Marketplace app development services for seamless buyer-seller interaction

Marketplaces generate revenue through several key methods, depending on their business model and the type of goods or services they facilitate. Here are some of the most common revenue streams for marketplaces:

• Transaction Fees: A percentage of each sale, charged to sellers, buyers, or both (e.g., eBay).
• Listing Fees: Charges for listing items, regardless of sales (e.g., Etsy).
• Subscription Fees: Monthly fees for premium memberships or enhanced features (e.g., Amazon’s Professional Seller plan).
• Advertising Fees: Sellers pay for sponsored listings or ads to boost visibility (e.g., Amazon).
• Payment Processing Fees: Fees for handling payments, in addition to transaction fees (e.g., Airbnb).
• Freemium Model: Basic services are free; premium features require a subscription (e.g., LinkedIn).
• Commission on Services: A percentage of service provider earnings (e.g., Upwork).
• Data Monetization: Selling insights from user data to third parties.
• Fulfilment Services: Fees for warehousing, packaging, and shipping (e.g., Amazon FBA).
• Value-Added Services: Extra services like insurance or financing for an additional fee (e.g., Airbnb).

The cost of developing a marketplace application depends on verious factors, including the complexity of the project and the number of features. On average, the cost can range from $100,000 to $250,000.

At itCraft, the multi-vendor e-commerce app development process begins with Product Discovery, where we dive deep into your users’ needs and use proven frameworks to find tangible solutions. This is followed by Product Design, where our UX/UI experts create intuitive and engaging interfaces. Throughout the design phase, we develop and refine prototypes to validate concepts, test user interactions, and ensure alignment with your vision. During the Development phase, our skilled engineers build iOS, Android, and web apps, along with back-end systems and admin panels. Finally, we provide Support through a dedicated help-desk team to ensure your app operates smoothly and effectively.

At itCraft, we ensure the quality of our marketplace app development services through a structured process that encompasses planning, design, development, and testing. Our adherence to ISO 9001 standards for quality management systems reflects our commitment to high performance, security, and compliance, ensuring that our marketplace apps are reliable and effective.

We prioritize data security by implementing advanced measures such as encryption and secure authentication. Our dedication to safeguarding sensitive information is further validated by our ISO 27001 certification, which confirms our adherence to best practices in data protection.

We ensure secure transactions in a marketplace app by implementing robust encryption protocols, such as SSL/TLS, to protect data in transit. We also integrate secure payment gateways that comply with PCI DSS standards to safeguard credit card information. Additionally, our development process includes regular security audits, two-factor authentication (2FA), and fraud detection mechanisms to further enhance transaction security and protect both buyers and sellers.

Marketplace apps typically include several key features to provide a seamless and efficient experience for users. Some of the main features include:

• User registration and profiles: Both buyers and sellers need to create an account and set up their profiles, providing essential information such as contact details, preferences, and payment information.
• Product or service listings: Sellers can create and manage their listings, including detailed descriptions, images, pricing, and availability.
• Search and filters: Buyers can easily find the products or services they’re looking for by using the search functionality and applying filters based on their preferences or requirements.
• Ratings and reviews: Users can rate and review products or services, which helps build trust and credibility within the marketplace.
• Communication tools: Marketplace apps should provide messaging tools that enable buyers and sellers to communicate directly, facilitating smooth transactions and addressing any questions or concerns.
• Shopping cart and payment processing: Apps need a secure and user-friendly payment system that allows buyers to add items to their cart and complete transactions seamlessly.
• Order management: Sellers can manage orders, update shipping information, and process refunds or returns, while buyers can track their orders and view their purchase history.
• Notifications and alerts: Marketplace apps should send timely notifications to keep users informed about important updates, such as new messages, order status changes, or promotional offers.
• Analytics and reporting: For marketplace owners, having access to data and insights on user behavior, sales, and other key metrics can help optimize the platform and drive growth.
• Admin panel: A robust admin panel allows the marketplace owner to manage users, listings, payments, and other aspects of the platform efficiently.

Uber-like apps, or on-demand service applications, connect customers with service providers in real-time and across various industries. These apps typically include several features to provide a seamless and efficient user experience:

• User registration and profiles: Both customers and service providers need to create an account and set up their profiles, providing essential information such as contact details, preferences, and payment information.
• Real-time tracking: Users can track the location and progress of the service provider in real-time, offering transparency and peace of mind.
• Estimated time of arrival (ETA): The app calculates and displays the estimated time of arrival for the service provider, allowing users to plan accordingly.
• Transparent pricing: Pricing is displayed upfront before a service is requested, ensuring users are aware of the costs involved and can make informed decisions.
• In-app payments: Secure and user-friendly payment processing within the app, enabling users to make transactions seamlessly without the need for cash or external payment methods.
• Ratings and reviews: Users can rate and review service providers after the completion of a service, helping to maintain quality standards and build trust within the platform.
• Push notifications: Timely notifications keep users informed about important updates, such as the arrival of the service provider or changes to their booking.
• Booking history: Users can view their past bookings, making it easy to access relevant information or repeat a previous service.
• Customer support: In-app customer support features ensure users can quickly get assistance with any questions or concerns they may have.
• Cancellation and rescheduling: Users can easily cancel or reschedule bookings, providing flexibility and convenience.
• Promotions and referral programs: In-app promotions and referral incentives encourage users to invite friends and family to use the app, driving platform growth and user engagement.

