In today’s digital world, the popularity and importance of eCommerce stores or websites have reached their peak.
Especially in this pandemic of a deadly virus, people prefer to shop online instead of going to the store and purchasing things. You can get every essential and needy thing online by sitting at your home.
In this generation of eCommerce, buyers have thousands of options for the product and hundreds of platforms from where they can shop.
Magento web development company is developing more and more eCommerce stores to provide more advanced facilities to the buyers.
As the eCommerce stores increase, the sellers who are willing to take their shop online are also involved in this multi-vendor platform.
In this blog, you will come to know about the multi-vendor app development and it will also solve your doubt on how to get your Marketplace App.
Many multi-vendor marketplace mobile apps exist and are famous among the buyers who regularly shop from such apps. Nevina Infotech is a company that can provide you Magento development services for developing a marketplace app.
What is a marketplace?
The marketplace is a term that represents an online store where a user can buy the product or things they want, and the sellers can sell their products to the buyers who wish to buy their products.
Marketplace app provides transparency to the buyers and sellers to buy and sell their products to the buyers who want them.
Because of this reason, the number of marketplace apps is growing gradually. For example, a Magento development company is considering developing and developing a Marketplace platform to recommend buyers to vendors and provide the facility to exchange goods.
What is a multi-vendor eCommerce website?
A multi-vendor eCommerce platform is a website that features multi-vendors, each having an individual account on a similar store.
Many popular websites such as eBay, Etsy, Amazon, and many other platforms have become popular and famous ways to buy and sell products digitally.
As the name tells, a multi-vendor eCommerce website is a platform for third-party sellers to sell their products in one place. It is a big platform that has hundreds of stores in it and also handles it.
You can hire a Magento certified developer to develop your multi-vendor eCommerce website.
Features of the multi-vendor app
This multi-vendor marketplace mobile app features can be further divided into three sections
- Admin features
- Vendor features
- Customer features
- Manage vendors
One can access multi-vendors with the exclusive Magento 2 marketplace store and efficiently manage every individual vendor completely. It will also Manage the eCommerce Store for Marketers.
The buyers can easily monitor the performance and response of the vendor. They can also give additional support to the vendors who want to take advantage of their work with the marketplace extension.
- Commission management
This feature will allow setting commission fees and the percentage as per your business model and implement it with the Magento 2 development module. Users can also set tax calculations, and the invoices generated through this marketplace extension will include tax.
- Vendor payout
Systematically transfers the vendor payment successfully and carefully to every vendor in your multi-vendor marketplace. It also lets the Magento 2 expansion calculate the vendor payment automatically on its own as the commission percentage is fixed and can be done successfully.
- Tax management
Vendors can set the tax percentage for every product and the value that is reflected in the invoice which is generated through the Magento 2 extension. Here, the admins will view all invoices and quickly get clear reports on the products sold on the multi-vendor marketplace website.
- Product approval
In this feature, the admin gets complete control over the product approval. Banned products won’t be sold on any of the marketplaces websites. The admins will reject those products before they get displayed in the store of the Magento 2 extension.
- Manage withdrawals request
This feature allows vendors to withdraw their payments in an error-free manner. Get all the requests from them, clear them immediately, and let your vendors benefit by combining them with the Magento 2 website.
- Payment methods
Get stable payment methods that will efficiently help to handle the payments received through the Magento 2 multi-vendor marketplace mobile app. In addition, with appropriate analytics and reports, one can monitor all the transactions done on the marketplace website.
- Vendor storefront:
A malleable storefront feature is highly expected by each vendor associated with the Magento 2 marketplace website. The marketplace expansion should provide complete clarity to the vendors and access them to handle Magento 2 website easily.
- Vendor dashboard:
A committed dashboard is directly provided to each vendor in the Magento 2 development module. Because of this dashboard, the buyers can get the proper view and knowledge of order summary, sales, revenue generated, expenses and profit made through this marketplace extension, and many more.
- Vendor product upload:
This feature provides facility to your vendors in the Magento 2 marketplace expansion in simplifying products in bulk and saving time. It also allows increasing their productivity in the marketplace website.
- Vendor catalog management:
This feature allows all the vendors to easily categorize their products and display them correctly with the analogous catalog in the Magento 2 multi-vendor marketplace. This will profit them with more conversion as the customers will make it easy to find and figure out the product they want on the marketplace website.
- Vendor order management:
Using this feature, capable order management is made simple with this Magento 2 module. As a result, all the orders received from the customers are adequately assigned to deliver, and we can assure that the delivery will be on time through our multi-vendor marketplace mobile app.
- Vendor rating and review:
This feature also allows vendors to view and go through the ratings and reviews from their customers who have bought their products. Vendors can quickly get to know their product quality and the exact value of the services they provide to customers through the Magento 2 marketplace website and boost their performance, improving your marketplace expansion.
- Generate and print shipping labels:
This feature will allow vendors to design and develop labels that can be used while delivering their products through the Magento 2 marketplace store. In addition, this will help the vendors to improve their labeling and branding on marketplace websites.
