Features You Need To Have In A Multi-vendor E-commerce Website!
Nowadays, Multi-vendor e-commerce websites are extremely popular, and there is absolutely no reason why they shouldn’t be? Multi-seller Ecommerce platforms are more practical, offer a wide range of products and services because of the multi-sellers, are easy and affordable to operate, and are pretty straightforward to market on the web and mobile.
If and when done right, multi-vendor e-commerce sites can turn into an automated revenue generating goldmine. But the question remains – how do you do it right? The answer is simple, create an ecommerce platform that can grow as per your growth, but that’s not the only advice you need for winning!
Therefore, it must be understood that to take the full advantages of a multi-vendor platform setup, you need a specific set of features. These features are threefold, as they focus on three aspects of a multi-vendor platform, from admin, vendor, and buyer perspectives.
Multi-vendor Website Setup: Admin
Admins or Administrators are exactly what the name suggests they are. These people are the ones who will be managing the e-commerce platform most of the time and hence use it most often. Therefore a multi-vendor e-commerce platform website needs to have the following features that cater to the needs of admins to have total control.
Admin Specific Features:
- Product Catalog: Having a product catalog Thus it also ends up greatly reducing the management hassle on the admin side. The best thing possible is having a unified main catalog where all vendors easily add products and prices, an e-commerce multi-vendor platform vendor setup couldn’t get any easier.
- Scalability & Customizability: Your e-commerce platform needs to be a dynamic marketplace that can grow to meet your business growth rate. This includes adding more vendors to creating more product categories. Admins should be able to add, scale, and customize the website platform as per their needs.
- Review Management System: Selling products to users you need to establish product credibility and maintain your brand value among customers. Thus you need to have a product review system that can be used by both the admin and sellers to gauge the satisfaction levels within their user-base.
- Task Processing Automation: As you grow in scale, the more you have to put exhausting manual efforts tohandle setting commissions, tax deductions, shipping calculations. Not having an automated solution in such a situation can cause errors. Therefore having automated systems are a must for the hassle-free management of the marketplace.
- Data Analytics: The more user activity your platform experiences the more data you will generate. This data needs to be collected, streamlined, and then analyzed from sales reports, personalized customer recommendations, campaign reports, etc. Hence having the ability to gather and analytics data is critical for your success.
Multi-vendor Website Setup: Sellers
The seller is the second pillar that needs to function at 100% if you want your e-commerce venture to be successful. Hence here are the following features that are non-negotiable if you want to create an e-commerce platform that takes a seller-first approach:
- Vendor Control Dashboard: Your e-commerce platform must have an extensive and detailed control dashboard. To enable easier management of the online store. The vendor from one single control dashboard can handle their profile, product, sales, profits for the day. Similarly a certain time duration, and inventory all from one single console. They can in fact change prices for a same product for its different variations
- Marketing & Advertising: Depending on the size of your e-commerce platform you should offer integrated marketing solutions like PPC tools. Such tools enable vendors to advertise their products to a larger potential audience already on your platform. This integrated PPC tool should enable them to select a duration, budget, special features, etc. to customize their campaign.
Seller Specific Features:
- Import/Export Automation: A vendor will potentially have a ton of data that he/she will need to migrate to a step shop on your e-commerce platform. For example, tax categories, product catalogs, price catalogs, etc. Frankly, no one looks to get into this hours of hassle to upload their products on your new platform. With Import/Export automation you make it faster & easier to import and export data from to-&-from your platform.
- Shipping Information Management: Your e-commerce platform must provide you the ability to choose their preferential shipping company. This feature enables you to offer them unparalleled convenience and allows them to provide the customers with accurate delivery estimates. Further, customers can also see the delivery estimate date and prices in advance before they actually pay for it.
- Multi-Store Setup: Many sellers have more than one store. Therefore your online e-commerce platform needs to have the ability to accommodate and create multiple stores from a single vendor from a singular account. This will help your sellers to stay longer on your platform and the customers in return will get a variety of products at a single place.
Multi-vendor Website Setup: Customers
Customers are the final piece of the puzzle in the game of e-commerce brand building. They are the ones for whom you have been building up everything from ground-zero and will help you generate some bucks. Hence here is the feature that your multi-vendor e-commerce platform must have to satiate your customers.
Customer Specific Features
- Fluid Navigation: The customer’s shopping experience is completely dependent upon the fact of how he/she navigates your platform. The easier it is for him/her to move from point A to point B, the better your chances of making a sale and turning a profit.
- Simple & Easy Checkout: This is an essential feature to have if you want your e-commerce enterprise to succeed. You need to design and create an extremely simple and easy to use checkout system. Hence it reduces the chances of carts being bonded. You may also add an option to edit the cart for any final moment changes by the customer.
- Order Tracking: Your platform must provide your customers with ample amounts of information throughout the buying process. From the initial order approval to the processing, shipping, and final delivery. Customers love to stay informed at all times,
- Multilingual/Currency: If you want to grab the market share internally. Then you need to offer the option to navigate the platform in the language and currency of the customer’s choosing. This feature makes your platform truly shine on a global stage.
- Multiple Payment Gateway Options: Your e-commerce platform needs to be accessible to all tranches of consumers. Hence it needs to give them the freedom to choose and use their preferred mode of the payment transaction. This not only creates a better user experience but also propels them faster through the checkout funnel.
All the above-mentioned features are a must-have addition to all businesses that want to create multi-vendor e-commerce platform websites. A platform built with the above features packs a punch that can take your e-commerce platform leaps and bounds ahead in any niche you operate in.