The eCommerce online marketplace is a multi-vendor platform. Multiple sellers can trade their products and services in an online marketplace. The best example is Amazon. Basically, a marketplace enables multiple vendors to set up their account and put their products for sale. As an online eCommerce marketplace has products from different categories, it receives a larger audience and more conversions. For each sold product, the marketplace owner gets to earn a small commission from the seller. The inventory and delivery part is managed by the vendors.
The good news is Magento 2 store owners can transform their eCommerce store into a marketplace using the Magento Marketplace Extension. So, if you plan on selling different types of products on one platform, you can convert your shop into an eCommerce marketplace and earn commission on every sale.
The module supports several languages, making it easier for international vendors to sell on your marketplace. The languages the marketplace extension supports are Arabic, English, Chinese, Thai, Vietnamese, Portuguese, Russian, Japanese, French, Spanish, Filipino, and German.
The extension allows you to set commission rates, manage payment settlement, vendor panel, and more. Magento marketplace module is compatible with all themes and other extensions. Here’s the list of admin features it offers:
- Bulk Import – the marketplace owner is allowed to upload products in bulk.
- Edit Merchant Information – Admin has full control over vendor details. They can add new vendors, remove the existing ones, or edit the current information of a vendor. All this could be done from the backend.
- Product Approval – You can adjust product approval settings and turn it ON/OFF. You can turn this option on if you would like to get an approval request before the product makes it to the marketplace.
- Registration Approval – Merchants are allowed to set up their accounts on a marketplace from the front end. However, if you would like to verify their details and account information before approving their registration, you can turn the registration approval function on.
- Vendor Categories – Admin gets to set the categories they would like to enable for the vendor.
- Manage Reviews and Ratings – Admin can manage the reviews and ratings left by customers.
- Manage Commission – Admin can set the same product commission for all products or a different commission on each product category.
- Manage Enquiries – Customers are allowed to make inquiries to know details about the product or raise a complaint. Admin can view and manage all these queries from the backend.
- Payment Settlement – All payments are received by the marketplace owner. The owner keeps the commission on each sale and transfers the rest of the funds to the vendor’s account.
Magento Marketplace Extension – Vendor Features
The extension allows vendors to manage their products and sales. The following are the features available for vendors.
- Vendor Panel – Vendors can manage the product info, account details, and sales information from the Vendor panel.
- Registration – Vendors are allowed to register their account on the eCommerce marketplace using the vendors sign up link available on the header and footer of the website.
- Manage Profile and Store – The profile information can be updated and edited from the frontend. They can add, remove, and edit product information from the vendor’s dashboard.
- View Reviews – customers leave a review after the shipment. Vendors can view the ratings and reviews they have received from different customers.
The other features that the Magento Marketplace Extension offers to vendors are invoice and shipping function, user inquiry management, product and store management, and more.