The times that we're currently living in clearly demonstrates why we need an online platform to interact more than the offline ones. Be it education, business, or shopping, the internet has become the soul of this world, and without it, our lives would come to a standstill. And since we have mentioned shopping above, it is one of the most rapidly growing online-markets and for all the right reasons. Also, when it comes to buying & selling Mobile App Like Melltoo, they are excelling in providing people what they need. Moreover, with so many apps and websites today, everything is just one finger-tap away.
This has made the entire task of purchasing then taking it to the cash-counter and waiting in line, to a recreational activity on your smartphone. If you remember, hunting for the right thing in the store also was a task with significantly fewer options. Now you browse through things, pick what you like, add it to your cart, make the payment, and just like that the job is done. So if you are sure that you want to Develop a Reselling Platform App Like Melltoo, however, don't know where to start, check out the guide below.
Also, if you want to learn about the mobile app development process in detail, we have curated a series of blogs for it. Check the index given below and click on it to refer to the blog.
12. What is the variation in the cost? What factors affect the variation?
13. Why is a Good design the ultimate thing in the project?
Now, let's understand what an online marketplace look like:
What is an Online Marketplace?
An online marketplace is a platform that facilitates buying and selling either through a website or an app. It allows sellers and buyers to conduct online transactions with each other and can be a major boost for businesses. Moreover, the reach of an online marketplace is much broader as customers have multiple categories of products as well as multiple sources to choose from.
Most customers would prefer a platform that offers multiple retailers instead of just one. The inventories of the sellers are made directly available to the customers with all the relevant information. Some significant examples are Amazon, Melltoo, and eBay, where anyone can buy or sell anything from anywhere around the globe.
Also, there isn't one but various kinds of the marketplace, and enlisted are some:
Types of Marketplace
The marketplace can be divided into 3 broad categories:
Vertical Marketplace: This type of marketplace sells only one type of product, such as only clothes or medicine. Although the sources will be multiple, focus would be on one category only. For instance, an app solely dedicated to selling shoes.
Horizontal Marketplace: This e-market category provides a wide variety of products, but they share similar properties. Also, this has a limited appeal as only a specific community of people will buy things from here, such as sports enthusiasts.
Global Marketplace: This is even wider than a horizontal marketplace as it will have everything, ranging from clothes to home décor and even jewellery in some cases. The customers mostly prefer these types of apps and websites as they get to choose from a wide variety of stuff.
Most of all, it's their one-stop destination for anything they want or need. Amazon and eBay are two leading global marketplace apps that let people sell and buy almost anything, from anywhere across the globe.
Now, that you understand a marketplace good enough, you must know how it can help in business.
Benefits of Investing in Reselling Mobile App Development
If you want your business to grow beyond the limitations of a typical store, investing in Reselling Mobile App Development might be your solution.
Revenue generation: If you are the operator of a marketplace platform, you should devise the revenue-generating system very tactfully as that is how you will make money. What you need to keep in mind is that your revenue model should align with the customers that you’re going to target.
Also, it must align with the products that you’re going to sell using Buying & Selling Mobile Apps like Melltoo. Revenue can be generated from a multitude of ways such as advertising, commission, affiliate programs, and subscriptions. There are other numerous sources, but you should only stick to those that line-up with your business target.
Automation: An online marketplace app is almost entirely automated and requires only occasional supervision by the operator. The whole process of buying and selling of goods is done through the interface, and there is no need for any written document or paperwork. This not only makes it convenient for the buyers and the sellers but also for the person who owns the platform.
Value Proposition: Creating the value proposition for your app is very crucial and should be centred on the target audience so satisfaction is delivered and profits obtained. The perks of having an online platform are that customers can be integrated into the system. They can rate and review products, which helps other customers in making smart choices. This way, the customer can get an overview of the services and products offered, delivery services, and most of all, the quality offered.
Business Expansion: One major benefit of the marketplace is that it requires minimum investment when compared to stores. Due to high accessibility, the goods are mostly sold rapidly, leading to a deficit in supply.
