In recent times ecommerce platforms have been expanding their business to multi vendor ecommerce to fulfil the demands of different product types. The multi vendor marketplace sales are expected to exceed $7 trillion in the coming 5 years, which is 4 times the present sales.
A multi vendor marketplace is a large-scale online platform that helps multiple vendors to sell their products and services. It includes sellers from various industry who sells a number of products. The multi vendor marketplaces act as a medium that connects sellers and buyers and earns through commissions on sales. Sometimes marketplace owners also sell their products.
Whereas a multi vendor marketplace software is a written computer program that helps to set up a multi vendor marketplace. It is rather a tool to operate and manage marketplace platforms. This marketplace software is developed from bottom to top with features needed specifically for multi vendor marketplace which is broadly categorized for administration and vendors.
It has a robust functional capacity to support new multi vendor marketplace owners and scale established multi vendor marketplaces. Yourstore’s multi vendor marketplace features are the best in the industry and the software is extremely easy to use. If you are looking for a feature-rich multi vendor marketplace software that helps you scale faster and empower multiple vendors globally from a central system then Yourstore is the best option for you.
You don’t have to trust just our words. Get a free 7-day trial of Yourstore multi vendor marketplace software and see it for yourself.
Magento marketplace module is a popular name in the field of ecommerce and is trusted by many. Magento is an open-source marketplace software code which can turn your ecommerce store into a multi vendor ecommerce marketplace. It is a customisable feature-intensive platform.
It is suitable for those who want to start a simple ecommerce as it has pretty basic features. However, the marketplace module requires additional plugins to customise it according to your multi vendor marketplace and you would need to put in the extra effort of connecting with the people who created the plugin rather than Magento. Users have also stated that it requires technical knowledge to set up a marketplace and has a steep learning curve, not-so-great technical support and feature updates are highly expensive.
Shopify is a renowned ecommerce software used globally. Just like Magento, it is a single merchant platform and you would need to use the multi vendor marketplace extension to convert your ecommerce shop into a multi vendor ecommerce platform. It would benefit the users who are already a part of the Shopify ecosystem.
However, there is a downside to this marketplace software. Users have reported that it doesn’t offer a long time of technical support and it becomes hard to resolve issues that arise, the subscription fees are on the higher side and have limited customisation features.
Sharetribe is a SaaS ecommerce platform which supports launching a multi vendor marketplace quickly. It is an easy-to-use marketplace software and would be an appealing option for first-time entrepreneurs and small business owners.
Now talking about the paid plans, Sharetribe provides very basic features and has limited functionality. It is not a white-label solution and if you want to have your own custom landing page then you need to pay an additional $99 per month. Users have reported that there are limited features and few options to customise.
Arcadier is a SaaS platform that caters to entrepreneurs, small businesses and enterprises. It is a growing platform and doesn’t have much of a customer base. It has basic features and can be useful for first-time marketplace owners.
Users have reported that it has limited customisations and you have to pay if you need a feature that requires API. Though it has plans starting at low-cost but additional customisation costs can skyrocket.
With the BigCommerce marketplace extension, you can convert your existing ecommerce store into a multi vendor marketplace. It is developed by Webkul and offers very basic features as it is not a standalone multi vendor marketplace software.
Although it is user-friendly, you have to have an ecommerce store in BigCommerce to convert it into a multi vendor marketplace and has very common themes. Users have reported that there are limits on annual sales which force you to upgrade to expensive plans.
Read our complete blog about the best multi vendor marketplace software platforms comparison.
To choose or buy any product, you need to know the ‘Why’ of it. Unless you don’t know the requirements of your multi vendor marketplace you will not be able to cross-check if the marketplace software meets them or not. If you can’t afford a team of developers or don’t have coding experience then it is best to choose a no-code multi vendor marketplace software like Yourstore.
A company is just as good as how it treats its customers. Reach out to the company and check the level and quality of support they offer. You do not want to buy a product and then struggle to contact customer support later.
To get a clear picture of how the marketplace software works it is best suggested to schedule a demo as a lot of money is invested in it and have them walk you through the features and its use cases. It will also help you assess the user-friendliness of the multi vendor marketplace software.
You can contact Yourstore to schedule a demo with us.
When it comes to finding the best multi vendor marketplace software you will find an overwhelming amount of information on the internet which is not always accurate. Find a few trusted sources and compare features and pricing to make the best choice.
A multi vendor marketplace involves three stakeholders - Marketplace owners, Vendors and Customers. The best marketplace software is the one which has features that make multi vendor ecommerce easy for all three of them.
This is a primary thing to and you should not be struggling at the beginning of launching your multi vendor marketplace. See how much time and money you need to invest in the software to launch your platform.
Launch your multi vendor marketplace in a day with Yourstore.
The best multi vendor marketplace software platforms are the ones that are easy to use for the vendors as they are the main stakeholder in a multi vendor marketplace model.
The marketplace software should be easy to access from different devices so you can access your marketplace from anywhere at any time
Yourstore’s mobile app makes your job easier and you can track sales and transactions at any given period of time.
The marketplace software should support multiple product categories, which is an essential feature for a multi vendor marketplace model.
Focusing on the customer experience aspect of the multi vendor marketplace, any marketplace software should have flexible search options.
To make your marketplace reflect your brand identity, the marketplace software should be supportive of the customisation of themes and templates which can make a difference.
Uploading products in bulk via different file types and pricing them to make it easy for the vendors.
The multi vendor marketplace software should allow vendors to set up different payment and shipping options to enable smooth transactions for the vendors as well as buyers.
An automated vendor payout system makes it easier for both vendors and marketplace owners in distributing payments and commissions respectively.
These are some of the essential features required for a multi vendor marketplace that the marketplace software should support. Above all, check if the multi vendor marketplace software has the features that you require for your marketplace.
Building a successful multi vendor marketplace is directly dependent on the marketplace software you choose. With many marketplace software available in the market you can do your research and choose the one that best suits your needs. Yourstore multi vendor marketplace software has all the above-mentioned features and has plans affordable for everyone.
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Should you have any queries, feel free to get in touch with us and we’d be more than glad to help you.
Sumaya Sheik, Yourstore
21st November 2022