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eCommerce Marketplace Development

Q: What is an example of an eCommerce marketplace?

Examples of online marketplaces include Amazon, eBay, Upwork, and Craigslist. These are global marketplaces that target relevant customers around the world irrespective of the product or service category. Niche platforms like StockX, TrueFacet, Chegg, Zillow focus on particular types of industries or categories. Marketplaces like Etsy, Couchsurfing, DogVacay, and Poshmark present goods or services with unifying characteristics.

Q: What are the options for marketplace development?

There are different options for eCommerce marketplace development. Go with SaaS solutions or website builders, which let you build a generic marketplace. This option has a price range of $1000 – $5,000. Use API-based software or build necessary features on top of open-source software. In the latter case, you’ll require development skills or hire a team of eCommerce marketplace developers. The budget ranges from $5,000 to $50,000. Build a custom marketplace from scratch, which enables you to build personalized business logic. The rough estimate for this option is $50,000-$300,000+.

Q: How much would it cost to create a custom eCommerce marketplace website from scratch?

You can assess the approximate costs for eCommerce marketplace website development from scratch based on the amount of time necessary to complete the task. To start with, it will take approximately 1,000 hours to implement the most basic features of your website. However, the exact amount of time depends on the unique requirements of your particular project. It is also necessary to consider the hourly rates of the eCommerce marketplace service provider you’ve chosen for the project.

Q: How much time does it take to develop a marketplace MVP?

It is necessary to take into account the basic features to validate a business idea. Here’s what the approximate time estimation for their development looks like: UX/UI Development – 42 hours Authorization and Security – 72 hours User Profiles – 42 hours Home page – 84 hours Search and filters – 96 hours Product page – 42 hours Reviews & ratings – 48 hours Shopping cart – 64 hours Payments – 42 hours Notifications – 32 hours Buyer panel – 120 hours Vendor panel – 164 hours

Geomotiv is dedicated to bringing custom eCommerce marketplace solutions to life and helping them grow and prosper. Let eCommerce marketplace developers put their creative minds to tasks of any scale and complexity.

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Overview

eCommerce Marketplace Software in a Nutshell

A marketplace is a platform where multiple vendors can come together to present and sell a broad assortment of products and services to a wide customer base. The platform facilitates transactions between buyers and sellers and gains a commission from each sale, while third-party vendors deal with manufacturing and shipping. The role of a marketplace owner is to ensure a great volume of quality traffic from search engines and engage users with a functional, intuitive, and aesthetic shopping experience.

Besides, the platform needs to provide simple payment methods, rewards and discounts, notifications, social media integrations, ratings and reviews, and other powerful features.
But to win more customers and ensure a high conversion rate for their businesses, you need to develop an outstanding platform that will satisfy all marketplaces participants. Being an experienced eCommerce marketplace website development company, Geomotiv builds unique software with end-user needs in mind.
We thoroughly analyze your target audience, align with their expectations, and deliver intuitive custom apps that end-users will love. Geomotiv is ready to create a competitive solution that complies with the latest industry and tech trends and quickly resolve any arising issues. With us, you will be able to leverage a secure, scalable, and maintainable marketplace and add new functionality when needed.

Your Options

Custom vs Open-Source eCommerce
Marketplace Solutions

Custom development

Pros
– access to qualified experts proficient in cutting-edge technologies for eCommerce marketplace development;
– purpose-built product that is aligned with your goals and vision;
– flexible architecture that integrates well with current and future components;
– compliance with industry standards, privacy, and security requirements;
– scalability that responds to future needs;
– end-to-end approach to development, dedication throughout the development process and beyond.
Cons
– high upfront costs associated with hiring a professional development team for custom marketplace development;
– relatively high time investment;
– labor-intensive requirements gathering process.

Open-source development

Pros
– reduced expenditures and lower total cost of ownership;
– freedom to choose from a variety of vendors on the market;
– vast community support in improving the solution and its security;
– innovative features based on the latest techs.
Cons
– template-based design with basic functionality;
– data challenges under heavy load and rising traffic;
– additional team training to address GUI’s inefficiency and lack of user-friendly interface;
– integration with third-party services to enable additional functionality.

At a Glance

Infrastructure Choices for Your eCommerce Marketplace Software

Cloud-based solutions

Pros:

“pay-per-usage” pricing model about the type of the cloud service (IaaS, PaaS, SaaS);
flexibility, high availability, on-demand scalability, enhanced security, and reduced costs.

Cons:

more than 40% of companies fail at public cloud cost management;
most companies opt for hybrid cloud strategies as they still rely on on-premise solutions for their mission-critical workflows.

On-premise solutions

Pros:

complete control of all infrastructure elements;
streamlined marketplace’s performance, extended functionality, enhanced consumer data security.

Cons:

high management costs;
recurring fees for licensing, facilities, support, and service contracts.

Hosting service solutions

Pros:

no server and hosting worries;
ease of management, complete configuration, maintenance, and support;
ideal for first-time entrepreneurs and startups with tight budgets and those lacking tech expertise.

Cons:

limited customization options and flexibility;
low performance and website speed;
extra effort is required to protect sensitive data.

Key Functionality

Features that Go with eCommerce Marketplace
Website Development

Key Marketplace
Features

User account;
Vendor/Merchant panel;
Admin dashboard with reporting & analytics;
Payment gateway and checkout;
Product catalog and product pages;
Category pages;
Online shopping cart;
Customer reviews & ratings;
Search & filtering engine;
Messaging & notifications;
Recommendation engine & suggestion sections;
Monetization features.

Advanced Marketplace Features

“Sell more” features:
discount campaigns, promote listings, coupon codes;
Order tracking, integration with third-party shipping providers;
Marketing features (social media integrations, automated SEO, user-friendly interface);
Advanced analytics and reporting;
Customizable front stores for vendors;
A standalone mobile application;
Badges and performance scores;
Multi-user access to a vendor’s account.

Ready to win new customers with a feature-rich and customizable marketplace?

Let’s discuss your business plan and further actions together!

Solution Spectrum

Kinds of Online Marketplace Platforms We Deliver

By Target Customer Type	By Business Focus
B2B This kind of platform helps to distribute goods and services from one business system to another	Horizontal This kind of platform aggregates products and services with common attributes
B2C This kind of platform helps businesses to sell their products directly to customers	Vertical This kind of platform offers products and services aimed at specific niches, industries, or customer types
C2C (P2P) This kind of platform provides its users a space for sharing products and services	Global This kind of platform facilitates the buying and selling of a broad category of products and services

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