Magento multivendor marketplace – A Safe Haven for Marketers!

Amazon, eBay, and Flipkart are the established names in the online shopping market. They have done incredibly well in the area of the multivendor marketplace.

The multivendor marketplace is an ecommerce extension. For sellers, it converts an online store into an online marketplace. Sellers can have full access to management of products, their sales, bills, shipments and offers/schemes. This multivendor marketplace extension charges the vendors in exchange for this service.

The difference between e-commerce store and multivendor marketplace store

E-commerce store

In this format, only two parties are there, store owners and buyers.The store owner has the right of selling to buyers. The administrator can add, delete and manage products. He/she collect the revenues directly from sales.

Multivendor marketplace store

Here not only store owner and buyers, but other sellers are also involved. Store owner and seller, both can be in the area of selling products. Here not only administrator, but the seller can also add, delete and manage products. The end part is different. Like e-commerce, the administrator can only collect revenues. After deducting the commission, revenue is given to the particular seller.

Benefits of Magento multivendor marketplace

It seems a win-win model for all store owners, vendors, and customers.

For store owner

The store takes a commission for different vendors depending upon the services they avail.

For vendor

The vendor gets to sell his/her products through multichannel. At the same time, one doesn’t have to worry about SEO things, maintenance of portal, and other marketing strategies.

For customer

For one product, the customer gets many choices related to price and quality. And then he/she can go for what fits in his requirement.

Features provided by Magento

1. Vendor group

It allows creating groups of vendors depending on their commissions. For example, there would be a gold, silver, platinum or normal group decided as per commission was given by the vendors.

2. Vendor account

This means registering a new account, creating the password, forgot password systems etc. It also includes approval of account after necessary authentication is performed.

3. Vendor dashboard

It gives an overlook about the business to a vendor about his/her store. It includes credit amount, sales information, last few orders, last some transactions, some reviews etc.

4. Vendor product management

This as a product management panel. A vendor can view, add, delete or edit product information. But these modification goes to the admin first for approval. Once admin approves them, changes start reflecting on the portal.

5. Multiple shopping carts

For end customer, the shopping cart is parted as per vendors and then the customer can choose to proceed.

6. Vendor order management

The vendor can have a look at order information. He/she can add comments and create shipment details also.

7. Vendor shipment management

Shipments can be created here also. Vendors can create the shipments as per orders and prepare the printed invoices accordingly.

8. Vendor credit account

After the customer pays for the order, the money goes into the admin account. But vendor can see his share/credit from his/her credit account.

9. Different payment methods

The vendor doesn’t have to worry about payment gateways. The store provides different portals like credit card payment, debit card payment, payment through some non-bank authorities’ wallet or cash on delivery etc.

10. Transaction management

If a customer reports a query regarding a delivery or an invoice, then transactions page will help a customer care person to resolve a query on the spot.

11. Multi-language support

It is a huge benefit. A customer or a vendor doesn’t have to be profound in one language. He/she can opt for the language of comfort.

12. Help feature

Sometimes a vendor doesn’t understand a particular feature or a new arrival or any other technical matter. Help feature takes the vendor to the relevant place.

13. Upgrade support feature

Regarding performance, it can be about the speed of an application, about new arrival of the scheme, or any other things which need enhancement. Upgrade support feature ensures that vendor stays and progress in the competition.


Magento and WordPress

WordPress with Marketify

It is a theme of WordPress. It is for digital producers who can download easy digital sources to create multi-vendor marketplaces. It is very much cost effective and it has a very user-friendly interface.

Its registration process is also very simple. Vendors are given a front-end from where they add or edit products. The vendor doesn’t have to go to WordPress dashboard.

Magento with Marketplace

It is an extension of Magento. It said to be the very much robust version of the multivendor marketplace. Magento multivendor marketplace covers almost all functions of the multivendor marketplace. It offers good search functionality as well.

In short:

Small vendors want to penetrate in the e-commerce market. But at the same time, they don’t want to bother about application development, its maintenance, and SEO. They always search for those who can handle above things for them. In this case, the multivendor marketplace is a perfect, efficient and cost effective solution for such vendors.

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