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Month: July 2020

Introduction about Multi Vendor Marketplace

Introduction about Multi Vendor Marketplace

Thinking about the multi-vendor marketplaces where a large number of buyers and sellers can connect with each other easily for business purpose, we usually think about the large-scale business sites like Amazon, Daraz, and Ali-baba etc.

Yes, business to business marketplaces are based on the same schema but the management of the vendors is an important thing if one wants to launch their own marketplace these things must be kept in mind.

Accompanying the vendors:

There should be an easy platform for the vendor to sign up on the specific platform and the registration should be step by step and easy to understand without facing any sort of difficulty even if the registration is one-time.

The vendors must be able to access the platform right away when the registration is being completed and the vendor should be able to operate the platform completely and easily.

There is an automatic and validation free operations on the big marketplaces like Amazon and Ali-baba which is a quiet satisfying experience.

Sharing of login and password is not a secure way. Several persons take part in the sales service of a company at a time. Therefore, if the vendor creates the account it represents the company.

Multi-vendor marketplaces also offer team management so that the team members can create sub-accounts to access for each for the same company and also able to communicate with each other and manage the sales on their own.

For instance, vendors can divide their work by managing the account that they can divide the products and do not interfere in managing each other products.

Make vendor apprehend the solution:

There are some training sessions in multi-vending marketplaces for the vendors in order to understand the platform in the start and it offers an easy to use interface for the vendors so they can have their space for using it freely.

The advantages of multi-vendors marketplace PrestaShop marketplace module (multi-vendors) for vendors for their convenience is as follows:

  •  Easy to manage and create products.
  •  Tools available for problem solutions. The system is fully integrated in such platform and present in case if help needed.

Platform Competition:

Competition between vendors is tough on the multi-vending platforms because these sites allow all the users to rate the products of users so the customers are able to see the ratings of all the users about their product quality. That’s why these things also encourage the sellers as well when they get a good feedback about their products and they increase the stock.

Charging seller fees:

The profitable marketplace environment must be created so that the vendor must be able to gain his profit and should also be able to gain the fees for the platform so the commissions must be accordingly. The platform should also be fair with the vendors so that he does not run away for the other solutions.

Commission on the sales is defined in advance as well as the fees on discounted products.

There should be reasonable fees for the vendors so that they do not get exhausted.

Attract new vendors:

To attract more vendors on the platform there should be easy to understand platform so that the new vendors do not feel any difficulty in the environment provided for them to use their account.

Some advantages are mentioned below:

  • More visible
  • New opportunities to sell products.
  • Every step of the selling is defined.