An Ultimate Guide To Choosing The Right Multi-Vendor Marketplace Platform
When it comes to online shopping, virtual marketplace models are the most happening trend making a massive impact on their buyers which has turned everyone’s attention towards marketplace platforms. Also, a marketplace is a place that encourages multiple vendors, manufacturers, and retailers to sell their products with a strategic plan.
The biggest advantage of the marketplace is their multiple vendors selling capability under one roof, with a huge variety of products, product comparisons, and brand trust. That’s why various eCommerce development companies have readily available multivendor marketplace business models. In this article, I am going to discuss the marketplace features to be considered before choosing a multivendor marketplace solution for your business.
1. Vendor Management & Support
It is significant to note that the E-commerce business is giving all types of easy and required support to the sellers that include the registration of vendors, management of inventory, product picture uploading, costing, delivery, and apparently the commission standards.
2. Order Management
Managing orders is one of the crucial tasks. Store admin needs to keep an eye on all open orders. Vendors should also know when the product is ordered, so they can make sure an order is completed as soon as possible. It’s important to show admin and vendors all orders. Admin can organize orders by status to see which orders are done and which need to be finished.
Is the vendor or the marketplace owner responsible for the product fulfillment, and how will you organize the various options for shipping? Different marketplaces provide fulfillment options upon certain percentage. The marketplace should also have the capability to incorporate different shipping options when required.
4. Performance Statistics
Going through the records of previous year sales and performance can give a good outlook of how the e-commerce website operates. Look at the customer visitation statistics and build a graph to conclude.
5. Marketplace Branding
Branding is very important, as it determines how customers see your store and the experience they have. It’s important that y