Let’s discuss the features and benefits of the Magento Multi-vendor Marketplace Extension in this blog.
Before getting into the topics, let watch out the online marketplace stats that leave you wow,
- Amazon Marketplace leads the completion with 2.48 billion monthly visitors.
- Popular marketplaces including Alibaba, eBay, and Amazon accounted for 67% of total online retail sales.
- eBay secures second place with 689 million visits with a net worth of $46.33B in August 2021.
Magento Multi-vendor Marketplace website extension is an online platform that contains loads of vendors, where they can trade products without using various platforms for one purpose.
So there might be variable conditions that arise the need for Magento multi-vendor marketplace extension. The marketplace is where one product comes from distributors with many price tags.
You can link different stores at a single platform here in this Magento multi-vendor marketplace extension. Store such as bookstore, clothes store, and other stores you might need.
With these platforms, vendors have access to connect to each activity. Here they can upload, control their products, and users can buy those products on the website.
The proprietor gets fulfilled with a commission when someone purchases anything. So at times, sellers can deliver products with the term and conditions defined by the owner.
Features of Magento multi-vendor marketplace extension
Magento Multi-Vendor marketplace extensions help in converting online stores. With these extensions, you can convert your current Magento store into a marketplace with multi-vendor portal management.
Many online features support store owners in the business environment. It enables the owners to change the product catalog, requests, invoices, requirements. Also, the store owner can enjoy and use all features under a single platform.
Product sale commission
The admin can set the global commission rate for each seller for every sale they made.
Attribute set ID
The admin can select which all aspect sets sellers can use to include new products in the catalog.
Allow seller to manage orders
The admin can select whether to allow sellers to handle their orders or not. If yes, then the sellers can prepare invoices, track and ship them, cancel or refund.
Also, you can print the order from the front-end in few steps. Retailers can also send notification emails to their clients.
The admin can choose whether to have more control of the Marketplace or to automate the process. Here, the admin can allow anyone to sign up and become a seller. Then they can start selling products to the Marketplace without confirmation.
The admin can also choose whether to allow sellers to add products to the Marketplace. Or update product information without its confirmation or not. The admin can decide whether it wants to handle each order. Then send it to the sellers or send the email about the new orders.
The admin can send a little collection of warning emails to its vendors. All this to inform them about the good’s stock information. Then set the minor quantity level for low set information in the configuration so that the emails will send to the corresponding sellers.
Marketplace seller panel management
Once the retailer is added to the Marketplace on the My Account page, the retailer can change the seller profile to generate the configurable products. Also, you can view the products list from the seller dashboard to watch for order history.
The retailer can change the vendor’s name and contact number, site’s banner, and logo. And shipping-related information like region, shipping policy, refund policy, and country.
The vendors can offer many social media links in their stores. You can also send a request for any change from this part. From here to the profile page, reviews page, collection page, and URL for the location page.
The sellers can check this section to notice information about their revenue. So they can track the revenue flow with the help of monthly graphical representation.
It shows daily, weekly, and monthly revenue figures on the Marketplace. Also, they can watch out for the total vendor payout and the balance amount on the dashboard.
The seller can view the status of new orders, the latest comments & reviews received. The retailer can ask any question to the admin from this group.
Now the admin can enjoy many options for configurations with the Magento Multi-Vendor Marketplace extension.
Benefits of Magento multi-vendor marketplace extension
- Its effortless installation and easy handling module with the basic coding. All its coding is based on the latest Magento platform architecture. So, it also allows you to free to customize the code.
- This module supports a lot of needed features of a marketplace online. Below are some best features of this extension:
- The total control on disabling or enable any product by the vendor.
- Admin can enter to approval, remove or disable any vendor products.
- Allow seller to build their design or make products like T-shirts, mugs, hats.
- Enable Orders, products, transactions, and other essential statements.
- Let the users suggest the marketplace site via social media channels.
- Allows the Customers to send the information to the vendors. It is about the purchased product or get more about a specific product.
Those as mentioned above are the Magento multi-vendor marketplace extension features that Webnexs experts handpick. If you want to use these Magento multi-vendor marketplace extensions for your projects, feel free to contact us.
Also, find more information on Magento multi-vendor marketplace extensions here.