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Updated by Kanuj Sharma on Dec 29, 2017
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Kanuj Sharma Kanuj Sharma
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Top 5 Features to look for while choosing a Marketplace Software.

When you’re a company that sells products produced by a large number of companies, it can seem difficult to transition to an online business, and manage the large number of sellers that you have to deal with. Today,

Seller-specific Customization

Detailing and advantaging the first point, it is incredibly important for a marketplace software to offer the ease of administration for its Sellers. Seller related settings should be full-featured and highly customizable. These include various types of policy control, such as return policies, the ability to set access of the seller’s to the site’s catalog, and to generate statistics based upon seller activity.

Multi-vendor Support

In many use cases, The Online Store operates with just a single seller and the software is made keeping the same in mind. But for a company that wants to sell products through a number of vendors, it is of the highest importance to have support for multiple vendors in their marketplace software. This allows for separation between sellers and offers many more features, especially when two sellers are selling the same kind of product.

Customizability

A software is remarkably efficient if it allows to customize it’s almost every feature to suit the different needs of different users. If it does not allow you to set up various themes and discounts, it is probably not the best choice. There are various choices that are specific and unique to a business, and these choices are best left to the individual using the software, and therefore various customization options should be available.

Extensibility

The software must provide options for further customizations and add-ons. This can be through a store that allows the community of users around the software to build extensions and add-ons, and monetize them, or through on-demand features that could be requested and paid for to be provided by the makers of the software. There are often various add-ons required, such as payment gateways for things like PayPal, and feature additions for shopping carts, as well as design templates for the site, and all these contribute to the usability of the site.

Open Source

Though in the history of software, it is not believed to be the priority feature to look for, To believe It is best to use a software which is open source and has the scope and capacity to extend it to the store’s usability. This has various advantages and to list a few, Software that is open source will have its complete source code available, which allows for the company to make its own customization and to modify it according to its specific needs if the need be.