Marketplace software, also called multivendor marketplaces, enable users to create and manage digital storefronts that host product and services listings from multiple vendors. These tools simplify and streamline the entire process of creating, hosting, and managing an online marketplace, from website design to vendor communication to shipping.
Marketplace software are very similar to e-commerce platforms in that they facilitate the building and management of digital storefronts; however, e-commerce platforms are intended for a singular vendor, while multivendor e-commerce platforms function as a digital marketplace. Many products are offered as a standalone platform, but others are exclusively, or can be offered, as a plugin for another web content management system.
To qualify for inclusion in the Marketplace category, a product must:
Create and host an e-commerce website capable of supporting multiple vendors
Provide payment tools via integrations or natively within the platform
Allow vendors to create new listings for products or services
Offer security and/or encryption of data and information, as well as follow e-commerce regulation
Provide communication channels between vendors and customers