The marketplace setup is one of the easiest ways to reach out to the potential customers with a larger product range. In fact, it won't be wrong to say that in the competitive ecosystem this is the only way to survive in the industry with limited resources. Magento is one of the most popular and used platforms for starting a marketplace. The blog brings forth some of the must-have features that a Magento-based marketplace must have. Read on to know more:

Easy commission management  

The commissions charged by the e-sellers is the main source of income for the store owners. Since there are multiple vendors with whom the admin has to deal, it sometimes becomes difficult for them to manage the commission structure. Hence, the virtual marketplace should offer an easy medium for commission tracking and management. Knowband’s Magento multi vendor marketplace extension is one of the ways that enables the admin to enable the multi-seller functionality and fix the commission just a few button clicks. The admin can even view the total earnings and the pending amounts of the sellers.

SEO-friendly interface for the e-sellers 

SEO is one of the most important aspects when it comes to marketing. Hence, the marketplace should provide an SEO-friendly environment to the sellers, so that, they can promote their products and profiles with ease. Magento marketplace extension even ensures this. The sellers get an option to add SEO-friendly URL. In addition, they can even add their social links and promotional banners for better promotion.

Ease of seller registration and profile tracking 

Getting customers and sellers for your marketplace is kind of chicken-egg problem. However, the wide range of products motivates the customers to shop from your site. For this, you need to attract more sellers. Thus, making the registration process is a must. Even the tracking of the sellers’ profile should be effortless for the store admin. Magento multi seller marketplace extension makes the entire process of profile approval easier for the admin.

Real-time notification for the sellers 

The admin should make sure that the sellers are notified about the various activities of the site. The Magento marketplace module offers a number of default email templates that make it easier for the store admin to send notifications to the sellers via email.

Simple transaction for the sellers 

The admin needs to make sure that online trading is effortless for the marketplace sellers. The Magento multi vendor marketplace module provides a separate dashboard to the sellers for tracking and managing their inventory and orders.

Invoice management 

There are chances that the customers will add the products of the different sellers in their cart and place the order. Hence, the different invoice should be created for the different vendors. Magento multi vendor marketplace plugin does the same for you. The customers get one invoice for the order while different invoice is generated for the different sellers.

Magento Mobile app builder

Marketplace admin can allow the users to view the functionality of the Marketplace at their fingertips. Magento Marketplace extension is now compatible with Magento Marketplace mobile app builder. Seller list with their products can be viewed from the Marketplace section of the mobile app. Mobile app compatible with the Marketplace allows the user to write and view the seller review from the product page and product listing page of the app.

Over to you 

If you are looking to create a virtual marketplace, then, making online trading effortless both for the sellers as well as customers is a must. Along with the basic points mentioned above, make sure that keep on upgrading your site as per their requirement.

For further information on Magento Multi-vendor Marketplace Module, please refer to the following links:

Magento Multi vendor Marketplace Extension User Manual

Magento Multi seller Marketplace module the admin Demo

Magento Multi vendor Marketplace Plugin Front Demo

Magento Multi seller Marketplace module Video