What is a Marketplace App, and why invest in the same?
A marketplace allows buyers and sellers to list their products independently as the online stores. Plenty of marketplace platforms are available with different products and sizes marked with a massive range of options. It assists in diminishing the gap between the seller and buyer. The marketplace apps developed by the UX/UI Design Company are the talk of the town, and many renowned industry leaders earned billion dollars while achieving unparalleled growth.
Types of Multi-vendor Marketplaces
Every multi-vendor marketplace is mainly named on what they sell. They are known for the niches they are popularly selling.
Mainly if you see, there are three types of online multi-vendor marketplaces.
- B2B– Multi-vendor marketplace such as Walmart, Alibaba, etc., mainly sell products to other businesses at a wholesale price.
- B2C– Flipkart, Amazon, etc., are some popular multi-vendor marketplace that helps sell to the customer. These focus on business-to-customer businesses.
- C2C– eBay, Craiglist, etc., are some reputed C2C multi-vendor marketplace that lets customers sell to other customers.
Must-have Features for the Marketplace Mobile App
Easy Sign Up
The registration process must be quick and hassle-free. An easy entry into the application incorporates the name and e-mail address to be filled.
Social Media Integration
It is a matter of promoting your services/products on social media platforms and allowing the users to share their buy, reviews, discounts, and referral coupons with their friends and others.
The dashboard typically serves as a home screen for the sellers who want to stay updated with the data like new orders, customers reviews, conversations, and more.
Categories add life to your mobile application. It makes it more appropriate for the customers to look and buy specific items/products as per their needs.
Separate app for buyers and sellers
The buyer application should contain all the mandatory information about the past, wishlist, items bought, payment mode, settings, etc.
The seller should be able to see the list and the number of individuals who have marked their products/services as favorite, and the number of views on the product list.
Once the order is placed, the person should be able to track their orders as it ensures the goods are shipped via a trusted courier service.
This is the most imperative feature of the marketplace application. The mobile app should allow the customers to add products to their carts and show the total sum up after using the applicable discounts and coupons.
It is one of the crucial tools of the marketplace mobile app that allows retargeting your users and easy communication.
Multiple Payment Gateways
Users are choosy, and they have a different mindset of making payments. So, it’s vital to add different payment gateways for the customers to easily make payments.
Key Features of Buyers App
- User Profile
- Social and Sign-up Login
- Product Detail Page
- Product Listing With Features
- Ratings & Reviews
- Questions & Answers
- Favorite Listing
- Billing & Shipping Addresses
- Add To Cart
- Checkout Page
- Delivery Status
- Order History & Tracking
Key Features of Seller App
- Settlement Module
- Social And Sign-Up Login
- Reports & Analysis
- The Product, order, return, Inventory Management
- Offers & Discounts
- Reviews & Ratings
How to Develop Marketplace App like Amazon & eBay?
Amazon is a leading & successful example for every eCommerce startup. This marketplace mammoth serves an attractive UI and multiple engaging features for its end users. In case you want to create a marketplace app like Amazon, follow the steps mentioned below:
1. Research & Planning
Without proper planning & research, you may make blunders while developing a marketplace application. While creating a marketplace app, assess your target audience behaviors and needs, decide what type of products you want to sell, and categorize your items and products precisely so your users can find them easily.
2. Select the Platform For App Launch
Next, you need to select the right platform for launching your app. Google Play Store and Apple App Store are the prominent options in the app market. Decide whether you will target customers on multiple platforms or use a single platform for targeting a large pool of users.
To choose the best platform, know your consumers’ Geolocation, determine the time to create the app, and decide your users as rich people who use iPhones as a large number of middle-class consumers prefer using Android.
3. Decide The App Features
Features mainly decide the future possibilities of your app. So, apart from creating your app to look attractive, ensure your app is simple, easy to use, and hassle-free. This will assist you in converting a visitor into a promising buyer.
4. UI/UX Design
UI/UX design is an important thing to allure users and inspire them to invest in your app. Keep the design of the application simple, so the customers don’t feel challenging to access the functionality. Make sure to select soothing schemes, visuals, and colors to offer an amusing experience to your users.
5. Select the Technology Stack
Choosing the right technology stack for the mobile application development project is important, and it must be done carefully.
6. Hire a Skilled Team of Experts
To create your Amazon-like marketplace app, hire Development IT staff and a skilled team of developers. Your team of developers needs many individuals like project managers, business analysts, front-end developers, backend developers, UI/UX designers, iOS and Android app developers, and QA experts.
7. Determine the Final Development Cost
Every business has a clear-cut demand, and various factors impact the mobile app development company and its cost. Hence, it’s tough to assess the cost of developing a marketplace app. However, you can choose the closer estimation of the ultimate cost by assessing the whole process.
Cost to Develop Marketplace App Like eBay & Amazon?
The actual cost to develop a marketplace app like eBay & Amazon depends on various factors. Moreover, the app development cost usually varies from organization to organization and the platform you choose. The cost of developing the Android app may be less than that of developing an iOS app. So, select mobile OS as per your budget, target audience, and business requirement.
Many entrepreneurs, business owners & startups prefer to have a mobile app on both iOS and Android in some cases. In these circumstances, the cost becomes a little higher. Factors that can affect the cost of marketplace app development are:
- Size of the app development team
- Designing prototype and wireframing
- App Complexity and Functionality
- App UI/UX development
- Number of Platforms
- Integrating features
- Location of your development partner
- Technology advancement
- App maintenance after delivery
- Third-party integrations
Don’t forget to integrate the aforementioned features to make your online marketplace app successful. One needs to consider the other crucial aspect in selecting the right UX/UI design company. Make sure that the organization knows all the features and has rich expertise in creating such applications. Bring us your idea, and let’s together create a thriving marketplace app designed to engage your consumers!