Multivendor e-commerce Solutions : Built to Connect Vendors with Buyers
With the advent of technological structures, e-commerce Marketplace solutions are predominating the trends. Our complete solution provides multi-vendor functionalities that give multiple sellers the privilege to sell their products under a single roof.
As of today, one of the significant on-going E-commerce trends is converting the basic E-commerce Website into Multi-Vendor marketplace. When your basic E-commerce website is converted into a multiple-vendor marketplace, your customers have lots of options and preferences to choose various products from the catalog. Moreover, they can compare various products and features from the same category, compare the prices of the same products from different sellers and finally buy their intended product from the Online Marketplace.
What is Multivendor E-commerce Solutions?
The multivendor e-commerce Solutions are a huge online store platforms that will extremely benefit the small to mid-level vendors who are searching for the online resource to sell their products easily to the users in a cost-effective manner. Through this Multi-vendor Marketplace, the sellers or vendors can manage their products and orders from front-end, customize their reseller UI/UX, and add shipping & tracking information with their orders from the separate vendor login credentials. The admin has the full control over to manage the entire marketplace, it can set customized commission rate for sellers to manage their orders, products, inventories, customize various transactions, Email communication, and customer reviews.
Multi-Vendor e-commerce digital marketplace platform is standalone eCommerce software that allows you to build a digital marketplace business. On the marketplace, independent eСommerce vendors market and sell their products through a single storefront. CodingRig multi-vendor software supports an unlimited number of sellers on a single digital marketplace.
Why Develop a Multivendor e-commerce Solutions?
Creating multivendor e-commerce solution comes with several benefits, as outlined below.
First of all, you incur low costs, yet the revenue is high.
Since you do not have to control the activities involved in the business operations like stock control, logistics, and storage, you have adequate time to focus on other activities that help the business to keep growing.
You get more customers because there are many goods in one place. This means you will make more profits from the increasing number of customers.
If you want to create multivendor e-commerce solutions, you need to understand the following types of multivendor marketplaces:
Business-to-business marketplaces
Also known as B2B, they allow companies to exchange goods and services. A good example is Alibaba which sells products to other businesses.
Business-to-customer marketplaces
Commonly known as B2C, it allows companies to provide their goods and services to end-users. Good examples include Flipkart and Amazon.
Customer-to-customer marketplaces
The C2C form of multivendor e-commerce solutions enables the customers to engage with one another.
Auction marketplaces
Here, different buyers bid for a product until the end period. A good example is eBid.
Crowdfunding marketplaces
Here, the marketplaces don’t rely on selling products alone. The platforms give users a chance to raise money to improve business ideas. A good example here is Kickstarter.
Features of Multivendor E-commerce Solutions
Some of the essential features that Multi-vendor E-commerce site must be integrated with it.
Search
This search feature in the Multi-vendor E-commerce website facilitates the user to search the array list of product based on keywords, dates, categories. By this way, you can filter and sort out your customized product by price, brand, rating, and reviews.
Private Marketplace
You can keep your entire Marketplace customized and private. This means that you can take over full control and manage your both buyers and sellers & customers. Whenever a person wants to become a seller, this feature in E-commerce Marketplace lets the admin approve the seller request only then the person will be able to become the seller.
Social Login
This feature lets you discover all the social media exposure of a multi-vendor e-commerce website and also helps the developers to create social media connectivity integration.
Payments
Either you can use the pre-integrated payment processors or you can integrate your own payment processors by deleting the default Payment gateway system.
Multi-lingual
These multilingual features allow you to translate and edit the content on your marketplace to different languages of your choice.
Admin Portal
Admin of Multi-vendor E-commerce website can manage users and make additions and customizations to the marketplace via the powerful admin dashboard.
Merchant/Seller Portal
The sellers of the Marketplace can view and manage orders and add new listings via the powerful seller dashboard.
Analytics
By integrating the google analytics account with your Multi-E-commerce store you can gather the full analytics data like most viewed items, total sales/revenue in numbers and through a graphical representation.
Custom Domain
With the Multivendor e-commerce website, the developers will be able to connect your own custom domain and create a custom landing page too.
Custom Homepage
You can create a customized marketplace on your own and create a customized homepage too. The advantage with the Marketplace e-commerce site is you can create every element for your desired ideas.
Workflow of Multi-Vendor Marketplace
While configuring the dashboard of Multivendor Website, admin or seller will be able to function based on the following workflow & take the advantage of these features.
Product Sale Commission
The admin can determine the commission rate for every seller for every sale they make from the Multi-vendor Marketplace platform.
Set ID
The admin has got full control over its sellers and has the full authority to add a new product or remove from the catalog. Set new ID or modify ID of the product
Inventory Settings
Once after setting the minimum quantity level for low stock determination in the configuration, whenever the stock level reaches the minimum level the system automatically sends email to the respective sellers and also notify admin accordingly.
Marketplace Seller Panel Management
Once the seller has been added to the Marketplace section in My Account Page, he or she can edit his/her seller profile, create an attribute for configurable products, add new products, view product list, a seller will be able to modify dashboard and customize it for their ideas, and more.
Update Seller Profile Information
If approved by the Admin, the seller can edit their profile information as per the need. The list of information that can be edited are title, contact, number, banner, logo, locality, description, return policy, shipping policy, country, meta keywords and payment information.
Challenges for Multivendor e-commerce solutions development
Setting up an online marketplace is too hard for a marketplace owner as you will face different challenges such as choosing the right platform, collect a good audience, and coordinate with vendors and more. Though you don’t need to worry about the inventory. To overcome those challenges we provide an easy process to create an online multi-vendor marketplace in no time.
Coding Rig provides end to end multivendor e-Commerce solutions development and can help you out to bring everything in one place for gearing up your e-Commerce store at a glance. Our expertise in e-Commerce Industry with more than 10 years of experience.
Whether you need help to get started with eCommerce or scaling up your Store. Feel free to drop an email and Coding Rig representative will get back to you.
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