These features work together to create a streamlined and user-friendly experience for both customers and service providers, making Uber-like apps popular across a wide range of industries.

mCommerce apps, or mobile commerce applications, are designed to provide an engaging and seamless shopping experience for customers. The main features of these apps include: 

• User-friendly interface: An intuitive and visually appealing interface that makes it easy for customers to browse, search, and purchase products or services.
• Product catalog: A comprehensive and organized product catalog, with detailed descriptions, images, and pricing information, allowing customers to easily find and compare items.
• Search and filters: Advanced search functionality, along with customizable filters, enabling users to quickly locate products or services based on their preferences or requirements.
• Shopping cart: A simple and efficient shopping cart system that allows customers to add items, review their order, and make changes as needed before proceeding to checkout.
• Secure payment processing: Integration with secure and reliable payment gateways, ensuring that customers can complete transactions with confidence and ease.
• Order tracking and history: Features that enable customers to track the status of their orders and view their purchase history, providing transparency and peace of mind.
• Personalization: Personalized product recommendations, offers, and promotions based on user behavior and preferences, creating a more tailored and engaging shopping experience.
• Push notifications: Timely alerts and updates related to order status, promotions, and new product launches, helping to keep customers informed and engaged with the brand.
• Customer reviews and ratings: A system for customers to provide feedback on products or services, helping to build trust and credibility within the mCommerce app.
• Customer support: Integrated customer support features, such as live chat or in-app messaging, ensuring that customers can easily get assistance with any questions or issues they may encounter.
• Social media integration: The ability for customers to share their favorite products, wish lists, or purchases on social media platforms, increasing brand visibility and encouraging word-of-mouth marketing.
• Multi-platform compatibility: Ensuring that the mCommerce app is accessible across different devices and operating systems, providing a consistent user experience for all customers.

Loyalty apps are designed to enhance customer engagement and foster brand loyalty by offering rewards, incentives, and personalized experiences. The main features of these apps include:

• User registration and profiles: Customers can create accounts and set up their profiles, providing essential information such as contact details and preferences to enable personalized offers and rewards.
• Reward tracking: A system to track and manage loyalty points, rewards, or other incentives, allowing customers to easily view their progress and redeem rewards when eligible.
• Tiered membership levels: Different levels of membership that offer varying benefits and rewards, incentivizing customers to engage more with the brand and make repeat purchases.
  Personalized offers and promotions: Tailored discounts, promotions, or product recommendations based on customers’ preferences, purchase history, or behavior, providing a more engaging and relevant experience.
• Push notifications: Timely alerts and updates related to new promotions, reward status, or exclusive events, keeping customers informed and engaged.
• In-app redemption: The ability to redeem rewards, discounts, or other offers directly within the app, providing a seamless and convenient experience for customers.
• Social media integration: Features that enable customers to share their achievements, rewards, or favorite products on social media platforms, promoting brand visibility and fostering a sense of community.
• Gamification elements: Incorporating game-like elements such as challenges, badges, or leaderboards to make the loyalty program more fun and engaging for customers.
• Analytics and reporting: Access to data and insights on customer behavior, engagement, and program performance, helping businesses to optimize their loyalty strategies and drive growth.
• Integration with other systems: Seamless integration with existing CRM, POS, or eCommerce systems, allowing for a unified view of customer data and streamlined loyalty program management.

These features collectively help create an engaging and rewarding experience for customers while providing valuable insights for businesses to improve customer retention, satisfaction, and overall loyalty.

Sales support apps typically include several key features to streamline the sales process and enhance the productivity of sales teams. Some of the main features include: 

• Contact management: Centralized storage and management of customer information, including contact details, purchase history, and preferences, enabling sales teams to easily access and update customer data.
• Deal tracking: Monitoring and tracking of deals at various stages of the sales pipeline, providing real-time insights into deal progress and helping sales teams prioritize their efforts.
• Task management: Organization and tracking of tasks, appointments, and deadlines, ensuring that sales professionals stay on top of their responsibilities and never miss critical activities.
• Calendar integration: Seamless integration with popular calendar applications, allowing sales teams to schedule meetings, set reminders, and manage their time efficiently.
• Analytics and reporting: Access to data-driven insights on sales performance, trends, and patterns, helping sales teams identify areas for improvement and make informed decisions.
• Communication tools: Built-in messaging, video conferencing, and collaboration tools that facilitate communication between team members and clients, leading to more efficient and effective interactions.
• Document storage and sharing: Secure storage and sharing of important documents, such as proposals, contracts, and product sheets, enabling easy access and collaboration between team members.
• Product catalog: A digital catalog of products or services, with detailed descriptions, images, and pricing information, making it easy for sales professionals to showcase offerings to potential clients.
• Mobile access: Cross-platform compatibility, allowing sales teams to access the app on various devices, ensuring that they have the necessary tools and information at their fingertips, even when on the go.
• CRM integration: Seamless integration with existing CRM systems, allowing for a unified view of customer data and streamlined data management across different platforms.

• At itCraft, we offer marketplace website development and marketplace app development services tailored to various business models, including B2B, B2C, and C2C. Our diverse tech stack, which includes the latest tools and technologies, ensures that we deliver innovative and reliable marketplace solutions customized to your specific needs.
• We are proud to have a 5-star rating on Clutch, reflecting our commitment to excellence and client satisfaction.
• With 60% of our clients being international, our global experience provides us with diverse perspectives and strategies to manage projects effectively across different time zones.
• Our ISO 27001 and ISO 9001 certifications highlight our commitment to maintaining the highest standards of security and quality.

itCraft is your trusted marketplace app development partner. We would be happy to discuss your project and provide a free consultation on how our marketplace development services can help you explore the world of innovative solutions.

Get in touch via email at hello@itcraftapps.com or give us a call at +1 646 630 9053.