Top 3 Multi-Vendor Marketplace Extensions in 2020

Those days are gone for outsourcing the eCommerce development project right from scratch at the coding level. Now the scenario is different, if you want to build an eCommerce marketplace or an online marketplace, you simply need to choose ready-made solutions.

One such solution name in the market is a multi-vendor marketplace solution.

What is an Online Multi-Vendor Marketplace Software?

As said before, a Multi-vendor extension is a great solution that anyone who is interested can make use of to create an online marketplace website or mobile eCommerce application. This solution skips the basic functionality builds and developmental cost with support for multiple vendors to sell on it.

Simply, they are the eCommerce solution for multi-vendor marketplace development.

Silent features of Multi-Vendor Marketplace Softwares

An online marketplace solution must offer features that suit many eCommerce, business models.

So just making use of such eCommerce solution for setting-up marketplace websites:

› Vendors:

Must support on-boarding of third-party merchants as sellers on the platform

› Dashboard:

Must offer sellers with their dedicated dashboard on the front-end of the platform

› Products:

Must allow sellers to upload and manage their product listings and orders

› Tracking:

Must allow the admin to keep a track of every third-party seller on the platform

› Revenue:

A commission management system to bring revenue to the marketplace owner

› Analytics:

Must allow admin to keep a track of earning-analytics for every seller

› Earning:

Every seller must be able to track his or her earning analytics

› Payments:

Admin must get easier ways to transfer seller earnings respectively e.g. PayPal

› Communication:

A multi-channel communication system for-

Seller-to-admin

Admin-to-seller

Customer-to-admin

Customer-seller

› Review:

Customers must be able to write reviews of products or share their purchase experience

› Refund:

A refund or return management system that goes through admin to sellers from customers

› Subscription model:

A subscription management system for the admin to generate extra revenue by offering value-added benefits to the members

› Ultimate control:

Admin must have the decisive control of the platform, sellers, and its customers.

› Scalability:

Must handle numerous users, products, sellers, and third-party APIs with ease.

› Economical:

The entire purpose of a ready-made marketplace software is to reduce the overall cost of development, deployment, and maintenance of the platform.

Magento Multi-Vendor Marketplace Extension

Marketplace Multi-Vendor extension is a popular extension for Magento which turns it into a fully-functioning multi-vendor marketplace. The developer, Webkul, also offers versions of Marketplace for WordPress, Shopify, and other content management systems. We’ve chosen to highlight the Magento version because it seems to be the most robust.

Magento is open-source software but unless you’re a specially trained Magento developer or a whip-smart coder you’re going to have to invest in bringing on talent to create and publish your store.

Magento Marketplace offers a complete dashboard of its own to your vendors. This dashboard has all the options needed for a vendor to manage their products, see customer reviews, check out a wishlist, newsletter subscriptions, and more. It also includes a profile page for each vendor to display their information. This profile page also shows the customer reviews and ratings publicly.

The solution also offers a flexible commission system. It allows you to charge a different commission from each vendor depending on their products. Or, you can fix the commission structure to be the same for all vendors.

BigCommerce Multi-Marketplace

BigCommerce is a popular name in the eCommerce solutions market, but it does not offer multi-vendor solutions out of the box. Instead, it allows third-party developers to build and sell multi-vendor extensions for its platform. Popular developers like Webkul are selling multi-vendor extensions, which you can use to turn your BigCommerce store into a marketplace platform.

› Hybrid or Dedicated multi-vendor:

The Webkul extension is a dedicated multi-vendor solution for BigCommerce. However, BigCommerce is originally an inventory-based platform.

› Ease of use:

BigCommerce is one of the most user-friendly eCommerce solutions in the market.

› Customizability:

It offers limited customizability with no source code access.

› Software Delivery model:

To mention, Software as a Service is the delivery model

PrestaShop Multi-Marketplace

PrestaShop is a similar eCommerce platform to Magento and it does not support multi-vendor features out of the box. Following the same methods, you can get a PrestaShop marketplace module to introduce multi-vendor features.

› Hybrid or Dedicated multi-vendor:

PrestaShop supports a multi-seller model that been available in the extension features.

› Ease of use:

PrestaShop is comparatively, easier, and lightweight than Magento, but it’s trickier than most SaaS-based alternatives.

› Customizability:

Any skilled PrestaShop-PHP developer can customize a PrestaShop store with ease.

› Software Delivery model:

It is available both self and cloud-hosted options are available.

Wrapping Up

When aiming to answer the Top 3 Multi-vendor marketplace software in 2020 for your eCommerce business, you should consider the Magento Marketplace Solution for its largest community support and maturity in availing solutions for any multi-vendor website.

Ecommerce consultant

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