If you’re looking for online space where you can list your products as well as allow other retailers list their products and sell them online, you’ve landed on the right page.
Rocket Bazaar is the one-stop multi-vendor marketplace platform with unmatched features and outstanding benefits. It provides passive income to the marketplace owner by choosing a flexible, scalable and reliable multi-vendor ecommerce solution.
Before diving deep into Rocket Bazaar, let’s check out how does a multi-vendor marketplace model works.
How does a Multi-Vendor Marketplace Model Work?
A marketplace model of eCommerce provides a web platform to establish a digital commerce network which facilitates a healthy communication between sellers and the customers. For example, the marketplace giants like Amazon and eBay provide an online platform for the customers to interact with a selected number of merchants. So, when an order is received on the site, it is not the marketplace owner who owns the product. The order is passed to the sellers and they fulfill the order. This reduces the headache for the marketplace owner and he makes money by receiving a commission on each transaction as well as by charging subscription fees to sellers who maintain storefronts in the marketplace.
Why more and more retail business owners are shifting from e-commerce website to a multi-seller marketplace platform?
Today, ecommerce enthusiasts are more interested in virtual multi-seller marketplace software than an ecommerce website. Here are the reasons for this marketplace shift:
1. Vast range of products
The products sold on a multi-vendor store are featured by a number of vendors. Any ecommerce store that provides a huge variety of products is bound to easily generate traffic and sales. If EBay and Etsy were to source all the products from one vendor, do you think they would have been able to generate as much sales as they do now?
2. It takes away half the headache
Taking care of logistics, inventories, product additions & upgrades, pricing and various other details that comes with running an online store require humungous efforts. Multi-vendor store shifts these necessary evils to individual merchants. Because sellers have to take care of their own store only, it doesn’t remain an uphill task. So, this makes multivendor shopping cart a win-win business equation.
3. Lesser expenses
Because every seller will be managing his shop on their own, you don’t need to hire people to do it. Your team can spend more time on answering critical questions related to scaling and marketing. With an experienced development team by your side, you can drastically bring down website maintenance related expenses.
4. No need to maintain inventory
Warehousing and human resource related costs can break the back of any ecommerce startup. Starting a multi vendor store will not let that happen as sellers will take care of inventory related complications.
Merchants on multi vendor ecommerce platforms can manage product details, prices, and areas of delivery, make additions, and updates as per their convenience. This flexibility comes along with the robust Magento ecommerce software and there’s no requirement of technical knowledge.
6. Cash Flow through Commissions
Since marketplace websites can have a number of sellers, it earns by taking commission on each transaction between the sellers and the customers. To ensure sellers are attracted to the site, Marketplace websites do not take heavy commissions on the sales. As a result, the only way left to improve the treasury is to encourage a high number of transactions on the website.
How to choose the right marketplace platform for your business?
Benefits of having a Multi-Vendor Marketplace Solution For Your Retail Business
Ecommerce entrepreneurs are more interested in starting virtual marketplaces because of added operational efficiencies and better margins. Here are some of the exclusive benefits of Rocket Bazaar for your retail business:
Rocket Bazaar’s Solution Fuels Your Online Store with extensive marketplace features
Multivendor store requires superior technology and considerable investment to make the right impression. Rocket Bazaar is a Magento ecommerce solution developed by Krish Technolabs to do away these limitations. Build your online marketplace with empowering features of world’s leading ecommerce marketplace platform – Magento, which lets you take full control over vendors, orders, commissions, payout and more.