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What are the Tech Requirements for Launching an E-commerce Marketplace?

If you’ve been considering launching an online marketplace for your e-commerce business, one of the many questions you may have on your list is what technology and software are required to make your marketplace function.

The answer depends entirely on the complexity of your marketplace, including factors such as the number of product SKUs, the number of channels you have, and what your goals are for growth and expansion.

Tech Requirements for Launching Your Marketplace

There are four major pieces of technology required in a marketplace architecture. The first is a website. Whether it is your existing e-commerce website or a brand new one, customers need a digital spot to visit and shop.

The website will need to be connected to an e-commerce platform. An e-commerce platform is a software that allows online businesses to manage their virtually listed products and services, enable omnichannel marketing, and facilitate sales operations.

Next you’ll need payment processing software. The one you choose will depend on the type of payment methods you’d like to offer your customer. Many e-commerce platforms have their own payment processors built into them, but are also compatible with the majority of other options out there. This software will facilitate the customer’s purchase from beginning to end.

Finally, you will need a marketplace platform. The marketplace platform is where your new sellers will go to create products, add offer details to them, set up shipping rates, and accept orders from your website. It is the software that enables their presence on your site, and that gives you the technological capability of creating and setting rules for your marketplace program.

Useful Tech Add-Ons

While a website, e-commerce platform, payment processing software, and a marketplace platform are the only four requirements for a marketplace to function, there are some software options that can grant you flexibility, make your system easier to use, and better support your business. If your marketplace has many channels, a high number of SKUs, and complex business logic, these may be particularly useful.

A Product Information Management System (PIM), allows the owner of the marketplace to set extensive business logic to

product data to make it clean, uniform, and up to company standard. It also performs deduplication processes which ensures only one set of the same product data makes it onto the marketplace.

A complex marketplace may also benefit from Enterprise Resource Planning software (ERP). An ERP is great for advanced functions such as accounting, reporting, customer relationship management, credit management, and advanced business logic functionality.

While a website, e-commerce platform, payment processing software, and a marketplace platform are the only four requirements for a marketplace to function, there are some software options that can grant you flexibility, make your system easier to use, and better support your business. If your marketplace has many channels, a high number of SKUs, and complex business logic, these may be particularly useful.

A Product Information Management System (PIM), allows the owner of the marketplace to set extensive business logic to product data to make it clean, uniform, and up to company standard. It also performs deduplication processes which ensures only one set of the same product data makes it onto the marketplace.

A complex marketplace may also benefit from Enterprise Resource Planning software (ERP). An ERP is great for advanced functions such as accounting, reporting, customer relationship management, credit management, and advanced business logic functionality.

Have more questions? Get in touch with a MarketPush expert to see a marketplace in action or discuss how to help your company embrace the future of e-commerce. Email us at sales@marketpush.com.