The marketplace is the new black. Trade is globalizing, and it is more convenient for the average user to buy everything in one place, rather than chasing a set of goods on several platforms, spending time and additional money on delivery. Intuitive user journey and competent design (which is not always the most convenient for the user) are the basis of the market place success.
An example of how dark patterns work on Amazon and other services
Creating a Marketplace: Benefits for Business
- Changing the business model from an e-Commerce retailer to a trading platform frequently increases the turnover of your business.
- New growth points, especially if your business experiences a downfall in the growth of e-commerce sales.
- Extra profit from premium services for merchants (stores that are presented on the trading platform) — mailing, promotions, premium listings, categories rankings, in-app advertising, etc
- Commission for each transaction conducted through the trading platform.
Development of a Marketplace: Functionality
- Registration form;
- Accounts (user/merchant/admin/premium);
- Authorization and Security System;
- Customer support;
- Search implementation;
- Product Listing and Filters;
- Cart and checkout;
- Review system;
- Integration with the payment system;
- Admin Panel;
- Mailing support;
- Credit card processing certifications;
- Delivery and more.
These are the basics that are needed for a market place development, if you require a custom marketplace, it will lead to marketplace development cost increase.
The Cost of Creating a Marketplace
How Much Does it Cost to Create a Trading Platform?
- Custom platform or out of the box solution. Choosing a ready-made trading solution reduces the cost and speeds up the launch process. But the custom option allows you to create a website that will answer all the needs to be targeted customers.
- The complexity of the functionality of the marketplace, which will affect the complexity of the site’s architecture.
- The need to develop a trading platform mobile application. As with any E-commerce store, the application is an important part of a successful business strategy. About 10 percent of all e-Commerce revenue in the US is the result of in-app purchases.
Every case is different to get the most recent price for development please contact our managers, they would love to provide you with the quote. Click on the button on the right side of the screen to contact us and discuss your project.
e-Commerce Marketplace Development: Steps
- Preparatory. Meetings with the client, compilation of Technical specifications.
- Market, target audience analysis, design prototyping
- Approval of the layout, development of the design of the marketplace and its approval.
- Development of front-end and back-end of the marketplace.
- Content filling, integration of beta merchants.
- Testing and edits
- e-commerce marketplace release, transfer of rights and documents to the customer.
- Technical support for two months (included in the project cost).
Trading Platform Development — EightDevs Studio
You can develop a custom marketplace with EightDevs Digital agency. We are not afraid of large-scale projects, our team can create a project any e-commerce trading platform web and app development, the experience we have with data security will be a great advantage in developing a market place.