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Creating efficiency in an otherwise in-efficient marketplace is the beauty of the online marketplace. Worried about the used mobile phone? Or worried about taking an expensive handset but do not have a budget to buy it. Looking to buy products at the throwaway prices? Products that do not have an afterlife or those who no longer wish to use it after first use are free to display their products on an online marketplace in front of others who are looking for a cheaper option.
Consider an online marketplace where buyers and sellers can conduct online transactions efficiently and conveniently and it is easy for both parties to find each other via a digital middleman that connects them together.
Users need to do
A user enters the online marketplace -> Get registered -> Browse various categories and products -> Add items to cart -> Proceed to checkout
What Sellers need to do
Sellers enter the marketplace -> Get registered -> Sellers create the listings for their goods or services and set properties -> Sellers integrate their logistics and delivery services with the marketplace platform -> Sellers deliver their goods
What Marketplace owners need to do
Marketplace owners create a business plan and define the marketplace type -> Owners then have to decide on technology for online marketplace development -> the future marketplace owner needs to estimate the project timeline -> the owner has to create the marketing strategy to promote his marketplace and let users and sellers know about it
An e-commerce app that allows both buying and selling on its platform is required to follow some basic features to reach and connect with the audience and make them trust upon their platform:
A mobile store app can be deployed to buy/sell/rent anything from new to old items. Amazon inc, OLX, Letgo, Quikr, Dubizzle, Craiglist etc. are some of the examples of applications that allow online buying and selling of old used items like books, furniture, vehicles, laptops, computers, mobile phones etc.
The process to develop a classified mobile app should go like this:
Before starting with the development process, find out what users want and what challenges they face with existing applications. Extensive research is required to look for current trends in the market.
It must ensure that your app contains some distinct features and targets a different audience, before thinking about cloning an existing app.
Online classifieds apps can be horizontal with a variety of services and options like OLX, Quikr, Dubizzle, Craiglist, Shpock, Wallapop etc. or vertical that specializes in a particular variety and service offering. It will not mix anything else with its offering. E.g. – The classified mobile app can sell a variety of items like mobile phones, laptops, vehicles, books etc., or can specialize in selling old used books only. As a result, horizontal product and services offering enjoys a wide client base and sales volume.
Finding out more than one idea is common, but each one must be tested before selecting the one that suits well to your needs. It is important to sketch out a functional prototype and make it run through a series of regression tests before coming out with the outcome.
If you are a mobile developer you can develop it yourself or you can hire an app development team to bring the task on track.
Out of the various monetization models that are applied by any business depending upon their user base and nature of the business, primary ones are as follows:
Online marketplaces are not always reliable and it needs a series of positive and open communication between buyers and sellers to establish trust and transact thereafter. Apps must be built in a way such that they focus on present market trends and also keep an eye on future markets. Another big challenge for the online marketplace is to find and implement the correct revenue sources to earn good money and keep the business running. Finding the right idea and exploring it to yield full results is what is required to succeed in the current marketplace.
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Neeti got her master's degree in software engineering in 2009 and has been working since for software companies of all sizes as a technical writer. What started as a high school passion has now been converted into a serious profession. She has a special knack of learning from all verticals and imbibing the extracts into her writing. She enjoys learning technical aspects of writing from her tasks where her experience and understanding are most impactful.