How Ethnic Wear Fashion Multi Vendor Marketplaces Are Making It Big During Festive Season?

The Big Billions Days sale! The Great Indian Festival sale! By this, you must be able to sense what I am talking about. Yes, it is festive season sales! 

And when it’s about online festive sales, we can’t resist talking about big online ethnic wear marketplaces. Like - Amazon, Flipkart, Myntra, etc.  

And these multi vendor marketplaces are breaking their own revenue record through strategic pricing, exciting discounts, and large scale marketing. Need some evidence? Watch out for the latest statistics accumulated by Forrester Research- 

• Flipkart saw a crazy number of app installs during the festive sales.
• Amazon and Flipkart, have cumulatively made $3.5 billion (Rs.26,000 crores) in the first four days of their 2020 festive sales.
• Ecommerce industry has grown by 25-30% during the festive season sale organized by the above two online retailers.

Does this motivate you to create your own online marketplace? Yeah! But before executing, we need to learn -

• How to attract fashion buyers to your online store? You will get strategies used by 5 online fashion websites.
• What do shoppers need to complete a purchase? What to expect? Get website design techniques used by top marketplaces to convert buyers.
• What features you need in the best marketplace builder while building your online store? What to expect? Must have features to look in an ecommerce website builder. 

Through the Top 5 fashion marketplace, I will walk you through all of the above pointers. Without much delay, let’s indulge in it. 

5 Fashion Multi Vendor Marketplaces In India that are crossing their own sales record

1. Myntra

An online marketplace with 15000+ fashion products and partnered with 1000+ vendors who are gaining profits by selling all over India.

4 Success Strategy of Myntra 

• Effective logistics solution that delivers 9,000+ pin codes
• For attracting customers, they offered discount codes, coupons, 30-day return offers, and free delivery
• Fast shopping experience on mobile by creating a mobile app
• Search feature and product categorization for easy shopping

2. Amazon

So far, Amazon is the most profitable online marketplace running in India. It offers everything from books, electronics, fashion to grocery, home decor, and more

6 Tactics used by Amazon to build an army of regular customers

• Frictionless online experiences and easy web navigation
• Satisfactory delivery accuracy like 1-day and same-day
• Unforgettable deals - Free shipping, cash on delivery, Amazon prime membership, rewards points using Amazon pay
• Mobile-friendly site and app to grow mobile sales
• Conversion-friendly product pages
• Facility to shop in regional languages i.e. Hindi, Telugu, etc

3. Flipkart

an Indian multi-vendor marketplace that delivers products to 4000+ cities from 5000+ vendors.

6 Simple Techniques Used To Earn Regular Customers

• Quick loading website that runs seamlessly on mobiles, desktops, and tablets
• High Converting friendly homepage with categorization, menu bars, sliders, and widgets
• Product ratings, FAQs, reviews, and vendor comparison on every product page. This boosted faster checkouts
• Offered huge discounts through campaigns like big billion days, Flipkart fashion sales, etc
• Flexible payment options - Cash on delivery and online payment.
• Exciting offers to attract repeat purchases- free delivery, early access during shopping festivals, exchange offers, Flipkart Plus membership.

4. Koovs

A multi vendor marketplace selling fashion products across 1500+ cities in India from 70+ global fashion brands.

4 tricks used by Koovs that boosted Customer Retention Rate

• 50-90% discounts on the website and promoting the same on social media channels. 
• Flexibility to pay either offline or online through multiple payment Channels.
• Mobile app to lessen cart abandonment, and boosts purchases among customers. 
• High converting website design with pop-ups and call to action buttons.

5. Ajio

An online shopping marketplace that has 100+ fashion vendors selling affordable and high-quality products to  15000+ pin codes in India.

6 strategies that skyrocketed Ajio’s revenue Growth

• Personalized shopping experience through push notifications, email notifications, web alerts, and product recommendations
• To boost purchases, Ajio used time-sensitive labels on their home page and product categories. Such as- limited hour deal, ends midnight, valid till XXth date, coupon expiring soon, first time discount on (brand name)
• Enhancing customer loyalty by providing discounts, credit card offers, bank offers, purchase points, 30 days return policy
• Advertisements on social media sites like Facebook, Instagram and YouTube. Social media sharing button on every product page
• Simple navigation and search bar features that increased the time spent by users on-site
• Upselling and cross-Selling based on customer purchase behavior

Build Your Fashion Marketplaces. Find out What exactly you need to create a successful store. I bet, you are feeling charged and optimistic to open your own marketplace. You are going great! The only thing left is choosing the best marketplace builder. 

6 features to check before buying multi vendor marketplace software

Let’s check out-

1. Integrated Shipping solutions

Deliver to your customer’s location through shipping solutions, that ensure discounted fast and satisfactory delivery. Moreover, it also gives you and your customers the ability to track deliveries.

2. Inbuilt Payment Gateways

Not having a widely used payment channel, which is popular among your customers? Alert! This is a roadblock to the customer purchase journey. Your website should have all the payment options i.e. mobile wallets, net banking, EMI, COD, credit/debit cards.

3. Multi-Vendor Support

You should be able to monitor the activity of the fashion vendors registered on your marketplace, directly from your dashboard. 

4. Dedicated Dashboard for each Vendor

Your vendors deserve the right to manage their listed products, orders, payments, and promotions. For this, they require a dashboard to get the things done. In return, your burden will reduce too.

5. Notifications Feature

Want to convert buyers with a personalized shopping experience? Let notifications do the job. They come in 4 forms- SMS, emails, web alerts(on desktop), and push(on the app). Make sure your best marketplace builder supports the feature.

6. Integrated Marketing tools

How will you attract new customers online? Through online marketing, discounts, and freebies (like free delivery, free samples). Always enquire about the presence of marketing tools, before finalizing a multi-vendor marketplace builder.

Final Takeaways

All set to create an online marketplace, like Amazon or Flipkart? Follow 5 bonus tips to churn out maximum returns.

1. Focus on fast-loading mobile-friendly websites.

2. Integrate popular payment channels and provide security seals to win customer trust.

3. Make your home page and product pages high converting, with time-sensitive deals, images, ratings, reviews, and call-to-action buttons.

4. Social media integration, marketing, and paid promotions are equally significant.

5. Easy checkouts, sign-ins, and site navigation for a fast shopping experience.

Excited to begin your journey of online selling? Choose the best marketplace builder and create a marketplace that attracts customers like a magnet. Sign up for a free14 days free trial.