Want to set up an online marketplace? Here are the benefits of using CM’s Multi-vendor Marketplace Extension.
A multi-vendor marketplace is an online store for third-party sellers (like vendors and suppliers) to sell products all in one place.
Many people choose to use a multi-vendor marketplace because they can sell a wider variety of products from multiple sellers, and these sellers are responsible for the inventory, pricing, product details, and shipping.
The Multi-Vendor Marketplace Extension for Magento 2 is a simple way to turn your eCommerce store into an online marketplace like Amazon.
Features of this extension include membership options, scheduled payments for vendors, shipping management options, a vendor registration page and more.
With this extension, the vendors have a completely separate vendor portal and dashboard to manage all of their products.
You can set a separate registration and login page for the suppliers and view a list of all the products added by each supplier.
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In addition, the extension offers a bulk product upload using CSV files as well as advanced tracking codes for shipping on each order. The admin must approve the vendors, and the vendors have customized profiles that are shown on their product pages.
All suppliers can easily manage shipping methods and costs or let the customer choose a pre-defined shipping method.
Easily track and manage billing to organize monthly vendor payments. Also, generate a supplier’s sales conversion or sales report.
Advanced Vendor and Dropshipping Options
The Multi-Vendor Marketplace Extension for Magento 2 also supports vendors and multi-vendors activity, whereby users can create a chain of supply by selling products online and having them shipped directly to the buyer from a third party vendor, without having the need for inventory storage.
This is extremely useful in cases of dropshipping, where suppliers seek to lower the price of products by selling them in large quantities to wholesale and retail clients.
Independent Pricing For Shipping Options
One clear benefit of the Multi-Vendor Marketplace Extension for Magento 2 is the ability of suppliers to track and control the shipping of their products.
If this option is enabled by the site admin, sellers will be able to define their shipping prices according to size, weight, amount of products purchased from them and other parameters which make it easier for them to ensure that their sales are indeed profitable for them.
In addition, they will be able to access thorough statistical reports on what products sell the best, who’s buying what products, where they ship, etc.
Once a purchase is made, notifications are sent to the sellers and vendors, who in turn are responsible for shipping the products.
Store Admins Get Complete Control Over Their Ecommerce Website
- Choose whether to approve or dismiss a seller from managing an account on their website, or block certain products from appearing on their website.
- Define permanent features that apply to all seller accounts, or enable each seller to customize their features independently.
- Decide what queries they want to display for each seller or buyer activity.
- Divide sellers into groups according to their products.
- Get profound statistic reports on all buyer and seller activity throughout their site, allowing them to manage their Marketplace successfully.
The Multi-Vendor Marketplace Extension for Magento 2 by CreativeMinds offers great benefits for site admins seeking to start a multi-vendor Marketplace online, as well as for vendors who wish to sell their products on a large scale eCommerce platform.
Benefits For Suppliers Include:
- Suppliers can easily add products, product descriptions, images, and metadata as well as import products in bulk using CSV files.
- Suppliers can create associated products for configurable products or use existing products
- Suppliers can preview products on the front-end before they go live
- Suppliers have the ability to add new elements to the supplier product form.
- Easily print and save shipping information according to the selected carrier’s requirements
Additional Benefits For Admins Include:
- The ability to approve or dismiss vendors from selling products on their Marketplace
- Products uploaded by vendors are pending by default, therefore all products must be approved by the site admin before they can be published online.
- Complete control over the options available to both vendors and customers
- Complete control over the way products are displayed online
- Ability to divide vendors and products into specific shop categories
- All of the dropshipping is managed solely by the vendors and is under their own responsibility
- Regular reports and statistics on orders made online
- Ability to limit and track all eCommerce activity
- Exclusive access to the admin control panel
Benefits for Vendors Selling Their Products:
- The ability to edit, preview, activate and deactivate products from the front end, without having to log into the admin panel
- Manage orders, pricing, and shipping arrangements independently of one another
- Complete control over shipping prices, ensuring that sales are profitable for both vendors and customers
- Create, update, manage and track products of any type like digital products
- Ability to create a chain of supply for the purpose of dropshipping
- Ability to track and control shipments via the vendor interface
- Track sales with detailed reports for your products
Conclusion
There are many benefits to using the Multi-Vendor marketplace extension for Magento 2. This with extension it’s easy to create a niche online marketplace without keeping inventory.
It’s possible to set vendor sales fee and offer custom commission rates for individual sellers if you want.
There are multiple options for admin moderation, like approving multiple seller profiles, shipping arrangements, product information, and supplier capabilities.
it’s easy to receive detailed sales reports and filter the results by categories, suppliers, customer groups and more.
With the multi-vendor marketplace there is a completely unified cart system that processes all payments and pays vendors both manually and automatically.
With the multi-vendor marketplace there is a completely unified cart system that processes all payments and pays vendors both manually and automatically.
The Multi-Vendor Marketplace for Magento 2 is beneficial for suppliers, vendors and website admin to see online business success. From inventory to shipping to billing to reports, this extension provides helpful and organized insights to keep business running smoothly.
