The world has completely changed, and it is becoming impossible to see this generation without smartphones. Everything from purchase to bill payments is happening through smartphones. That turns people to lean on mobile apps for their everyday chores.
LetGo and Offerup are the outperforming apps on the preowned marketplace. Even though it is a recent startup, it had already completed deals above $25 billion as a mediator. It holds its position for years as it is easy to operate and makes sales easy in the nearby locality.
It had currently initiated numerous entrepreneurs to enter into the eCommerce world and contemplate their startups by developing a sell-buy application like LetGo and OfferUp.
Step By Step Process To Develop Buy-Sell Marketplace application
Here, let’s have a deeper discussion regarding checklists to satisfy while developing a letgo clone app
- At first, dig deeper to list down the leading second-hand marketplace apps.
- Then, know the different kinds of business models available for marketplaces and do more research in picking the perfect business model that suits your plan.
- Tech stack is a software development tool that helps in creating a marketplace application. So, pay attention while selecting the tech stack and seek guidance from some experts before reaching your decision.
- Pick the right app development company based on their experience and the challenges the company has faced in their earlier works.
- Make a Marketplace application visually appealing for your customers by creating a fascinating UI/UX.
- Establish your application with the same features and functionalities even though it is a new startup.
- Go behind the right payment gateway for your application to make it mutually beneficial for your business and app users.
- Spend some of your efforts in marketing to brand your business.
- Privacy will take your business to the next level. It allows your customers to sustain for a long and so make necessary actions for preventing fraudulent activities.
- Always ensure whether the buy-sell marketplace solution includes essential features to make your customers interested in you.
- Change is the only thing that will never change forever and so be innovative in your features always.
Necessary Features for the app
Selling
Following the registration process, the buy-sell marketplace application will move you towards the selling menu. With the help of this, it is simple for the sellers to sell their desired product utterly by uploading a high-quality photo from your camera. Besides, the system takes advantage of an AI tool that easily recognizes the product you have uploaded and categorizes it automatically. Later, you can add a description and the price of your product. Assuredly, this application helps the sellers to check out the number of people who viewed their product.
Buying
After entering the name of the product in the search bar, the application should automatically show the desired items of your customers near their location. Enabling the filtering and sorting option can help your customers to search for the products based on the trend, price, location, and more. In addition, by clicking the photo uploaded by the seller, the customer can view the price, product description, and more details about the product. After the customer decided to buy something, they should effortlessly start chatting with the vendor through the built-in chat options that are safe and secured.
Search bar
It helps shoppers to find the necessary products as per their need in a short period. Indeed, it simplifies the process and increases your sales.
Geo-tag
Since LetGo and OfferUp are a c2c platform, it is advisable to enable geographic location options. If you are picking to enhance your project up to various countries, you should consider diverse language support.
Review and rating system
Empower it to help your customer analyze the worth of the product they intend to buy, and as well it assists you in earning trustworthiness.
Comparing products
Always, shoppers wish to buy a product that is cheap and moderate in price. So, it is better to facilitate by comparing price options from various sellers to save their time.
Sort and filter
Allow your users to sort the products as per their choice and as well let them filter their desired products separately from different categories and groups through an advanced filter integration.
Integrating with social media
With the help of this feature, the registration process is pretty easy for the customers, and there are loads of chances for them to enroll with your marketplace quickly. Moreover, it lets the users share their desired products with others on social media, which increases the chances of sales.
Shipment
Let your customers have ease in shipment. Make them feel safe and secured by sanitizing the package during this covid 19 pandemic.
How does it work?
The functioning models of marketplace solutions like LetGo and OfferUp are relatively straightforward in recognizing. The users can use it immediately after downloading the app and register by entering the necessary details. After signing up, the customer finds the search bar on the home page to initiate research on their required items.
After reaching the buying product, the shopper can click and look over the product details. Later, the buyer can interact and bargain well with the seller through in-built chat options. This vice versa happens for the seller, and they can take advantage of social media sites for selling their product. It is the whole working process of buy-sell marketplace platforms.
Revenue model
Being an owner, you need to opt for the perfect revenue model for your buy-sell marketplace that fits your business needs. Positively, you can make income through the following models,
- It is a fixed commission rate, and the seller needs to pay for every transaction that happens.
- Allow your users to enjoy your primary functionalities at no cost, and if they need advanced features, they can pay for them.
- Sellers can list their product on your marketplace and pay for it based on the listings.
- The owner can allow some space for advertisers and earn money by running the ads.
Bottom Thoughts
Around years, LetGo and OfferUp are exceptional as it grabs more consumers towards it and allows them to buy and sell goods with no cost. As time goes by, there are several extemporizations among the users. Now, you would have understood its competitiveness and monetization. So, take a clever step to launch your buy-sell marketplace app. Because being in trend, will let you leverage your potential and earn higher ROI.
