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How Much Does it Cost to Develop An Ecommerce Marketplace App?

425 Views | 6 min | May 14, 2021

 The internet is a powerful tool for promoting your business in today’s world. Online marketing reaches out to the vast majority of people all over the world at a low cost. This is an excellent time for those interested in starting an online marketplace.

 According to Statista, With global e-retail sales of $3.5 trillion in 2019 and global retail sales expected to hit about 15.5 %by 2020.

Hence, developing an online marketplace mobile app and Website for eCommerce Marketplace is the most trending business concept.

Ecommerce Marketplace apps or websites, such as Amazon and eBay, are well-known for making shopping easier for their users. These platforms, like grocery delivery or any other delivery app, allow users to purchase whatever they want in just a few clicks and without wasting much time.

Benefits of an Ecommerce marketplace

Some small businesses and vendors believe that selling their goods on a marketplace is less expensive than building a website and looking for applications to handle several e-commerce sites. Keep an eye out! This is especially true for brands with a small catalog and a narrow target market. A marketplace, on the other hand, is an investment for every competent business or brand.

Some benefits of an eCommerce marketplace are as follows:

  • Digital visibility: Many shoppers use marketplaces as their primary search engine, allowing you to expand the brand’s reach across more platforms. Furthermore, consumers are more comfortable purchasing goods from online marketplaces.
  • Diverse consumers: Your loyal customers are familiar with your brand and will continue to recommend it, but they are a profile that you have thoroughly researched. What if you could reach out to customers you’d never met before, or experiment with new demographic niches to find new sales opportunities?
  • SEO reinforcement: You should keep an eye on your website’s SEO at all times, and it’s not a good idea to change your copy and designs too often. However, you can use your product listings to compare keywords and ad strategies to see what gets the most traffic in a marketplace!
  • Easy management: Thanks to marketplaces’ help, adding more sales and distribution channels to the omnichannel e-commerce strategy isn’t a challenge (they can store and ship your products if you like). Don’t forget about Product Information Management (PIM) tools, which allow you to automate the bulk upload of product data to your marketplaces.

Core Features For Ecommerce Marketplace App Development

A mobile app’s features and functionalities are crucial because they decide how the app can perform in the marketplace. Following are the basic features that must be included while e-commerce marketplace app development:

  • Registration/Sign-up

The user, whether a driver, a retailer or an administrator, should be able to easily log into the app. The method should be easy even though they are signing up for the first time. In addition, request that your eCommerce marketplace app’s developers incorporate logging in with a phone number or a social media site.

  • Profile

The eCommerce Marketplace app should make it simple to create a profile so that you can book a service and work as a professional. Users and professionals must be able to add personal details to their profiles. In a user’s profile, for example, he should be able to provide information such as his name, complete address, professional services needed, and so on.

  • Product Catalogue

Sellers have the choice of curating their own product range. Ecommerce Marketplace performs validation and checks on behalf of the administrator. When a vendor joins a marketplace and adds a new product, it is sent directly to the administrator for approval. The seller or commodity is classified in the marketplace after the admin approves it.

  • Advanced Search 

It’s critical to give away the functionality to browse for any service without having to deal with any hassles. Users must be provided with a variety of filters to help with the operation. They should be able to find a professional based on distance, expense, and knowledge, for example, which will simply enhance the user experience.

  • Wishlist/Shopping Cart

To put it in more general terms, the eCommerce marketplace app should have the ability to store and save products in the wishlist that have not been purchased but have been saved as favorites or in the wishlist. You may also hold a list similar to a pending cart.

  • Payment Methods 

Try to provide applications that accept payments from all over the world, such as Google Pay, PayPal, Master Card, and other regular payment gateways. Since it is an online shopping site, it is self-evident that we will need to conduct transactions online.

  • Administrator Panel

The eCommerce marketplace should also have a feature for all business owners in addition to the above. Furthermore, the platform’s buyer can easily configure the settings for various vendor categories.

It should also have options for storage, payment gateways, and fees. Administrators may also monitor the seller’s filters, list, and categories.

