The area of e-commerce triumphs in the business sector for the past few years. The future also claims that e-commerce platforms are going to be the backbone of online marketplaces. Rather than defining as an act of doing business activities on the Internet, it refers to buying and selling products and services on the Internet through a website. An e-commerce website has features that make it easy for customers to browse for products, pick them out, put them into a trolley, and then pay for them at checkout.
Many people are migrating from physical stores to buy goods and services on the Internet. Today, 60% of shoppers in developed countries go to the Internet to purchase products and services. This method of shopping is preferred because it is convenient and also people can shop from their houses.
Unlike a regular brick and mortar store, an E-Commerce store always stays up and working 24/7. Customers can get products online and buy products at any time. There are many benefits that e-commerce gives businesses:
Comprehensive descriptions of products:
An e-commerce site provides its customers with data sheets that contain all the features and characteristics of products. This datasheet also contains ratings given by other customers who have already bought this product. Also known as a product catalog, this document provides the customers with all the information they need about the products that they want to buy. Loaded with this knowledge, the customers can make informed decisions as they buy products.
Available through the search engines:
Billions of people use search engines to find products that they want to buy. With a physical store, it is challenging to reach such a large market. However, an online store can quickly accomplish this. By having an online store, a business can reach more customers than with physical stores.
Reduce the cost of maintaining and managing inventory:
In a physical store, various costs are involved to manage the inventory. It costs time and money to manage inventory. Physical means of managing inventory are slow and costly. However, it is easier and cheaper to maintain inventory on an e-commerce website.
It is computerized, hence extremely competent:
An e-commerce website can keep selling goods and services throughout without getting exhausted or getting slow. This is because the whole system is computerized. It is effective and always accurate. As such, when a customer orders a particular product, they will get it delivered to them.
Role of Multi-Vendor Store in E-Commerce Businesses
An online marketplace where buyers and sellers initiate or conduct transactions can be referred to as multivendor marketplace. A multivendor marketplace enables you to expand your online commerce store and allow multiple vendors to sell on the same platform. It helps in establishing a profitable business successfully.
Benefits of setting up a multi-store:
- A vast range of products
The products sold on a multi-vendor store are featured by many vendors. Any e-commerce store that provides a massive variety of products is bound to generate traffic and sales quickly.
- Ease of handling
Taking care of logistics, inventories, product additions & upgrades, pricing and various other details that come with running an online store requires humongous efforts. Multi-vendor store shifts these necessary changes to individual merchants. Because sellers have to take care of their store only, it doesn’t remain an uphill task. So, this makes multi-vendor shopping cart a win-win business equation.
- Lesser expenses
Every seller can manage their shop on their own, you don’t need to hire people to do it. Your team can spend more time answering critical questions related to scaling and marketing. With an experienced development team by your side, you can drastically bring down website maintenance expenses.
- Small setup costs
Initial costs required to set up an online multi-vendor store gives an excellent opportunity for investors. It also helps in generating immense profits, and these stores promise site-owners a better future.
Merchants on multi-vendor e-commerce platforms can manage product details, prices, and areas of delivery, make additions, and updates as per their convenience. Flexibility comes with no requirement of technical knowledge.
iScripts provides you a chance to make a better lead in your business with iScripts MultiCart. You can start your own online business by giving your customers the ability to create your own e-commerce marketplace with multiple vendors in the backend.
iScripts Multicart is a robust e-commerce platform that allows the user to quickly create their online marketplace with multiple vendors in the backend. Several kinds of hostings also make the script more adaptable to environments.
The enlightening features included in the latest pack of iScripts Multicart are:
iScripts MultiCart Mobile App
iScripts MultiCart comes with powerful iOS and Android mobile applications which makes access to your shopping cart more easily. The implementation of these apps permits full-time access to the website. The Apps are available for both the seller as well as the buyer. Therefore the sellers can upload or update their product details even when they are unavailable at the locations. The buyer app lets customers to choose an appropriate product made available by sellers and to purchase them as well. App implementation also shows the compatibility of the Multi-vendor cart.
Advanced payment methods
Payments are initially on two sets, either directly to the Admin or split payment between Admin and seller. Several payment gateways are implemented including PayPal, Dwolla Payment, Authorize.net, WorldPay, BluePay and so on. Admin can directly set payment options.
An implemented feature in the latest version of iScripts Multicart. This is an engine plugin that helps e-commerce platform owners to suggest and sell “frequently bought together” products. This feature also helps the customers to choose the best products associated with their purchase. Recommendation Engine can also be mentioned as an advanced option which promotes the sales for the vendor side.
Scheduled publishing of products
The admin can publish products under any particular seller. Preferably the products can be published on an estimated schedule later as per the time dependency. This option helps the admin to have additional control over the sellers about the payment policies. Only the published products get displayed on the home screen. The latter option can be set to any fixed time or date.
When you limit your product’s availability to only one language, you limit your potential customer base to a fraction of our world’s billions of population. If you want your applications to reach a global audience, cost-effective localization of your product is one of the best and most economical ways to reach more customers. There comes the implementation of multiple languages. Admin can add languages by translating files to the required language.
The Stripe Connect payment gateway is a powerful solution for Multi-Vendor web stores which enables you to accept main credit cards worldwide, automatically split payments to several vendors and save sensitive credit card information in Stripe. By introducing this feature into iScripts MultiCart, now the payments are automatically transferred to the vendor’s account without even an admin approval; hence reducing task for admin to great extents.
Bulk product and Image Upload
Product Management seems to be a more significant issue in many circumstances, but still, it can be rectified by methods of bulk product and image upload options in iScripts Multicart. Either the admin or the corresponding seller can upload product details in the form of a CSV file. Every option available during the product upload are also available in the bulk upload procedure.
Digital Products and physical products
iScripts Multicart supports both physical as well as digital products. Gift certificates and other digital products can be made to sell at the available platforms. The option makes the Multi-vendor store more adaptive to the sales atmosphere.
The numerous features of iScripts Multicart include:
- RSS Feed for the seller.
- Mixed Product delivery
- Social media for sharing or Like products using Facebook, Twitter, Google+, Pinterest
- Return Merchant Authorization for Customers
- Provides gift vouchers
- Wide range currency list
- Integrated Shipping Method
Ready to create your own multi-vendor marketplace? Try it out for yourself right now See the Free Live Demo: iScripts Multicart. Experiment with the demo to get a better feel for the site you could own and market. You control the backend of the site and choose the way it will function for your users.
Have questions about our web software and mobile apps and how it can work with your existing business or online business idea? Call us at (312) 423-6728 with any questions you may have. We’d be happy to explain how our software works, including any additional business, needs you may have. We also offer custom development of web and mobile apps at a reasonable rate.