- Ratings and reviews
To provide facilities to other customers for trustable shopping, regarding the brand experience, the product buyers can give ratings and reviews about the vendor and the product. Enhance your marketplace website credits by giving access to your customers to share and give their opinion for the latest purchase they made through the eCommerce website. This will increase brand recognition, and you will get more traffic on your eCommerce store.
This feature will help the customers add the products to their wishlist if they wish to buy the product later. In addition, customers are allowed to edit or delete the wishlist if they want to. This will help the marketplace to improve sales. In addition, it will provide a facility for the customers to add their favorite product to the wishlist that will be available on our website.
- Mobile app
Get updated with our mobile app that will attract all the targeted mobile users. The eCommerce store will support both Android and iOS. One can expect high traffic and increase sales with our multi-vendor marketplace mobile app’s vigorous mobile app.
- Social login
This feature allows you to utilize the outstanding benefits of getting connected with the social media platforms that can help you gain more customers to your eCommerce website. With the help of this, you can quickly gain high brand visibility as your targeted audience will be available on any social media platform.
- Pricing comparison
This feature will let the customers avail themselves of the price comparison benefit in our Magento 2 multi-vendor marketplace mobile app and allow them to buy a more comfortable product. This will increase your marketplace website reputation, and you can achieve more customers.
Benefits of multi-vendor app
- Responsive and mobile-friendly multi-vendor platform
- Multilingual and multi-currency support
- SEO friendly
- Fast speed
- Multi-pricing create an account for unlimited sellers
- Capable of handling multiple orders
- Best price and product guarantee
What makes it unique?
- Curated themes and extensions
Other than different eCommerce platforms, Magento mainly focuses on consumer requirements and assures they have a seamless and secure shopping experience. From advancing the website for a fantastic user experience and simple browsing to safe and secure payment gateways to convince customer support, Magento provides all the vital aspects of eCommerce because of the wide variety of themes and extensions available on the marketplace.
- Superior quality
One of the perfect reasons that make Magento 2 the leading marketplace and a trustable choice among the users is the augmented quality control. To comply with the business protocols and ultimate quality, the extensions can go through a 3-way extension process.
Later, the Magento architecture is designed so that it can smoothly integrate with any extension with proper documents while fulfilling the current quality standards.
- Reviews and ratings
Customer reviews and ratings play a vital role when it comes to sales points of view. They have a massive impact in expanding the sales and revenue, and Magento understands this better. As a result, the marketplace offers an improved, effective rating platform that is helping to check the most related product review that helps with sales and profits.
- Search and dashboard
Although an eCommerce store or website is a host for some functionalities, search, and dashboard lists, innate product categorization and collection make searching for products a lot easier and faster. But, on the other hand, it centralizes all the order, purchase, shipment, or payment-related processes.
Cost to develop a multi-vendor marketplace app
It is an ordinary task to determine the exact cost of developing a multi-vendor marketplace mobile app because the cost is not fixed; it depends upon the needs and requirements.
The cost of any of the marketplace and other eCommerce applications depends on the number of features and the total time required to develop the eCommerce application by a Marketplace app developer.
Depending on the full features and functions, we can calculate the cost as given below:
Cost according to different countries:
- The cost in Eastern Europe can be – $50 – $100 per hour
- In the U.S. – $80 – $150 per hour
- For the U.K. the cost of developing a multi-vendor app is – $100 – $200 per hour
- Multi-vendor app development cost in India is – $50 – $80 per hour
Custom Magento 2 multi-vendor app is used for developing an eCommerce platform for selling and buying purposes. Some business owners hire a Magento developer for eCommerce app development. A multi-vendor marketplace app is essential and must-have if you have your own business, especially startup ones.
This blog will get complete information on the features, benefits, and costs of retail eCommerce web mobile app development. If you are willing to develop your marketplace mobile app, you can go through this blog before developing any marketplace app.
You can contact Nevina Infotech, the best Magento development company in India, which can help you develop a multi-vendor eCommerce mobile app. We have a team of dedicated and well-trained developers.
What is multi-vendor app development?
It is a type of eCommerce platform that supports multi-vendor functionality, and the buyers can buy the products they want from multiple vendors.
What is the cost of developing a multi-vendor app?
It is challenging to say the cost of developing a multi-vendor app because it depends on the business owner to which features and facilities are in their app. The cost can vary depending upon the features of the app. But for your information, we have tried to figure out the approximate cost of developing the eCommerce app mentioned in the blog above.
How to implement a multi-vendor app?
Developing a Magento 2 multi-vendor app is not a challenging task to perform, and to implement the app you need to follow the simple steps given below:
- Get a checklist
- Set the account
- Manage profile
- Develop and submit extensions
- Manage sales
How to launch a multi-vendor app?
Here are the simple steps to follow for launching the multi-vendor app:
- Add multiple vendors
- Add multiple products
- Order management
- Manage vendors
- Separate shop page for each vendor
- Track the sales stats