How to create a multi vendor marketplace website
There are several ways to create a multi vendor marketplace such as
- Use a ready-made, out-of-the-box marketplace software like Mirakl or a multivendor marketplace builder like Yo!Kart
- Choose an open source ecommerce solution with marketplace extension, multi vendor marketplace app builder, marketplace cms, and essential production-ready modules
- Install a multi vendor marketplace plugin if you already operate an ecommerce site on platforms like WordPress
- Create a marketplace from scratch
Your preferred method of development will depend on several factors that revolve around your business plan, your goals, your budget, and finally, the set of features you'd like your marketplace to have.
In fact, marketplace functionality is of utmost importance. Your platform users, both merchants and buyers, must have an excellent user experience. If your marketplace website is too complex to use or too slow to load, your prospective buyers will easily switch to a solution that's simpler and more convenient.
Both vendors and buyers will certainly require at least the following standard features:
- Registration, authorization and security. Your users will need to sign up with their personal details and a password. If your business model requires verification procedures, there should be a comprehensive mechanism that allows you to perform verifications as smoothly and swiftly as possible.
- User and account management. Granular account management is imperative for both customers and merchants in B2B. In B2C, however, only vendors might require granularity in account and user management where they can specify roles and permissions for managing a store.
- Catalogue management for vendors and shopping lists for customers. There should be a publishing mechanism for sellers to upload products and provide product specifications and descriptions. Customers, on the other hand, might require multiple shopping lists or access to certain account-restricted price lists that have been contractually agreed upon.
- Search and filtering. You need to provide both vendors and buyers with an efficient search and filtering mechanism. Integration with a reliable search engine is, therefore, a must.
- Analytics and statistics. Analytics dashboards and sales statistics will help your vendors track and analyse their activities, such as leads, views, items sold/not sold, and so on.
- Multi vendor marketplace template. Vendors will likely require themes and templates to make their digital stores more appealing to prospective buyers, so you'll have to invest in design and front end development to make sure your vendors have several attractive options for their storefronts.
- Marketing options. Boost options, advertising, newsletters, coupons codes, and other marketing functionality provides you, as a marketplace owner, with more monetisation options and your sellers with opportunities to promote their product and increase sales.
- Ratings and review system. This feature allows buyers to leave product reviews and rate sellers thus increasing the credit of trust with the platform and keeping sellers motivated.
- Payment options. Your platform must be able to support advanced payment functionality and integrate with the best multi vendor marketplace payment gateways. Support for credit/debit cards, ACH, payment services like Paypal and Stripe are an absolute must.