possible to hire an e-commerce agency specializing in VTEX Marketplace . The e-Plus Agency , for example, has been VTEX certified since 2015. Furthermore, it is globally recognized by the VTEX Quadrant as an agency with a high capacity for executing e-commerce projects and advanced technical knowledge. It has already produced VTEX marketplaces for companies such as Gourmenu.pt and Futebol CardShop , for example, in countries like Portugal, Brazil, Spain, Argentina, and Chile, among others.
More about e-Plus Agency
e-Plus Agency can develop your online store and integrate it with the best marketplaces on the market. Or, if you prefer, the e-Plus Agency team can create your marketplace using VTEX technology. For this, you will only need to pay the VTEX platform costs and the agency's fees. To learn more, click the button below and start a conversation with us via messaging app right now:
6 – VTEX MARKETPLACE NETWORK: EASIER INTEGRATION
The VTEX Marketplace Network is a feature that simplifies VTEX Marketplace integration . Through this functionality, it's possible to connect marketplaces and sellers within the VTEX ecosystem more quickly and with less investment. This can increase traffic and revenue for these marketplaces, generating better results for your company.
Native to all VTEX stores, the Marketplace Network functions as a virtual environment where sellers and marketplaces worldwide can connect and easily form partnerships. This allows them to expand their sales channels, increase revenue streams, broaden their product portfolios, and generate more sales in multiple regions, among other benefits. It's worthwhile using this feature for integration.
7 - VTEX PERFORMANCE MARKETPLACE
Medium and large companies from various countries are already successfully using VTEX's marketplace solution . Below are some case studies for your information:
Mazda Motor Europe
In 2021, the VTEX blog announced that Mazda Motor Europe will implement marketplaces using VTEX technology in the 22 European countries where it operates. This will allow approximately 1.600 local dealerships to sell vehicles online . The rollout will be phased. The project will generate commissions and increased profits for the company, among other benefits.
Flamengo store
Loja do Flamengo , a VTEX client since 2017, integrated its inventory into the Mercado Livre marketplace in May 2021. As a result, the brand achieved fourth place in sales in its first month of operation on the online shopping platform.
PicPay Store
PicPay Store implemented a marketplace within its app using VTEX technology. The project took only 5 months to complete. In 2021, driven by the marketplace , PicPay doubled in size in terms of transactions and Total Payment Volume (TPV).
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In 2020, Bisco launched a B2B marketplace using VTEX's solution. In the process, the company revamped its catalog and achieved 50% higher conversion rates compared to its previous platform. Furthermore, by using VTEX's component technology, Bisco expects to reduce expenses by 90%.
As you can see, the VTEX Marketplace solution provides excellent results both for those who want to operate as a marketplace and for those who prefer to be just a seller in third-party virtual shopping malls . In both options, digital entrepreneurs like you have everything to gain.
8 – PRECAUTIONS WHEN WORKING WITH MARKETPLACE
Remember, to work as a marketplace you will need a team focused on convincing merchants to become your sellers.
Even if you already have a physical marketplace or have migrated your online marketplace to the VTEX platform, a team is needed to help you increase the number of sellers.
Certainly, this team must know how to present the advantages of their marketplace effectively and negotiate with merchants. Furthermore, it will be necessary to generate traffic to the marketplace . In fact, this is one of the main factors that leads a merchant to become a seller . Sellers can benefit from this traffic for free.
So, to generate that traffic, you'll have to invest heavily in sponsored links , social media ads, content marketing , email marketing , and other digital marketing strategies.
Monitor results
Finally, it is necessary to monitor KPIs, make optimizations, manage sellers and the financial management of the business, among other activities.
On the other hand, as a seller , you should choose the marketplaces with the greatest potential return for your online store. So, experiment. Integrate with marketplaces seasonally. If everything goes well, continue!
9 – HOW TO LEARN MORE ABOUT SELLER E MARKETPLACE?
Before embarking on the entrepreneurial phase, learn a little more about sellers and marketplaces . To do so, read books and blogs such as the one from Agência e-Plus, for example.
If possible, talk to owners of online stores who are sellers and also to owners of marketplaces . This way you can learn more about the reality and difficulties of these two models.
Furthermore, you know you can always count on us. Click the button below and get your questions about marketplaces and sellers answered by the e-Plus Agency team right now via WhatsApp:
