Why Do You Need A Prestashop Marketplace For Your eCommerce Sto

  • Yes, we will be talking about the terms used in the Prestashop Marketplace in this blog. The Prestashop Marketplace is a platform where sellers enroll themselves and sell their products. Further, the admin is the one who invests in the Prestashop Marketplace Addon to create the platform also called the 'Marketplace'. Well, looks like we have already started defining terms about the Knowband Marketplace.

    So, let's get down to terms of the Prestashop marketplace without wasting any time further.

    Terminology of the Prestashop Marketplace by Knowband

    Admin

    The admin is an individual or a group of individuals who transform their eCommerce store into a marketplace. Further, he is the entity that keeps a watch on every activity that happens on the platform. With the help of the Prestashop Marketplace Addon, he approves and disapproves the various requests by sellers. In fact, that's not where the work of the admin finishes, he has to handle a lot more - constantly.

    Seller/Vendor

    The seller or vendor is the individual who registers on the platform through Prestashop Marketplace Module. The seller then gets a dashboard from where he handles everything. For instance, he can set up his profile, list products in bulk, send payout requests, and do more. In fact, the seller is the one who sells his products and brings home the revenues for the admin. 

    Commissions

    Commission literally means "money that you get for selling something". However, when the seller sells products on the Prestashop Marketplace, he pays commission to the admin. In fact, with the help of the Prestashop Marketplace Plugin, the admin can set the rate of the commission that the sellers pay. Further, it can be fixed for all sellers or individual sellers as well.

    Membership Plans

    The membership plans are the subscription plans that the admin creates. Furthermore, it is something that the admin charges the sellers for the tenure of selling on the platform. The Prestashop Multi vendor Marketplace Module allows the admin to create several membership plans for the sellers. Hence, the sellers can choose the plan that suits them.

    Payout

    The literal definition of the term payout is 'a large payment of money, especially as compensation or a dividend.' Well, when you talk about the Prestashop Multi-vendor Marketplace Plugin, the payout is the amount of money that the admin sends to the seller for completing the order. In fact, it is the seller's money for selling his product on the platform. However, the total amount gets credited to the admin's account and he has to send it to the seller then. Further, the seller sends the payout request for every order to the admin. Hence, the admin cuts the commission from the amount and sends it to the seller.

    Ratings and Reviews

    Reviews and Ratings are the customer's feedback for the products and the sellers. With the Prestashop Multi-seller Marketplace module, the admin can not only view the reviews and ratings, but he can also approve or edit the same before making it live on the front-end.

    Email templates

    The email templates are the 30 in-built emailing options that the Prestashop Marketplace Addon has. The admin and the sellers use the emails to keep the information going at every stage of registration, selling, order status, and more.

    In the End

    Do you think there are any other terms about the Prestashop Marketplace that we've missed out on? Do let us know about it or if you have any questions drop us an email at support@knowband.com.