5 Best eCommerce Software to Build Multi-Vendor Marketplaces

Multi-vendor marketplaces allow sellers to sell not only physical goods but also digital goods. When third-party vendors host their respective products, customers are given an array of choices to choose from. Owners of the multi-vendor marketplaces earn commissions from the sellers and in the current scenario, even offline businesses are adopting e-commerce. The best thing about starting an online store is that it requires minimal investment. There are a plenty of multi vendor marketplace software and judiciously choosing the best eCommerce software can seem a bit overwhelming. It is in this spirit I have taken pains to come up with the following 5 best ecommerce software:

1. Genstore

Many popular multi vendor marketplace software are built on PHP framework. Long gone are the days of PHP. Today, Node JS platforms are eliciting praise for right reasons from eCommerce entrepreneurs. PHP platforms are known to consume huge amounts (in gigabytes) of RAM. PHP platforms require a huge variety of hardware to handle the load. On small servers, PHP platforms are in-efficient. Keeping all such frailties in mind, Genstore was designed by a team of experienced ecommerce entrepreneurs and expert growth hackers.

Genstore comes with a host of lofty features such as the following:

Robust Admin Panel: This module lets business owners of the eCommerce platform handle everything right from content management and user management to account management. This module is packed with dynamic overtones and hence, everything is automated.

Dispute Management System: Genstore follows the PayPal’s way when it comes to handling all sorts of disputes. As soon as a dispute is raised, it is sent to the dedicated dispute resolution team. Sometimes, admins interfere if the dispute is left unsettled.

Physical and Digital Products: The implications of selling physical and digital products on the same multi vendor marketplace software are clear. Different types of products shall be associated with different shipping methods.

Revenue Channels: This where even the best eCommerce software goof up. But Genstore does a great job. Some of the revenue channels are:

• Seller subscriptions
• Commission percentage against each and every sale
• Banner Ads
• Prime Delivery Options
• Sponsorships   

Other features of Genstore are listed below:

• Unique Seller Dashboard
• Native Android & OS apps
• Email Marketing
• Instant Facebook Messenger Integration

2. Shopify

Shopify has pre-defined customer profiles. Once Shopify identifies the correct customer types, it tailors the platform so as to cater to their requirements. Its SAAS services are affordable and many customers find the 1 year subscription plan to be economical. Yet another aspect endearing to Shopify is the seamless inventory management module. Apart from blog marketing and tracking shopping cart abandonment, Shopify multi vendor marketplace software takes care of shipping and courier integration. As Shopify is a global hosted service, it runs round the clock and adheres to PCI compliance.

However, Shopify isn’t the ideal content management marketplace software. If you want every category of products to be associated with unique videos and other multi-media, Shopify has its own set of limitations. Shopify charges a transaction fee on every sale of item made through a third-party payment gateway. Shopify is SAAS based platform. It clearly means that you aren’t the owner of your platform. Degree of control is never 100% and in the long run, this may not sit well for serious entrepreneurs. Owing to such limitations, many users have migrated from Shopify to Genstore.

3. Sharetribe

Sharetribe is yet another award winning multi vendor marketplace software which lets you create your own marketplace for services, products and rentals. Sharetribe is specially designed to build peer-to-peer marketplaces and this is what differentiates it from other best eCommerce software.

I stumbled upon Sharetribe registration page and I strongly feel that its propensity to tap individual sellers is pronounced. Organized stores come second to individual seller stores. The search functionality deserves a special mention. Users can filter based on keywords, categories and prices. Once a buyer purchases a product(s) from a seller(s), feedback can be provided. Just like Genstore, Sharetribe lets you sell both physical and digital products.

4. WordPress with WooCommerce

At the very outset, I would like to emphasize that WooCommerce is a plugin. In other words, WordPress should be first installed on your system / web server before installing WooCommerce. A standalone WooCommerce plugin will be of no use in the absence of WordPress. Under the hood, to experience the complete benefits of WooCommerce plugin, you are required to install a WooCommerce optimized theme/ design. Entrepreneurs who already own a WordPress site and are looking to add an eCommerce extension can find solace in WooCommerce plugin.

WooCommerce lets you sell not only physical and digital products but also affiliated products. Apart from PayPal and Stripe payment gateways, other gateways such as Authorize.net, FirstData and PayFast are also integrated. Shipping settings are completely flexible and in certain cases, free shipping can be configured. Since WooCommerce works in tandem with WordPress, you can avail the benefits with effortless ease. You can constantly check the stock levels, monitor inventory and manage the same. Also, tax handling on sales and automatic tax calculations are in the offing.

5. Yo!Kart

Ever since its launch, Yo!Kart has been in the good books of the eCommerce fraternity for all good reasons such as multi-layer security, intuitive interface, attractive and customizable storefront etc. Yo!Kart is provisioned with other features such as newsletter management, sales and product management, discount coupon generation etc. If you are thinking of identifying the market response before investing heavily in a multi vendor marketplace platform, Yo!Kart is for you. Its yearly packages are economical and absolutely pocket friendly.

If you have any doubts or concerns, feel free to drop a line or two in the comments section. I shall reply in a day or two. Keep watching this space for insights on best eCommerce software. Subscribe to our newsletter to keep yourself abreast of upcoming trends in eCommerce. Our best wishes are with you and your eCommerce venture. Cheers!