Magento Multi vendor Marketplace: Complexities involved and Ways to Deal with them
Published on 30 May 18
Nitin0
The CMS platforms have made the path of getting an eCommerce store way easier than it was earlier. However, the eCommerce industry is on the verge of being saturated. Thus, taking your business model to the next level is a must. The multi-vendor marketplace setup is one of the ways to stay ahead of the competitors and get the dream-like growth.
Reasons for choosing Magento for creating a multi-vendor marketplace
- Magento platform currently has more than 3lakh live eCommerce stores. It approximately has 25% of the total market share of all the eCommerce platforms.
- Other than the fact that the numbers don't lie, Magento is a trusted name for a number of big brands.
- Along with the statistical figures, Magento offers a number of features that can help you manage your business and boost the overall revenue with ease.
- Additionally, the high-end flexibility and scalability of Magento make it easier to handle the multi-seller feature.
Considering the reasons mentioned above, Magento is definitely the ideal solution that you are looking for starting an online marketplace. The next question that arises is what the negatives of having a marketplace.
The complexity of coding
The PhP-based CMS platform may intimidate the e-sellers for the complexity of coding involved in enable the multi-vendor functionality.
Solution: The good news is there are plugin available that easily convert your eCommerce site into a whole marketplace. Knowband’s Magento multi vendor marketplace extension is one such plugin that can serve the purpose for you. All you need to do is to install the Magento marketplace extension in your Magento eCommerce store. This will add the a form in the front-end. The sellers can fill up the form and become a part of the marketplace.
Different Vendor different products
By opening up the site for the third-party vendors, there are chances to include diversity at your store. Since different sellers might deal in different types of products, managing all in one go might become difficult.
Solution: The management of the site rests in the hands of the store admin. The entire control and management can be done from the back-end of the plugin being used. Magento marketplace plugin supports all types of products. Even the sellers will be allowed to list their products after the approval of the store owners. Thus, the diversity can be handled with least hassle.
Admin Earnings
The admin can earn commission in return of the rented space offered to the seller. With so many vendors, it sometimes becomes difficult to manage the commission and keeping a track of the pending amounts.
Solution: The automated approach of Magento multi seller marketplace extension allows the store owners to fix the global commission and order-wise commission. The admin can even view the total earnings as well as the pending amount of the sellers.
Sellers Promotion
With so many vendors, it is even important for the admin to offers a medium to the sellers through which the sellers can promote their products and shop.
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