Online shopping malls, you can also call as Virtual malls are the internet based twin of physically existing shopping malls. They can be defined as a collection of multiple online shops within the same website, that enable a multi-vendor checkout system enabling retailers.
To sell in one portal and allow the consumer to check out with one single credit card transaction. Collections of many traders with different offers directly on the same website are also sometimes known as online shopping malls or virtual shopping malls.
It is difficult to believe that just 9 or 10 years ago, you could really only buy flowers and flight tickets on the web in the UAE, but now, as long as you have a Wi-Fi connection everywhere on cheap rates, you can order services from any part of the globe with just of your smartphone.
Over the past years, its online audience has been one of the fastest growing. IT infrastructure is developing rapidly across the region, resulting in high Internet penetration rates of over 90% in countries such as Qatar, Bahrain, and the UAE.
As more consumers gain access to the Internet and begin to appreciate the convenience of online purchases, online shopper penetration rates across the region are also growing, with Israel boasting the highest rate of all.
- Marketplace Disruption –
If we see particularly in the Middle East, there are a numerous number of small and medium size of merchants who wants to open an online shop under online shopping mall all because there are the huge and huge amount of opportunities but the main obstacle for them is the Platform because that is really less.
Souq.com is the only major (Horizontal .. in the next segment we will explain about Horizontal Marketplace) online marketplace in the Middle East who is dealing and serving thousands of customers since long.
Two types of Marketplace in E-commerce:
- Horizontal and Vertical
We all know the there are two major types of marketplace present and without knowing the difference between these two it’s so difficult to survive in this competitive time. We all know that to succeed in e-commerce business we must know about the horizontal and the vertical marketplace.
- Horizontal Marketplace
In general, the horizontal marketplace is a platform where you can find products on various categories whereas vertical marketplace is a platform where you can find specific category products. Or in layman language, the horizontal marketplace is a platform where you can find multiple products in multiple categories.
In Horizontal Marketplace you can find multiple products in multiple categories, just like Souq.com where you get everything very easily, you name it and you get it. Numerous horizontal marketplaces are available in the market toady where you can get everything without going any other web site or without any other obstacle.
You can see many names as examples of horizontal marketplace like – Souq.com (especially in Middle East Countries)
- Vertical Marketplace
In the vertical marketplace, the seller offers products in a particular category focusing the specific sector or in which vendors offer goods and services specific to an industry, trade, profession or another group of a customer with specialized needs.
This will cover the industry from top to bottom offering products that fall into the category. It goes further by targeting niche markets or those types of products which are able to categorize according to the customer or the user.
The sellers in this marketplace are termed as specialists retailers, who are the specialist only for categorize products like handicrafts, creative products.
For example –
instacart – where you get hand picked grocery with the limited time under one website.
And if we talk about Vertical Marketplace in the Middle East, then we got to know that there is a huge need for this type of marketplace as there are very less in those countries. Like there is now a marketplace for grocery or doctors or anything which we use in our daily life.
Is a computer program which conducts a conversation via auditory or textual methods. Which means instead of humans, robots will reply on the chat. B2C purchasing cycle should always be short and productive, that can increase the sales. We have the Chatbot feature in Opencart Chat.
- There is a need of scalable marketplace solutions. There are a wide array of choices from which you can select the marketplace platform like – Magento, Opencart, WooCommerce, Prestashop, Odoo, Joomla, etc.
- Open source is something that can fill the gap. You can choose a cloud hosting service like the Cloudkul, AWS(Amazon Web Services – Gain free one-year hosting).
- All of the platforms will work with almost all types of hosting platforms like – Host Gator, and others.
- Webkul’s products support RTL(Right to Left) and LTR(Left To Right) including the mobile apps. The localization is very high and is almost as important as building trust.
- Localization is a key in every way in terms of SEO factor.
- The Google results that are populated on a web browser are mostly the local results that are populated according to the location of the search. You surely can get the benefit out of localization by attracting any customer base either native or Arabic or the ones using LTR searches.
We support almost every platform for E-Commerce, and that too on very Affordable Rates (you can click the links given above and it will navigate to Our Store, where you get whole information includes prices)
Our Webkul offers the seller the ample types of marketplace platform like-
As we know Souq.com is Multivendor Marketplace which is so much popular in MENA region. This feature is very much beneficial for the store owners to display their store in various languages to their customer.
