Top 5 Multi-Vendor Marketplace Platforms
SOFTWARE TO LAUNCH A MULTI-VENDOR MARKETPLACE

An online marketplace platform is a web application that aggregates product or service offerings from multiple vendors resulting in a wide catalog selection and a large target audience served.

The stats reveal a strong customer interest in marketplaces – as of 2019, sales via online marketplaces accounted for almost a half (47%) of total ecommerce sales sharing the rest among branded websites and other digital channels. To monetize this business format, marketplace owners employ a commission revenue model but can also use the space to sell their own goods. Marketplaces can take B2C and B2B directions alike.

MARKETPLACE FEATURES FOR THE CORE BUSINESS ROLES

Marketplace software has been evolving for a couple of decades to offer the required convenience to marketplace providers, vendors and end customers.

Marketplace provider
experience

Application settings configuration

Quick vendor onboarding

Vendor management including monitoring business performance

Branding.

Investment portfolio.

Business licensing.

Business licensing.

Business licensing.

Business licensing.

Business licensing.

Marketplace provider
experience

Application settings configuration

Quick vendor onboarding

Vendor management including monitoring business performance

Branding.

Investment portfolio.

Business licensing.

Business licensing.

Business licensing.

Business licensing.

Business licensing.

Marketplace provider
experience

Application settings configuration

Quick vendor onboarding

Vendor management including monitoring business performance

Branding.

Investment portfolio.

Business licensing.

Business licensing.

Business licensing.

Business licensing.

Business licensing.

BEST ECOMMERCE SOFTWARE FOR MULTI-VENDOR MARKETPLACES

A marketplace pursues a business model different from brand-owned online stores, making even the best ecommerce platforms insufficient to its specifics by default. We overview top platforms that allow building a marketplace from scratch or evolving your existing e-store into a marketplace.

Magento Commerce

DESCRIPTION

Forrester and Garner rate Magento as a Leader on the ecommerce market emphasizing its ability to keep up with ever-changing ecommerce demands. Highly customizable to deliver on any business ideas. Shines in B2C and B2B sectors alike. There are currently 2 offerings from extension vendors for a multi-vendor marketplace setup and about 60 add-ons with complementary functions. Smooth transition to a marketplace model for businesses that already have an operating web store built on Magento.

PRICING Marketplace extensions average $150-350/one-time payment and functional add-ons fall in the range of $40-200 (full selection is here).

MultiMerch

DESCRIPTION

Forrester and Garner rate Magento as a Leader on the ecommerce market emphasizing its ability to keep up with ever-changing ecommerce demands. Highly customizable to deliver on any business ideas. Shines in B2C and B2B sectors alike. There are currently 2 offerings from extension vendors for a multi-vendor marketplace setup and about 60 add-ons with complementary functions. Smooth transition to a marketplace model for businesses that already have an operating web store built on Magento.

PRICING Marketplace extensions average $150-350/one-time payment and functional add-ons fall in the range of $40-200 (full selection is here).

CS-Cart

DESCRIPTION

Forrester and Garner rate Magento as a Leader on the ecommerce market emphasizing its ability to keep up with ever-changing ecommerce demands. Highly customizable to deliver on any business ideas. Shines in B2C and B2B sectors alike. There are currently 2 offerings from extension vendors for a multi-vendor marketplace setup and about 60 add-ons with complementary functions. Smooth transition to a marketplace model for businesses that already have an operating web store built on Magento.

PRICING Marketplace extensions average $150-350/one-time payment and functional add-ons fall in the range of $40-200 (full selection is here).

Arcadier

DESCRIPTION

Forrester and Garner rate Magento as a Leader on the ecommerce market emphasizing its ability to keep up with ever-changing ecommerce demands. Highly customizable to deliver on any business ideas. Shines in B2C and B2B sectors alike. There are currently 2 offerings from extension vendors for a multi-vendor marketplace setup and about 60 add-ons with complementary functions. Smooth transition to a marketplace model for businesses that already have an operating web store built on Magento.

PRICING Marketplace extensions average $150-350/one-time payment and functional add-ons fall in the range of $40-200 (full selection is here).

WHEN A CUSTOM SOLUTION IS A SMART INVESTMENT

All businesses are different, and yours may require an application architecture and functionality not offered by marketplace software providers. Though custom development is generally seen as a costly approach, it wins in this particular case. Building workarounds to existing platforms is no less expensive and may leave you with a slow-performing solution difficult to maintain and modify in the long run.

LAUNCH AN ONLINE MARKETPLACE WITH Smart Software

One needs an in-depth understanding of the marketplace business model and an optimal technology set to make a marketplace venture a success. You can foster the knowledge and competencies in-house or team up with Smart Software– an experienced ecommerce services provider that will save your time and take care of cost-effective marketplace implementation.

Market entry consulting

Taking a look at the target market to assess consumer
demand, historical market growth, social impacts,
more.

Exploring a competitive landscape: competitors’
products, pricing models, customer acquisition
strategies, customer feedback.

Giving a full and accurate understanding of industry
regulations.

Shaping competitive business positioning.

Scoping the target audience and picturing personas:
pain points, preferences, digital literacy, digital usage
habits, more.

Market entry consulting

Taking a look at the target market to assess consumer
demand, historical market growth, social impacts,
more.

Exploring a competitive landscape: competitors’
products, pricing models, customer acquisition
strategies, customer feedback.

Giving a full and accurate understanding of industry
regulations.

Shaping competitive business positioning.

Scoping the target audience and picturing personas:
pain points, preferences, digital literacy, digital usage
habits, more.

ABOUT Smart Software

Since 1989, Smart Softwarehas been providing IT consulting and software development services. The company’s cross-industry expertise in platform-based and custom development now encompasses healthcare, manufacturing, banking, education and entertainment to name a few strategic directions. For retail businesses, the team offers assistance in ecommerce implementation and automation of in-store operations.