Understand the Multi-Vendor e-commerce platform: Key features, benefits and development cost as well as marketplace app offers business opportunities to multiple vendors to sell their products and services in this large online space. Selling goods and services in physical stores attracts fewer customers, the online marketplace is a great solution for expanding the business across the globe and attaining a significant number of customers as well. In this blog You will learn about the Multi-vendor e-commerce platform: Key features, benefits and development cost
A multi-vendor e-commerce platform is an online marketplace where many sellers can register, create their profiles and add products they want to sell. Amazon, Flipkart, Myntra, etc. are the examples of multi-vendor e-Commerce platforms. Are you looking to develop a multi-vendor e-commerce platform?? Read this full article to know about the features, development cost, key benefits, and tech stack to develop a multi-vendor marketplace app.
Related blog:-How to Develop a Multivendor e-Commerce App?
Importance of Multi-vendor e-commerce platform
Multi-vendor e-Commerce platform provides a hassle-free process through which vendors are able to upload and manage their goods in an effortless way. These platforms are cost-effective and have an outstanding web presence. E-commerce is the fast-growing industry and has occupied a significant share of purchases. This industry actively encourages new concepts and strategies to help the dealers increase their sales.
Top Benefits of a Multi-Vendor Marketplace
Wide range of Products Available- Instead of wasting time to search for products across the Internet, potential customers can simply browse the marketplace to find everything they need within a product category. It blows up traffic and causes a significant increase in sales.
Complete Automation- E-commerce entrepreneurs have to handle various logistics and shipping tasks as well as order processing, updating product information, pricing, etc. A marketplace app helps to automate most of these activities and pay attention to more important things such as marketing and promotion of brands. Task automation and seamless management give business owners unique opportunities.
Cost Minimization- A multi-vendor marketplace saves money by providing administrative and software development services to the business owners.
Features of a Multi-vendor Marketplace app
Vendor/User Registration- Multiple vendors can easily register their profiles on the eCommerce marketplace platform. The registration process should be easy as if it’s difficult for vendors to list their products, they’ll go somewhere else which leads to business losses.
Quick Search Feature- Quick search is always a core feature for the Multi-vendor e-Commerce app. Customers can easily search what they need in an easy manner.
Ratings & Reviews- The customers can read and write reviews for seller products so that online marketplace vendors can stabilize their reputation. With the help of this feature, you can earn the customer’s trust and it will improve your sales revenue.
Charge a Commission- As the owner of a Multi-vendor e-commerce marketplace, you will generate revenue by charging a sales commission for each order processed by each vendor.
Order Tracking- This feature notifies your customers when their order has been approved, processed, shipped and/or ready for delivery.
Multiple Payment Options- By allowing your customers the right to choose a preferred payment option, you will not only improve their shopping experience but also allow them to quickly move through the checkout funnel.
Multilingual/Multi-Currency- This feature improves the customer experience as the customers can access the website in their preferred language and they can make payments in their preferred currency.
Technologies That Are Used To Develop e-marketplace App
- Google Currency API
- AWS For Cloud Environment
- MailChimp Integration, Postgres, Cassandra, HBase, MongoDB For Database
- Mean Stack
- Google Webmaster
- Mandrill And SendinBlue For Email and SMS
- PayPal & Braintree, e-Wallet, Stripe For Payment
- Push.io, Twilio For Push Notifications
- Twilio, Nexmo For Phone, Voice & SMS Verification
The development cost
The development cost of a multi-vendor marketplace app varies according to the requirements and features you want in an app. In other words,you should do some markets research for that before you get into this. Developers from Different Countries Have Different Hourly Rates:
- In Eastern-Europe Based Company: $50-$150/hour
- In U.S. Based Company: $80-$250/hour
- India-based Company: $20-$80/hour
Identically, The development cost of a Multi-vendor e-commerce app is somewhere around $10000-$15000. However, it totally depends on the features and functionality of the app.
- Front-end & Back-end Development: $9,000-$12,000
- QA & Testing: $4,000-$5,000
- UX/UI Design: $2,000-$3,000
In a nutshell
The development of a Multi-vendor marketplace app has become a major revolution in today’s world. However, These marketplace apps provide the right products and services to demanding customers. If you are planning to develop a multi-vendor e-commerce app, you should hire a mobile app development company for the development of your project. The Tech Pathway is a top-notch mobile app development company that provides app development services at affordable prices. Our multi-vendor e-commerce app platform comes with different modules for vendors and customers. In addition, we also offer a complete dashboard and backend for admin so that the single portal can manage those backend issues. We are an experienced team of e-Commerce developers and are able to meet your specific needs.