It will give many benefits like- you can get the language benefit from your local customers, customers will feel familiar with your store and they would like to purchase products only from your store.
This is the beauty of MOBIKUL multivendor marketplace that, it is support Right to Left(RTL) and Left to Right(LTR) at the same time.
The main concern is, it is not just about the language, it is the complete view and template in RTL and LTR.
All the products support RTL(Right to Left) and LTR(Left to Right) those languages like – Arabic, Hebrew and Persian even in mobile apps also. Webkul products are the best package to convert your web shop into an online shopping mall. We all know how much localization is important these days in terms of SEO.
Because, in this today’s super competitive market, SEO is more important than ever. Search engines serve millions of users per day looking for answers to their questions or for solutions to their issues or problems.
- Leads generated from SEO close at an average of 15% which is 12% higher than the conversion rate for outbound leads.
- SEO is also very important for the smooth running of big websites.
- SEO is good for the social promotion of your website as well. People who find your website by searching search engines like Google or Bing are more likely to promote it on social media channels like Facebook, Twitter, Google+ etc.
So the next big thing that comes to mind is Multilanguage Support(that attracts each and every region). You live in any corner of the world and use any language, Webkul products gives you multilanguage support. MOB Multilanguage Extention. Odoo Bridge For Magento Multi-Language is an extension module for our Odoo Bridge For Magento (MOB) Base module.
It is the useful extension for those who are operating Magento and Odoo in multiple languages. If you are already running Odoo Bridge For Magento (MOB) Base module and you want the export of product’s, categories, attribute’s translations to be exported and updated between Odoo and Magento in multiple languages,
Then “MOB Multi-Language Extension” is the right product for you. It has some features written below-
- It allows you to export/update all the translations of products and categories.
- It will also Export Attribute and it’s Options Translations.
- It will export customer language according to Magento store.
- Also compatible with the latest version of Magento 2 and Odoo 8 or 9.
This is how the module looks after installation:
The case study is incomplete if we will not explain about the Payments Methods and Shipping Methods:
1. Magento Marketplace Paypal Adaptive Payment Extension – Magento Marketplace Paypal Adaptive Payment will split the payment among seller and admin dynamically. This module will work accurately with Paypal Parallel and Chained payment method.
2. Magento Marketplace Stripe Payment Gateway – Magento Marketplace Stripe Payment Gateway module allows customer from all over the world to make payment through Stripe Payment Gateway. Under this module, the sellers can add their stripe account and payment is split between sellers and admin at the time of payment. Also, customers can save their card details at checkout and make their purchase with the use of saved card.
3. Magento Marketplace MangoPay Payment Gateway – MangoPay Payment Gateway is available with your Marketplace store by which you can make split payment to multi sellers for your eCommerce store.
4. Magento Marketplace WePay Payment Gateway – Marketplace WePay Payment Gateway is available in your eCommerce store, provide trusted, secure, fast split payment for your all vendors on your Magento eCommerce store. It is an online payment service provider available in the United States.
5. Magento Marketplace Cash On Delivery – Cash On Delivery Facility is available with Marketplace. Magento Marketplace Cash On Delivery allows the seller to add Cash On Delivery to their product. Using this module seller can manage the order and provide the commission to the admin from their end.
6. Marketplace Citrus Payment for Magento – Marketplace Citrus Payment Gateway for Magento allows customers to make payment through the citrus payment gateway. Using this payment method customers can make payment through their citrus account, credit card, debit card, and net banking, etc. In this payment method, an admin has the option to transfer the payment right away to the seller or hold the payment and release it after few days.
7. Magento Marketplace Paypal Parallel Express Checkout Payment – It will split the payment among seller and admin dynamically.This module simplifies the checkout process and reduces checkout steps from six to one.
The list is not completed yet, there are many more payment methods are supported by Magento.
1. Magento Marketplace Table Rate Shipping Marketplace table rate shipping is very useful when the seller wants to define shipping/freight price as per their ease. shipping/freight price will be calculated based on CSV entered by seller and shipping cost will be calculated based on weight, postal code, region, country, state and many more options.
