In 2024, the revenue generated by buys via marketplaces will surpass $7 trillion, compared to $1.7 trillion in 2019. The increasing demand for selling platforms can also be explained by the excellent user experience that allows you to search all of your items in one place. Marketplaces allow shoppers to compare prices and products from different sellers. The marketplaces allow users to compare prices and choose the best product based on quality/price.
Online marketplaces will continue growing in popularity over the coming years. There will be both multipurpose platforms such as Amazon and eBay, as well as narrow-focused solutions such as Etsy and Ububba. In 2022, e-commerce marketplace development will be a smart business decision. These are the top five trends that you should consider when starting such a project.
PLATFORMS READY-MADE
Different business models require different development approaches. Companies may prioritize project launch speed over unique capabilities. Others are lacking e-commerce app developers, and they look for minimal to no-coding tools.
Many entrepreneurs are looking for the best way to create a marketplace app. It is not surprising that there are many multi-vendor platforms for development.
What are these platforms and how can they be used to help businesses start their own online marketplaces?
Lego is a great way to quickly grasp the basics of what each piece does. There are many details that can be used to assemble a particular figure. The same applies to e-commerce marketplace software. This allows you to create multi-vendor solutions using predefined templates. This approach has one major drawback: it relies on third-party software. Your marketplace's functionality will be limited by the technical capabilities chosen software provider.
Here are the top options for creating a marketplace with SaaS marketplace platforms:
SHOPIFY
Shopify is a website builder. This means that you can create an online store using a graphical user interface (GUI). No coding skills are required if you don't plan to modify the store theme or alter non-basic settings.
Pros
- Integration with multiple sales channels
- Over 100 payment systems supported worldwide
- Ability to sell digital and physical products
Cons
- Advanced features at high prices
- Some countries have limitations on Shopify Payments
- Shopify's programming language Liquid is required to customize the theme.
WIX
Wix is best known for its simple website builder that uses drag-and-drop components. Wix's eCommerce platform is no less user-friendly. It offers all the functionality needed for beginner sellers and allows you to launch a simple selling platform in just days.
Pros
- Quick setup
- There are many customization options
- Affordable prices
Cons
- There are fewer features than other e-commerce platforms
- Only a paid plan offers analytics and tracking.
- Some SEO tools might not be able to meet the demands of demanding users
BIGCOMMERCE
Another major player in the eCommerce market is Amazon. It offers advanced functionality for marketplace web development. Big Commerce is a great choice for both novice and advanced merchants. It has an intuitive interface, and many features to meet the needs of even the most demanding customers.
Pros
- Advanced management tools for products and orders.
- There are no transaction fees
- 24/7 customer support
Cons
- Custom themes that are expensive
- There are strict limitations on the number of online sales.
- Merchants who sell digital goods face challenging tax rules
ADOBE COMMERCE
This was the old Magento platform that Adobe has lost. This platform is intended for B2B and B2C segments. It also offers all functionality necessary to run multi-vendor software.
Pros
- Starter Plan Free
- Numerous customization options
- There are many Magento developers
Cons
- Strong development skills are needed for complex setups
- Inadequacy of native SEO tools
- Limited multichannel strategy
ARCADIER
Arcadier, a webmaster tool, allows you to create a marketplace that rents spaces, orders services, and purchases goods. Arcadier is a webmaster tool that allows you to modify the platform with advanced programming tools, rather than following a template-based approach like its predecessors.
Pros
- Private market
- Robust search bar
- Integration with any payment service provider
Cons
- API development is expensive
- There is no way to sell digital products
- Non-experienced users may find it difficult to use.
BLOCKCHAIN ECOMMERCE MARKETPLACE
Blockchain technology is made up of decentralized blocks that track, verify, and track transactions between parties. Blockchain was once associated with cryptocurrency. Blockchain is now used in many industries, including e-commerce development services.
Statista predicts that B2B cross-border transactions using blockchain will exceed $1,77million in 2025. This is three times higher than the same indicator for 2022. E-commerce developers today use a variety of methods to include blockchain in their projects. They may use it as the main marketplace technology, while others will extend functionality.
These are some ways you can use blockchain in your projects if you don't want the OpenBazaar model.
- Accept cryptocurrency. This will expand your payment options and increase your chance of selling. Cryptocurrency transactions allow transparent payments and foreign payments that are free of fees.
- Check product history. You can allow sellers to prove their brand identity and increase customer trust with blockchain.
- Assure warranty. If the buyer has a warranty claim, they can easily prove product ownership using the distributed ledger records.
