It has been sometime since e-commerce has become the game-changer for many businesses. It was followed by a deluge of various platforms aspiring to provide better possibilities, opportunities, innovations and user experience on any online marketplace.
Magento was born with the purpose to deliver exemplary levels of customization and usability to all parties concerned. However, it has led to fiercer competition. Magento provides more than what the users could ask for. To put things into perspective, the year on year increase in the number of users, is a testimonial to the force that Magento has become in the e-commerce business.
To take complete advantage of the powerful and robust platform, the multi-vendor marketplace extension is the way to tread on. There are tons of benefits that make the multi-vendor extension for Magento an exceptional addition to your marketplace. When coupled with the platform, it imparts the marketplace exceptional flexibility, multi-vendor management capabilities and seamless opportunities for expansion and business growth. A multi-vendor extension allows marketplace owners to add multiple vendors to their marketplace and provide better choices for users looking for the best deals available.
In Magento community we can see lot of extensions. Before developing and eventually launching your own Magento 2.0 extensions, there are certain key points that you need to remember.
Here are some of the benefits vendors, customers and the marketplace gain from Magento multi-vendor extension.
Advantages to the Marketplace
Magento multi-vendor extension can bring a wide plethora of products, vendors, deals and incredible buying options for customers under one platform. This ultimately drives more people to the business and further more sales, naturally. When there is a wide range of products of different categories, the site can respond well to the queries of the customers and improve sales. There is a better chance for attracting quality traffic to the website, which would translate into sales. Since extensions are flexible and easy to use, the marketplace owner will have little trouble in adding, removing and modifying vendors. The marketplace owner will be free of various responsibilities such as adding products, products categories, pricing inventory tracking and management, etc., which help them focus on more important business functions.
Advantages to the Vendors
When becoming a part of an already established and reputed market place, the vendors are at a juncture where they are rewarded with the existing reputation, high-quality traffic and more opportunities to sell. This is not really the case if a vendor opens a shop for himself/herself. With the Magento multi-vendor extension, the vendors are endowed with the ability to save a lot on setup, promotion and the platform costs. Even though the vendor is hosted on a platform that does not belong to him/her, they will still be able to get all the support and requirement just to provide an experience parallel to having an online platform for them, in all its glory. The platform is created to have a simple interface that drives the vendors to use them effectively without having to possess a lot of technical knowledge. It is simple, effective and gets the job done real quickly for the vendor, just the way they would love.
Advantages to the Customers
One of the best ways to retain customers is to provide them uncompromising and excellent user-experience, especially in the case of e-commerce business. This must be the case for every instance a customer interacts with the platform. It is a no-brainer that if the customers are dissatisfied with the way the platform responds, interacts or supports them in making the purchase decision, they might as well abandon the cart or better, the entire website for good. However, with the Magento multi-vendor extension, the customers are provided with unmatched user experience and a myriad of products, vendors and deals to choose from. In that sense, Magento multi-vendor extension is a clear winner. After all, who wouldn’t love an exceptional business that adds value to the customers?
According to a recent study published by Builtwith.com, Magento supports around 28% of all the websites on the internet and about 16% of the best one million websites. Apart from the advantages listed above, another reason that makes Magento an impeccable e-commerce platform is its ability to mete out several plug-ins that add incredible value to its already exceptional forte.
Few of the robust extensions include:
- PayPal Adaptive Payments
- Vendor Membership
- CMS
- Vendor Sub-accounts
- Vendor Tax
- Price Comparison
- Live Chat
- Mass Import/Export Products
- Vendor Reviews & Rating
- OneStep Checkout
- Vendor Reports
- Store Locator
- Vendor Billing
- Vendor Attribute Options
- Deals
- Vendor Featured Products
If you are a developer, and want to know how it is packaged and uploaded to the community, read our blog ‘How to Package an extension in Magento’.
Conclusion
Magento has indisputably changed the landscape of e-commerce business. It is becoming the most preferred choice to base your business on as well as the most sought after e-commerce platform that businesses want to migrate to. The fact that Magento accounts for over 29.1% of the e-commerce market share is just a feather on the proverbial hat of Magento e-commerce platform.
Do you desire to turn your online stores to a marketplace? If yes, we can help you customize the extension to meet your specific business needs. Send in your thoughts to services@suyati.com
Related blogs
The benefits of building e-commerce apps on Magento 2
Top Four Tips to Launch Magento 2.0 Extensions
How to package an extension in Magento
Choosing the Right Magento Version: Community or Enterprise?
