There are thousands of reasons why people are planning to create a marketplace app. The one major reason is the popularity of Amazon. In the initial years, Amazon was considered to be a general online app but in recent years it has gained unexpected success and popularity. Especially, after Covid – 19 many e-commerce or marketplace apps got recognition in a very short period. This sudden urge of the users to shop online has made the marketplace app owners restless and they are so curious to create a marketplace app like Amazon.
Although, Amazon is a great marketplace app for a long time. The popularity of Amazon inspired many marketplace app owners to create an app similar to Amazon. In this blog, we will be discussing all the possible points or factors that can help you to create a marketplace app as amazing as Amazon. We have covered all the points regarding multi-vendor marketplace app development, let us start with a little introduction of the marketplace app and then later we will dive into the technical process and details.
Usually, people get confused with an online store and marketplace app. This is because the functioning of both platforms is similar but there is a slight difference. That we will discuss in this part.
Through an online store, an owner provides its services to the users directly. But the marketplace app is the advanced version. Through the marketplace app, anyone can register with your app and can provide services to the users. It is a platform that acts as an intermediary between the service provider and users.
The marketplace app is a platform where sellers and buyers help each other by providing the best services. Users don’t have to struggle too much, they can get everything in a single multi-vendor marketplace app.
The concept of a marketplace app was introduced to provide an easy and smooth shopping experience to the users through digital devices (smart mobile phones, laptops, and computers).
We believe this is enough about the marketplace app, still, if you need to know more about, how to create a marketplace app you can click here. Now, let us directly get into the working and developing of the marketplace app with features and cost details.
As we discussed the main objective of the online marketplace apps earlier. Marketplace apps bring buyers and sellers together and make the entire process efficient.
Through the marketplace app, sellers can offer various services to the customers at affordable rates. And similarly, buyers can enjoy online shopping at any time just by staying at home.
Because of so much convenience and discounts offered by these marketplace apps, the demand for online marketplace app is so high.
Above we have given an image to make things much easier for you. Here you can see, that anyone can use this platform to offer their services and customer can avail the services provided by the various vendors. It also provides users an advantage of comparing prices and buying the things as per their budget.
With the good services and product quality, online marketplace apps easily got the loyalty of the customers too. There are even more features that make the multi-vendor marketplace apps so useful that we will discuss in the next section.
Some of the key features that make marketplace apps so demanding are discussed below. These are some common features, we have mentioned advanced features in the next section too. So if you think your requirement is not given here, then you can switch to the next paragraph or you can contact our expert app developers.
Through these features, anyone (buyers/vendors) can register themselves and can easily avail the benefits of the marketplace app. If you are developing a marketplace app then you must get this feature into your app so that your users can easily connect with your app.
Nowadays, many apps are allowing their users to register through social media apps. To make the registration or login process even quicker.
Enable users to search for the exact product they want to buy. This feature will make your app very user-friendly. This will eliminate the mess of unwanted browsing and will save time.
Through this feature, users can add the item to their cart and can buy the product later or as per their comfort.
Allow users to pay through any mode, which suits them. Enable them to pay any online mobile payment app or COD.
The push notification will allow users to get alerts for any important update or any changes in the app.
Let allow users to rate your app and the services of the vendors. So that you can make changes in your policies to make your app more user-friendly.
This is an advanced feature of the app, which will help your users to shop or search for the item just by scanning the image. To integrate such advanced features into your app you need to hire an experienced app development company.
The AR technology will allow your users to check your product and analyze your services visually before payment. This will make your app more genuine and earn loyalty for your app.
Above we have discussed some of the common features of the marketplace app. But that is not enough to learn when you are planning to create a marketplace app. One must also know the features depending upon different users (vendors, buyers, and admin). Here we have characterized features into three categories:
There are a few points that one should know before going for any app development idea. Below we have mentioned step-wise pointers that will help you in achieving an amazing app.
1. Research and Planning
2. Choose the platform for the app
3. Decide the important features for the App
4. UI/UX Design
5. Choose the right tech stack.
6. Hire a Skilled App Development Team
7. Plan the Final App Development Cost
Now let us discuss a few points which will help you earn money through your app. There are various monetization strategies that you can choose, that suit best as per your business plan. Below we have mentioned a few have a look:
You can earn commission from vendors for every sale they make. Put a certain percentage for every successful delivery of the order. Amazon and Etsy follow this monetization strategy.
Ask vendors to pay for listing the product on your app. This is a great way to generate revenues through your marketplace app.
By offering subscription-based services can help you earn good revenues. This strategy is used by many online apps.
A very easy and common way to earn money is through your app. Allow people to place their ads on your website or app and charge them for providing them a platform for advertising their services.
You can also tie up or partner with other marketplaces. Those, which are already in a good state and have good recognition in the market.
Online shopping is the future of the next generation. It is seen in a survey that people spend 4-5 hours daily while surfing. You can imagine while surfing how many users might come across new marketplace apps daily. If we talk about Amazon individually, then it is reported that 1,000,000 users (vendors) join Amazon daily. Therefore if you are planning to create a marketplace app for your business then definitely it will be a great opportunity.
However, the competition is high in the market but again the demand is also high. Therefore, you must try once if you have a good amount to invest in mobile app development ideas.