Ability to provide shoppers with a wider range of goods and services can help to bring your online business to the next level. That’s why lately marketplace concept is gaining popularity among ecommerce business owners. By turning your online store into a marketplace, you allow multiple sellers to offer their goods from one place. If you want to leverage the full potential of running a multi-vendor online shop on your Magento 2 site, pay attention to the Multi Vendor Marketplace extension by Amasty. The Magento 2 module enables store owners to set up a fully-fledged marketplace with multiple sellers. With the tools provided by the Amasty extension, both admins and vendors get advanced possibilities for monitoring sales-related data and managing orders.
Below, we explore the advantages of establishing a multi-vendor marketplace on a Magento 2 website and look closer at the features offered by the Amasty marketplace module.
Multi-vendor marketplace represents an ecommerce business model where various merchants sell their products or services on a single online platform. Another party involved is an owner of the platform that manages a website and gets a commission for the vendors’ sales. The most well-known examples of multi-channel websites are Amazon, eBay, Qbids, and Craigslist. Though the mentioned sites implement a slightly different approach to a multi-vendor business, all of them provide third-party merchants with a platform for promoting and selling their goods and services.
As an owner of a multi-vendor ecommerce site, you get particular advantages. For example, you don’t need to spend time and money on creating your stock of products, managing warehouses, and handling shipping. Vendors, in their turn, benefit from the availability of a ready-made platform to sell their products. Thus, they can start their online business without building and maintaining a separate website.
If you are running your ecommerce site on Magento 2, you can also convert your online shop into a multi-vendor market by installing a third-party module with relevant functionality. An appropriate tool will let you set up a multi-seller business model and generate more profit without the need to manage inventory and logistics. The availability of a wide selection of products from different sellers drastically improves the shopping experience and creates loyalty to an online store. On a multi-vendor site, online shoppers can find the goods of the desired brand and style with more ease, which also increases engagement rates.
The Amasty Multi Vendor Marketplace extension offers Magento 2 merchants comprehensive tools for setting a multi-channel business. Further, we shed light on the core functions of the Magento 2 marketplace module.
Amasty Magento 2 Multi Vendor Marketplace Extension: Features
- Possibility to add multiple vendors to a Magento 2 store;
- Convenient management of sellers data in the backend;
- Automatic approval of vendors’ requests, products, and orders;
- Admin dashboard for tracking vendors activity;
- Separate page for vendor registration;
- Dedicated page for each seller on the frontend;
- Vendor-specific URLs;
- Support for all product types;
- Order management by vendors;
- Personal vendor dashboard;
- Flexible management of commissions and withdrawals.
As we’ve mentioned above, Multi Vendor Marketplace by Amasty provides necessary settings for building an online shopping mall with multiple sellers on a Magento 2 store. The module enables merchants to turn their websites into an ecommerce platform showcasing goods of various vendors.
With the Amasty extension, you can add an unlimited number of sellers to your store and manage them on a separate grid. As a store owner, you decide which vendor requests to approve. It is possible to accept new requests and products added to the sellers’ accounts automatically, as well as manually. By setting an automated approval system, you can significantly decrease workload related to routine admin tasks. Also, you get control over the vendors’ data and can quickly modify it if necessary. Besides, store managers can enable or disable merchants’ profiles and control vendors’ activity on a special dashboard.
After installing the Magento 2 marketplace module, you can provide every vendor with a separate page where they can promote and sell their goods. A merchant can set a unique URL for his personal page, adding a brand name or any keyword to make his profile better recognizable. On the page, sellers can provide customers with the products listing, description of their products, contact details, and any other information they find necessary to add. Also, it is possible to add links to social media accounts and display a brand logo. Moreover, the Amasty multi-vendor marketplace extension allows sellers to add products of any type, i.e., simple, configurable, downloadable, virtual, grouped, and bundle products.
The Magento 2 module provides online vendors with individual dashboards for monitoring their sales statistics. On the dedicated panel, users can check important sales-related data, including recent orders, income, payouts, balance, and more. As a store manager, you can enable your sales partners to manage their orders and generate invoices and shipments on their own.
Furthermore, store admins get flexible settings for managing vendors’ commissions. All relevant details are displayed on a separate dashboard. The extension allows setting commission percentage globally or individually for each merchant. With the Amasty Multi Vendor Marketplace extension, you can also manage withdrawal payments in the most convenient way. It is possible to set a default payment method applicable to all transactions, as well as define a withdrawal option per vendor.
Amasty Multi Vendor Marketplace for Magento 2 is a great tool for converting an online store to an ecommerce marketplace with multiple sellers. The extension offers flexible settings allowing admin users to fine-tune all options in line with a particular business strategy and save time on some routine tasks. This way, you can quickly build a multi-vendor market on your store and enhance customers experience by providing them with an extended product catalog. Thus, the module helps store owners to boost sales and gain customer trust.
Note that the Amasty Multi Vendor Marketplace Magento 2 extension is currently in development. Follow the link below not to miss the latest news on the module’s release.'