What is a Multi-vendor Marketplace? An online marketplace is a platform that allows sellers to sell their products to the people they never considered as a lead. Undoubtedly, this increases the radius of your market because anyone in any part of the world can buy from your store over a click without any hassle. If a seller has a brick–and–mortar store and struggling on potential customers then he can choose a marketplace for online selling and put an end to that wrestle. A marketplace can sell vertically, horizontally, or globally. There are various classifications for defining the type of marketplace based on the type of products and services they sell and the target audience.
To start a marketplace, you must have an extension or software which can cover all the requirements of marketplace admin, sellers, and the customers who are the only source for generating capital for your business. We have a solution! An existing eCommerce website created on Magento can be easily converted into a marketplace with Magento 2 Multi-vendor Marketplace module.
The Marketplace extension is a complete package that can make your store seller-friendly and have some amazing features that attract the buyers. That’s not it but as a store owner, you can keep the track of every order placed and all the earning a seller makes. You can manage the sellers, products, and categories all from the backend.
Let’s begin with the features it offers!
Amazing attributes that make marketplace extension the best for Magento 2 Platform
The admin of the marketplace is the website owner or is a representative of the owner. Admin has all the ethical access to ensure that everything on its website is running smoothly. To properly manage his website, the Magento marketplace admin will have the following access:
- Seller account Management: Admin can approve/disapprove a seller account request. Admin can view the details of the sellers and activate/deactivate a seller anytime he wishes to.
- Add custom field in seller form: Admin can add one or more custom fields in the seller registration to gather more information.
- Manage product and categories: Admin can approve/disapprove a new category request and the products uploaded by a seller.
- Shipping options: Admin can add a shipping option for the sellers to use.
- Track sales and earnings: Admin can track the sales and earnings made by a seller.
- Commission Management: Admin can track the commissions earned on different sales made.
- Membership plans: Admin can create customized membership plans for new and existing sellers like monthly, quarterly, or yearly.
It offers many more advanced features that can track sellers move and help you achieve your target.
Seller benefits of Magento 2 Multi-vendor Marketplace extension:
- Interactive Seller Dashboard: Sellers can effortlessly manage the inventory; see the orders, purchase details, return with statistic reports from the seller dashboard.
- Add several products in different categories:The Product tab in the Magento2 Marketplace Module allows sellers to introduce a range of items, such as Easy Items, Packaged Products, along with the basic product details. The seller can send a category request to the admin to add anew one.
- Easy Payouts: Seller can ask for payouts and it has cron functionality that allows auto-payments as per the rules defined by the admin.
- Social Account: Seller can link social media accounts on the seller page which increases brand awareness and customer base.
- Store Reviews: Customers can drop product and seller reviews which in a way are social proof that can help the seller earn customer’s trust and loyalty.
- Track Orders and earnings: Seller can track the orders placed and see the earnings from the seller dashboard of Magento 2 Marketplace Plugin.
Why customers will choose to purchase from your marketplace?
- Great deals with various choices: Since many vendors sell on one platform it gives multiple choices to the customer that too on competent price.
- Register as a seller: Any customer can register as a seller from the front end of the Magento Marketplace.
- Hassle-free transactions– As the module is very well curated after considering admin, seller, and customer point of view, it supports hassle-free transactions.
- Leveraged with social proofs: Customers can add and see the product and seller reviews.
Magento 2 Multi-vendor Marketplace module supports all the Magento 2 templates and themes and it is compatible with many other modules such as Order Return Manager, Mobile App Builder, Master Deal which helps to create catalogue price rules, and many more. It supports different languages and comes with customizable email templates in different lingos.
These benefits are not enough but it offers a lot more than this. The Magento 2 marketplace extension is a superb plugin to manage the sellers and customers conveniently. It is easy to install and configure from the backend. You can visit the product page to understand the functionality and see the free demo available on the Knowband store.
Knowband offers Multi-seller Marketplace extensions for various platforms including Prestashop, OpenCart and Magento.