Surely, there must have been some good reasons for the biggest global e commerce outlets to become multi vendor stores. Ecommerce multivendor website have an upper hand over single-vendor stores for specific reasons. They offer a greater reach, improved scalability, convenient business management and increased profitability. This is why aspiring business leaders who are aiming big are making a dash for multi vendor eCommerce stores.
Moreover, simply choosing multi vendor does not guarantee an all out success in the eCommerce domain as a smooth interaction between admin, vendors and buyers for perfect management is equally important. Besides, there are several must-have features which a multi-vendor marketplace should imbibe which helps an entrepreneur to run their shopping outlets successfully.
Without further wait, let’s check out those features right away.
This helps the sellers to curate their individual product collection. As a seller registers within a Marketplace or adds a latest product, it gets forwarded to the admin for the consent. Once the approval is given by the admin the seller or the item gets listed in the Marketplace.
Listing the products or items on homepage on in the adjacent panel assists the viewers to see the top products that are trending in the store. The general products that you prefer to push further can also be listed on the homepage.
Consumers can rate or review particular sellers. Customers should be allowed to offer their worthy reviews with regard to the sellers and rate them. Such a rating system is essential as it motivates the vendors to extend improved services concerning the products to the consumers.
A great marketplace offers their consumers a good reason to choose purchasing from them rather than some other marketplace. Thereby, you should provide detailed testimonial and customer reviews.
The owner or the admin are allowed to fix their commission. The seller forwards a commission or share of the goods sold to the admin. The admin on their part can fix a global commission for the entire Marketplace vendors. An automated work processing from
Sellers need to avail a complete dashboard to review their relevant statistics. A multi vendor marketplace permits its sellers to generate an invoice for their selling items and products. Add-ons for the various platform to create reports, through which the seller can develop their total sales report and the sale of any specific product.
Features allowing separate handling of shipping and taxes of the sellers from their end endows them with greater freedom. The seller can get in touch with the courier company and include the tracking number and generate the shipment. Such a functionality allows the sellers to ship their items to the buyers without any restriction.
A Responsive Web Design module supports all screen sizes and is compatible with all gadgets such as tabs, smartphones, laptop or various portable devices. The responsive design enhances the efficiency of both the sellers and admin in the Marketplace.
Multi Vendor Marketplace should contains remarkable features and power packed add-ons. This enables any E-commerce store to get transformed into a full fledged Marketplace site where seller can handle their product and can manage any operation be it shipping management, Invoice printing, blog writing to vendor buyer communication. As we are basking in an era of e-commerce with everything simply a click away, therefore if you do not enable the feature of your store in contrast to other sellers or outlets adding their product then most likely you will lose the competition. Make your e-commerce outlet reach the next level in terms of product, consumers, traffic and sales.
An indispensable feature of every online transaction that deals in money Payment gateways/processors are available in various sizes and shapes. Incorporating the proper payment processor to the marketplace with the utilization of payment API – a necessary evil.
You may also require to deal with various payment API’s for different payment modes such as Credit Card, Debit Card, Paypal, Net Banking, Cash on Delivery, Gift Voucher, EMI options etc. So to speak, the marketplace should support multiple payment gateways, particularly the renowned ones, such as CCAvenue, Bill Desk, PayPal besides others.
Amazon once mentioned that one second of load delay incurs cost above $1billion in yearly sales. Speed is the winner and reducing page load time can improve conversions drastically. The requirement for performance should be a major plank to work upon right from the beginning of architectural design till the making of the live site and includes both the front-end design and development stages.
Easy navigation enhances the shopping experience and a simple checkout page that is engaging drives higher sales from the same level of traffic. You can optimize the checkout process of your outlet by notifying your buyers as their order gets approved, processed or shipped and is ready for delivery and handing them a tracking number for their order to remain one up.
Other features that upgrades the consumer experience are multilingual and multi currency website where shopper can pay in the currency of their choice. Besides, by offering your potential buyers the choice of a preferred method of payment, you are not only raising their shopping experience but also shift them fast through the checkout funnel.
A dashboard for sellers or vendors provides a terrific idea as they can handle their profile, products, inventory and sales from one location.
An integrated Pay per Click advertising feature aids sellers in their product promotion and view the performance of their ad campaigns. By lending the sellers the option to select their entire marketing budget, cost per click and timeframe of a campaign, such promotion features help to augment their revenue.
An ecommerce marketplace needs to grow alongside the business growth. Admins should also be enabled to add more vendors, product categories and customize the site according to their needs. An automated processing of tasks from establishing commissions to shipping statistics and real-time tax, is primary to make the marketplace management well streamlined.
Expand your horizons limitlessly as you can sell throughout the globe using multi currency features. Further, you can let your consumers connect and login to your shopping store by using social sites like Facebook and Instagram. Moreover, you can share with your customers your website contents directly on the various platforms of social media.
A multi vendor ecommerce site that is packed with the above mentioned features can be projected as the perfect marketplace. With business professionals losing out on time due to fierce competition, opting for a turnkey ecommerce decision seems to be a prudent business strategy.