PrestaShop Marketplace Module - An up to date marketplace extension for your store
PrestaShop Marketplace module is an eCommerce marketplace extension which allows a PrestaShop online store to create its own marketplace on the website. Before going any further, let us have an overview of eCommerce marketplace extension For instance, let's assume that I have an eCommerce website where I sell online products. At present, I sell my own retailed products and for this, I have to manage an inventory of my own. Suppose, I want other sellers to sell their products from my website so that I do not have to manage an inventory of my own for the product fulfillment. The case, I am talking about is the transformation of my eCommerce store into a marketplace. For this to occur, I need to integrate a marketplace extension on my current PrestaShop website. This integration will extend the functionalities of my store to a proper marketplace website where I can start allowing third party vendors and seller to sell on my site. The complete solution for this case is the “PrestaShop Marketplace module�, an eCommerce marketplace extension developed by Knowband. It is a very powerful extension for PrestaShop eCommerce sites that converts the existing online store into a marketplace. PrestaShop Market Place Module provides a facility to the store owners for accepting seller registration which let them sell their products with your eCommerce site. Sellers will get a control panel where they can have a complete access to their products, orders, invoices, shipments etc.
Case of 100% FDI in online market Places: The Indian govt has permitted 100 % FDI in the marketplace format of eCommerce in order to attract the foreign direct investments. According to this, a marketplace is not allowed to sell more than 25 % products from a particular vendor or brand. It seems that this new rule will allow the smaller vendors to share the platform with the large names. For example, earlier some of the marketplaces had an abundance of products from a particular vendor only where the smaller vendors did not get a chance to sell their products in right quantity on the marketplace. PrestaShop marketplace module shows the flexibility to be customized according to this rule of govt on demand. Marketplace admin has got all the access: 1. Marketplace admin has the access to monitor and manage the lists of sellers and vendors associated with the marketplace. This feature helps the admin to track the activity of all the individual stores and retailers associated with the store. 2. Sellers has to send a request to the store admin for adding new products to their store which is later either accepted or denied by the marketplace admin. 3. The commission rates for each vendor can be managed by the store admin. Admin can assign same or different commission rates to the individual vendors. 4. Admin can view the transactions of a seller and also see a detailed report of each transaction carried by any seller on the Marketplace. 5. Simple and user-friendly interface for both admin and sellers. The user interface provided to the sellers and the marketplace admin is very simple to use, and can be understood effortlessly without any technical knowledge. 6. Admin can enable or disable any seller on the marketplace. This gives an ultimate power to the marketplace owner for controlling the activity of any seller on the platform. 7. Admin has an access using which he can ensure that only the selected categories of products are allowed to be added by the seller. The number and categories of products to be shown on the marketplace is finally controlled by the admin. However the sellers can decide their own categories of products, but they have to first get it approved from the admin else it won’t reflect on the marketplace site. 8. Notification is shown to the admin whenever a new user has been created. Thus,
the admin can have a track of each and every seller on the store. Marketplace is the need of the hour. Almost every well-known eCommerce store has converted itself into a marketplace. This prestashop module is a perfect answer for those who are looking to convert their PrestaShop store into a marketplace.