2. Magento Marketplace UPS Shipping Management: Using this module, Admin can provide UPS (United Parcel Service) shipping method for shipping products. UPS is the largest shipment/logistics company in the world and now it is with the Marketplace.
3. Magento Marketplace USPS Shipping Management: Our Magento Marketplace USPS Shipping module provides USPS (United States Postal Service) Shipping method for shipping the product. The USPS is the operator of the largest civilian vehicle fleet in the world and now it is with the Marketplace.
4. Magento Marketplace Canada Post Shipping: By using this, Admin can provide Canada Post shipping method for shipping products by which you get shipping rates from Canada Post’s API and but now it is integrated with the Marketplace.
5. Magento Marketplace Fixed Rate Shipping: Magento Marketplace Fixed Rate Shipping module allows the admin, to provide his own custom fixed rate shipping method for shipping products. The seller can add fixed shipping price for each product.
6. Magento Marketplace Multi Shipping: Shipping according to the seller in marketplace module is an essential feature for the buyers and sellers. That’s why we have created an add-on for the seller to allow this shipping method. So that buyer can select different shipping service from a different seller in the same order.
7. Magento Marketplace Shipping On Per Product: Shipping according to per product of seller in marketplace module is the much-needed feature for the sellers that’s why we created an add-on for seller add shipping price for each product from his panel.
8. Magento Marketplace FedEx Shipping: By using this, Admin can provide FedEx(Federal Express) shipping method for shipping products. FedEx is widely acknowledged as a world-class company and now it is with the Marketplace.
9. Magento Marketplace Aramex Shipping: By using this, Admin can provide Aramex shipping method for shipping products. The Aramex is the operator of the largest civilian vehicle fleet in the world. and now it is with the Marketplace.
10. Magento Marketplace Correios Shipping: Our Magento Marketplace Shipping module provides Correios Shipping method for shipping the product. The Correios shipping manages the Brazilian postal code system. Using this shipping module vendor/seller can manage their shipping and order from vendor panel print invoice, and can enter tracking ID, and complete shipping management from seller panel.
11. Magento Marketplace Fastway Shipping: Our Magento Marketplace Shipping module provides Fastway Shipping method for shipping the product to Australia, New Zealand, Ireland & N.Ireland, South Africa. Using this shipping module vendor/seller can manage their shipping and order from vendor panel print invoice, and can enter tracking ID, and complete shipping management from seller panel.
12. Magento Marketplace Free Shipping: Magento Marketplace Free Shipping module provides free shipping to the customer. Using this module seller can provide the free shipping facility to their products. With the help of this module, sellers can ship their products without any shipping cost.
13. Marketplace DHL Shipping For Magento: Marketplace DHL Shipping For Magento module provides DHL Shipping service for shipping the products in worldwide. This shipping method is most trusted shipping method in terms of cost, product delivery and now it is available with the Webkul Magento Marketplace.
14. Marketplace The Courier Guy Shipping For Magento: Marketplace The Courier Guy Shipping For Magento allows the seller to add The Courier Guy Shipping for their product. Now you can ship the products with the reliable and trusted delivery service of South Africa. Using this shipping module vendor/seller can manage their shipping and order from vendor panel print invoice, and can enter tracking ID, and complete shipping management from seller panel.
15. Marketplace Indonesian Shipping For Magento: Marketplace Indonesian Shipping For Magento module provides Indonesian Shipping service for shipping the products in Indonesia. This shipping method is most trusted shipping method in this country and it provides shipping services like TIKI, POS, JNE to the customer for shipping the products in Indonesia.
Irrespective to all the shipping and payment gateway there is one more important thing to discuss and that is Multivendor Mobile Commerce –
As we all know and use mobile or portable devices more instead of the desktop, so these days having mobile apps for every module is mandatory.
Mobikul works as online retail shop as well as the online marketplace. The Mobikul is very much user-friendly in all aspects and fully compatible with your eCommerce store and marketplace.
The Mobikul Mobile Application Builder will convert your Store/Marketplace into a Native Mobile Application so that your customers can easily visit your Store on the go.
The Mobikul Marketplace Mobile App Builder has cool and most beneficial features for you and your seller. The features like – Interactive Dashboard, Marketplace Landing Page, Separate Seller Profile, Seller Collection Page and much more.
