If you look out the market, I believe that you can make a list of the established names in the online shopping market such as Amazon, eBay, Flipkart, etc. They have done a lot of credible things in the multivendor marketplace. Now, the multivendor marketplace is developed to become an extension that will charge the vendors in exchange for this service.
The differences between multivendor marketplace and Ecommerce stores
With this model, there are only two parties taking part in this model: store owners and buyers. The store owner will sell products and services for the buyer. The administrator has full right to add, delete and manage products on the store and they will collect sale revenue directly from sales.
Multivendor marketplace store
This model seems to be more crowded than Ecommerce store. We have store owners and other sellers, they will be the party selling products and services for buyers. Adding, deleting and managing products will not be the only right of administrators, other sellers will be also able to do. The end part is different. Like e-commerce, the administrator can only collect revenues. In the multivendor marketplace, there will be a balance called commission deduced after that revenue is given to the particular seller.
All featured provided by Magento 2 multistore:
- Vendor group: It allows you to create groups of vendors depending on their commissions. For example, my marketplace is divided into a gold, silver, platinum or normal group for each level commission of vendors.
- Vendor dashboard management: It will provide an overlook about the business to vendors about their stores in terms of credit amount, sales information, last few orders, last some transactions, some reviews etc.
- Vendor product management: you can consider it as a product management panel. Sellers on your marketplace can view, add, delete or edit product information. However, I want to emphasize that those changes need to be approved by admin. Only when receiving approval from an admin, those changes start reflecting on the portal.
- Review and Rating Management: The more good reviews from customers, the more sales you will earn. Admin can set the option for the buyer for posting review.
- Checkout At Once: The customer can purchase the product from various sellers at once. Buyer can also see the vendor name at the cart.
- Separate Seller Profile with Company Banner and Company Logo.
- Multi-language support: this is the huge benefit from Magento 2 multistore, participants on market do not have to be profound in one language, they can choose the suitable language freely.
- Marketplace Transactional Emails: Admin can create custom transactional emails from the back-end. For creating a custom transactional email template, the admin will navigate System and then Transactional Email and then create a new template. Admin will enter Name of the template, locate and enter template information like name, subject, content.
- Upgrade support feature: Regarding performance, it can be about the speed of an application, about new arrival of the scheme, or any other things which need enhancement. Upgrade support feature ensures that vendor stays and progress in the competition.
- Marketplace with Attractive landing page: A clean and modern landing page always attracts the attention, which helps in increasing the UI/UX and quality experience, thus resulting in the conversion of visitors to customers. With landing page, you can see the top 4 sellers of the marketplace, with their top selling products, Seller logo, Shop Title, and a button to redirect to view the full collection of the seller.