In the era of e-commerce, marketplaces are everywhere. So if you’re looking to grow your e-commerce presence, the next thing to consider is a multi-vendor marketplace.
But what is a marketplace? It is a platform that connects sellers (multi-sellers or more than one seller) and buyers, or supply and demand.
But then, you might have a question or two when you want to create your Marketplace, like “How to create a marketplace website?” and “What is the best platform to create a marketplace?”
in this article, we will reveal to you how to create a marketplace and what is the best platform you can use.
What distinguishes multi-vendor solutions from e-commerce platforms?
A traditional e-commerce platform is similar to marketplace solutions, except that the former supports inventory-based e-commerce operations, while the latter, as the name suggests, allows a website owner to allow third-party sellers to register and sell on their website as a seller on their website.
The four best solutions to create a marketplace
Here are the eight best platforms to build a multi-vendor marketplace based on the essential features.
1. Shopify Multi-Vendor Marketplace
Shopify is a well-known e-commerce software for creating an online store.
However, it’s a single-cart platform by default, and to create a marketplace, you’ll need to use the Shopify Multi-Vendor Marketplace extension, which lets you convert your e-commerce store into a marketplace.
Shopify also provides many published features and APIs for you to customize the interface of your choice, as well as a drag-and-drop builder to quickly and easily design the front end of the website and many themes and templates.
This extension allows you to add an unlimited number of sellers and products while syncing products from other e-commerce stores, which can benefit those who are part of the Shopify ecosystem. In addition, Shopify’s platform is intuitive and designed for users with varying degrees of technical expertise.
However, due to the abundance of third-party plugins, the majority of which are free, users who purchase such plugins may also receive limited long-term technical support.
If you want a feature added to the Marketplace, contact the developer who created the plugin, not Shopify.
2. Miracle
Mirakl is a created to help e-commerce companies establish an online marketplace and expand their product and service offerings by connecting third-party sellers and suppliers.
The B2B marketplace platform automates wholesale, manufacturing, and retail processes by finding third-party drop shippers and partners and bringing distribution channels online.
The main features of Mirakl are SEO management, catalogue segmentation, shipping management and order management.
Operators and sellers can promote their products through omnichannel features such as Endless-Aisle, Click & Collect, and Returns In-Store.
The platform enables users to manage their portfolio by connecting value-added services to products, and it also helps service providers streamline order and payment flow tailored to optimize their service catalogues.
It has a built-in calendar with flexible scheduling options, allowing customers to book a time slot or request their preferred date based on availability.
Managers can use Mirakl to create automated rules based on service provider performance, monitor multiple locations where services may be provided, and create custom service types based on simple or complex service categories.
In addition, the solution includes an API that users can use to integrate the system with existing environments and third-party applications.
3. Wizaplace
Wizaplace is a comprehensive online marketplace software for businesses and startups. Wizaplace offers complete web application development solutions.
This online marketplace system provides order management, payment processing, catalogue management, category management, and a shopping cart, all in one place.
This SaaS solution is built around a core that includes back-offices for administrators and sellers, a front-office for users, an ERP, an e-commerce CMS, a personal information manager (PIM), a single object management system (OMS), and messaging and merchandising capabilities.
Wizaplace integrates more than 70 modules in a single environment to build and manage any type of Marketplaces, such as B2C, B2B, C2C, product or service marketplaces.
The advantages of using Wizaplace for your Marketplace are an all-in-one solution, which means you can do everything there, no costs on customer sales, speedy time to market and compliance with GDPR certifications.
4. Arcadier
Arcadier is the world’s best multi-vendor solution for building marketplace platforms, with dedicated admin, seller and buyer portals and even an admin-sell function.
The Arcadier platform has created over 15,000 marketplaces in 180 countries. Arcadier, which has won several awards, provides white-label marketplace solutions that allow entrepreneurs, startups, large enterprises and governments to create their own B2B, B2C, retail, reservation of services, rental or supply.
It supports all marketplaces, including retail, services, and rental, allowing you to create marketplaces.
Arcadier offers a variety of marketplace features, ranging from templates that get users started quickly and cost-effectively to advanced interface-less, API-centric e-commerce solutions that allow customers with specific customization needs or high-security requirements to create their white-label marketplaces efficiently and affordably.
When you purchase an Arcadier package, you can expect all essential marketplace features to be included immediately.
If you need help, Arcadier has an online guides portal and dedicated customer service to answer any questions marketplace owners may have, whether using the template or the enterprise solution.
Other solutions to create a marketplace
WordPress with Vendify
Wendy is a premium Astoundify marketplace theme that integrates with WooCommerce to provide an easy-to-use and powerful solution for creating a complete online store. It only takes a few minutes to install the Vendify theme on your website.
After installation, you must enable automatic theme updates, install recommended plugins, and optionally import demo content. Throughout the process, you will be helped by an installation guide that will guide you through each step.
The theme is compatible with Elementor page builder, which allows you to quickly and easily create custom WordPress layouts without writing any code. Users can perform multiple customizations simultaneously using the theme’s style kit.
Individual colours can be adjusted in the “Elements and Palette” section, while the “Typography” section contains all font-related options. If you don’t like experimenting with colours or fonts for individual units, you can choose from a set of predefined options.
Dedicated designs for product and seller pages are a handy feature. The product page contains all the necessary information about the item, including images, descriptions, prices, categories, shipping information, and reviews.
Menus, headers, and footers, fully customizable and “shop sidebars” for widgets, are some of the other notable design elements.