Therefore, the owner of the marketplace should keep the goods in stock so the business can stay in motion. The products that are being sold quickly should be restocked, and the quality should also be kept in check. Mostly brands that offer quality at a reasonable price can establish themselves and expand their customer base.
Appealing: An online marketplace is, without a doubt, the more attractive place to shop. The wide variety of products, as well as availability from different suppliers, makes it the more desirable option. After building a marketplace, maintaining it is very important for creating a long-term customer base.
By now, you have understood that there are plenty of good aspects of developing a reselling app to your business. So here is how you can go about making it by taking one step at a time:
Step-by-Step guide on how to Build Reselling App Like Melltoo
STEP 1: Central Idea
Every business venture is built on a central idea. So the first step on how to make a Reselling App Like Melltoo would be to decide what your marketplace would mainly focus on. For instance, if you want to provide people with a place to buy and sell a wide variety of products, your primary focus should be on increasing the accessibility between the sellers and the customers.
The process should feel easy because if it's too complicated, the customers might not make another purchase. To facilitate business between the two parties, your platform should also offer accessible communication.
Step 2: Business Model
A marketplace has many types of business models, and you have to choose the one that complements your central strategy the most. When it comes to a B2B model, it is where the marketplace offers business between two companies. In C2B and B2C type, the transaction is between customer and company and company and a customer respectively. However, in the C2C model is where there is a business between customer and customer.
There are also models where the government is involved in business transactions such as G2G, G2B, and G2C. The business model for a marketplace should be based on the services that it’s going to deliver and the delivery services that it can provide.
Moreover, the monetization of an app depends on the most commonly preferred one is the commission-based revenue system. For every transaction that happens in the marketplace, a certain amount of commission is charged. Other revenue-generating techniques include membership programs. Membership programs offer special discounts and an overall personalized and efficient service to the customers.
This can greatly impact the revenue if the services provided are of high quality. Subscriptions have shown to generate large amounts of financial inflow for the marketplace and also increase the likelihood of a customer engaging in multiple purchases. Other than these you can also earn money through third-party ads but make sure that they’re relevant to the customer base you’re targeting.
STEP 3: Features of Buying & Selling Mobile App
For a marketplace app to be successful, it should stand out from its competitors. For this purpose, you must develop a Buying & Selling Mobile App Like Melltoo that has the combination of the best oldest and newest features. Moreover, these given features will make an app easy and user-friendly as well:
Registration: The option to get registered is an essential feature of any marketplace app. The login/sign up allows the users to set up an account where they can add personal information such as mobile numbers and addresses. This makes it easier for the sellers as well as customers to establish a trustworthy bond and registered users also have a more convenient experience than unregistered ones.
Shopping Inventory: The items should be organized category-wise with the feature to sort and filter to a very narrow range. The customer should be able to sort the products based on size, colour, brand, price, occasion, etc. This makes the shopping experience hassle-free and also increases the probability of multiple transactions.
Product Details: All the necessary details of a product should be readily available to the customer. The seller should try to make sure that all queries regarding the functioning or use of a product are appropriately answered. Also, if there's a feature to compare the products, it can facilitate the buying experience even more. This way, the customer can choose the better option and be more satisfied with the purchase.
Rating and Reviews: This is a vital feature nowadays and builds a mutual bond of trust between the customers and the sellers as well as the customers and the marketplace platform. The ratings and reviews help the consumers in choosing the right product and also keep a check on the quality. This acts as a filter for segregating unreliable sellers and can help to improve the standard of products as well as services offered on the marketplace.
Built-in Chat: Built-in chat support is very crucial in delivering instant responses to the queries of the customers. Having a chatbot is an excellent way of minimizing human work while providing instant feedback and replies to the issues that a customer is facing. In case if AI cannot handle the queries, the customer must be able to talk with customer support directly.
Language and Currency: The app should support multiple languages and currencies to be able to target a broader customer base. The customers can choose their preferred language and avoid confusion about the price, features, and services offered.
