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There used to be a time when people used to visit brick and mortar shops to buy gifts for the close ones. However, with the advent of the e-commerce trend, today people love to shop online on e-commerce marketplaces via a smartphone, tablet, laptop, or desktop. Of all the e-commerce marketplaces you see today, niche marketplaces for gifts are something to handle with care and that is where you need the help of a Magento web development company on board to have it built for you.
A complete marketplace like Amazon specializes in selling just about everything and henceforth it is no big deal to sought after customers since you have everything for everyone. But when it comes to niche market places for gifts, there is a relatively micro-segment of interested people, especially with a brand identity missing. If you aren’t good at building such marketplaces, need not to worry as you simply need the backing of stellar magento ecommerce development services to do the job.
With an accomplished magento web development company in place, you would have a complete understanding of the scenario surrounding online gift marketplace globally. This is why we have chosen this topic as the subject of discussion to give you an extensive comprehension of what you should be doing if you plan to start an online gift store. Let us walk through the business model to be followed, sources of revenue to tap and functionalities to incorporate.
The business model behind
It’s pretty straightforward! Just like any ecommerce marketplace developed by magento ecommerce development services vendors have specific niche gifts showcased on the e-commerce platform, and then buyers visit the online store to make a choice and eventually buy. Ideally, there are two types of users in this, one is the vendor who registers as a seller, while another is the customer who registers as a buyer.
What users do?
- Come to the market place and get registered as a buyer.
- Choose the category and the product.
- Add personal details, billing address and payment details.
- Pay for the product and wait for the order to be delivered.
What vendors do?
- Come and register on the market place as a seller.
- Have the products listed for sale.
- Mention product details and specifications under a category.
- Go for the order processing after receiving payment.
Revenue stream to follow
Get commissions on the sale of each and every product. Place ads across product categories and product pages by signing up with online ad market places or advertisers. Allow vendors to have sponsored listings of their products for getting listed on top of the page at a price.
Offer membership as a loyalty program
There are multiple festivities and occasions throughout the year when a customer needs to purchase gifts. Offer them a monthly or yearly membership where they would receive exclusive coupon codes, discounts, or offers during such time. Additionally, with the membership in place, customers can expect rapid delivery over others without any delay being the preferred priority customers.
Key features that are a must
For any e-commerce marketplace, it is important to have sorting and filters in place. Sorting helps in arranging products as per a definite order with regards to name, pricing, relevance, or more while filters help to search an including specific criterion such as brand, specifications, size, and more. In addition, a search bar needs to be such that all the results are displayed based on the keyword search.
Informative blog to share valuable insights
A blog with a good number of informative articles presenting content of great value to the readers helps to showcase authority over industry and topic. Most people do visit a blog for seeking out information but eventually, convert to paid customers after seeing the command of a business towards industry knowledge with in-depth information. Hence, starting a blog right off the bat is a truly wise idea if you want to make people aware of your store.
Have multiple communication channels at all times
You should be always available to chat with users online whether it be a live chat, an automated bot, email communication, and audio/video call. It’s such a facility within your e-commerce store wherein customers can connect with you at any given point of time irrespective of time zones. Let the queries be answered and have them resolved as soon as possible.
Offer varied options of shipping and delivery
There are times when gifts need to be delivered at a specific date and time. Try to incorporate the shipping options such that you can have them deliver on time. This will let you gain trust and confidence of the customers, keeping them satisfied all day long.
Let testimonials speak through ratings and reviews
Whenever new prospects visit your e-commerce store, it is hard for them to entrust you as a genuine and reliable online store. It is at this place where you need to have a good amount of testimonials speaking about you may be good or bad. This can be achieved via ratings and reviews for not just products listed on your website but even your e-commerce store on the whole.
Add a sense of personal touch always work wonders
At times you need to personalize your products for individuals or corporates. They are special customers needing special attention as they are ready to pay for customized gifts with tailor-made requests addressed. Henceforth, do have a section wherein such customers can request for such gifts catered as per specific demands.
Social sharing should be everywhere possible
That’s right. Today it is all about getting social online with social networking sites being the most visited websites for users whether be Facebook, Instagram, Twitter, LinkedIn, Pinterest, and a few more. With social sharing buttons in place on each and every product page, not just people would like to share them with their friends on the network, but even gain word of mouth awareness.
Store should facilitate multi-currency multi-lingual approach
People coming to your online store do not belong to a specific region but from all parts of the world. Hence your e-commerce store should be able to facilitate everyone to choose their currency and language. This way you help reach out to the optimum number of customers.
Without a return policy, your store can’t progress
Remember, the customer is always right. You need to have a return policy to win the trust and confidence of end-users while they are making a purchase. Of course, as a magento web development company we suggest, there has to be terms and conditions such that there is a win-win situation for both.
Think about yourself and your customers both
It is always about the comfort of the customers and that is what you should always be thinking of when starting to build an online e-commerce store specializing in gifts with the help of magento ecommerce development services. Try to address the pain points of the customers with regards to gifting items and that will give you a lot of scopes to build a seamless store. At the same time, it is crucial to go through what we have discussed about so that you have a systematic gift store building process in place without leaving any stone unturned.
By Rahim Makhani
who is CEO and managing partner at Nevina Infotech which is Enterprise Mobile App & Web Application Development Company, helping global businesses to grow by magento web development services.
Member since November, 2020
View all the articles of Rahim Makhani.
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