What is a multi-vendor market place?
Multi-vendor market place is a site or a place where multiple sellers can sell thousands of products on a single platform. The customers can choose various products from available product catalogues and subsequently compare their features, prices, and ratings, read user reviewsbefore deciding which one to buy. Sellers can manage their orders from the front-end and customize their stores with various elements, add tracking and shipping information with their orders.
Admin has various options to control the marketplace. He has full privileges to providecustomised commission rates for the sellers to manage their products, orders and inventory. Administrators can also manage reviews while customising various transactional emails.
How to create multi-vendor eCommerce?
One of the most important things to remember while creating a multi vendor marketplace is to make it a global force in the market which takes years. One has to focus on the diverse aspects of the business.
Nowadays, modern technologies are available to help you in building a quality market place website.
Few areas which need to be explored while building a market place are listed below:
- Market Research: For creating multi-vendor eCommerce, analysis of target audience, along with a clear understanding of their needs is required. Finding products that would be useful for them is absolutely must. You need to sell products that cater to the targeted age groups to increase your sales.
- Search a domain name that audience would connect with: Domain name is going to be your future address for the website and will be the only thing with which the customers will remain familiar. Few things have to be considered while selecting a domain name for the marketplace such as the following:
- The domain name has to be short and easy to remember.
- Never opt for a popular domain name, it may lead to trademark issues.
- .COM extension should be used. .com extensions have global presence.
- Getting a domain name for multi-vendor marketplace website: GoDaddy, DYN, Iwantmyname are some popular options for getting a domain name. GoDaddy is a very famous domain registration company and it manages many domain names. It is popular as it offers reasonable pricing optionsto its customers.
- Deploy robust server for site hosting: The site needs to be robust to easily cater to the requirements of visitors from diverse groups. To create a multi-vendor site, one has to be careful while selecting the right server and make sure it is robust to handle erratic traffic. Cloud hosting lets its users access the network of servers that are located at remote locations on the internet to manage data and store.
By deploying a robust server, you can save money and space that are spent on installing hardware servers. The cloud servers are very quick and simple to set up. They can automatically adapt themselves to handle any amount of traffic to prevent down time issues.
Cloud servers enable the user to access data anytime, anywhere, only if they have an internet connection.
- Make use of ready-made scripts: Use ready-made scripts to create a multi-vendor market place. The ready-made scripts can help in building a multi seller market place website within few hours. The scripts are customizable i.e., they can be tweaked in terms of design and features. The scripts are clones of top eCommerce websites and they have great features which are prospective for vendors, customers and market place owners. Extra features can also be incorporated in these scripts.
The multi-vendor scripts are developed to be SEO friendly and they improve the marketplace site ranking. The turnkey scripts developed by Shopygen perfectly fit into the scheme of things.
- Launch the marketplace website worldwide: Launch the marketplace website in such a way that it reaches out to your prospective customers. Few ways in which it can be advertised are by television ads, radio advertising, by adding billboards, print adverts, telemarketing, email marketing, by pamphlets and signs or by using business cards.
- Build trust factor for the marketplace website: Provide the customers with a realistic shopping experience and the contents of the site will help with it. The products in the multi vendor marketplace website have to be well explained. They can be explained with the help of videos and images or by textual content. Ask the customers to send reviews for the product on the marketplace. As a matter of fact, many customers purchase the product based on customer reviews.
- Target on improving traffic influx: Once the marketplace website is loaded with vendors and products, next target is getting more number of visitors to the site. Using the online marketing techniques, this can be done without much investment. Such techniques include:
- Search Engine Optimization: A result driven technique that can improve traffic influx. You need to hire a search engine optimizer who can enhance the site rankings. They research the keywords and analyze the competitors to improve site’s search engine ranking.
- Social Media: Social media can be resourceful for promoting the products. Create and update an official page for the site and keep posting all the mile stones and latest enhancements in the business.
- Email marketing: Bysending newsletters to the customers for keeping them posted about the latest deals and new product arrivals, you can impress the customers in a better way.
What is ShopyGen?
It offers a reliable eCommerce turnkey solutions for the marketplace business. This is a right destination to launch one’s own eCommerce marketplace platform. To create a multi-vendor marketplace like eBay, Etsy using Shopygen, you need to remember two important things:
ShopyGen can be used for creating a simple eCommerce website for local business or for global marketplace business.
What is Etsy clone?
Etsy clone script helps to get the most powerful multi-vendor marketplace script which lets to start an own peer to peer eCommerce marketplace like Etsy. They are completely customizable, having a responsive design with unlimited product posting and free support, maintenance and installation.
- Responsive Design: The script is coded in MySQL and PHP 5 with responsive design. There is no requirement of a third party installation such as WordPress.
- Robust Platform: The Etsy clone script is a robust, scalable, user-friendly and scalable script. The Etsy script comes with SQL injection of free coding that secures data from robotic and automatic programs.
- Custom or Readymade: The clone is enriched with required features to build the best clone website. A custom development solution is provided for the business model even if it does not match with it to get a crowdfunding platform.
- Feature rich and cost effective: The script comes with an advanced feature that enables to quickly develop a product with cost effective rates.
