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Essential Features of a Multi-Vendor Marketplace

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There is extensive competition in the eCommerce sector, and various multi-vendor marketplaces such as Amazon, Walmart, and Alibaba are already thriving in it. In this case, if you are a business that wants to build a successful multi-vendor marketplace, the first thing you need to do is to add some essential features to it. If you’re thinking about how these features will be added, then the solution is to hire a professional eCommerce development company. They can even add custom features on top of essential ones to extend the functionality. 

Understanding the Features of a Multi-Vendor Marketplace

We will divide the features for vendors, users, and the admin. Let us discuss them in detail:

Features for Vendors

  • Registration and Personalized Vendor Panel

This is one of the most important features for a multi-vendor marketplace as it will allow vendors to get registered on your marketplace by providing their details and establishing their shop. Once registered, they can begin listing their products and can come back later to log in to the vendor panel, manage products, and facilitate orders. Also, note that the panel should be personalized to create an enhanced experience for the vendors.

  • Push Notifications

Push notifications should not be limited to end users. Instead, the vendors should also get ongoing updates in the name of push notifications to have real-time updates on when an order is placed for their products and when it is delivered. The firm you hire for eCommerce development services will add this feature to the marketplace portal.

  • Real-Time Inventory Updates

A vendor should be provided with real-time updates on inventory status to keep track of product availability at delivery time.

  • Product Listing and Feature Information

This is another crucial feature as it will enable the vendors to add their products to the marketplace portal and provide detailed information such as features, product images, specifications, and brief information about themselves for transparency.

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  • Automated Payment Withdrawal

While vendors are listing their products on your platform, they will expect automated payment retrieval once the users make a payment. Add this feature to the marketplace for smooth payment processing to vendors.

Features for Users

  • Login / Sign-Up

Provide users with an easy login and sign-up process should be delivered to the user. Also, the user account includes various sensitive information like eWallet, personal details, etc., which needs protection via two-factor authentication.

  • User-friendly Interface and Checkout

The UI of your eCommerce marketplace should be easy to navigate and allow the users to easily locate multiple products as per their preference. Also include a custom checkout process within your marketplace to enable them to make purchases quickly.

  • Order Placement

Since customers view multiple products on the multi-vendor marketplace, they may also prefer to buy multiple products that are available from numerous vendors. For example, they might prefer to buy a pair of shoes from Vendor A and a pair of jeans from Vendor B. Therefore, they should have the ability to combine numerous products from various vendors and place one single order for them.

  • Real-time Order Tracking

Order tracking feature is important as it helps improve the customer experience and build trust. Thus, your multi-vendor eCommerce marketplace should integrate GPS tracking ability to allow users to track their order’s live location and status in real-time.

  • Payment Setup

For smooth payment processing, add multiple payment options, such as digital wallets, credit/debit cards, net banking, cash on delivery, and Buy Now Pay Later.

  • Push Notifications

Add a push notification feature to send regular alerts to your existing and potential customers and keep your brand’s name in their subconscious mind. Remind them of new deals, discounts, and upcoming sales, which will encourage them to shop and make a purchase.

Also read Why is Customization Essential in eCommerce Development for Enterprise Solutions?

Features for Admin

  • Vendor Onboarding Panel

The admin will collect the necessary information and documents from the sellers to onboard them as vendors in their marketplace store. After successful onboarding, these vendors can begin conducting online business.

  • Customized Admin Dashboard

Include a customized admin dashboard that will include all the necessary information about the vendors and their products, including product/vendor category, product view, offers listed, etc., as well as the customers once they sign up with the portal.

  • Inventory Management

Admin should be able to track the inventory status in real-time to manage operations efficiently and minimize the chances of understocking or overstocking. The firm you hire for eCommerce development services will add inventory management tools within your marketplace backend for effective management.

  • Reports and Data Analytics

Data is a valuable aspect of a multi-vendor eCommerce marketplace. Integrate reporting and analytics features within the dashboard to analyze sales reports, monitor customers’ purchase behavior for better product recommendations, and predict customer demands to ensure inventory can meet that demand.

Conclusion

To build a success-driven online marketplace and thrive in the eCommerce sector, you must add the essential features we shared above. For a detailed consultation, contact a reliable eCommerce development company. They will provide end-to-end consultation and build a custom store for your business.

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