There are 3 popular online multi-vendor marketplace business models: B2C, B2B, and C2C. Each of these models includes 3 major types of marketplaces: retail, service, and booking. You can now easily get your own website like Jumia and Jiji or others like Cousera and Booking.com
Enormous efforts are involved while considering logistics, product upgrades and additions, inventories, pricing, and various details to run an eCommerce store. However, owning a multi-vendor store would not create such chaos for the admin to manage everything. The multivendor store allows the necessary tasks to the respective vendors and manages each task seamlessly. Thus, creates a win-win situation for the business owners by automating and easing out manual tasks.
Multi-vendor marketplace solution creates a fewer cost for the store owner as every vendor would be managing his or her selling department and there is no such requirement of hiring extra people. Administration team could get involved in answering the queries related to marketing. Website maintenance related expenses can be reduced by engaging with an experienced development team.