Nowadays, the online shopping slope graph is elevating at an exponential rate. Customers prefer to stay indoors and look for their favourite products online. With the rise in online shopping interest, customers are looking for such platforms where they can get all their products without switching from one platform to another. This is one of the basic reason that you should upgrade your online Magento 2 store into an online Marketplace.
The success of Marketplace is not hidden from anyone. Multi-seller Marketplace is doing great in the eCommerce industry because of all the amazing features and benefits it brings with itself. Some of the world-wide eCommerce marketplace sites are Amazon, Etsy, eBay etc. Magento 2 Multi-vendor Marketplace module offers an online platform where multiple sellers enrol their account and sell their goods at the Marketplace. Global sellers with their variety of goods can serve the wide customer base audience of the Marketplace. In addition to the major Marketplace features, the Magento 2 multi-seller Marketplace module offers mobile app support. With the Marketplace module, the store owners can have their native apps (android & iOS apps). This makes the Magento 2 Marketplace modules fully compatible for all users and operating systems.
KnowBand, being a leading eCommerce plugin and Mobile App development company for Magento 2 stores, has now come up with some amazing solutions to transform your store into an Amazon-like Marketplace.
The Perfect solution to Launch a Magento 2 Multi-seller Marketplace are as under:
- The Magento 2 Marketplace Extension by Knowband offers the most simple and best way to launch an online Marketplace. Zero technical knowledge or coding skill of admin is required to install and configure the Multi-seller Marketplace plugin. The Magento 2 multi-vendor Marketplace addon is a ready-made solution for the store admins looking for the best way possible to transform their store into Etsy, eBay like marketplace.
- Another perfect solution to convert the Magento 2 store into an online Marketplace is by using the Magento 2 Advanced Marketplace extension. Magento 2 advanced multi-seller Marketplace with mobile app extension offers a Magento 2 Marketplace along with a mobile app.
In both ways, the eCommerce online store owner can easily upgrade the online shop into an online Marketplace. The marketplace app available with the Marketplace module enhances the target range and conversion rate.
Some Major Benefits of having an online multi-vendor marketplace are :
Magento 2 Marketplace module offers a ton of features and benefits to the online users, sellers as well as the store owners. Some of the major ones are listed below:
Increased reach and visibility
Magento 2 Marketplace built using the marketplace plugin allow sellers to list all types of product. Multiple sellers all across the globe can easily register their shop and sell their goods at the Marketplace. Multiple sellers with their variety of choices listed enhance the reach and visibility of the online store. Magento 2 Marketplace Mobile app available with the advanced Marketplace module brings the marketplace at customers fingertips
Increased conversion rate
Multiple choices available at the single platform keeps the customer engaged and thus reduces the bounce rate. So, a large number of online buyers, who are visiting the Magento 2 website will end up buying products from the store. More time spent on the site will eventually lead to a higher conversion rate.
Stable cash flow:
Magento 2 Marketplace act as a recurring revenue source for the store admin. Store admin can charge a global or individual commission per seller order. In addition to the commission Model, the new feature addition, subscription service model in the Magento 2 Marketplace gives a boost to the store admin earnings.
Lower marketing costs:
An online marketplace provides the sellers with a pre-qualified audience. On a marketplace, sellers get the privilege to cater to the wide audience of the Marketplace without worrying much about the marketing and website development.
Additional revenue opportunities
Marketplace store admin can also list their own products at the Marketplace and earn a huge profit there. The membership plan added in the Marketplace will decide the product validity and the maximum product limit a seller can enrol at the Marketplace. Sellers need to buy a plan to list and sell their goods.
Smooth Shopping Experience:
Simplified checkout options available at the Marketplace make the shopping process simple and smooth for the customer. Marketplace with its multiple payment and shipping options offers a quicker shopping experience to customers.
Magneto 2 Marketplace send email notifications to the customers to keep them updated about their order and order status. The store admin can also customize and send email notifications from the admin panel. Sellers are kept updated about the various activities at the Marketplace via email notification. Customers can also send their feedbacks and ratings for the products and sellers from the frontend of the Marketplace.
Customer-Seller Chat support:
Customer’s can directly contact the sellers from the frontend of the store. For each query or contact, Magento 2 Multi-Vendor Marketplace module assigns a ticket number. Sellers can directly reply to the customer’s queries from the ticket, available in the seller dashboard.
From the above discussion, we can conclude that a marketplace offers a bundle of benefits to all the 3 pillars of the Marketplace. If you have any queries or doubts regarding the Magento 2 multi-vendor marketplace then feel free to reach us at [email protected].