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Niront Marketplace, Cambodia multi-seller online marketplace technology platform

Online Marketplace Technology

Online Marketplace Technology - NIRONT Marketplace

Whether you’re looking to expand your business digitally or start a new business online, you will need to understand online marketplace technology. Selling online allows, whether through your website or an online marketplace, allows your business to capture more revenue online — and with online marketplace tools, you can increase your earnings even more.

What is an online marketplace?

An online marketplace is a website where multiple vendors can sell their products. For some marketplaces, you’ll need approval to add your products to the site. On others, almost anyone can create an account and start selling as long as they meet a few basic requirements.

Online marketplace technology trends

Online marketplaces center around technology and make it a key part of the shopping experience. Some of the top trends in online marketplace technology include:

  • Mobile devices: Mobile is now a substantial part of shopping online, with mobile ecommerce bringing in over 70% of ecommerce sales in 2023.
  • Personalization: Online marketplaces show shoppers personalized recommendations and ads based on their past shopping history, demographic characteristics, and other factors.
  • Advertising automation: Sellers can integrate automation into their online advertising campaigns to drive more sales through marketplaces.
  • Detailed reporting: Sellers can automatically track the details of their online marketplace performance and even get artificial intelligence-powered recommendations for improving their digital marketing.

Now, keep reading to learn about the best online marketplace tech!

Online marketplace tools: Accounting

Unless you’ve taken an accounting course, this part of your business may seem hard to manage. With these software programs, however, the accounting process can be simplified.

QuickBooks Desktop or QuickBooks Online 

As an easy accounting solution, QuickBooks is a valuable tool for the online marketplace.

This software allows you to accept payments, track your income and expenses, run reports, minimize tax liability, and pay employees on time. QuickBooks also integrates well with other online marketplace tools.

Online marketplace tools: Analytics

Website analytics can prove to be the key when unlocking your online strategy. These tools can help you discover data patterns and help you to increase your online sales.

Google Analytics 

Google Analytics holds the key to understanding your website’s traffic. With this tool, you can see your conversions, sessions, who is coming back to your site, and so much more. If you’re ever wondering more about your website data — check Google Analytics.

 

Ready to increase revenue for your business? Contact us online or call us today at 017 993 308 to speak with a strategist one-on-one about our Marketplace Marketing Service.

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