Multi-vendor marketplaces are large scale eCommerce stores where multiple vendors can sell their products and services. Vendors take care of day-to-day sales operations like inventory and shipping. You, the merchant, can focus on drawing in customers and increasing marketplace brand recognition.
What is a Multi-vendor Marketplace?
- Multiple vendors sell goods, services, rentals, or downloads through one online store.
- Instantly increase your product offering when vendors add new goods.
- You control the marketplace and vendors through a single dashboard.
- Vendors have their own dashboard for handling orders and products.
Why Magento For Marketplace Development?
- Easy conversion of Magento e-commerce store into a Marketplace.
- Permits the vendors to get registered, showcase, and sell their products.
- Enables store owners to manage products with a merchant panel.
- Brings revenue for the store owner in the form of vendor commissions.
- Offers the customers a wide range of products, brands, and suppliers.
- Provides automated routing of orders with the appropriate vendors.
- Enables sellers to manage inventory, orders, shipping, and sales.
- Helps them to manage business reports, transaction reports, and rating.
- Offers support for multiple payment methods and product types.
- Gives support for both B2B and B2C transactions
Benefits of Magento Marketplace Store
Benefits for Store Owners
- Enables them to earn revenues in the form of commission on sales.
- More sellers and products bring higher search rankings for the store.
- Higher search rankings translate into more traffic for the store.
Benefits for Customers
- Provides more shopping options at a single online destination
- Enables comparison of products and prices for smart shopping
- Saves their time, effort, and money and gets them quality products
Benefits for Vendors
- Helps them to save time and money as they join a ready-made marketplace
- Saves them from the complexities of starting and running an online store
- Empowers them with mobile connectivity as marketplaces run on mobile