DOVER, Del., Oct. 30, 2022 /PRNewswire/ — Online shoppers love marketplaces because of buying convenience, vast product selection, frequent new arrivals, and cross-brand promotions. Marketplaces are the most successful eCommerce businesses out there, and all of the most popular shopping categories are run by women. Yet, women marketplace founders have to face a lot of headwinds. Our goal at Vendo is to unlock the marketplace business opportunities for women founders. And here’s how to go about it.
# The ugly truth is that women founders have to try harder and take rejection more often than their male counterparts.
It is a well-researched, reported, and widely recognized fact that there is a gender gap when it comes to raising VC money. Especially in the multi-vendor marketplace space, which used to be quite complex and demanding.
# Vendo changes that by empowering women marketplace founders the most.
Vendo offers women founders a $5,000 credit for customer success services leading to the marketplace go-live.
This $5,000-worth support package usually involves a series of goal-oriented workshops with Vendo co-founder, Mike Faber, including:
- An intro to the marketplace founders’ professional and personal backgrounds, the marketplace business idea, the underlying business model and resources available,
- A deep-dive discovery call into the supply and merchandising side of the marketplace: product categories, sourcing for vendors, vendor onboarding, merchandising and product catalog curation, vendor operations, analytics & reporting, SLA monitoring, customer care, payment reconciliation, invoicing, marketplace taxes,
- A deep-dive discovery call into the demand side of the marketplace: customer profile(s), customer acquisition, the marketplace money-making formula, the buying UX and customer journey, upselling and cross-selling techniques with network effects, loyalty and brand ambassadorial programs,
- A workshop to formulate the marketplace go-live plan, timeline, resourcing, tooling,
- A series of onboarding activities leading to the marketplace go-live.
As a result of this $5,000-worth customer success package, marketplace founders will be set up for eCommerce success, confident in pursuing their business goals, and either bootstrapped or venture-fueled growth.
# Women founders get only 2% of venture capital dollars.
Despite the top-selling eCommerce categories of fashion, home decor, and health & beauty being women-driven, it is often hard for female marketplace founders to build their businesses because of the capital-intensive marketplace development process and the gender funding gap.
According to both Pitchbook and Crunchbase studies, only 2% of venture capital dollars invested in 2021 went to female-founded companies.
# Women founders create jobs
According to a report from Citigroup cited by CNBC, “achieving gender parity in business growth could boost global gross domestic product by as much as $2 trillion, or 2% to 3% of global GDP. Gender equality could also generate between 288 million and 433 million jobs.”
Bootstrapped eCommerce businesses make a difference not only for their customers shopping the highly curated product catalog but, more importantly, for the small and medium eCommerce brands seeking to widen their audience and marketing exposure. Marketplaces are yet another sales channel to them, helping sell more without an upfront investment into customer acquisition.
Indirectly, online marketplaces will create business opportunities and new jobs.
# Finding market traction is so much easier with Vendo.
Marketplace startup founders choose to build their marketplace businesses using Vendo in order to cut their time-to-market and focus on realizing their vision instead of managing underlying eCommerce technology.
Vendo facilitates eCommerce entrepreneurial efforts by automating and streamlining complex back-office processes that make the marketplace world go round. Vendo automates vendor onboarding, products sync, order fulfillment, seller payouts, marketplace taxes, and more.
Vendo allows you to launch a marketplace at a fraction of the cost of custom development within weeks instead of months. Finding market traction is so much easier with Vendo.
# How Vendo supports women founders
What Vendo brings to the table for women marketplace founders is demonstrable market traction much easier and faster, at a much lower initial cost, and with much better cost-efficiency of daily marketplace operations.
All of these are self-explanatory and in high demand among VC investors, even those who can’t personally relate to the women-led lifestyle, fashion, or beauty businesses.
Speaking of which, here are some blog posts on how to start a marketplace business in top shopping categories:
- How to start a wellness marketplace: trends, product categories, and successful Marketplaces
- How to start a beauty marketplace with tens of Shopify skin care, face, hair, makeup, nails brands
- How to start a successful fashion marketplace with tens of Shopify apparel, shoes, bags, jewelry, glasses brands
- How to start a baby & kids marketplace with tens of Shopify brands
And here are some YouTube videos from Mike:
- How to launch a marketplace in 14 days with Vendo?
- Why your buyers will love your marketplace?
- Why your sellers will love your marketplace?
# How to claim your $5,000 credit for Vendo customer success services
To claim your $5,000 credit for Vendo customer success services, please send us a message through our contact form and shortly introduce yourself and your marketplace idea. Please use the WOMEN2022 keyword so we could easily spot your message.
We will reach out to you to schedule an intro call. Calls will be scheduled on a first-come, first-served basis.
Mike Faber, Vendo, 1 302 469 0713, email@example.com
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