Why Start a Multivendor Ecommerce Marketplace Store?
As a business owner it will be impossible for you to stock and ship all the items you are selling online. Stocking of items cause a huge pileup in dead inventory as well as incur a major warehousing cost which eats up your profit margins online. At this point a Marketplace model comes to your rescue which works on a just-in-time model for product order fulfillment. Through the Retaxis Multi Vendor Ecommerce platform a buyer on your store can create order for multiple items which is split automatically according to the sellers fulfilling the order. The sellers can thru their panel fulfill the orders and the system automatically takes care of the amounts to be recieved to paid to the seller.
This is the stepping stone of a marketplace where a seller registers on your store. At the time of registering a seller the solution takes care of seller authenticity docs which are proof of his business identity. It is only after admin has approved a seller account and the seller has uploaded his business proof documents that he gets an accesss to his dashboard to sell online.
As a seller enrolls and logs-in he can upload products in the system using a single product uploader module or using a bulk upload module on his panel. He can even edit products uploaded using the xls driven bulk editing tool. The products uploaded are sent to admin for approvals until which they are displayed in the pending bin of a seller.
As the products are successfully uploaded and submitted by the seller they are available to admin in his panel to approve/reject. The products that are approved go live on the site and are available for a purchase to the buyer. Admin can change product information, preview a product before activating, bulk approve products or even reject a product.
On the face of it the marketplace looks like an e-commerce store only and has all the features available in a standard e-commerce store. It allows guest checkout, COD purchases, Pincode validation, coupon code promotions and payment gateway integration. The orders created for items from multiple sellers get split automatically in the system.
Upon creation of an order an intimation is sent to buyer, seller’s & admin. The order split shows respective items in the panels of respective sellers. As they set an order as Ready To Ship a shipping manifest, packing slip & invoice is created automatically for the seller using the seamless integration with selected logistic partner.
The system handles order tracking using the AWBN no provided by the logistics partner and sends multi stage notifications to seller’s, buyer and admin. It adheres to a delivery SLA set by admin and also works on the product return policy valid post delivery of a product. Upon delivery a buyer also gets notifications to rate a product & seller.
The system takes care of product return as well as seller accounting for the same. As a product is returned it is classified as buyer fault or seller fault post which the items are either returned or reshipped leading to a cash refund, store credits or replacement of the item. In all the cases the system enables reverse pickups of the item and manages account of the seller.
We believe in empowering our clients with tools to manage operations effeciently, but in case you face a technical hurdle we are available on e-mails, phones & live-chat to help you. You get an access to our support articles and videos to setup and manage your online store.
The vendor dashboard is the main tool that helps a vendor to understand and manage operations in his business with the marketplace. He can manage his profile, payment method, products, orders, returns, refunds, commissions and accounts summary using just few clicks on his dashboard.
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