Magento is an e-commerce platform based on open source technology that provides businesses with a flexible shopping cart system, as well as the ability to control the appearance, content and functionality of e-commerce platforms. Nowadays, Magento is chosen to build as a marketplace more and more due to keeping up with current design trends, online store needs and online security requirements. So, in this article, we would like to show what vendors should know about Magento marketplace.
What is Magento marketplace?
Magento marketplace is a platform that provides powerful tools to help businesses implement marketing, search engine optimization, and catalog management. In addition, the platform can handle a large number of requests to improve the online shopping experience of consumers.
Advantages of Magento marketplace for vendors
The marketplace of Magento brings many advantages to businesses, first of all, its powerful e-commerce functionality because it provides many features that make it easy to manage and operate an online store. Magento supports multi-store management, allowing businesses to manage multiple online stores with different domains from a single admin panel. This is a great Magento feature for building Marketplace.
The next advantage of Magento when building Marketplace is inventory management. This model of Magento makes it easy for businesses to create additional states in the user interface to accurately represent the current state of the product so that businesses can know if the product has been out of stock or not.
Marketplace from Magento helps with SEO and marketing support for businesses. E-commerce platforms these days are focusing heavily on SEO, so this feature from Magento to build a marketplace makes the chances of the products in your eCommerce store appearing on different searches very high.
How to build a Magento marketplace?
When creating a marketplace with Magento, you should participate in management features such as vendor management. Another feature is order and product management which makes it easy for sellers to upload products and edit related information; along with that, because orders will come from many different sources, order management features to track order status, track shipping is important.
One of the important elements of the marketplace from Magento is accepting payments from buyers. Your business will need to integrate a payment method into the website that can then be used by marketplace sellers and automatically processed for each order. What’s more, since many customers will visit your online store, you must simply allow them to check their order history, track their shipments, and more.
The process to build Magento marketplace
To create a marketplace from Magento, you need to choose the right edition. There are 3 editions you can choose from Magento Open Source, Magento 2 Commerce and Magento Cloud. Each edition has its own benefits and features tailored to the needs of your business.
Next, you need to install enterprise extensions such as the multi-vendor marketplace feature; Manage orders and optionally shipping methods.
The final step is to create and market your actual marketplace so that customers can find and start using it. You should attract customers to pay attention to your marketplace.
More and more people choose to build a marketplace on Magento because this is the best and most optimal choice for a large-scale business. Contact us if you need support for your Magento business.