Recently, startups almost are crazy about marketplace. Some others, in contrast, want to manufacture them and sell directly to consumers and businesses. I will not tell what is better but let’s refer to this article first. I will focus on the benefits of business owners who use handmade WordPress theme, not all participants of this model
- No inventory
Marketplace is ultimate business model that helps you say goodbye to fickle mistress named inventory, that’s the defining upside for any business owners. Inventory, sometimes, makes owners face the dilemma of choosing between two choices: if too much, It means that your shelves will be full with items that might be untouched during its life cycle cause the supply will exceed the demand. If too little, customers might think the products and services are not diversified enough to satisfy their demands and as the result, they leave without saying any words.
In fact, when we mention marketplace, you might think it is so big and needs a huge amount of inventory but that’s not true. Marketplace is where the operator connects goods or services to those who want to pay for those goods and services.
When building marketplace with Handmade WordPress theme, you can say no to inventory, no inventory means saving on the cost of facilities to store inventory and an operations department to process it. It sounds not easy but at least you don’t have to worry about all your capital sitting around in boxes.
- Free advocacy
What I want to mention here is user base. Unlike other web stores, the user base of marketplace includes both sellers and buyers, not just buyers. You’ll need to shape your business to offer a quality service to both parties, which is a delicate balancing act. If you can, the sweet cake of benefits will be for you.
Besides inventory, another expensive disadvantage of a traditional reseller model is the cost of marketing. You will need to go to various channels and inform the customer and convince them to come to your store rather than another. However, everything will go differently with Marketplace Handmade WordPress theme. If you choose reputation sellers, each of them will have their own customers set and different marketing strategies. Assuming everyone involved has a positive experience, both parties will have a reason to spread the word. While goodwill and excitement will turn many users into advocates, nothing works better than a clear financial incentive.
- Exponential growth
As you know, the development of living standard and growth of population all over the world lead to the exponential growth of demand. As the result, the only way to respond to rapid growth is to either match it with an exponentially growing workforce or to continuously overhaul manufacturing processes to increase efficiency. And finally, operational costs will increase. But in the world of marketplace, in this case, marketplace Handmade WordPress theme, people love it due to the rapid growth and it facilitates a transaction rather than actually taking part in it. Marketplace connect buyers and sellers and just needs staffs necessary to maintain the platform at increasing levels of use.