CMS and CRM Integration: A content management tool is convenient for the admin of the app as it allows him to manage the page better. A customer resource management system, on the other hand, helps in managing the customer better. It keeps track of the information about a customer such as orders, feedbacks, reviews, etc. and helps in providing a more personalized experience.
Built-in Camera: This feature makes the whole process of adding product photos into the app a lot easier. The sellers can directly upload the photos and edit them according to their preferences.
Payment and Tracking: The customer should be able to make the payment through their preferred mode and also from a safe gateway. The tracking feature helps in keeping the customer updated about the location of their order.
SMS Feature: The users can be kept informed about the upcoming sales, discounts, and other updates through this feature.
STEP 4: Hire Mobile App Developers
This is the most important step after you’ve decided on the idea to build Marketplace App Like Melltoo in UAE, the business or revenue generation model, technology stack, and features for your marketplace platform. The team that you will consist of is a project manager, a programmer, UX/UI Designers, a backend developer, and in some cases, more than one iOS/ android developer.
Keeping in check the overall process of making the reselling app, features, etc. it’s crucial that you also know how a user or seller uses it.
Role of proper app Functioning and design
The functioning of a marketplace app occurs on two fronts: the selling and the buying. Moreover, the design of the reselling on-demand App Development must allow users and sellers to navigate through these fronts easily. When it comes to the sellers, they have to register on the app and make an account. After that, they have to upload the photos and other details of the products they want to sell.
The buyers also begin with a similar step of login/ sign up, but they don't need to register. They can make purchases without registering on the app. Also, they can browse through a wide variety of products, choose the right one, and add it to the cart. After this, the payment window opens, and by choosing their preferred mode of payment, they can complete the purchase. Furthermore, the order can be tracked via the tracking feature, and delivery details are also made available.
Cost to Develop Reselling Platform App Like Melltoo
The cost to develop a Reselling Platform App Like Melltoo depends on several factors and hence, somewhat variation in the cost is always expected. The very first factor is how complex the app is. The more features you add, the more costly it will be but would also yield more profit if the features enhance the user experience on a broad scale. Moreover, how big the team of developers is and which country they belong to are huge deciding factors. If you want your app to function on multiple OS platforms, the charges would automatically go up.
The developmental cost also largely depends on how much the app developers charge per hour. If the team has an immense brand value in the market, their rates would also be relatively high. It can range between $20000 to even $65000.
A well-strategized ad-campaign is extremely important for the successful marketing of the app. Since you're a marketplace owner, you need to attract both buyers and sellers. The sellers should see your app as a platform where they can promote their business while the customers should see it as an easy and reliable mode of making purchases.
In today's time, we have many options to make the marketing task successful. Advertising on the internet is cost-friendly as well as efficient as the internet has a global reach. Social media platforms, emails, and even television and radio can be used as a means of marketing the app. An online presence is very important for any marketplace app to work, and this would help in building that. Moreover, the customers should feel prompted to download the app, and their interest should be retained throughout.
Once the above points are checked, an MVP for user testing has to be made for improved quality of the final product.
MVP and Testing
A prototype of the application is an important way of getting an idea of the market as well as the target customer base. The MVP (minimum viable product) is one that has enough features for customers to try it and provide valuable feedback. With the help of this feedback, you will get to know how well your product is doing in the market. This early testing phase is crucial and can save you from substantial financial losses in the future. It also helps with the assurance in terms of apps' overall quality, which keep the user base intact after investing in it.
Shoppers on the online marketplace platform are increasing day by day. Retailers now have the choice to expand their business and deliver to customers who were earlier out of their reach. Also, many international brands have become accessible globally because of the reach that this platform has. Apps have become the number one medium for sellers to conduct business with the customers. Furthermore, these online marketplace apps are rapidly becoming a promising and efficient medium for delivering fast and quality services. So if you have in mind a good startup idea around buying and selling an app, get in touch with our experts to get it developed.