Online Marketplace Development
Will you be the next owner of a thriving online marketplace? Now may just be the perfect time to start! 2020 saw a big jump in e-commerce sales, largely influenced by the Covid-19 pandemic. It’s been said that e-retail sales reached $4.2 trillion USD in 2020, which was an increase of 25% over the previous year. However, the sales trend is forecast to continue to grow as more people move online for shopping as the internet expands its reach to the furthest corners of the earth.
Why Build Your Own Marketplace
First, what exactly is an online market place? It’s different from an online store in that it relies on independent sellers to advertise their products in your marketplace. When you develop your marketplace, you are basically becoming an owner of a market with lots of shop spaces for sellers to rent, rather than being an owner of just one shop. This creates an environment, where shoppers are able to select from a wide variety of products and compare prices of similar items.
Pre-packaged or Customized Online Marketplace
There are two options when it comes to an online marketplace, you can either purchase a pre-packaged online marketplace platform or build your own customized online marketplace. The advantage of buying a pre-packaged online marketplace is that it takes much less time in setting up your marketplace. Also, the cost is much lower as the platform is mass-produced. However, the advantage of building your own online marketplace is that you can develop every part of the platform according to your plan and make changes as needed. If you are serious about being successful at it, you’ll no doubt want to go with the latter.
Cost of Customized Online Marketplace Development
The only reason some may end up choosing the “off the shelf” option is the costs associated with developing a customized online marketplace platform. It can cost tens of thousands of dollars just to start, or even more depending on the scope of the project. That’s where Monkey iDesign comes in to play.
At Monkey iDesign, we offer fully customized online marketplace development at a fraction of the cost elsewhere. Many years of experience in developing tailor-made business software for businesses around the world has enabled me to efficiently develop and deliver high quality products for clients.
In addition, we are experts at developing customized online marketplaces by using Laravel API and Vue JS SPA. These platforms allow us to develop web-based solutions in a visually pleasant and secure way.
Request a Demo
Hard to visualize the end product? No worries, we have developed a number of online marketplace platforms for demonstration purposes so that you can make an informed decision about how to design your marketplace.
As the e-commerce market continues to evolve at a rapid pace, it’s very important for your marketplace to continue to adapt to the changing environment. At Monkey iDesign, we offer ongoing services in order for your business to stay up-to-date at all times.
Contact us at Monkey iDesign today and start letting your idea take shape!