Magento Marketplace
Magento is a popular open-source platform many retailers and brands use to launch their e-commerce platforms.
Additionally, the platform offers a multi-vendor marketplace extension that turns your eCommerce store into a multi-vendor marketplace where sellers can register to list and sell their products or services online. Moreover, Magento with Marketplace has a vibrant plugin development community.
Magento with Marketplace can benefit those who prefer a simple e-commerce store but intend to convert it into a marketplace in the future. It is a scalable and feature-rich platform that can meet various needs. On the other hand, Magento with Marketplace requires basic technical knowledge and can be somewhat complicated for small shops.
One thing to keep in mind is that if you want to customize with specific plugins, you will need to work with the agency that developed the marketplace plugin rather than Magento directly, despite the open-source nature of Magento.
Drupal and Ubercart Marketplace
Drupal is a free, open-source content management system, similar to WordPress, that lets you create a blog or website and start publishing your content to sell products online.
read more: The 11 Best SEO Plugins for WordPress.
By itself, Drupal lacks the functionality to create a multi-vendor site; however, the Ubercart Marketplace module changes that.
Unfortunately, using Drupal and Ubercart requires some knowledge of website development, as it’s not an out-of-the-box solution for beginners without design experience.
That said, both sellers and admins benefit from the Ubercart module’s robust tools and profile management centres.
Sellers can track and fulfil orders, as well as view their own sales reports. Also, it integrates with PayPal Mass Payments to distribute payments to sellers.
PrestaShop and Agile
PrestaShop is a self-developed e-commerce solution and also a French e-commerce solution. PrestaShop has come a long way in recent years, and now you can manage your site through an online interface and experiment with some handy design tools.
To create a marketplace site, you must integrate your PrestaShop store with the Agile Multiple Seller module. This module allows multiple sellers to list their products while the admin manages the whole system.
This module includes the majority of the standard features you would expect, but it is a bit lightweight in terms of functionality compared to Sharetribe or Magento.
A standout feature is the three payment collection modes, which allow sellers to collect payments, admins to collect payments, and sellers to split costs.
Our advice for creating your Marketplace
When it comes to creating a marketplace, you have several options. First, you can choose to develop the Marketplace yourself.
This option gives you complete control over all aspects of the Marketplace. However, you must have specific technical skills not to be held back in development.
You can also work with an agency specialized in creating a marketplace that will make the platform for you.
This option will give you more flexibility in customizing the Marketplace to your needs. In addition, you will not have technical constraints because this part will be entirely delegated.
Finally, you can use a turnkey solution to create your Marketplace. Turnkey solutions are pre-built marketplaces that you can install and start using.
This option is often the fastest and easiest way to get started with a marketplace, but it has some limitations in terms of customization.
Whichever option you choose, there are a few key elements that all successful marketplaces have in common. These elements are as follows.
- A robust product catalogue: A marketplace must have a wide selection of products to attract buyers.
- A user-friendly interface: Buyers should be able to navigate quickly and search for products in the Marketplace.
- A user-friendly interface: Buyers should be able to navigate quickly and search for products in the Marketplace.
- A simplified checkout process: The process should be quick and easy, with as few steps as possible.
- A simplified checkout process: The process should be quick and easy, with as few steps as possible.
- A robust payment system: The Marketplace must have a secure and reliable payment system to protect buyers and sellers.
Creating a thriving marketplace is no small feat, but it is possible with proper planning and execution.
By keeping these vital elements in mind, you’ll be well on your way to creating a marketplace that buyers will love.
Criteria for choosing a marketplace solution
To create a marketplace, you must find the solution that best suits your needs, which must be defined to your specifications.
The multi-vendor marketplace solution is the same as other e-commerce software but allows multiple merchants to offer their products.
Therefore, the owner does not need to maintain an inventory but promote the use of other companies in the market. Although a business can promote its products or services on the platform, it aims to attract other merchants to the site.
So, to have the best marketplace website, there are a few essential features that the marketplace solution must have:
- Sellers: The platform must support the integration of third-party merchants as sellers.
- Dashboard: The platform should provide sellers with a dedicated front-end dashboard.
- Products: Sellers must be able to upload and manage their product listings and orders.
- Tracking: The admin should be able to track every third-party seller on the platform.
- Revenues: A commission management system must be provided. Earnings: Every seller should be able to track their earnings analytically.
- Payments: Admin should find easier ways to transfer earnings from sellers like PayPal, Wise, Stripe and other payment methods.
- Communication: A multi-channel communication system for the seller to admin, admin to the seller, customer to admin and customer to the seller.
- Rating: Customers should be able to write product reviews or share their shopping experiences.
- Refund: A refund or return management system that transfers money from customers to sellers through the admin.
- Subscription Model: A subscription management system allows the admin to generate additional revenue by providing value-added benefits to members.
- Ultimate Control: The admin should fully control the platform, sellers, and customers.
- Scalability: The ability to handle many users, products, vendors, and third-party APIs.
- Economical: The main objective of ready-to-use marketplace building software is to reduce the overall cost of developing, deploying and maintaining the platform.
In summary
Keep in mind that all of the solutions on this list offer essential functionality for creating a self-contained multi-vendor marketplace.
The only difference is in their software delivery model, which significantly impacts usability and cost. A self-hosted solution, for example, is more challenging to use than a SaaS or managed solution, but it offers a higher level of customization and platform control.
Similarly, a SaaS solution requires recurring monthly payments for many managed services. Therefore, it is up to you to better understand your priorities and requirements before choosing a software delivery model and the solutions that fall under the respective models.