Today businesses have got instruments to simplify the growth. By saying “instrument” we mean marketplaces. People more often adopt online shopping and the numbers have jumped due to the COVID-19 pandemic. In 2021, Global e-commerce has reached $26.7 trillion in sales. The numbers are awe-inspiring.
Speaking about daily life, marketplaces are on the up and up due to several factors:
- Saves time and money on travel
- Fits the schedule
- Provides more safety
So, let’s dive into marketplace app development from a business perspective. We’ll discuss what a marketplace is, its pros, types and steps to take to develop a killing marketplace.
Matches sellers and buyers
Marketplaces are beneficial for various-sized entrepreneurship as they create new ways to conduct the sales. Startups can make a run at a buyer’s attraction. For bigger-sized businesses, marketplaces are an excellent option to broaden the customer network. On the top, marketplaces construct a bridge between vendors and buyers that is rewarding for marketplace owners.
Advantages of developing a business app for business
Bridges merchandisers and buyers
Marketplace development is a salutary concept for various entrepreneurship, from startups to conglomerates as they produce new ways to conduct the deals.
Marketplaces give Startups a solid ground to cast their business activity and generate earnings snappily and efficiently.
If we talk about businesses of small and medium sizes, the marketplace will bring new clients and some of them may become brand’s fans.
For bigger-sized businesses, marketplaces will be a gate to foreign markets and strengthen global positions.
On the top, commerce constructs a ground between merchandisers and buyers that’s satisfying for business possessors.
The market is equipped with analytics and indicators placed on user-friendly dashboards and admin panels. They provide access to valuable seller information on the sale of a particular item. Marketplaces are becoming the ultimate tool for business people because they eliminate the need for complicated calculations and provide clues on how to promote advertising campaigns.
Makes business more comfortable
Business is rapidly moving online. The traditional approach to entrepreneurship is being overhauled and replaced by a new one, with paperless processes and instant transactions. The market allows flexibility and convenience for the inexperienced.
Provides multiple payment methods
More payment methods are offered by the marketplace. Apart from the than cards or cash payments, marketplaces in-app or on-site payments can be fitted with one-touch practices such as Apple Pay, Google Pay, PayPal One-Touch, Amazon Pay, and more.
Offline stores are being taken over by marketplaces, which are getting more and more in demand over the last few years.
Marketplaces can be created in two models – E-commerce and M-commerce. E-commerce stand for online platform, while M-commerce is a mobile app. One marketplace can be presented in both forms, but the goal remains unchanged – selling/ buying goods and services.
Marketplaces drop on diverse types that revolve around affairs between a vendor and a consumer. Precisely, the type rests on who represents the vendor or customer.
Business-to-business (B2B). Retailers, wholesalers, or manufacturers may act in the roles of vendor or customer.
Business-to-customer (B2C). Individuals act as a customer and enter a marketplace to buy good/services from a business.
Customer-to-customer/ peer-to-peer (C2C/ P2P). Such marketplaces join individuals to sell/ buy goods or services in a single marketplace.
Multivendor marketplaces. A marketplace where several sellers meet for joint purpose – buy or sell goods and service.
Marketplaces across Industries
When I started to think about the industries where it is possible to integrate marketplaces, the examples went far beyond. I listed the ones that are stick out a mile and accompanied by real-life examples, I’m sure you’ve heard of.
Fashion marketplace is one of the most popular marketplace development direction. It’s the platform to discover new brands and find chicky apparel. For designers, it’s a stunning space to present and promote the items.
You definitely aware of ASOS, Zalando, FARFETCH and tons of others.
Travel marketplaces can embrace every aspect of trip planning, starting from selection of the second to none tours to flights and housing. Planning gets so much easier when everything is placed in one place.
Rental marketplaces are aimed for realtors, landlords and lenders solve the housing issue. Such marketplaces should be optimized to handle tons of data and content pieces.
Marketplace can be developed for any industry that includes seller-buyer relation, even the narrowest one. They come in various sizes and serve for different purpuses.
Celadon is reliable marketplace development services provider with vast experience in the field of marketplaces. We have been through highs and lows, but this helped us formulate the sequence of actions for marketplace app development:
Team dives into a project by pricking up the ears to a client’s perception of a marketplace to be built. We stipulate an app goal, its features, functionality and other nuts and bolts. Then we set up a detailed audience discovery, work scale evaluation, costs estimation, and marketing campaign drafting. We end the stage with a projects schedule and paperwork.
Attractive UX and UI are not enough for a marketplace to fly high. Brand, idea, aims, characteristics, and TA are the factors that influence the design solution. At celadon, we work in a close collaboration with clients by allowing them to stay in control of every phase. So, before implementing the design, we make up a prototype for the client’s review. Once it’s approved, the designers translate it into mockups and animated prototypes to understand the users’ logic and behavior. After another approval, we go for drawing of user-focused and convenient UX/ UI. Client’s approval finalizes the stage.
When the design is ready to wear, developers enter the game. The team is pre-selected for every project in compliance with their skills and background. It’s taken as read, we develop a code at this stage. But there’s something to be done before coding, the team determines the process flow and concludes a roadmap. Staying in touch with clients helps to avoid or correct mistakes right away. The stack we use to create a marketplace: react, React Native, JS, typescript, Redux, next.js, express, strapi, mongo db.
QA & Testing
No bugs are allowed. Our QA & Testing aces won’t let the bugs sneak out. We test the code, the team but also marketplace usability, performance, literally everything for the marketplace’s smooth flow. The testers deliver bug reports to the developers to fix bugs. We conduct several tests until the app becomes free of bugs.
Launched. So, what’s next?
At Celadon, we don’t cut ties once a freshly developed marketplace is launched. We keep our collaboration by providing support and maintenance. If needed, a client can order marketing and store optimization for the booming marketplace.
On the final note
Celadon is a team that will lead you to the universe of marketplaces. Our team of professional developers focuses on intuitive, user-advantageous functionality, and bond security of payment to aspire the entrepreneurs to constitute long-term relations with both marketplace players and accelerate the profitability of their business.