The online marketplace has become really popular these days.
Concerned about selling your old device? Want an air conditioner at a low price? Worried about purchasing an expensive mobile phone but do not have enough budget to buy it.
An online buy-sell marketplace allow people to display their products which are no longer of their use, at a much reasonable price for others who are waiting to buy such products at a throwaway price.
Today the apps like OLX, Quikr, Craigslist etc. have spread their roots all over in the online marketplace. These applications allow online buying and selling of old used items like books, furniture, vehicles, laptops, computers, mobile phones and much more.
So, if you want to develop a clone or an application like OLX, Quikr and Cragslist, etc. Then go through the entire blog to understand the whole process behind the functioning of online marketplaces.
How this sell-buy marketplace works?
To make you aware, that all these marketplace apps are free of cost for the users to sign up and display their products. No commission is charged for both the interested parties as the deal is signed between them. However, these apps can generate revenues through feature listings, ad campaigns and brand promotions. The app owners can also adapt different monetization strategies like imposing delivery charges, giving facilities to pay online through app and advertising etc. to increase their revenues.
Challenges faced by the online marketplace apps:
- Detachment between the buyer and the seller
- Lack of proper information
- Credibility and trust issues
- Concern with the revenue model
Salient features of the app:
|User Panel||Admin Panel|
|· Login/Register||· Login|
|· Profile verification by mobile number and email id||· Dashboard|
|· Add personal details||· Customer profiles verification|
|· Upload pictures||· Manage customers|
|· Browse profiles by category||· Manage invites|
|· Search by advanced filters||· Manage rewards|
|· Add user in favorite list||· Smart search|
|· Real time chat||· Cloud storage integration|
|· Payment module||· CRM integration|
|· Apply coupon code||· Payment gateway integration|
|· Customer support||· Manage profile|
|· Privacy settings||· Reporting and analytics|
|· Manage profile||· Push notifications|
- Social network registration: Many applications these days have inbuilt social network registration option to allow users to register themselves using social media accounts.
- Picture modification: This feature can help in cropping, editing and adjusting the clicked pictures.
- In-app payment: With the help of this feature, customers can pay for their online transactions.
- Delivery status: This feature will enable customers to track their delivery.
The cost of developing a buy-sell marketplace app:
Well, the cost of developing an app like this completely depends upon the type of functionality you want in your app. However, to give you an idea about the price, it can cost you around $3000-$5000.
Apps like OLX, Quikr and Craigslist have become the most popular classified online marketplace and therefore it is the best time to start your own clone website or application with some captivating features. Though building an online marketplace app is no big deal, but offering something unique then the competitors is a way difficult thing. So, hire an experienced team of designers and developers for your app so that you can stand out of the competition.