In the era of eCommerce, not staying in sync with the changing trend can kill your business. The increasing popularity of online shopping and the inclination of the shoppers towards the eCommerce sites, the e-sellers have a great opportunity to expand with the least resources. However, despite the huge potential, having a shopping site is not enough. Upgrading your site into a marketplace is an inevitable aspect of staying abreast of the competition.
What is an online marketplace?
An online marketplace is more like a virtual shopping mall where the various third-party sellers can list their products and sell them. Allowing the sellers to sell their products directly to the customer from the site, the admin can offer a wider assortment to the store visitors without maintaining any inventory. The order processing and shipment is the responsibility of the vendors. In return for the rented online space, the sellers have to pay a commission to the store admin.
How to convert your Magento site into a marketplace?
The complex code involved in maintaining a site is quite a task for the store owners. In addition, the job of maintaining multiple sellers, products and other related issues is quite intimidating for some of the e-merchants. Are you worried about the same? You need not worry anymore. You can create a thriving marketplace or convert your eCommerce store into an online marketplace in a few simple steps.
Magento Multi-vendor Marketplace extension by Knowband can help you create an advanced marketplace from the scratch in just 3 simple steps.
These steps are mentioned below:
Step 1: Purchase the Magento marketplace module and install it in your Magento store.
Step 2: Once the installation is complete, enable the Magento multivendor marketplace module. Fix the commission and enter the basic information as required by the plugin.
Step 3: Your site is now a fully-functional marketplace. Invite the sellers to register themselves on your site. Approve the profiles from the back-end of the Magento marketplace plugin.
Step 4: The marketplace is now ready. The customers can shop from the assortment of the various sellers and the admin can charge a fixed commission from the vendors.
The marketplace owner has complete access to manage the sellers, products, categories, order and other transactions of the marketplace site. While the sellers can add and manage their products with ease. The shipment of the orders received from the Magento marketplace is the responsibility of the seller.
The admin can set the commission and change it from the back-end of the Magento Multi-vendor Marketplace module.
What are the Admin Benefits of Magento marketplace extension?
Simple Marketplace Conversion:
The admin can convert their site into an online marketplace with the help of the extension. Magento Multi-vendor Marketplace plugin offers a number of website templates for the various eCommerce businesses. The admin can select any one as per the requirement.
Easy Management:
The easy online transactions attract more and more sellers to your site. The admin can approve/reject the sellers with the help of Magento Marketplace module. The admin can fix the maximum number of new products that the seller can list. The products listed in the marketplace can be viewed from the admin interface. The admin even has access to approve/disapprove the categories.
Bulk import and export
With Magento Multi vendor Marketplace Extension, sellers can map their categories and attributes to upload the products in bulk.
Review Management:
The customer reviews can be approved/rejected by the marketplace owner. The customer can add reviews for the sellers as well as the products.
Commission:
The admin can even set the commission and change it whenever required. Sellers need to pay the commission to the admin in return for selling their products at the Marketplace.
Reports:
The admin can even sell his own product. The sales report can be retrieved in the admin interface of the Magento Multi-vendor Marketplace plugin. The store owner can view the entire transaction, revenue generated and transaction history of the sellers.
Email Notification:
The Magento Multi-seller Marketplace module offers default email templates that allow the store admin to keep the sellers notified.
Vacation Mode:
Magento Multi-vendor Marketplace Module allows the sellers to disable their shop for a particular time period. Once the request is approved by the admin, the seller products will no longer be available for sale. The magneto Marketplace admin can view the sellers on vacation from the Vacation tab of the Magento Marketplace Extension.
Seller Coupon:
Sellers can offer seller coupons at Marketplace to attract more customers. Customers, in order to avail the benefits of these coupons, will make a purchase at the Marketplace.
Cross-sell and Up-sell Products:
Upsell products and Cross products on the shopping store enhances the shopping experience of customers. Sellers can offer Upsell products and Cross-sell products at the product page and order confirmation page.
Social Account Links:
Sellers can link their social account links from the seller dashboard. The seller has the choice to add Instagram, Twitter, Pinterest and Vimeo social accounts from the seller dashboard.
Seller-customer Ticket:
Customers can now directly contact the sellers from the seller dashboard. Every time a customer contacts the seller a ticket will be generated.
Tax -class:
Sellers now easily identify taxable and non-taxable items by keeping the products in a taxable and non-taxable class.
Moreover, the Magento Marketplace Module is also compatible with the Magento Multi seller Marketplace mobile app builder. The customers can view the seller list and their respective products from the mobile app. Customers can view and write seller reviews from the product listing and the product page of the app.
Over to you
So, if you are looking to create your own Marketplaces like Amazon and eBay, then, here is a perfect solution for you that can help you stay ahead of the competition.
Knowband is a leading eCommerce development company involved in plugins development for various CMS platforms. This time Knowband has come up with a combo extension, Advanced Magento Marketplace with Mobile app extension, where the admin can have a Marketplace and mobile apps built for their store. Marketplace and mobile together will help the admin to provide items/ services of multiple sellers and enhances the reach of your store.
For further information on Magento Multi-vendor Marketplace Module, please refer to the following links:
Magento Marketplace Extension User Manual
Magento multi seller marketplace extension Admin Demo
Magento Multi vendor Marketplace Extension Front Demo
Magento Multi vendor Marketplace Extension Video