New Delhi (India), June 16: Indian e-commerce software provider Yourstore.io has announced the launch of a Multivendor marketplace platform for eCommerce websites – a platform that allows businesses to create their own Multivendor marketplace websites like Amazon and Flipkart. This platform will help create new make-in-India rivals to Amazon and Flipkart and transform local businesses and vendors by empowering them with powerful software to compete with other foreign players.
With the help of Yourstore’s new Multivendor marketplace platform, businesses will be able to aggregate third-party vendors and create a multivendor marketplace website easily. This revolutionary feature aims to level the playing field for ecommerce platforms in India. This platform can enable local and traditional Indian businesses to make an Indian version of Amazon or Flipkart. Furthermore, there are no technical challenges for the businesses as all the software side is fully taken care of by Yourstore and the platform works on a plug-and-play model. This makes it very attractive for local businesses and vendors to join together to make successful Multivendor marketplace websites.
Talking about the new platform, Rian Ozal, Chief Executive Officer, and Co-Founder of Yourstore said, “At Yourstore, we are resolved to delivering a seamless solution that will help local businesses to compete with big foreign-funded players and level the playing field. With the launch of this platform, we are already getting a lot of enquiries for our Multivendor marketplace platform from across India.”
Multivendor marketplace websites continue to grow at an accelerated pace. Amazon’s third-party seller program now has more than two million sellers. The majority of these sellers operate on Amazon as third-party vendors. There are many reasons why businesses would want to set up their own multivendor store, and one of those is brand control. The multivendor seller platform (MVSP) is software that allows brands to sell their products on the marketplace by becoming a vendor themselves. Stores built with an MVSP are called virtual marketplaces or vendor marketplaces because they’re managed by vendors themselves. Brands can use a multivendor platform to manage all aspects of selling directly to consumers on the same site as other brands. The multivendor website owners generally market and make sure the site has enough traffic for the vendors selling on its website.
Features of Yourstore
Known for its efficiency and simplicity of use, the Yourstore Multivendor platform has a number of features to offer.
Yourstore’s ad management module allows you to monetise on the website apart from the sale commission by additionally letting you sell ad spaces to the vendors to display their products or feature their brand on the home page of the website. The vendor staff accounts allow vendors to collaborate and work on uploading products and manage the orders seamlessly with their team with restricted staff permissions.
Their automated vendor payouts help with settlements to vendors automatically after deduction of sale commission and all other applicable charges, thereby saving time and resources as well as maintaining more accurate transactional records. Their seamless logistics integration can manage to ship easily and also help keep track of the status of each order and how the vendor is handling it. Whereas the flexible commission allows you to decide between three options for charging the sale commission a flat rate percentage on the sale or varied percentage based on the product value or a varied percentage based on the sale value. This allows you to create exactly the commission structure that suits your business model.
Yourstore has a number of integrations with third-party services like Razorpay, CC Avenue, Paypal, Delhivery, FedEx and many more. This allows you to integrate your multivendor marketplace with existing solutions and other business systems. It also allows easing the running of your business by integrating various new solutions on demand for your marketplace with Yourstore multivendor platform.
Check out yourstore.io to create your Multivendor store.
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Divya Agarwal
