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Along with the ecommerce space, the online marketplace space is also developing by leaps and bounds. In research done by Digital Commerce 360, the world’s leading online marketplaces sold products worth $2.67 trillion in 2020. While there are some heavy names like ETSY, eBay and Amazon in the online marketplace space, Amazon remains the leader with more than 300 million active users.
The COVID-19 pandemic has also fuelled this unprecedented rise of online marketplaces worldwide. Businesses of every genre and type are looking for marketplace app development as they don’t want to lag behind. However, looking at the constant evolution of the space, developing a marketplace like Amazon can be a tricky one.
Therefore, in this blog, we will concentrate on the details of developing an online marketplace app like Amazon. Right from the features to the implementation monetization strategies, we have everything covered for you.
Categories of online marketplaces
Before getting into the details of marketplace app development, we will have a look types of online marketplaces,
In the horizontal marketplace, there are several categories of goods that have some common characteristics. For example there are online marketplaces that sell only pet products, or fashion products, etc. These websites are horizontal marketplaces.
This kind of marketplace is an amalgamation of multiple vendors that have the same niche. It includes examples such as Chegg, Zillow and Stock.
As the name suggests, the global marketplaces sell everything to everyone. Therefore, they have a wide range of product categories as well as vendors as well. Examples of the leading global online marketplaces are AliExpress, eBay, Amazon, etc.
How to design an online marketplace like Amazon?
There are no qualms about the fact that poor user experience can be disastrous for your online ecommerce space. Therefore, it is essential to create an engaging design for your marketplace app to meet user requirements comprehensively. We have a list of top 5 principles that will integrate value and experience for the user in the online marketplace design.
· Always allow the users to access the key functionality of your marketplace app without registering. Your users will definitely appreciate it and it will increase the sales
· Keep the user interface design simple and make sure the product doesn’t have similar functionalities on different screen
· Show the value of the product on the first screen itself. Tell your selected mobile application development company to be upfront in terms of demonstrating product value
· Start with Minimum Viable Product (MVP) development to save time and money. It will be also crucial in gauging customer requirements
· Always have intuitive navigation for your product. Whether it is web or mobile, the interface must be streamlined
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Steps to develop Marketplace app like Amazon
As a business owner, if you wish to develop an online marketplace like Amazon, follow these steps:
Astute Research: Do complete homework when it comes to accessing your customer needs and then decide what you want to sell. Precise categorization of products will help your online marketplace app in the long run.
Be sure about the platform: Zero down your target audience before selecting the platform for launching your app. Marketplace app development becomes easier when you know whether the marketplace is for specific or multi-platforms.
Select the right tech stack: It is imperative to have the right technology stack whether it is for Android mobile app development or iOS app development. You can use the following tech stacks for online marketplace development:
· iOS: Swift
· Andorid: Kotlin, Java
· Front-end: HTML5, ReactJS, VueJS, Angular
· Back-end: Golang, Ruby, Node.js, PHP
· Databases: PostgreSQL, MySQL, MongoDB
· Cross platform: React Native, Flutter
· Payments: Braintree, PayPal, Stripe
Have the right team: With a view to build an online marketplace like Amazon, you need to hire a top mobile application development company. The team should consist of project managers, front-end & back-end developers, Android & iOS developers, UI/UX designers and QA.
The right set of features: Having the right set of features is essential as it decides the future possibility of the app. Thus, concentrate on making the app simple and hassle-free. Only have those features that the user is actually going to use.
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Must-have features for an online marketplace like Amazon
As we have seen features are vital, the business owners need to be very vigilant here. Below are some of the top must-have features for marketplace app development.
· Easy registration process: To hold the attention for the user, ensure that the registration process is seamless, easy and small.
· Advanced search options: Effective and advanced search options are vital in making your online marketplace app more user friendly. Try to include voice search as it is transforming the search for products and services.
· Social media integration: Having social media integration will not only allow the users to use the app seamlessly. It will also allow them to share their opinions about the products and help increase the user base.
· Multiple payment options: Various payment options will enhance the overall shopping experience of the users.
· AR/VR: Integrating these new age technologies as per your requirement will give you an edge over your peers.
· Ratings and reviews: To add trust in the genuineness of the products, it is essential to have ratings section in the marketplace app. In addition, it will also assist the customer to make an informed buying decision.
How much does it cost to develop an online marketplace app like Amazon?
The costing of marketplace app development depends on various factors. It could be the features, choice of the app development platform, business requirement, target audience, etc. Here is the list of major factors that impact the cost of marketplace app:
· Complexity and functionality
· Size of the development team
· Third-party integrations
· App maintenance and delivery
· Total number of platforms
· Prototype design and wireframing
· Location of the development partner
There are no doubts of the fact that the online marketplaces are replacing the brick and mortar stores. Thus to compete with the big names of the industry, you need to be specific about your marketplace app development. In addition, it is essential to select the right mobile app development company as it will add genuineness to your product.
Online marketplace development space is evolving, it is the right time to entire the sector and make the most of it.