- Inbuilt marketing & SEO: The script has SEO friendly coding structure and an inbuilt on page SEO marketing module to help the website gain high visibility over the major search engine easily.
- Free maintenance and support: The script provides a one stop solution with a year support design, deployment, and development.
Etsy is a leading multi-vendor online marketplace and is the most popular one which allows one to sell the vintage or handmade products. Websites can get this successful online concept to introduce feature rich customized clone scriptwhich is developed by e-commerce experts. The script allows developing a highly customizable marketplace platform with productive features.
Etsy clone script provides a robust, scalable and user-friendly platform that can be used to manage buyers and vendors. This eCommerce script fulfils custom design or niche business model by incorporating all functionality requirements.
How to build multi vendor marketplace like eBay?
EBay is an American based multinational eCommerce company that has got high esteem for its consumer sales that are a consumer to consumer sales or business to consumer sales. EBay sales purely work through the internet and if you are looking to setup an online auction website like it, a stronger consumer reach is needed.
Auction website runs on the concept of auction where selling of services and goods is based on the highest placed bid. Bids are small and simple incremental amounts added to the current selling price of the product. Aconsumer who places the maximum bid in the whole process before the timer reaches zero is declared as the owner of that particular product.
Auction administrators manage and maintain the auction websites and ensure a seamless experience to the users who are in a process of auction. The website scripts are written in PHP. The following are the functions of an auction website script.
- Should be generating auctions instantly
- Show auction members and their placed bids
- Able to resolve any unforeseen issues
- Record the whole auction process
Some of the features which make the auction website script very useful are discussed below:
- Admin panel Features:
- Auction Management: The feature allows the admin to manage scheduled auctions or ongoing auctions.
- Bid Management: Allows the admin of auction website script to allow to define a minimum bid amount.
- Layout Management: Admins can manage the layout by adding their own layouts and customize accordingly.
- Secured auction website script: Allows the admin to ban an IP address of a dubious client for precluding malicious attack.
- Newsletters: Can allow the user to subscribe tonewsletters to keep them informed.
- Source code: The admin can make changes to source code and customize the same.
- User Panel Features:
- Bidding management: Users participating in the auction can learn about items won, current bids, favorite items, viewed items, favorite stores, invoices received and acknowledged.
- Registration: Allows the user through a user-friendly process and confirmation will be sent to the email.
- Communication: Facilitate communication among the members involved in the ongoing auction.
- Selling activity: Sellers can manage selling activities and periodically track the same. This improves the rapport with customers and takes the business to better level.
- Design: User can set a dedicated space to view the bidding and auction in their devices.
- Manuals: Live demo manuals in PDF and HTML documents have to be furnished in the website script.
How to Use the Best Marketplace Software: Genstore
Genstore is an e-commerce platform that is used to create multi-vendor marketplaces like eBay, Etsy, and other e-commerce platforms. GenStore is an open source Node.js commerce platform.A multi-vendor e-commerce marketplace builds on MEAN stack (MongoDB, ExpressJs, AngularJs, and NodeJs) that has a highly scalable robust eCommerce platform with detailed documentation and quality code.
The customers can search for a product, track and place an order and get answers to all their inquiries. With a single click, all this happens inside a messenger window. However, there is no need for a manual intervention to control or manage these activities. GenStore takes automation to a new level.
Features/ Benefits of GenStore
|Manage the marketplace:||· Manages and moderates marketplace easily from the admin dashboard
· Uses Google Analytics for getting a detailed view of the marketplace.
|Administration||· Dynamic design that aids to manage everything from the back end for its user management, account management, and content management
· Everything in GenStore is automated so as to be dynamic
|Services||· GenStore supports product selling, rentals of marketplaces and has built-in availability management for bookings & rental.|
|Dispute management||· Handles all the disputes easily between the seller and the user regarding payment and other issues.|
|Marketplace niches||· GenStore has two different marketplace niches on single software that gives the sellers the option to sell both physical and digital products, according to the type of product.|
|Dashboard||· A separate dashboard is maintained to manage the products and orders.
· To manage profile, uploads products and its approval status, order and shipping status from responsive seller dashboard.
|Revenue||· Multiple revenue channels are offered.
· Seller subscription, banner ads, prime delivery options, commission percentage against each sale are arranged and much more to generate easy revenues.
For an instance, when a customer visits a multi-vendor site, they may pick an item from one company and another product from some other company, both the products are processed through the same shopping cart. A multi-vendor website payment processing system helps in dividing the payments behind the two vendors which are on a single website.
GenStore can help you create a multi-vendor marketplace with a multivendor extension which offers a separate seller profile for the vendors to log and manage the content. The seller can thereby modify various contents in the profile such as images, logos, product collections and other social network links. These extensions help to provide different commissions to every product and vendor.
If you have any doubts or concerns, feel free to drop a line or two in the comments section. I shall reply in a day or two. Keep watching this space to know more about multivendor marketplace software. Subscribe to our newsletter to keep yourself abreast of best eCommerce shopping carts and start-up ideas. Our best wishes are with you and your online venture. Cheers!