Want to sell your products to various vendors? Then definitely Multi-vendor marketplace would be the most suitable choice for this purpose. It is an e-commerce store that allows your sellers to sell their products from one store. In simpler words, you can think of the multi-vendor marketplace as a shopping mall where all the vendors reside. Your job is to make that shopping center. In this article, we are going to discuss the necessary things to consider for multi-vendor pharmacy applications. So, let us get started. If you’re interested in learning how to build a multi-vendor marketplace, you should definitely check out our blog on How To Build A Marketplace With WordPress for step-by-step instructions.

What is a Multi-vendor marketplace?

The entire multi-vendor store has a specific infrastructure or a business model that supports the listing of thousands of products that are featured by hundreds of vendors; it has to support a high range of categories. The business model that features a multi-vendor marketplace is also called the Zero inventory model. The term indicates that the person who runs the eCommerce store does not own the products himself, but the vendors.

The business model of the multi-vendor marketplace

The business model of a multi-vendor marketplace involves the vendors registering themselves in the store from anywhere. They have a dashboard that helps them to manage their products and their listing options, the payment processing is on the marketplace, and in this case, it is your store. Whenever the sale will be made, you will process the payment and further the process. Your main benefit is the commission you get on each sold product, as an owner of the multi-vendor marketplace; you should pay attention to growing the vendors, as this increases your profit and credibility of the marketplace.

Multi-Vendor Marketplace for Pharmacy

Since we are talking about a multi-vendor pharmacy marketplace it is important to understand the basic functionality of the pharmacy marketplace and how it works. No doubt there are many vendors involved in this, along with the medicine delivery option. For that, you must work closely with offline pharmacies. In order to make a multi-vendor pharmacy marketplace work, there are some features that you must include in it, the most fundamental feature is to offer a signup option. The buyers show up on your website and enter their location, they should have a list of all the nearest medical stores and pharmacies. There should be a search option that lets the user enter his required medicine, also it is important to have a prescription verification feature, and a user must upload his prescription which will allow him to purchase his medication. Thereafter buyer should be able to add as many medicines in his carts as he wants and pay through. And rest is just like any other marketplace, the admin confirms the order and it goes out for the delivery.

Must-have Features in the pharmacy marketplace app

Since the pharmacy marketplace application is unique in its own way, it has a system and must-have features too. Let us discuss some of the most elementary features to have in any pharmacy marketplace app

• Admin Panel
• Pharmacy seller dashboard
• Delivery boy
• User panel

Must-have features for admin panel

In order to monitor the orders and maintain quality, these features should be part of every admin panel.

• Insights/data analytics
• Tracking delivery process
• Old customer retention process

Must-have features for the Delivery guy

• Updates and notifications about all orders
• Delivery guy’s profile and availability status
• Route optimization (to check shortest and nearest routes)
• Flexible Payment options

Must-have features for Pharmacies

• Proper registration feature to let pharmacist sell medicines
• Verification of prescribed medicine
• Analytics to monitor all ingoing and outgoing activities
• Keeping a record of inventory

Features from the consumer’s perspective:

• Authentication of valid credentials upon login
• Uploading feature of prescription
• Enabling In-app payments
• Discount offers and vouchers

These are some of the fundamental features that you must have in your multi-vendor pharmacy marketplace app, you may run your application without some of these features, but making it work efficiently will only be possible if you make it robust and up to the mark for your clients. And this is only possible if you add up these features, you can also adopt some other features as your marketplace grows gradually, you will respond to how your consumers approach you.

Conclusion

Having your multi-vendor pharmacy marketplace business can be really fruitful for you, all you require is a wit and the right strategies to get you there. The online medicine delivery business is what people require. And giving the patients their medications at their doorsteps is not only helping them but also something they will adopt. However; also you must know that the pharmacy multi-vendor marketplace can be tricky, which is why you must adopt all the latest trends and options to offer convenience to both your vendors and users. Features are an important aspect that you must not neglect. You can also learn from your competitors, the more you learn, the better your marketplace becomes.