In the Covid-19 global pandemic, people have gone through various tricky circumstances. Where due to the lockdown no sources were available for ordering daily essential groceries. The online business understood the need for Hyperlocal Businesses.
Not only the hyperlocal eCommerce businesses assisted the people during the covid time. But also, helped the customers a lot in the fulfillment of their daily product needs. Even since the covid pandemic, hyperlocal online marketplaces are becoming the modern way of online purchases. On the other hand, various offline groceries stores and other business are listing their hyperlocal businesses online. In the following article, we are going to have a few words about the reasons behind the success of Hyperlocal Marketplaces.
But, before starting with the reasons, let’s discuss what are hyperlocal marketplaces and what are the workflow of eCommerce Hyperlocal Marketplaces.
What are Hyperlocal Marketplaces?
After hearing about the marketplace, the first thought that pop-ups the mind is an online platform where multiple sellers are selling their products. For example, we can consider eBay, Amazon, and Flipkart as these platforms allow the seller to list their products and sell the same to worldwide customers.
The hyperlocal marketplace is also a kind of marketplace but the only difference between the marketplace and a hyperlocal marketplace is that the hyperlocal marketplace provides services to only a small geographical area.
Moreover, like the marketplaces, on a hyperlocal marketplace, various online sellers can list their shops and sell their products. In the end, the entire process will be managed by the store admin. Also, in exchange for letting the sellers sell, the hyperlocal marketplace admins earn a fine amount of the commission from the sellers. You can also check out Knowband PrestaShop Hyperlocal Marketplace Addon for more information.
Why Hyperlocal Marketplace Businesses are Trending?
There are various reasons behind the success of hyperlocal online marketplaces. For example, marketplaces offer quick delivery services as well as best price guarantees to the sellers.
Hyperlocal Marketplaces Allow Customers to Order from Multiple Sellers:
One of the major reasons that attract customers to hyperlocal marketplaces is that they get options to order from multiple sellers. In case the customer is not able to find his desired product on a seller’s listings, they can hover over to the next one. On top of that, they will be having options for choosing from multiple sellers.
Thus, unlike offline marketplaces, hyperlocal marketplaces provide options to compare offers from a wide variety of numbers.
Quick Order System:
In online shopping, online orders take 2-3 days to arrive. On the other hand, hyperlocal online shops win the game by a huge margin. For example, if you are ordering from an online food shop, it will hardly take 20 to 30 minutes for the orders to reach your doorstep.
Thus, the quick order system is another reason behind the success of hyperlocal marketplaces that attracted customers to the platforms.
Excellent Customer Support System:
Having an excellent support system is what helps any business find customer loyalty. Thus, following the same approach hyperlocal marketplaces achieved customer loyalty as well as brand reach. Although, these marketplaces cover only a specified zone or region. Yet, if you perfectly put every ounce, the chances for getting the most out of the marketplace.
What kind of businesses can use Hyperlocal Marketplaces for Business?
Food-Based Businesses:
If you are an offline seller and looking for starting your online business, hyperlocal marketplaces could be the perfect idea for you. Not only you can register your shop online but also, you can earn a fine amount as a commission by letting third-party sellers register their products. For example, if you are interested in starting your hyperlocal marketplace. You can also check the Knowband PrestaShop Hyperlocal Marketplace module.
The module comes with a single-time payment option. So, feel free to pay for using the module on a monthly/yearly basis.
Grocery Businesses:
Like the food-based business, the other business category that is specially made for hyperlocal marketplaces is Grocery businesses. This is the kind of business that works effectively in a limited geographical zone. Thus, the second option for starting an online hyperlocal marketplace with grocery-based online businesses.
Pharmaceutical Businesses:
The pharmacy sector always had a wide scope in the online business sector. Not only you can find various online businesses selling medicines and other services online. Thus, in case you are looking for a pharmaceutical business based on Hyperlocal marketplaces, the idea is sounding.
Moreover, there are a wide number of options to go with for starting a hyperlocal marketplace. Thus, if you are not familiar with coding skills and planning to start one. You can always check out Knowband’s Hyperlocal marketplace made for PrestaShop sellers.
