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How Haatify, A Multi-Vendor Marketplace Benefits Owners and Sellers

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Haatify is an extension offered by us, Rasbor. It is a multi vendor marketplace extension that gives a boost to ecommerce sales. Before we proceed to understand more about Haatify and its functionalities, let us understand what Multi Vendor Marketplace is and how is it helpful.

A multi vendor marketplace is a website that allows multiple sellers to set up their own store in the website and sell their product, example Amazon, Flipkart. However, the task of the admin is to sell his products, manage the website and receive commission from other seller’s sale. This type of marketplace shifts the humongous task of maintaining operational tasks like managing inventories, updating product descriptions, doing the logistics, and updates to individual sellers by giving them a common system to handle all the errands as per their convenience and their goals. A multi vendor marketplace is a perfect solution for ecommerce companies who have several vendors willing to sale their product through one common online channel.

What is Haatify?

Coming back to the actual point of discussion, let us introduce our extension Haatify.  Haatify is a “multi vendor marketplace” extension that converts your Magento store to a marketplace. This extension allows multiple sellers to sell through one store, and lets the owner earn through commission on each product sold by the sellers registered through the extension.

Haatify, the name was inspired from the fascinating and colorful market place Delhi Haat, located at the heart of the capital city. The place is a shopper’s paradise and an amalgamation of various cultures brought together by their handicrafts and cuisine. At Rasbor, we wanted to create a marketplace that imbibes the culture of a Haat, where several vendors come together to offer an exhilarating experience of shopping to buyers.

Why A Multi Vendor Marketplace?

Any company wishing for an online store needs to be a multi vendor store. The benefits of being a multi vendor are several. Here are a few:

  • Vast Range of Products– ‘Multiple vendor’ the term itself means a large assortment of products of various categories offered by different sellers brought together in one place. A site with huge variety of products will definitely attract large traffic and generate higher sales.
  • Easy to Manage– When all your products in one place managing them becomes easier. A marketplace such as this shifts the task of inventories, logistics, product addition, pricing, etc to individual seller. The admin has lesser burden in managing the platform and all its operational tasks.
  • Less Expenses– As each vendor manage their own share of the products available in the store, you do not need to hire people to do these tasks for you. You can focus on up scaling and marketing your ecommerce store without worries.

The Haatify components offered to store owners are a single admin control, a dedicated seller Dashboard, and multi-prices for products.

5 Reasons Why Convert to A Multi-Vendor Marketplace

For any ecommerce store, a multi vendor set up is the most profitable one. Here are five reasons, as to why you should do it too:

  • Leverage your network of co-sellers by inviting them onto your platform
  • Earn commissions on the sales done by your authorized vendors
  • Create differentiated pricing for same product by multiple vendors
  • Provide vendors a branding platform including social commerce
  • Create tiered membership for your subscribed vendor.

Reasons Why Vendor Love It

We have implemented Haatify for several clients of us, one notable name being Sports365 and they have loved the result. Nevertheless, it is not mandatory that you should feel the same. Here are our top five reasons why Haatify is perfect for your store and you too will love it when implemented:

  • Personalized vendor dashboards to manage their own stores
  • Single Click change of theme
  • Bulk product imports including bulk image uploads
  • Create auctions, vouchers and coupons
  • Get sales reports and trend predictions of hottest selling products.

Reasons Why Customer Love It

For any good store owner, customer satisfaction and fulfillment is of vital importance. Any measure taken for the site should always concern the user experience, because without users a site has no existence. We understand this sentiment and hence our extension Haatify ensures that customers are given equal importance as the vendors. Here are few reasons why your customers will love the results of Haatify implementation:

  • Delivers a virtual window shopping experience
  • Compare product prices from different vendors before buying
  • Leave product and vendor reviews
  • Share the shopping experience on Social Platforms
  • Sort vendors by proximity of location.

Features Offered By Haatify

Haatify is filled with rich and effective features that are goal oriented and generate positive results all the time. Some best features of the extension are:

  • Vendors can Upload/Edit/Delete their own Product
  • Vendors will be notified when their product is purchased.
  • Vendors can see orders on their own product.
  • Allocation of different resources to vendors.
  • Option to notify vendors when his/her product is purchased.
  • Update bulk products using csv file.
  • Vendors can upload Bulk Images.
  • Providing different privileges to vendors.
  • Vendor’s name on product details page.
  • Option to notify vendors when his/her product is purchased.
  • On what stage the vendors should be notified.

They can also:

  • View total commission earned by each vendor
  • View sales and commission information for any month or year of any vendor
  • View transaction history of each seller in History action
  • Ascertain whether the commission is paid or pending through “Commission Status” Update payment status of each vendor.

Conclusion

Adding Multi Vendor Marketplace extension to your Magento enabled ecommerce site, converts your store into a full-fledged marketplace where several vendors can sell their products. Vendors can manage their products and orders but finally it is the admin who controls the marketplace. So owing a platform that allows you to do the management task easily is a boon for the business, the site and surely, the customers.

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How Haatify, A Multi-Vendor Marketplace Benefits Owners and Sellers