Magento Multi Vendor Marketplace solution
Magento Multi Vendor Marketplace is an open source e-commerce system that is considered one of the best in today's digital and technology market. With its help, you can develop a powerful retail store that will generate sales and improve your financial situation. The customization options will allow you to create a great eCommerce store. In addition, this options will provide an opportunity to create a fully responsive online store. Hiring Magento professionals is a smart move for non-techies who want to drive a lot of traffic to their store and convert it into paying customers.
What is a marketplace?
Multi Vendor Marketplace for Magento is an online platform that brings together sellers or sellers and customers. In fact, this is an online marketplace where some people put up their goods for sale, while others buy. Marketplaces have hundreds of sellers and thousands of goods of various kinds. In this case, customers can choose the product they like and immediately order it without being redirected to the seller's website or registering there. The marketplace does not sell; it is only an intermediary connecting sellers and potential customers.
What is sold on marketplaces? Everything from household goods and household chemicals to cars, clothes and shoes, electronics and food. Who can sell on the marketplace? Sellers are both large brands and dealers, as well as individual entrepreneurs, and even the self-employed.
The main goal of Multi Vendor Marketplace for Magento is to make mutually beneficial cooperation between the seller and the customer. The role of the trading platform may be limited to attracting traffic and generating an application. And all work with the customer, including the delivery, is done by the seller. Some marketplaces, on the contrary, provide the entire cycle of work: from attracting traffic, and generating a purchase request to delivery to the customer from their warehouse.
Each trading platform may have its own rules, but the principles of operation are similar for all:
- The seller registers on the marketplace, fills out product cards with photos and prices.
- The goods are shipped to the warehouse of the market or remain in their own warehouse (depending on the type of cooperation).
- Potential customers enter the marketplace, study the offers, and select the desired product. They register on the resource, select the delivery type and payment method and wait for the product to arrive.
- Next, delivery to the customer is done by the seller or marketplace (postal services, transport companies, or their courier service).
- The money for the goods is transferred to the seller.
The scheme of work is simple: the seller receives customers and sales, the customer has the opportunity to choose the necessary product according to its characteristics and price from hundreds of offers, and the owner of Magento Multi Vendor Marketplace receives a commission for mediation. The structure of the marketplaces is also quite standard:
- product catalogs;
- blocks with registration and authorization;
- personal area;
- seller's office;
- payment systems;
- modules with reviews.
What does multi vendor mean?
Multi Vendor Marketplace for Magento is a special platform that allows many different sellers to offer their goods or services. For sellers, such marketplaces offer a wide ready-made base of loyal customers, and for customers - a diverse range of products.
The term "multi-vendor" comes from a combination of the prefix "multi", meaning "many", and the word "vendor", which means "supplier". Thus, a multi vendor is a system that combines several suppliers.
Magento Multi-Vendor marketplaces are often used by businesses to optimize internal processes, creating a unique environment. Also, the term "multi-vendor" is often used in the context of describing the principle of operation of large marketplaces.
Features of Magento Multi-Seller Marketplace:
- a standalone platform that is better suited for tech-savvy business owners;
- certain technical skills are required to manage a number of available settings;
- commission depending on the type of goods, or a flat commission for all of them;
- support for all languages (including LTR and RTL);
- responsive web design;
- order management, feedback support ratings and commissions;
- third-party modules are available.
The choice of platform depends on the goals. If you are a novice entrepreneur and do not plan significant investments in the development of the project, it is better to choose a simple cloud solution, preferably with customization options. If you are serious about creating a powerful marketplace, perfectly fitting the platform to your business processes and goals, and scaling over time, then it is better to choose Magento 2 Multi Vendor Marketplace right away.