The idea of having a marketplace app for your brand is a very thoughtful and popular option. Having a marketplace app for your organization can increase the growth of your brand. It will be easy for the customers or users, and the marketplace allows the users to search and buy the product online.
Everyone is shopping online, especially in these challenging times of the pandemic; it is good to stay home and shop online. Online shopping has helped everyone to buy their essentials by staying at home. The Internet has made things much easier for everyone. It has made our lives easy. Ecommerce marketplace mobile apps allow customers to order their needs at their doorstep at affordable prices.
The marketplace mobile app does the same thing as an eCommerce app; it also provides the best services and products. There are plenty of applications in the same category like business, application market, and investment market. Here will look at the cost, features, cost, and estimated time of developing an online Marketplace app.
What is a Marketplace Platform?
As an online store, the multi-vendor mobile app or marketplace mobile app also allows individual space for sellers to sell their products and provide services.
There are many types of multi-vendor marketplace mobile app platforms of different sizes with lots of options to choose from the store that sellers provide to choose the marketing strategy.
The critical factor in the marketplace is that it acts as a mediator. The marketplace acts as a bridge between buyers and sellers. The primary purpose of the marketplace is to provide cooperation while connecting with buyers and sellers.
Online stores provide their services and handle all the activities held in the app like product search, purchasing, delivery, payment, and much more.
An online marketplace app is an app where we buy products. It is trendy to buy products and shop online. Besides this, it also helps to know such things like
Disintermediation – removal of mediator in an exchange process.
Network effect – new buyers and sellers add a positive effect on the whole network.
Why Should You Build A Marketplace App?
Marketplace mobile apps are the most trending apps currently, especially with some popular and famous marketplace apps like Amazon, eBay, Airbnb, Uber, Groupon, and many more. All this multi-vendor app has earned billions in the field of online buying and selling.
This has dropped a light on various marketing concepts like B2B, B2C, and C2C. A perfect online marketplace app should be based on scalability, execution, performance, and design.
The eCommerce marketplace mobile app is the most preferred app for online shopping as they can access various products and services online. Many mobile app development companies have emerged in this eCommerce store. The popularity of eCommerce apps has converted many retailers to invest in marketplace apps.
Many universal businesses online have moved their businesses to mobile platforms, as smartphones allow them to interact with clients. The eCommerce market is expected to achieve tremendous change and profit due to the marketplace app.
The Main Type of Online Marketplace App
An eCommerce marketplace mobile app is used for buying and selling products from sellers.
- Supplier oriented e-marketplace
- Buyer oriented e-marketplace
- Independent e-marketplace
- Vertical and horizontal e-marketplace
eCommerce target audience
- B2C (Business to Customer)
- B2B (Business to Business)
- C2C (Customer to Customer)
Marketplace App Development Features
If you want to develop successful and best marketplace apps, you need to add these features to your app.
1. Augmented Reality
Recently most of the marketplace apps are implemented with augmented reality (AR) technology. This technology helps the customers to have a look and feel of the product and how it looks. This technology can help the buyers to shop in a better way and with a good product experience.
Many eCommerce marketplace mobile apps use AR technology to provide a better experience to their customers.
2. Social media integration
One of the best ways to interact with clients is by integrating with social media. It is not just for one-time login. One must also allow easy input in their online marketplace app. The users of your app must be given access to login via social media platforms.
Integration with social media can skip the long login process, but now you can select the social media you want to sign in to.
3. Advanced search options
This is a simple but essential feature because it shows and sells your product to the customers. For advanced search options, there are more search options mentioned below:
- Voice search
Voice search is prevalent and trendy recently. Anyone who doesn’t know how to type correctly can use a voice search that is very convenient and easy. Voice search is only applicable if the products are compatible with the voice search. Then only can you optimize it accordingly.
- Photo searching
This feature helps the customers search for the product even if they don’t know its name. You can find a similar kind of product with this feature. They need to click the image of the product and need to search using the image.
This particular feature in your marketplace app will soon get popular. Many apps are already using this feature.
4. Multiple Payment Options
Customers prefer different payment methods to make payments for their products. Some people prefer online payment while some prefer cash payment, so it is essential to provide multiple options.
Marketplace app development involves a lot of research and gathering various materials. It is imperative to appraise all the possible risks before starting to build any app. A development process does not start with coding. Understanding the project is an essential part of developing a successful app.
To know how to build a marketplace app, one must review the points given below.
- Make a rough idea of your app and note it down. Firstly, think about what is needed in your marketplace app. It will be interesting to know what is trending and what you need to add to the app. This will help you to know about the day-to-day target that is achieved or not. For making a list of this, you can review your competitor’s reviews and check other app reviews.
- Once you decide and make a dummy of your app, you can start developing the app in real life like the dummy. You need to write down all the things you need to add to your app, and then before implementing it in the app, you can sort it out once and implement the valuable things in your app.
- After you have all the ideas about the app’s content now, it comes to the visual part. You can select the visual part from any other app you visited and liked, or you can also modify your vision of the app as you like. You can also write down all the pros and cons of the app.
- Now it comes to the financial model of the app. This model is included for both buyers and sellers. It would help if you saw which payment method is suitable for the location and targeted group. Mainly all eCommerce marketplace mobile apps use online payments, credit/debit cards, Paytm, and much more.
- Another thing you need to add is returning policy for customers. You need to take responsibility for everything that happens if there is any misplacement of the product or the product has defected, it comes under your duty. This part also takes care of any fraud or cyber theft.
- You need to select a mobile app development company that you need to develop your product. You need to choose the company wisely, depending on its reviews and ratings. You must search through the web to select the best and best-rated company. The choice also depends upon the technology you select and the budget you decided to develop the app.
Tech Stack Use In Marketplace App Development
The tech stack used in marketplace app development is:
- Programming languages used – Java, PHP, and Python.
- Mobile app development for Android – Java, for iOS – Swift, and for cross-platform – React Native.
- Frontend – Angular, ReactJS, HTML5, CSS.
- Backend – Node.js.
- Database – PostgreSQL, MySQL, MongoDB.
How Much Cost and Estimated Time To Build The App
The cost to build a marketplace app varies and depends upon the feature you add to the app. If the app is MVP, then the cost wants to be much, but if the app is advanced and has more features, its cost will increase. The cost also depends upon the design you select for your app.
The time and cost also depend upon the team involved in the app development.
- Project manager
- UX/UI design
- Android developer
- iOS developer
- Web developers
- QA engineers
- Requirement analysis
Here we have given complete information about how to create a marketplace app. You can find a step-by-step guide on developing the app. Also will help you to develop your marketplace app for your business. To develop such an app, you need to select a trendy mobile app development company that will help you develop your multi-vendor mobile app.
Nevina Infotech is the leading mobile app development company with enthusiastic and well-trained mobile app developers for both iOS and Android. Our developers can help you create a marketplace mobile app as per your requirement and suggest ideas to develop your app.
If you are interested in creating an app like Amazon, please contact us anytime; we are ready to serve you with our high-class facilities and services.
How to build a multi-vendor marketplace app?
The answer to your question about building a multi-vendor marketplace app can be obtained from the blog itself. You can develop the app by learning how to develop an app or hire a mobile app developer who can help you develop your app.
How to create an app like Amazon?
To build an app like Amazon, and answer your question on how to create an app like Amazon, you need to add the functions and features the same as they are on Amazon. Then only can you create an app similar to it. But the cost of developing an app like Amazon can be high compared to the standard app.
What type of marketplace looks more promising today?
The platforms that connect professionals, regulated service providers with buyers, and B2B marketplaces are known to be the most promising marketplace app in today’s time.