You want to grow your business? You can:
But which of these options is right for you?
What if you could do them all quickly, and easily, with minimal disruption?
What if flipping your thinking could flip your business?
In this article we explain how you can turn your suppliers into your sellers by using Marketplacer and Magento 2. Expand your product range and turn your existing Magento site into a full-scale online marketplace - without investing in stock, warehousing, or disrupting your current technology stack.
Sell what you don’t own
“By 2023 organisations that have operated enterprise marketplaces for more than one year will see at least a 10% increase in revenue.”
If you are a typical retailer or wholesaler, it’s likely you already have a large range of trusted suppliers. However, for each supplier you may only stock a small percentage of their products due to inventory, storage, and logistics costs.
Did you know that by becoming a marketplace, you can sell your suppliers’ entire product ranges without purchasing any additional stock?
As a marketplace you can also introduce new revenue streams such as membership subscription and commission on sales. Typically, these commissions are in line with eBay and Amazon platforms but may be as high as 30% of the good’s cost.
Become a marketplace
There are a couple of ways that you can approach becoming a marketplace.
3 reasons to go headless
“By 2023 80% of marketplace implementations will be headless.”
Going headless with the Magento 2 connector
The Magento 2 connector extension is a prebuilt headless connector that allows you to connect your Magento 2 implementation with the Marketplacer platform.
Marketplacer allows you to create an online marketplace connecting directly to your suppliers’ own eCommerce platforms.
The Magento 2 aspect allows you to retain the look, feel, and user experience of your own eCommerce site whilst expanding your backend functionality with Marketplacer. This dramatically increases your product range by using drop shipping from third party sellers and provides a portal for them to easily manage their products via your marketplace. You can even keep your own stock in Magento and just use Marketplacer for the additional ranges so you can compare data.
You also don’t need to be concerned about disruption to your current technology ecosystem as by simply making a couple of additions to your website, your marketplace fits neatly around your current stack.
You can take advantage of simple tools without the need for custom integrations.
Easily connect with your sellers
Your suppliers are added as sellers into Magento including logos, contact details and store details. You establish how the seller is charged for the service - by a monthly subscription fee, commission per sale, or combination.
Your new sellers can use Marketplacer’s M Connect seller integration platform to sync their own eCommerce platform like Magento 2, Shopify, BigCommerce or WooCommerce and their full range of products can be imported into your marketplace directly from their eCommerce system.
Each seller can sync their products via M Connect to the Marketplacer Seller Portal and are connected by the Marketplacer control centre. The prebuilt extension does the work, sending seller information and products directly to your Magento front end.
You now have linkage to your third-party sellers and their products within your own eCommerce solution.
Provide a seamless customer experience
Using a headless marketplace solution gives you full control over your customers’ experience.
Customers can browse and purchase your in-stock products while having access to an expanded, and potentially limitless, range of additional third-party products. They can access the full range of your sellers’ products while interacting with your distinctive brand and user interface.
You still have the same Magento features that enable customers to see size, add to cart, and have the same experience of your site, but you now have the option to identify different sellers on product view, or even at checkout. You can even promote different shipping options such as free shipping over certain amounts.
It all depends on what you want to offer!
Your customers’ experience is paramount. With a headless implementation they have the same experience when interacting with your marketplace as they have with your Magento 2 storefront.
Fulfill orders at arm’s length
The headless module then passes that order back to Marketplacer so they appear:
- Back into the control centre
- Into the Seller Portal where they have the option to fulfil, or
- Back into the seller’s eCommerce platform for fulfilment along with their own storefront orders.
Once the tracking number and carrier are entered, the details flow back to Magento, and update in their seller portal.
Flip your thinking and flip your business
Think differently, expand your range, increase your revenue, and change your business.
With the Marketplacer Magento 2 connecter, you are no longer just an eCommerce site. Instead, you are an eCommerce marketplace with a far greater customer offering, and a world of opportunities beckoning.