Online marketplaces have gained significant popularity as consumers increasingly prefer to purchase a wide range of goods and services online. For businesses, creating a platform that showcases not only their own products but also those from numerous third-party suppliers can be a very appealing strategy.

Greater visibility, higher sales volumes – revenue increases of between 30 and 50 percent are not uncommon – and the opportunity to branch into new ranges and categories without risking large amounts of capital are just a few of the benefits that can accrue. So, what are the secrets to establishing an online marketplace that supercharges your sales in 2025? Here are a few marketplace tips for growth.

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1. Focus on the customer 

A marketplace that offers all things to all people already exists. It’s called Amazon. While imitating its strategy may make sense for some businesses, playing to your strengths is more likely to be a strategy that works for your business. It’s essential to focus on what sets you apart and deliver the best customer experience. This focus on customer experience is crucial, as 73% of consumers say it directly impacts their purchasing decisions.

You’ll do well to start by focusing on your target audience;: identifying their needs and wants and the additional products they really want to buy from you. 

For Woolworths, it’s things like small appliances, pet supplies, and baby goods rather than car tires, say, or fast fashion.

2. Vet your suppliers 

While it’s easy to connect with many suppliers, it’s important to ensure they are worthy of working with you before you start importing their products.

So do your due diligence: 

  1. Check out their online reviews.
  2. Place some mystery shopper orders and see how quickly they arrive, 
  3. Examine the product and determine if it meets your quality requirements and brand alignment.
  4. Check if they are able to handle bulk orders.
  5. Check their compliance and legal requirements such as business licenses and exports.

Yes, it can be costly and time-consuming, but so is repairing the damage to your brand if you partner with a seller whose idea of service and customer experience is at odds with yours.

3. Build a stellar team

A smoothly functioning marketplace doesn’t create itself. Teamwork is required to get one up and running and ideally, the team that does the work will be comprised of experts with a range of backgrounds and skills. People with the chops to oversee systems integration and iron out the high-tech hiccups are an obvious choice. However, it’s crucial to get people with deep knowledge of your existing operations and business model.

4. Take control of customer service

Yes, the goods are being shipped by third parties, but it’s your brand on the site – and your good name is at stake if customers aren’t satisfied with what they receive. That’s why you need to set your own policies around things like warranties and returns and take charge of customer service when things go wrong. 

It’s an approach that’s working well for Woolworths. They’ve made a sizeable investment in a program and a team that triages issues and complaints and funnels them back to suppliers for action, thereby preventing the need for customers to endure the aggravation of being bounced between businesses.

5. Make seller success a priority too

Keeping the customer satisfied should be a high priority but not necessarily your only one. Seller success is just as important. Sending new suppliers away with connector software and expecting them to just get on with it is a recipe for problems. Invest in onboarding and supporting them, and you’ll turn them into trusted partners.

Remember, your sellers are an integral part of your team, and their success directly impacts your collective ability to make every marketplace sale count.

6. Hasten slowly

Don’t walk before you can run. It’s an old adage but when you’re talking about online marketplaces, it makes as much sense as it ever did. Taking on 100 or more suppliers off the bat and hoping for the best is asking for trouble. The businesses we’ve seen do it best have taken the opposite approach. They started with a Minimum Viable Platform (MVP) with a few sellers and ironed out the wrinkles before scaling up. 

7. Learn from the mistakes of others

Marketplaces don’t represent uncharted territory. Plenty of big players have grappled with the challenges of setting them up and there’s no need for you to repeat their mistakes. Do your research and team up with an implementation partner that has runs on the board and you’ll stand a good chance of getting your marketplace off the ground with minimal dramas. 

8. Going for growth

According to a 2024 survey conducted by Statista, online marketplaces account for nearly 30 percent of global online shopping orders. 

In a separate report, they forecasted that the revenue in the e-commerce Market is projected to reach US $4.8 trillion in 2025. Driven by shoppers’ desire for convenience and brands’ pursuit of global reach, online marketplaces are poised for continued growth in 2025. 

As online marketplaces continue to grow, 2025 is the perfect time to take the leap and establish your presence in this dynamic space. With Marketplacer and the right strategy, your marketplace can become a powerful engine for revenue growth, customer engagement, and brand expansion.

Contact us and transform your business into a thriving marketplace with Marketplacer.