The eCommerce industry is known for the latest trends. In the past, selling only from online shops was enough to make money. But as time grew, the customer mindsets gained new interests. Not the customers are always looking for something new and exciting. Following the market flow, a wide variety of online sellers shifted their business module to a multi-seller marketplace. The reason is simple. Customers prefer to visit a single online platform to get all the needy things. Because visiting 2 or more online shops for shopping is not only time-consuming but also tedious. Especially in the local markets, customers prefer to give priority to hyperlocal marketplaces over shops. Now, with the modern trend, the Knowband tech team has a modern solution for the PrestaShop admins. Knowband PrestaShop Hyperlocal Marketplace allows PrestaShop vendors to turn their online shop into a hyperlocal marketplace. Now, reasonably you are wondering about what are hyperlocal marketplaces.
A hyperlocal marketplace is an online multi-vendor marketplace for a narrow geographic zone. Like major marketplaces, the only difference is that hyperlocal marketplaces offer services in a limited zone.
The concept of hyperlocal marketplaces fits limited business categories. For example, the food industry, grocery stores, and repair services are some instances of hyperlocal marketplaces.
A hyperlocal marketplace is an online multi-vendor marketplace for a narrow geographic zone. Like major marketplaces, the only difference is that hyperlocal marketplaces offer services in a limited zone. The stores displayed will be tailored to the location and delivery area.
Working Procedure of Hyperlocal Marketplaces:
After knowing the basics about marketplaces, the next question that appears is how the Hyperlocal marketplaces work. The answer is straight and simple to get.
- In the initial phase, the open-source hyperlocal marketplaces allow the seller to list their stores on the Marketplace.
- After a successful listing, the customers get a chance to browse and explore the stores on the marketplaces.
- In the third step, the customer orders the products from the online marketplaces.
- The order details get to online sellers and they do the further steps to make sure the delivery to the customers.
So, how does the Hyperlocal Marketplaces admin get money?
In the entire process, the customer ordered the products and the sellers got their cash in hand. The thing comes, what is in there for the Marketplace owners? The answer is as simple as the question.
In exchange for letting the sellers list their products on Prestashop Hyperlocal E-commerce Business, the marketplace admins charge per sales commission charges along with monthly subscription charges.
In simple words, whenever sellers will complete an order, automatically the defined commission amount will be credited to the marketplace’s admin account.
Reasons that justify Hyperlocal Marketplaces!!!
Zero Investment Shop for Sellers:
Starting selling online on Hyperlocal marketplaces does not take any hosting or website development charges. Moreover, the sellers can list their products online and start getting orders on the same day with hyperlocal marketplaces.
Local sellers can sell their products on hyperlocal markets without having to open an online store. Buyers also have many alternatives at one moment. As a result, it is a win-win situation for everyone.
Purely B2C Market:
The other remarkable benefit of hyperlocal marketplaces is that the market is pure B2C. The sellers will not have to deal with any third-party businesses to get their orders paid. Moreover, the sellers will be the final owner of their customers and order management.
Sellers will be able to explore and purchase more easily as more products are made available on a single platform. This would increase the visibility of your sellers. They will be able to sell straight to customers, eliminating the need for intermediaries that charge commissions to offer a fleet of riders.
A Same-Day Delivery Online Business:
Sellers might benefit from hyperlocal marketplaces if they need to deliver orders to clients within a few hours or on the same day. With the growing demand for local delivery, retailers want to create an online presence. The reason behind the same is faster delivery. They can get a platform to do the same with Knowband PrestaShop hyperlocal marketplace.
Not only the sellers can target local customers but also can learn and add various enhancements to their business modules. The other sellers on the platform will surely help you to decide on effective strategies.
High Potential Market:
Hyperlocal Markets reportedly have more potential in online businesses. The reason that justifies the statement is, that the Hyperlocal Marketplaces especially point the focus to a limited zone.
For the same reason, the chances of turning first-time customers into regular ones are comparatively high.
The following factor is one of the major pillars behind the success of Hyperlocal Marketplaces.
Now we have a clear idea about the term Hyperlocal Marketplace. We have also tried to cover some aspects, of why Hyperlocal Online Marketplaces are the Modern Need of the online industry.
The thing is, how to start your marketplace. Will it require any sort of coding skills? No, surely not.
Knowband tech team has developed the modern Hyperlocal Marketplace Addon for the online PrestaShop store sellers. Moreover, online sellers can turn their online shop into a fully channeled online Hyperlocal Marketplace Within no time.
The Knowband Prestashop Hyperlocal Service Marketplace contains the following components to provide a ready-to-use marketplace.
Knowband Prestashop Hyperlocal E-commerce Business addon offers the option for the sellers to log in and manage their dashboards.
Not only the sellers can manage their product listings but also will have options to manage the orders. Once the customers will order on the Hyperlocal Marketplace, the sellers will automatically receive the notification via email.
For the further steps, they will get their hand on all of the logistics management components offered by the Hyperlocal Marketplace Seller Login Panel.
Hyperlocal Marketplace addon also offers options to add various payment gateways to the admins.
The admins can add payment options for the sellers and customers. Following the same, customers can get their favorite products and sellers can manage their commission handling.
Commission Management System:
The commission management system is the backbone of Hyperlocal marketplaces. The entire process from seller product listing to order management varies around the commissions.
Adding more to the same, the Prestashop Hyperlocal Delivery Marketplace addon offers admins to set the percentage commission rate for the sellers.
Not only the PrestaShop store admins can add the commission rates but also can modify the same at any time. Along with the commission, the admins can also charge monthly charges based on subscription plans. The PrestaShop store admins can create the subscription plans by adding conditions from the module backend.
Furthermore, the store admins can set the maximum product listing limits based on their plan.
Proper Control of entire Management:
Although the sellers will have all the required options for managing their online sales. Yet, the store admins will have the final authority.
From the back end offered by Knowband Prestashop Hyperlocal Delivery Business Model, the admins can include, exclude, or update any of the sellers at any point.
In the end,
PrestaShop Hyperlocal Marketplace addon is the easiest solution for building a Marketplace. Moreover, the Knowband tech team ensured no-code solution to the online store admins.
Likewise, in case you are having any queries about Hyperlocal Marketplaces. If you are planning to build one, we are also available at our email address email@example.com for a quick discussion.