The multi-vendor stores are the most popular form of eCommerce business these days. With a wide range of multi-brand products, these stores attract more customers and earn better. Today, with many multi-vendor stores like Amazon, Alibaba, Ebay, Etsy and Flipkart are trending at the top. According to Statista, Etsy is the most popular online marketplace in US in 2019.
The multi-vendor eCommerce marketplaces are gaining more profits as they provide their customers a wide range of products with competitive prices at a single platform. This multi-vendor approach gains by making customers spend 3 times more than a single vendor eCommerce marketplace. So, why not go for it. Here are a few more reasons that help you understand the need of a multi-vendor eCommerce store than a single vendor store.
- Cloud based business: The cloud technology makes it easy for retailers to fetch real-time data anytime and get better insights into stock levels and sales. Moreover, the cloud platforms also help in better inventory management.
- Unique shopping experiences that bring customers to shop often: A multi-brand eCommerce website provides one stop shopping destination to the customers, thus becoming a choice of customers to come back and shop again.
- Supports B2B, B2C and B2B2C: Such a platform brings multiple vendors at one place to provide the best and competitive pricing options to the customers. Moreover, with so many vendors at one place, the customers are more likely to prefer shopping more with a higher customer engagement rates.
- Simplified buying and payment experiences: With a multi-vendor product display, these eCommerce websites provide better product filtration options based on customers interests and product features. This well organized format gives users a more simplified shopping experience with multiple payment gateways incorporated.
Multi-Vendor eCommerce Platforms for Global Growth
With several brands and numerous customers, a multi-vendor eCommerce platform not only gives you relevance in your local market, but also gains a global popularity. Such an eCommerce ecosystem leverages SaaS infrastructure, headless commerce and customer support with advanced content management and ecommerce features.
With a cloud-based eCommerce solution, it is easy to manage inventory, sales, shipping and tracking, leverage security and foster customer satisfaction. Moreover, this cloud platform gives your eCommerce website a uniform functionality throughout the globe.
Magento for Multi-Vendor Marketplace
Marketplace Multi Vendor is a popular extension by Magento that transforms your eCommerce business into a multi-vendor marketplace. With the most advanced features, Magento allows both suppliers and vendors to create, track, update and manage all the products the website caters. A dedicated vendor dashboard allows different vendors on your eCommerce website to have access to all the features without using the admin privileges. This gives a very organized way to the vendors and the admin to manage products in a better way. The following are the most useful Magento features that give a great environment to the admin and vendors “
- Allows multiple vendors
- Different merchant profile
- Easy bulk product upload
- Organized list of orders
- Product tracking
- Insights and repots
- Integration of PayPal
- Mobile responsive interface
- Automated payments
- Drop shipping
The changing customer trends have shifted the way online businesses need to work. A multi-vendor eCommerce store gives an opportunity to get global recognition with increased number of customers. Moreover, the increasing competition, it is important to hire a eCommerce development company that efficiently develops a robust multi-vendor platform to cater your needs.