What’s a multi-vendor eCommerce site?
A multi-vendor eCommerce site is a website that allows people to buy and sell things, much like Amazon or Etsy.
A multi-vendor eCommerce site is also known as an eCommerce marketplace.
As the name suggests, multiple vendors can signup and create their own stores on these marketplaces and sell their products directly to the customers.
The multi-vendor eCommerce sites allow both buyers and sellers to connect.
Here, the buyers can browse through thousands of products from different sellers while the sellers can create a store with images and descriptions of your products and sell them directly to their customers.
When do you need to develop a multi-vendor eCommerce website?
You need to build a multi-vendor eCommerce website if you want to:
- Allow the sellers to signup, log in, and list their products on your website.
- Allow the buyers to browse the products and view the sellers’ information on your website.
- Earn commission from the sellers on each sale that your marketplace provides them.
- Earn money through advertising from the sellers to promote their products.
- Create a unique web portal where any user can sell their products.
How much does a multi-vendor eCommerce website cost?
Creating a multi-vendor website can really cost you a lot. Especially if you are living in a country like the USA, UK, Canada, or Australia, you may have to pay in 5 figures to create a marketplace store.
But there’s an affordable solution.
You can hire Indian website builders to create a multi-vendor eCommerce site at an affordable price.
When you hire a web design agency or web developer in India, you can easily save more than 40% on your overall website development cost.
A website development company in India can charge you somewhere between $3000 and $5000 to create a marketplace website for you. This cost may vary depending on your specific business needs.
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Best platforms to create a multi-vendor marketplace:
11 Essential features that Indian developers can provide you with for your multi-vendor eCommerce website
Before you go ahead and hire a website developer in India, you must know some of the basic yet essential features that your multi-vendor eCommerce should have.
Let’s dive in.
#1 Vendors registration
This is where the vendors can signup with your eCommerce marketplace by filling out a simple form.
Here, you can ask your vendors about their below details:
- Company name
- Brand name
- Preferred store name
To get more registrations, you need to make sure that your web developer has created a simple form for the vendors to signup. If the form is too complicated, you may not get many registrations.
#2 Vendors store
Upon successful completion of the registration form and the admin’s approval, a unique store will be created for each vendor on your marketplace. For example, https://marketplace.com/vendor1/, https://marketplace.com/vendor2/, and so on.
The store page of each vendor should showcase their brand information along with their products.
#3 Vendors’ profile, reviews & ratings
With each product on your multi-vendor eCommerce site, there should be an option for the users to click the vendors’ profiles and see their reviews and ratings from other buyers. Now, these ratings & reviews could be for the vendor or for each product from this vendor. But the idea is to let users know about the quality of the vendor’s products and support.
#4 Vendors badges
This feature is important for the users to know about the status of each vendor on your eCommerce store.
You may like to assign a vendor the badge of a newbie, most trusted, fast selling, etc.
#5 Vendors dashboard
The vendors’ dashboard will allow your vendors to view:
- All of their products
- Manage sales & orders
- The commission accrued
- The payouts
- Edit profile
- Ratings & reviews by the buyers
#6 Buyers’ account and dashboard
Similar to the vendors’ dashboard, the buyers can also have their own dashboard that can have:
- Past orders
- Manage shipping and billing details
- Post reviews and ratings for any product
- Newsletter subscription
- Edit profile
#7 Commission reports (for admin)
For the admin, there must be a section to view the commission reports. These reports will help admin to:
- Disburse the payments to the respective sellers.
- Determine the total payouts to be paid out.
- Determine the total profit from all the sales during a specific week, day, or month.
#8 Sales & Orders reporting (for admin)
The sales & orders report section will allow the admin to:
- View all the sales for a specific duration.
- View the status of any specific order.
#9 Advertising module (for admin)
A section for admin to publish advertising banners for those vendors who are willing to pay & get advertised.
Since a multi-vendor eCommerce store has different merchants who can be from different countries, it would be a great idea to integrate a multi-currency feature as well.
The multi-currency feature will enable you to accept vendor requests globally and sell the products on your store globally as well.
#11 Robust search
Since there can be hundreds or even thousands of products on your multi-vendor eCommerce store, it could be overwhelming for the users to find their desired product(s).
It is, therefore, a great idea to integrate a robust search feature with your online store so that users can easily search and filter the products based on their preferences & choices.