How much does it cost to build a multivendor e-commerce solution?
Today, starting a multi-vendor marketplace is a dream for many entrepreneurs. All this because of the strong impression of online marketing that cannot be avoided for promoting their business online.
Now before starting a multi-vendor e-commerce site, the big question is how much it will cost or what will be the overall budget is required to opt for a multi-vendor marketplace?
Simply like any other project the basic is the same that the cost of launching a multi-vendor e-commerce marketplace depends on the features and the type you are going to develop.
Of course, the budget can be different for startups and a well-established company. For startup companies, basic features that are important for your online store the cost will be minimum. For well-established firm costing depends on what kind of features they require and ready to pay for as per their e-commerce site?
Now here’s a list of most common marketplace platform features we ensure in our multi-vendor e-commerce store:
Admin: Only admin can use the dashboard to manage the product & user.
- Admin will be able to add sub-admin and users on the websites.
- Admin can assign permission to manage products & other modules.
- Sub-Admins can perform the tasks as per the permission of Admin.
- Super Admin can perform all the tasks and hold all authorities.
- Admin can do setting & configuration for the whole site.
Manage Product and Customer:
Admin has rights to manage the product and customer
It contains all information on uploaded products such as price, images, color code, & quantity so on.
The application contains the data & relevant information category wise.
While selecting the product, the application will have product notification from the selected user option.
Customers should get a secure server by managing the transaction.
Admin will have the right to add or remove products as per performance & quality services.
Review and Rating:
Based on experience Admin can easily rate & review the items or products.
Admin can also permit to provide free purchase when there are some offers for a limited period.
- Seller login / Registration
- Edit profile
- Manage Seller Profiles
- Review & rating display
- Customize Seller Profile
- Manage Products for Seller
- Manage Feedback
- Seller Configuration
- Import Products
- Product Type
- Product Tags
- Product Customization
- Order Configuration
- Manage Invoice:
- Invoice Configuration
- Invoice Customization
User Panel User Registration:
Users can easily register through social media such as Google or Facebook, email, phone number through verification code as OTP.
Here users can access many features such as Menu, categories, coupons, cart, recommend, etc.
By selecting the item to the user all the information will be displayed so that they can easily buy or add the item to Wishlist for later.
Payment gateway integration:
Through payment integration, a user can easily get Refund & Cancellation of ordered products.
Review and Rating:
Based on experience users can review & rate the items.
Sorting and Filter:
Users can simply customize filters as per their requirements such as pricing, quality, brand, etc.
Users can keep track of their purchase history by day, week, or month.
Users can add products to the Wishlist cart module for future purchasing.
After placing the order, the user will get every small information regarding product delivery through notifications & SMS integrations.
Users get offers and discounts every now & then weekly, Hot, Midnight, Daily, etc.
The estimate on multi-vendor e-commerce marketplace development in hours:
So now you know why the development of a multi-vendor e-commerce marketplace is expensive and time-consuming. However, the cost goo from $3.000-$50.000 depending on the feature list you want to implement in your site.
Overall here we will discuss what benefits a multi-vendor e-commerce solution have for all size of business?
Digital Presence–Today, every business is booming with digital marketing and that’ why people are more interested in a multi-vendor e-commerce marketplace platform.
Today as we already know that more than 70% of buyers do shopping from online stores. That is why the craze of multi-vendor e-commerce is increasing with several benefits it provides as an e-commerce marketplace
Scalability –The online store is based on a cloud-based platform and it is highly scalable. You can customize it as per your business requirement and expansion.
Reduces the cost –As compare to a physical store, the maintenance cost of inventory management is highly reduced.
Global access –Multi-vendor marketplace provides you a global platform so that anyone from the world can access your site and order your products online.
The Technical Essentials for High Performing Marketplace Platforms:
It is an adventure to start a multi-vendor e-commerce marketplace because its success relies on the right choice of components. The technical essential for performing marketplace depends on the following terms:
Easy navigation – Make sure that your marketplace platform has smooth navigation because every user likes to experience easy navigation throughout your site.
Search box & filters – Always ensure that customer should reach their required product pages through proper search, filter, & effective listing.
Chat support – chat support is one of the most important features of any e-commerce platform. Here your customers will share their quires with you through brief chats so that you can help them out.
Integration with payment gateway – Not every customer will prefer to pay through visa cards, in this case your site has to provide them multiple payment methods integrated into your marketplace.
Rating & Reviews – Many users like to review & rate your brand, product, & services. Provide them the Rating & Reviews feature so that they can write what they think about your product & services.
Push notification – Push notifications can grab your customer’s attention by playing a major role in the success of your marketplace.
Security – A strong customer trust is one of the important things every business requires so make sure that your marketplace platform should have an SSL certificate. It makes them feel secure to market with you.
Many entrepreneurs prefer to create a platform from scratch rather than readymade marketplace software. The development process includes many stages as below features so prepare for a long journey.
Open Source Solutions for E-Commerce Businesses!
It is important to research each platform and understand its pros & cons. So always opt for a scalable & powerful marketplace solution able to support basic e-commerce websites.
There are few amazing open-source multi-vendor e-commerce software that enables businesses to launch a website at affordable costs by providing you a reliable solution.
Here we have prepared a list of best open source multi-vendor e-commerce platforms:
Drupal Commerce - A Drupal module is popular because of its security & high performance. It is used by professionals therefore its interface may be a little complicated.
OsCommerce -It is one of the popular e-commerce solutions including many plugins & add-ons but it doesn’t scale well & requires more maintenance as compared to other solutions.
OpenCart - It is easy to use and open-source platform that can be suitable for small size projects and provides you a limited feature list as compare to other platforms.
Magento - It is an open-source e-commerce platform and also provides you a paid version if you need to scale your business.
Magento provides you enormous feature list that can be adapt by many different websites. Generally, you require developers to set-up your custom solution.
WooCommerce - It is a WordPress plugin that is easy to use and has great user support. It requires a lot of add-on expensive features such as theme, extensions, and so on.
It is impossible to estimate the cost of multi-vendor marketplace platform development without technical requirements. If you want your multi-vendor e-commerce store to start your business, Cart Coders provides you several marketplace services for mobile apps to enhance your mobile device for your clients.