Many eCommerce businesses have flourished in past few years only because of upgrading their store into Multi-Vendor Marketplaces. With the advancement of technology where customers are crystal clear about their needs and requirement, its highly important for store owners to keep themselves updated with the latest trends and keep updating their store. If you have an eCommerce store on Magento platform and are looking for ways to expand your business, then Multi seller Marketplace will be a new lease of life for your online store.
By now, you must be thinking what actually a Marketplace is and how it will help your online business to grow?
Multi–Vendor Marketplaces are online platforms where multiple third-party vendors can sell their products. The owner only manages the store whereas the third party sellers get to sell their goods. From a marketplace, online buyers can purchase products from multiple sellers, unlike the traditional e-store where the buyer purchases products from the store admin directly. The main benefits of the marketplace are that it offers rapid growth by allowing other sellers to sell their accessories without the need to buy tons of inventory.
Your online store can easily be shifted to a fully functional marketplace like Amazon, Etsy, eBay etc. There are various extensions available to turn your online store into a Multi-Seller Marketplace. One such is the Magento 2 Multi-Vendor Marketplace module. Like its name, the module upgrades the store into a Marketplace.
Without any coding or technical knowledge, store owner using the Magento 2 Marketplace extension can easily launch their own Marketplace. Being a Magento 2 store owner, you must have come across various plugins to add more functionality to your Magneto 2 shop. The Magento 2 Multi seller Marketplace extension by Knowband is one such addon for you.
Steps to turn your online shop into Marketplace
Step 1: Buy Magento 2 Multi-Vendor Marketplace from Knowband.com. You will receive a Zip file and User Manual
Step 2: Unzip the file and upload the files.
Step 3: Install the Magento 2 Marketplace plug-in available in the backend of the store.
Once the installation process is completed, the install button will get converted to configure. Still, wondering about the benefits of the Magento 2 Multi-Vendor Marketplace? Here are some of the major ones in detail.
Features of Magento 2 Multi-Vendor Marketplace Module:
1. Easy Seller Registration:
In the customer sign-in form, Seller needs to check an additional checkbox to get themselves registered as a seller at the Marketplace. Once the store admin approves the seller request, the seller can start listing their products at the store
2. Trouble-Free seller Monitoring:
The Marketplace allows the admin to track the vendors from the backend of the admin panel. Vendor list can be managed from the admin panel by store owner itself.
3. Commission Management
Store owners can charge the commission to sellers for selling their goods. Magento 2 Marketplace offers store owner the privilege to charge commission for individual sellers too.
4. User-Friendly Dashboard:
After approval, sellers get a separate interface where they can list their products, operate their shipping methods, manage inventories & orders and change their profile.
5. Add Multiple Categories:
Sellers can add products in allowed categories at the Marketplace. For an additional category, vendors can send a category request to store owner. Store admin can approve or reject the request from the backend.
6. Multiple Product type Compatibility:
Variety of products like Simple, Bundled along with their basic details can be added at the Marketplace.
7. Seller Order and Review Management:
Store admin can monitor and handle the seller commission, transactions, orders and review from admin panel.
8. Membership Plan:
Magneto 2 Marketplace offers a subscription based model for store owners. In this plan, in order to start selling on the marketplace, the sellers need to plan as per their requirements. A membership plan for the Marketplace will act like a great revenue source for the store owner.
9. Mobile app Compatibility:
Magento 2 Multi-Vendor Marketplace offers mobile app compatibility which means now online buyers can view a list of enrolled sellers, seller products and seller reviews from their mobile phones
Moreover, Knowband offers Marketplace connector modules to integrate your Magento 2 store with the well-established Marketplace like Etsy, eBay and google shopping.
Hence, in order to keep up with changing eCommerce trends & stay visible to online buyers, switching your online store to Marketplace is a basic need to achieve success. Having a fully functional marketplace will enable the online retail stores to serve their customers in a better way.
Liked? Also Read: