Building efficiency in an inefficient marketplace is the true benefit of an online marketplace. Worried about getting a smartphone, or worried about having a costly gadget but do not have the budget to buy it? Looking to buy a product at a throwaway price? Gadgets and products do not have an afterlife, and people who do not wish to use it anymore can sell the products via an online marketplace in front of other people who may be looking for cheaper products.

Take the case of an online marketplace where the buyers and sellers can conduct online transactions effectively and quickly which is simple for both parties to find each other with the help of a digital middleman that can help to connect them.

Know-How to Make the Online Marketplace Work

What users need to do

Users enter an online marketplace and they get registered there soon. They browse various categories, products and add each item to cart. After this, they proceed to checkout.

What the sellers need to do

The sellers can enter the marketplace; they can get registered in the market. The sellers then make a list of their products or services and set properties. Vendors integrate their logistics and delivery methodologies in the marketplace platform. Then the sellers deliver their products.

What the marketplace owners need to do

Marketplace owners can develop a business plan and the type of marketplace they wish for. The owners then have to decide the best technology for the online marketplace development. The future marketplace owner needs to estimate the project timeline. The owner will create the marketing strategy to promote his / her online marketplace and let the sellers and users know about the market.

Trends That Will Change the Way Customers Will Shop

An e-commerce app that will allow both buying and selling on its platform is required to follow essential guidelines in order to connect and reach with the users and make them trust upon their platform.

Democratized flash sales- Various offers, discounts, sales and everything that sounds a profit or has a slash on its basic price drives customer’s attention. They always wanted to purchase branded products used by celebrities at a rate that their pocket allows. This trick is still in, and an online ecommerce platform has to accept this to be successful.
Connecting with the audience- Out of the methods to communicate with the audience, providing them discounts, cashback, providing anniversary and birthday discounts, etc. leave a positive impression on the customer’s minds and always provide them a chance to look back.
Shopping becomes more social- Sharing the social experience on social media or offering discounts.

In-app platforms are breaking the hurdles of physical stores and online websites.

How to Create an App like OLX, Quikr, etc.?

A store app can be developed to buy/sell/ rent anything from new to old items. Some market leaders allow online buying and selling of old used items, furniture, mobile phones, computers, mobile, etc.

The process to develop a classified mobile app should go this way:

• Developing Process of Buy/Sell Classified Mobile App

Before starting off with the development process, find out what users want and what challenges they face with existing applications. Extensive research is required in order to look for current trends in the market.

• Generate an idea for an app

You have to ensure that your mobile app idea contains some distinct features and targets a different audience before thinking about cloning an existing app.

• There must be options for online classified app

Online classifieds apps can be horizontal with a variety of services and options like Quikr and OLX or vertical that are distinct in a particular range and service offering. It will not mix anything else with its offering. For example, the Classified mobile app can sell a variety of items like mobile phones, vehicles, books, etc, also can specialize in selling old used items only. As a result, horizontal products and services offering enjoys a broad client base and sales volume.

• Testing various ideas

Finding out more than a single thought is common, but every day must be checked before selecting one that well suits your needs. It is important to sketch out a functional prototype and make it run through a series of regression tests before having an outcome.

• Hire a dedicated mobile app development team

If you are a mobile app developer, you can develop it yourself or you can hire an app development team to bring the task on track.

Challenges Faced by Online Classifieds App

Disconnect between buyers and sellers: One of the primary challenges faced by people is a source of synchronized communication between the sellers and buyers.
Lack of proper information: Problems arise due to lack of knowledge in product description or incorrect product description.
Authenticity and trust issues: Contacting third-party sellers directly becomes a task, and it gets even tougher if return and refund policies are not properly defined.
Issues with revenue models to fulfil the cost of running the business and gaining profit.

Cover Note

The 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 after that. Apps must be built in such a way that they focus on present-day market trends and also keep an eye on the futures markets. Another big challenge for the online marketplace is to find and implement the exact revenue sources in order to earn money and keep running the business. Finding the right idea and expecting full result is what is needed for the success of an online marketplace.

Hire dedicated app developers who are driven to keep their talents high in most widely used technologies today.