Create a Marketplace: Grow Your Business

The era of digitalization has brought a lot of powerful solutions for e-commerce. It is pretty simple to move the business online with the help of various applications, but marketplaces made a severe buzz. These apps have started to successfully replace dedicated websites and online stores. What is a marketplace? It is a complex digital platform that connects buyers and sellers. It may be compared to a huge store where users can search through offers from multiple vendors and make a favorable deal. There are already enough big marketplaces, and their success has boosted massive marketplace app development.

What benefits does this solution bring to a business? A marketplace has plenty of advantages for both young startups and big companies:

  •     Vendors get an additional channel for advertising and selling their goods and services.
  •     The geography of sales significantly expands, allowing the business to scale.
  •     Marketplaces attract hundreds, if not thousands, of participants, increasing traffic to each particular store.

Based on the above, marketplace development can become a profitable project. But how to build a marketplace platform that will really work? There are several options for creating this app:

  •     A website builder. It is possible to create a marketplace on Shopify or Magento, but there are a lot of restrictions that may slow down its work.
  •     Open-source software. This method allows starting with a basic marketplace model and adding additional features. However, customization possibilities are pretty limited.
  •     Marketplace code from scratch. This option can be realized only by a team of marketplace developers. It will require time and expertise to build a custom application, but it will not be accessible to third parties and will come with all the needed features.

The third variant can be the most fruitful. Experts know how to create a marketplace app and work according to a clear-cut algorithm for the best results. First of all, they research the market to ensure the idea can be interesting for the end users. Then they create an app prototype to test its performance and collect customer feedback before a full-scale development. Experienced developers have enough knowledge and skills to select the most appropriate tech stack and implement core functionality. They will also take care of the testing stage and technical support. This approach allows the creation of a robust marketplace app that will attract more customers, increase revenue and grow the business.