Selling by itself won’t be sufficient to catapult internet enterprises to the top as market rivalry increases. Various eCommerce retailers experiment with various methods to increase their revenue stream. International vendors can list and sell their goods on a single platform thanks to marketplaces. Customers are kept interested in the store by the wide variety of products offered by the Multi-Seller Marketplace. The store administrator must fill out a brief registration form at the store in order to start a seller store on the Marketplace. and get administrative permission for it As soon as the store admin confirms the registration form, sellers can start displaying their products and selling them at the Multi-Vendor Marketplace. Thus, using the marketplace concept, small-scale vendors can offer a wide variety of products to clients. Sellers may serve a wide range of customers without worrying about website upkeep and development.
The Knowband developer team has created an innovative OpenCart Multi-Vendor Marketplace Extension in a similar vein. The extension enables OpenCart online merchants to switch from a single vendor to numerous sellers in their shop module.
Additionally, OpenCart online retailers can give independent vendors the chance to advertise their goods and sell them through the OpenCart store, just like eBay, Etsy, and Amazon. Let’s quickly go over the functionality of the OpenCart Multi-Vendor Marketplace Extension.
Knowband’s OpenCart Multi-Vendor Marketplace Extension
The Multi-Vendor Marketplace Extension from Knowband, an eCommerce development firm, makes it simple to transform your online store into an OpenCart Multi-Seller Marketplace. Your online store is transformed into a multi-vendor marketplace with Knowband’s OpenCart Multi-Vendor Marketplace, allowing any outside vendor to register their goods and begin selling from your site. We can look at examples from eBay, Etsy, Amazon, etc. for the most successful examples employing the same method.
Multi-vendor marketplaces’ popularity is due to the fact that they provide a range of products on a single eCommerce platform. For instance, if you’re a consumer trying to buy items that fall under multiple categories, you’ll always favor multi-vendor markets like shopping malls over stores with only one vendor.
Your single-vendor website may be quickly and easily transformed into a fully working marketplace with Knowband’s OpenCart Marketplace extension. The Multi-vendor Marketplace module allows the administrator to create a marketplace with multiple merchants that is akin to Amazon, eBay, or Etsy. Both the store administrator and the sellers can profit in return. The OpenCart Multi-Vendor Marketplace Plugin provides a unique dashboard for order management for sellers. On the other side, the admins can charge the sellers a monthly subscription fee in addition to a commission for each transaction. Third-party sellers can manage their orders and products using a different dashboard thanks to the Knowband OpenCart Multi-seller Marketplace module.
By converting their stores into multi-seller marketplaces, online retailers who use the OpenCart platform for online sales can simply gain the following advantages.
Simple Commission-Based Passive Income:
The Knowband OpenCart multi-vendor Marketplace plugin gives eCommerce business owners the chance to increase their online venture revenue streams. Additionally, store owners have the option of setting a default commission rate for third-party vendors. The commission amount will be immediately credited to the OpenCart shop owner’s account for each item sold by a seller from their shop.
Similarly, by allowing the seller categories to select their compensation %, the admin can offer variety to the commission module.
Proper Control Over the Orders and Payments Made by the Sellers:
The admins have complete control over the key components of the business, such as payments and orders. After all, the Knowband OpenCart Marketplace Extension gives the OpenCart store managers the necessary and overall control while the sellers will sell the products from your store and can manage their share. With the aid of the OpenCart Multi-Vendor Marketplace plugin, the OpenCart shop administrator can at any moment update, delete, or add any seller’s profile with only a few clicks.
Various Payment and Shipping Options for the Sellers:
The OpenCart store administrators can provide various shipping and payment choices to independent sellers just like they can on eBay and Etsy. The Knowband OpenCart Multi-Seller Marketplace plugins assist businesses with a PayPal payment option for sellers selling from their shops.
Furthermore, sellers are free to select the finest shipping options and deliver the goods to clients at their convenience.
Order Management:
The dashboard shows the orders that have been placed on the market. The OpenCart Multi-Seller Marketplace plugin’s basic email templates are used to notify the sellers of orders. The orders can be processed by the vendors, and any modifications to the order status will be visible in the admin interface of the OpenCart Multi-vendor Marketplace extension. The ability for admin and seller information to be displayed on invoices is configurable.
Control Over the Seller’s Profile:
Unquestionably, the seller will have access to an admin dashboard for managing orders and other logistics. The store administrators, however, will be the true owners of the procedure. The administrator of the OpenCart shop can at any time approve or reject the sellers using the Knowband OpenCart Marketplace Extension.
Many Different Products:
The ability of the OpenCart shop administrators to provide clients with a huge selection of products is one of the extension’s main indirect advantages. The merchants will undoubtedly deal in various product categories, which is the explanation for this. The diversity of categories will undoubtedly increase significantly as a result of the extensively listed categories.
Free Coding and Hosting
The initial advantage of the Knowband OpenCart Multi-Vendor marketplace plugin to the sellers is that there are no hosting or coding fees. When it comes time to start selling products online, setting up the shops requires a number of different elements.
On the other side, there are no hosting fees or technical requirements for the multi-vendor marketplace.
Moreover, by just listing the products, retailers can start selling right away on the platform.
Personal Dashboard:
Third-party merchants receive all the tools necessary to handle their own sales management. Online vendors can own dashboards thanks to the Knowband OpenCart Multi-Vendor Marketplace Extension.
Additionally, through their dashboard, sellers can easily keep tabs on their ratings, stocks, products, and orders.
Seller-Specific Coupons:
The OpenCart Multi-Vendor Marketplace Extension enables coupon generation for independent vendors. Additionally, the sellers can establish restrictions so that the coupons only apply to their listings.
Moreover, the Knowband OpenCart Multi-Vendor Marketplace Extension allows merchants to execute a variety of campaigns on their listings.
Wrap Up:
In the end, more effort and hard work are needed to stand out from the competitors and take one’s internet business to new heights. Additionally, a number of other revenue streams support the OpenCart online store and aid in the expansion of the merchants’ eCommerce operations. Similar to that, The Knowband OpenCart multi-vendor Marketplace plugin gives retailers the chance to offer sellers an open-source eCommerce platform for listing their goods and generating sales from customers.
Additionally, Knowband OpenCart multi-vendor Marketplace converts your eCommerce OpenCart shop to the multi-vendor Marketplace shop without the need for any coding or technical understanding.
The Knowband OpenCart multi-vendor marketplace plugin comes with free technical team support from the Knowband tech team for three months. Please feel free to contact us at support@knowband.com if you have any queries regarding how to convert your OpenCart store into a multi-vendor marketplace.