BUY NOW and PAY LATER INTEGRATION
Customers can postpone payment on goods they have received immediately with BNPL. BNPL functionality allows customers to purchase high-value or low-value products through either long-term or short-term installment plans.
Integrating the BNPL functionality is a great opportunity for sellers
- fewer cart abandonments
- Conversions higher
- More sales
- More clients
- Higher brand trust
The development team must integrate a BNPL solution in order to add this feature into the marketplace software. The most popular BNPL service are Affirm (afterpay), Sezzle, Klarna, and Sezzle. The more you integrate them, the better. A wide variety of options will improve user experience and allow customers to choose the most convenient method of payment.
DELIVERY IS IMPORTANT: FASTER THAN CHEAP
People have to be able to make quick decisions and choose the services they use because of the fast pace of modern life. Customers today place great importance on a positive user experience. Customers are willing to spend more for superior products, faster delivery, and better support.
Customers expect to receive their goods within 2-7 days when they order clothes, furniture, cosmetics, or other manufactured goods. Customers expect to receive their groceries within one hour.
The Statista research shows that half of US shoppers use fast grocery delivery services. Entrepreneurs who are interested in eCommerce app development must establish a reliable logistics system.
You can integrate shipping API to partner with local short-distance carrier operators that execute delivery by bike, scooter, and foot. Express delivery will increase your sales and profits, attract more customers, and build trust in your brand.
SUMMING UP
There are many online shops that offer a large selection of goods. However, there is confusion as to which seller to buy from. This problem is solved by e-commerce marketplaces, which bring together all sellers. E-commerce marketplaces allow customers to compare prices and find the best store for their needs.
E-commerce developers will be highly in demand by 2022 as marketplace development is a certain trend. Finding true specialists can be difficult and it can take months, even years, to find the right people.
We have extensive experience in developing marketplaces for mobile and web platforms at Nimble Appgenie Contact us if you are interested in starting an e-commerce venture and need a skilled development team. We are happy to assist.
Ecommerce platforms and apps never gets less impression on any closing period of a year since digital revolution.
This sector have always been popular but the post-pandemic era has boosted ecommerce predominance, exponentially.
As we are still in pandemic, people across the globe shying to visit offline stores and preferring virtual stores to grab their stuff in order to break the chain and to stay away from disease which in turn boosted the ecommerce app development.Great Demand for E-commerce in 2021:According to a report, sales via mobile apps worldwide are estimated at $2.3 trillion in 2019 and predicted to hit $3.5 trillion in 2021, which will compile 72.9% of total e-Commerce.Benefits in developing E-Commerce Mobile Apps for Your BusinessMobile commerce is emerging exponentially in recent times.
Actually, there are several reasons why you should have a mobile solution for your business.Just imagine how much does it cost to set a physical store in every cities or countries to target those audience.
This is why several entrepreneurs are going with ecommerce app development in order to enhance their revenue.
Apart from this, you could find out tons of reasons to pick ecommerce app.We’ve picked out the some important benefits of e-Commerce apps for your business.Better Efficiency and Improves RevenueVirtual Payments ( Contactless )Greater reach in marketBrand recognition24/7 Availability How can you Shine Unique in E-commerce Sector?
Mobile Ecommerce is the next big thing and as a business you must consider having an ecommerce store.
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These mobile applications can also help your business to generate massive revenue because of their amazing features.Mobile apps bring a huge change in the marketplace that we generally have to use in our daily life, such as hotels, transfer money, order products, and dining out.
Many business platforms use mobile apps to increase their growth and maximize their customer reach in all shapes and sizes.Mobile apps have revolutionized the e-commerce landscape as e-commerce app development services are gaining huge demand in the market by various businesses.Role of Mobile Apps for e-commerce Businesses of All SizesEarlier, mobile applications were just used by popular brands such as Bank of America, Harrods, and Walmart to increase their business growth.
But nowadays, even small startups can increase their business using mobile applications.
These apps are easily available on play stores or any other platforms from where you can easily access and send them to your audience.
Mobile apps offer a lot of advantages that may help in the growth of your customer base as well as increasing their engagement.To increase the sales, the loyalty of the customer's e-commerce app services are the prolific ones to carry the business with the pace.
There are various benefits that e-commerce app development provides enterprises.Given below are some benefits of using mobile apps for generating massive revenue for your e-commerce business.Loyal CustomerThese apps tend to build & cultivate customer loyalty that may help in creating an instantaneous and direct relationship with your customers.
