Multi-Vendor e-Commerce platforms are titans in the world of online retail. Mega companies like Amazon, Etsy, Alibaba, and eBay govern how we shop in a modern world, boasting blockbuster successes and record sales. Even physical brick and mortar stores can’t help but feel in awe of their looming presence in the world economy. While each of these companies can hold their own in the Multi-vendor marketplace, few can attest to running a business-to-business (b2b) trading platform that connects exporters to companies on the level that Alibaba does.
Working with companies spanning 190+ countries, Alibaba allows for anyone, regardless of location, to buy goods and have them shipped directly to their location. With 20 years of experience, they have since teamed with Samsung to power their own mobile payment facility — Alipay. Allowing them to further reach more than 1 billion internet shoppers across the globe. As digital shopping continues to trend upward, the pull of a website like Alibaba is more luring than ever. Is it possible to build a website like Alibaba? Yes, and it’s easier than you think.
Start With A Revenue Model
Before you can hit the ground running you need to understand Alibaba’s business model. There’s is quite comprehensive, focusing on four key elements:
- Advertising revenue: Like most competitors in the eCommerce space, Alibaba earns revenue from advertising. Building a lucrative platform means brands want to utilize ad space on your page to make an impression in customer minds without endless amounts of effort. Consider building a bit of revenue through advertising.
- Nix the listing fees: Unlike eBay or Etsy, Alibaba does not collect listing fees from its sellers. It does collect fees for extensive product listings and premium sales boost features.
- No physical warehouse: Skip any upfront costs and forget a physical warehouse. Focus instead on an all software format. Alibaba does not own inventory, instead, it acts as an intermediary that connects sellers to customers. Each transaction takes place with the aid of eCommerce software that facilitates a buy/sell exchange.
- Low Volume Transactions: Alibaba boasts operating revenues that are a fraction of Amazon, yet still maintains lucrative profit margins.
Know Your Scripts
Still, wondering how to create a website like Alibaba? The secret is in the script. It doesn’t take a rocket scientist to take on a project like building a multi-vendor eCommerce website like Alibaba, eBay or Amazon. All you need is a good clone script from an eCommerce website template. A clone script of Alibaba is a software website design that performs in exactly the same manner as a proven business model or similar website. In this case, an Alibaba clone script would work the same as the website itself. Another option is a Multi-Vendor script from Apptha.
Apptha’s Magento store script is a great clone script for creating a website like Alibaba. It offers everything you need to build an eCommerce multi-vendor website and is equipped with features that make it a finely tuned functioning online store, including a seller dashboard, vendor-specific URLs, flexible commission calculations, social logins, and one step checkouts. Now all you need is a solid brand name and to utilize proven multi-vendor revenue streams.
It isn’t impossible to build a multi-vendor website like Alibaba or Amazon. All you need to do is look for the opportunities and utilize marketplace scripts such as Apptha to build your own store and start raking in the dough!