Multi vendor eCommerce marketplaces have become extremely popular among the audience these days. This is because we can sell numerous products from a single platform. You will also be able to manage your E-Commerce multi-vendor marketplace quickly and easily. It is very easy to earn a lot of profit without having to own an inventory. You can also provide your customers with a hassle-free shopping experience. So, let us see what an E-Commerce multi-vendor marketplace is all about.
What is an E-Commerce multi-vendor marketplace?
A multi-vendor E-Commerce marketplace is one such application or website where different vendors share a common platform and sell their products and services. The admin will handle all the transactions and operations that take place in such a marketplace. Here, each vendor has his/her own inventory. The customer will be able to get access to products from different sellers. They can compare the prices and pick the product of their choice.
What are the different types of multi-vendor E-Commerce marketplaces?
Multi vendor market E-commerce marketplaces are of 3 types:
B2B: B2B multi vendor E-Commerce marketplace is a kind of market place where a business can be in the relationship with another. In other words, it is one such platform where the vendors can connect with the buyers. The suppliers can connect with the retailers and the manufacturers can connect with the distributors.
B2C: In B2C multi-vendor marketplace, the vendors and the sellers will be directly selling their products to the customers. A very popular example of B2C marketplaces is Flipkart and Amazon.
C2C: In C2C marketplaces, the customers will directly interact with the businesses. The role of a seller is similar to that of a customer. Few examples are OLX, eBay, etc.
The business model of multi vendor E-Commerce marketplace:
The business model of a multi-vendor E-Commerce marketplace is a simple one. Such kinds of marketplaces allow interaction between the vendors and the customers. The business owners will be creating a website where vendors can register themselves. The vendors will display all their products on the website. The admin will be handling all the inventory and managing the delivery system.
The main focus of the vendors will lie on the products. They will not have to worry about customer support and site maintenance as those will be dealt by the admin. The customers will have access to the products displayed by all the vendors. They will be able to compare the prices and purchase a product of their choice. Whenever a customer purchases an object and the payment is done, a part of the payment will be transferred to the admin’s payment account as a commission.
Multi-vendor eCommerce marketplace features:
Multi vendor marketplace has loads of features. Let us have a look at some of the essential features from the perspective of the vendors, buyers and admin.
Essential features for the vendors:
- Simple sign-up process.
- Easy ways to manage products.
- User-friendly dashboard for managing the products.
- Simple order receiving and processing procedure.
- Notifications whenever a product is ordered.
- Simple marketing tools like an open management system.
Essential features for the buyers:
- Simple user interface.
- Easy navigation options for searching for the products.
- Add-on features like add to cart and wishlist.
- Simple checkout process.
- 24/7 customer support.
Essential features for the admin:
- Easy to customize.
- Front-end tools to run marketing strategies.
- Easy monitoring process.
An online marketplace comes with numerous integrations. Some of the integrations have been mentioned below:
Your multi-vendor marketplace should offer different payment methods to your customers. This makes it very important for you to integrate payment gateway with your market. Different payment types are available which can be offered to your customers.
Also Read: Proven Tips to Secure Your WordPress Website
There are various logistics services which take care of the delivery of products. It is a good idea to select the right shipping gateways to make the delivery process reliable and quick. You need to search for the best third party logistics available in your area. Make sure that they are cost effective and also secure.
Your marketplace should have proper communication methods with your customers and vendors. You are required to send regular email, send messages to your customer regarding offers, discounts and new arrival. That is why it is very important to have a proper communication gateway.
How to launch a multi-vendor eCommerce marketplace?
You can easily launch your multi-vendor marketplace by using WordPress. All you have to do is use a marketplace theme and your website will be ready within days. Retail Market is a very popular marketplace theme using which you can design your multi-vendor marketplace. The theme comes with loads of amazing functions and features which you can add to your website. You will be able to customize your theme as per your requirement. You can also add community features to the pages of your website. Multiple single product pages are available where you can beautifully display your products along with their prices and descriptions.
So, these are the steps using which you will be able to launch a Multi-vendor eCommerce marketplace. Also, make sure to install a proper multi-vendor marketplace theme for your website.