Here are the Marketplace Multivendor Mobile App Builder for Magento and Magento2 –
- Magento Marketplace Multivendor Mobile App Builder
- Magento2 Marketplace Multivendor Mobile App Builder
- MOBIKUL Mobile Application will support all the languages.
- MOBIKUL Mobile Application supports both mobile as well as the tablets.
- MOBIKUL Mobile Application provides synchronization of the application with your Web Store.
- MOBIKUL Mobile Application supports all the add-ons of various eCommerce Marketplace (Magento2, Magento)
- Unlimited Push notifications about the launch of new products, deals & sale, festive offers, etc
- Mobikul Mobile provides a comfort zone to your customers so that they can revisit the mobile application in offline mode
Magento Return merchandise authorization is a brilliant module and super useful for product return and order return between buyer and seller.
Magento Marketplace Product Return RMA is an add-on of Marketplace Module. To use this module, you must have installed first Marketplace Module.
- Marketplaces –>Payment & Shipping
Most of the marketplaces collect the money on behalf of the sellers. In other words, when a customer makes a payment all of the payment goes to the admin in the first place. Now, the admin can manually transfer the seller’s amount.
For example; We have a marketplace like – www.xyzsupermart.com that has vendors V1, V2, V3, and V4 having their products P1, P2, P3, and P4. Now, when a customer C1 goes on to the arabsupermart.com he adds the products P1 and P2 into the cart and makes the payment, so the payment he pays will go to XYZ Super Market account instead of vendors. That is almost how most of the marketplaces work.
- Seller payout –
Seller payout can be made after a certain number of days after the customers have passed the days set by the admin.
The advantage of seller payout Advantages – Refund and Claims. (After 15 days we will refund the amount after deducting the commission).
You can check Webkul Marketplace Advanced Commission system the admin can set commission for products, categories and seller categories. Admin can use commission rule also. If any product lies under various categories on which admin has set the commission, then, in this case, the highest commission will be applicable on the product.
Features are written below –
- Admin can set commission on products.
- Admin can set commission on categories.
- Admin can set commission on products and categories together.
- Admin can set two type of commission ‘fixed or percent’.
- Commission on the product will get higher priority.
- Admin can set commission very easily and very fast.
For small marketplaces, there are other ways to do it which are governed by the drop ship business model.
Small Marketplaces -> Commission instead of holding the inventory or the warehouses.
That’s why everything is managed from the seller’s end
Seller End –>
For a global marketplace, it’s always vital to have the Global shipping and Global payment methods that can be used globally. Thus, these shipping and payment methods will be able to cater the needs of the customers globally.
Also, this would set your sales to a soaring high as now you will be having a global customer base accessing the marketplace. Some of the solutions for shipping methods are-
CRM software consolidates customer information and documents into a single CRM database so business users can more easily access and manage it.
It’s always a big pain to manage the taxes and accounting info related to the marketplace. to better help you with this we have some solution that are generic –
the integration of QuickBooks with your marketplace is highly effective. You just need to sell out your products and will take care of rest of the things. we have a solution for this as well –
Integration of your physical store with your online store is always beneficial in increasing your sales.
Features that the POS system provides –
- Inventory and Sales Management
The POS system will provide the advanced feature so that admin can analysis the sales reports of respective POS handlers (cashier, sales agent etc.) individually. Also, he can easily manage the inventory of online and offline store together.
- Offline mode
Opencart POS System provides the most valuable and unique feature so that your sales agent, cashier etc. can work on POS system in offline mode also. They can use all the functions and features of the POS in the offline mode. This feature will also benefit you when you are having no internet area.
- Employee Management
The Admin can manage his employees and track their performance. He can easily create the new user for POS and can assign them the designation as the cashier, sales agent etc. as per the requirements.
- Easy Pay and easy Checkout
The most time-saving feature will provide your customer a hassle free shopping experience at the point of sale system. The POS user (cashier) can easily manage the long customers’ queue so that the customers will not have to wait for a long time.
- Separate POS Inventory Management
The admin can manage his online and offline store’s inventories separately. Also, he can choose which product he wants to enable or disable for the POS System
- Multiple Cart System
The Sales Agent can create multiple cart(s) and can hold the transactions at that time. He can easily proceed to next the transactions without deleting the uncompleted order/hold order.
Thanks For The Read.