  • In-App Chat

The eCommerce Marketplace app should also provide this feature to begin chatting with professionals to communicate with one another daily through in-app notifications.

Everyone understands the value of text messages over phone calls because they save time and allow you to do more in less time.

  •  Push Notification

In today’s world, users expect to be kept up to date. The eCommerce marketplace app’s push alerts bring users notifications on what’s going on in the app. It may be messages about item orders, travel, or payment that are personalized. It may also be linked to some of the schemes and deals that your app has made available. Users and vendors may also benefit from push notifications.

  • Synchronization

          The synchronization of the features of the admin panel, vendor panel, and user panel is essential for the app’s smooth operation. Make the app in terms of logistics and management, so that all three panels are in harmony and the appointed user can understand everything. 

  • Shipping & Taxes

Sellers will handle shipping and taxes separately from their end. eCommerce marketplace app will help its sellers to monitor how their goods are shipped. The seller will contact the courier company and provide the tracking number, after which the shipment can be created. This feature will allow the sellers to ship their goods to buyers, giving them a sense of independence.

  • Rating & Review 

Since we haven’t seen the product or the seller, online shopping becomes a gamble. When a consumer sees some honest feedback about a product, they feel more at ease and optimistic about purchasing it. 

Cost to Create an Ecommerce Marketplace App

Firstly, You must understand the budget specifications for your app before begin with the development process. The features and functionalities used, the technology stack used, the systems used, the expense of the developers, and several other factors, all influence your budget.

To determine the final cost of developing an online eCommerce marketplace app. Specifically, the cost and estimate of app creation are determined by the type of platform you choose to launch your on-demand eCommerce marketplace app.                  

The most useful form of an app for Ecommerce marketplace innovations is a native app. The following is a breakdown of the various aspects of cost for e-commerce mobile app development:

Wireframe

The wireframe is the first component of an app to be introduced. It is the visual architecture that defines the app layout, including the physical appearance, page layout, and so on. For a mobile app development project, several wireframes are typically created, and the final wireframe is chosen from the set.

The cost of wireframes is determined by the eCommerce marketplace app’s complexity and the number of pages. Wireframes for apps with less than three pages cost less than $500, whereas those with more than three pages will cost up to $1,500, depending on the number of pages.

Design Cost

The design of the app is mainly the focus of the next stage of growth. Apps with pleasing styles are more likely to be used by users. To increase the rate of use, this part of the eCommerce marketplace app development must be adequately funded.

The cost of eCommerce marketplace app design is also determined by the design’s usability and versatility. The higher the number of operating system versions for which the design is compatible, the higher the design cost. Overall, the expense of developing an app ranges from $2,000 to $35,000.

Development Cost

This is the point at which the coding kicks in. The number of programmers involved in the coding process may have a significant impact on the cost of eCommerce marketplace app development. The number of functionalities is another important factor in software development costs. The type of app is also important, with Web, Hybrid, and native apps having the highest development costs of the three.

An app creation could cost anything between $1,000 and $100,000, depending on how all of these factors are combined. After the completion of the development process, it’s important to conduct thorough testing to check for bugs and defects. The cost of this study is largely dictated by the type of app and the number of features it offers.

Additional Cost

Some other additional costs for eCommerce marketplace app development are as follows:

  1. Equipment costs
  2. The cost of a platform’s software license
  3. Cost of social media integration
  4. Database & server cost
  5. App store charges
  6. Update costs
  7. Live support cost
  8. Marketing & advertising costs, etc.

Summary

Creating an eCommerce marketplace is a big goal. However, the good news is that you now have an even larger market to claim and earn profit from. The cost of developing a multi-vendor app will range from 20,000 to 80,000 $, depending on the platforms, wireframes, and complexity of the app. I recommend that you speak with an app development company and share your idea with them.

The AppDukaan team has developed a range of eCommerce marketplace apps and sites, and we would be happy to help you build an eCommerce marketplace app of your own. Let’s talk about how we can transform your idea into an eCommerce product.

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