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 marketplaceThe 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 PharmacySince 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 appSince 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 panelIn 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