What are the top features of the Magento 2 marketplace extension?

The Magento 2 Marketplace extension allows gaining more profits from third-party vendors. The Marketplace extension is specialized for the sellers and vendors dealing with online stores. It has a collection of extensions and plugins that helps to grow your Magento store. 

What is Magento 2 Marketplace Extension?

The primary purpose of the Magento 2 Marketplace is to improve customer experience. Getting Magento’s extensions through the marketplace is effortless. It eliminates the requirement for custom programming. The extensions are already programmed, reviewed, and tested by the developers. This saves a lot of money and time for developers.  

In the age of this intense competition, merchants are looking for strategies to grow their businesses. Every e-commerce business goes through challenging phases. It is essential to integrate the right extensions to enhance the functionality. The Magento 2 Marketplace is the best solution to add functionalities and features to your e-commerce. You can get control over your Magento store and add extra functions if required. 

What are the features for Admin in Magento Marketplace?

1. Add Unlimited Number of Vendors 

Magento stores deal with the growing number of sellers exponentially. It allows the admin to add vendors one by one or in bulk quantity. 

2. Marketplace Landing Page 

This feature helps to present your marketplace with an engaging landing page. The extension has built-in tools to build faster landing pages. It has customized templates and read-made CMS blocks to make this process easier. 

3. Vendor Management 

Vendors need advanced settings to manage their Magento store. This solution helps the admin to set the store through a well-organized dashboard. This makes the process seamless and efficient. 

4. Product Management 

The admin can approve and disapprove the products. They also get the freedom to restrict and allow the product categories. Admins can also assign various permissions and restrictions to the vendor.

5. Order Management 

This section helps the admin get a complete overview of the orders. Admin can manage orders, and if permitted, even the vendors can reduce the cost of order management. Admins get the right to enable the vendor to create invoices, credit memos, and shipments. 

6. Payments 

Admin can view all the transactions, vendor name, order number, the status of transactions, the amount paid, and other vital details. They can also generate payments for the vendors.

7. Commission Rate 

The Magento 2 Marketplace extension allows giving different commission fee options in the multi-vendor store. Also, they can set fixed percentage rates for each transaction or create a commission for a selected vendor.

What are the vendor features in the Magento 2 Marketplace?

1. Ease of Sign-Up 

It has pre-build sign-in tools that give a smooth sign-up process. This feature helps vendors create accounts on the marketplace using various social media channels like Facebook, LinkedIn, or Google. 

2. Product Management 

The seller can list the products in-store, track status, add or remove products. Vendors have the right to add attributes for the products if required. 

3. Payments

The vendor gets the ability to add and edit payment details from the transaction settings. They no more need to contact the admin to update this information. 

4. Vendor Account

The Magento Marketplace Extension allows vendors to create a separate storage account. The vendors can manage their profiles and view their performance in the Magento store. The dashboard will give full-fledged functionality to create and manage the store on the marketplace. 

5. Order Management 

It lets vendors get complete control over the order management. The Magento 2 Marketplace extension will give the vendors a statistical view of products, payments, and orders. They also get the right to generate invoices and handle the shipment of the orders. 

6. Shipping Configuration 

The vendors will get custom shipping settings and the capability to change the address details if needed. Many additional shipping methods can be integrated with the help of Magento 2 Marketplace extensions. 

7. Store Page Management 

It allows a vendor to elaborate more about their store and engage new customers. They can provide relevant information and customize the store.

8. Product Creations

Allows vendors to create various types of products. They can be configurable, grouped, simple, virtual, bundle, grouped, and downloadable. Vendors can also define categories, combine similar products, and sell multiple products in combos. 

9. Reports and Analysis 

The Magento Marketplace will provide real-time reports on the products and orders in different dashboards. It also has filtering settings that give a view of business performance.

What are the features for customers in the Magento Marketplace?

1. Mixed-Vendor Cart

It allows the customers to add products into their cart through different vendors. They can also complete the payment through all the methods available in the Magento Marketplace. The admin can view the amount paid to the vendor, and the seller can look at the expected amount.   

2. Reviews and ratings

It is essential to collect reviews and ratings to know which products are excelling from your store. So, encourage your customers to leave valuable feedback on your store. As an admin, you can easily manage the reviews and ratings to provide better services. 

What are the factors that make Magento 2 Marketplace worthy?

• Customer Support: You get Magento extensions to integrate live chat, help center, call support, and more. 
• Payments: Users can enhance the checkout process with multiple payment options. There are Magento plugins that provide ease of transactions and security. 
• Marketing: Magento developers can integrate extensions from the Magento marketplace for managing SEO, CRM, email marketing, and marketing automation. 
• Accounting: The marketplace has plugins for ERP system integrations, accounting, and taxes. 
• Shipping: There are solutions for cross-border fulfillment, order management, and address verification extensions.
•  Site Optimization: Website owners can choose the best extensions to improve site monitoring, performance, and hosting.

Conclusion

The Magento 2 marketplace extension has become a one-stop solution for vendors, customers, and admins. It will help if you have an experienced Magento developer to choose the best plugins to grow your business. It is vital to have a solid strategy to enhance your performance and grow in the market.