Codica logo
Get a free quote

How to Build a Marketplace Website in 15 Steps: Ultimate Guide

Starting your online marketplace is an exciting experience, but it might feel confusing. Surely, a marketplace website launch can be chaotic, especially when you do not know where to start.

To make things easier, we created a list of steps to take when you consider going into the ecommerce business. From this article, you will know the main stages of building an online marketplace. These are choosing the required features, the development approach, and the software consultancy that will help create your platform. You will also find out how to improve and promote your online marketplace website.

Here's a brief guide on crafting a marketplace website:

  • Identify the core functionalities your marketplace needs, catering to both buyers and sellers.
  • Decide between building from scratch, using existing platforms, or a hybrid approach based on your unique requirements.
  • Prioritize an intuitive and visually appealing design.
  • Integrate reliable and secure payment gateways.
  • Build a reliable review and rating system.
  • Familiarize yourself with and adhere to legal regulations related to ecommerce and online marketplaces in your target regions.
  • Develop a comprehensive marketing plan to promote your marketplace and attract a steady stream of buyers and sellers.
  • Provide responsive customer support.
  • Implement analytics tools to track user behavior, transactions, and overall marketplace performance, enabling data-driven decisions.
  • Regularly update and optimize your marketplace based on user feedback, technological advancements, and evolving market trends.

Armed with this thorough guide, you will learn how to create a marketplace website that both your buyers and sellers will love.

Definition and main types of a marketplace

A marketplace is a platform where stores of various sellers are presented. An online marketplace connects sellers and buyers of goods and services and helps them process transactions.

Currently, there is a shift in online sales from individual online stores to marketplaces. It happens because trading on marketplace websites has many advantages over online stores.

There are many types of online marketplaces. In general, these platforms can differ by types of products, interactions, and participants.

We recommend you look at the table below about overall marketplaces’ classification with examples.

Сlassification of online marketplaces
By products
  • Goods (Etsy, Amazon)
  • Services (Uber, Airbnb)
By interaction
  • Online commerce (eBay)
  • Online-to-offline (Amazon)
By participants
  • Customer-to-customer (eBay, Airbnb)
  • Business-to-customer (Amazon)
  • Business-to-business (Alibaba)

Speaking about the types of marketplace platforms based on the participants, these websites are divided into the following varieties:

  • B2B (business-to-business). They offer services and products for business. Wholesale dealers also use such online marketplaces.
  • B2C (business-to-customer). The classic of global trade. In this case, online sales are calculated for individual buyers. For example, the Amazon marketplace platform works on this system.
  • C2C (customer-to-customer). Business is built between private individuals, both for money and through barter. A similar principle is implemented on eBay and Airbnb online marketplaces.

The thorough table below will help you distinguish between the outlined marketplace types. Let’s look closely at each type (B2B, C2C, B2C) to learn more about their sales value, length of the sales process, goal tasks, and more.

Comparison of online marketplace types
FactorsC2C (eBay, Airbnb)B2C (Amazon)B2B (Alibaba)
Value of saleTens of dollarsTens and hundreds of dollarsThousands and millions of dollars
PricingNegotiable market-based priceStandard pricingCustomer pricing
Length of the sales processHours to daysDays to weeksDays to months
Number of decision makers involvedOne or twoOne or twoSeveral people to a dozen or more
Motivation for purchaseIndividual needs or emotionsIndividual needs or emotionsBusiness needs
Buying process for a provider to use a marketplaceSingle stepMultiple stepsMore multiple steps
Marketplace goals
Present the good/service
Present own solution and UVP
Create a community of customers
Show a great variety of goods/services
Present the brands
Create conditions for competition
Suggest a solution for business
Sell to big players 
Be the first in own niche

Related reading: Key Trends in Digital Marketplace Industry in 2024

Key benefits of building a marketplace website

Creating a marketplace is a great way to create your offline business on the web and make it profitable. Let’s consider the key benefits of building a marketplace platform for all sides: a platform owner, sellers, and buyers.

Benefits for founders

  • Revenue options. Marketplace owners can choose revenue models like listing fees, subscriptions, or commissions, offering flexibility and the potential for combining multiple schemes.
  • Scalable business. As marketplaces expand, adding more sellers meets growing demand, maintaining a balance between supply and demand for sustained growth.
  • User and investor interest. A wide array of offerings attracts user interest, while marketplace investments, exemplified by Uber's success, draw significant attention from investors.

Benefits for buyers

  • Extensive product range. Online marketplaces provide buyers access to a broad spectrum of products in one place.
  • Trusted platforms. Ratings and reviews enhance buyer trust in marketplaces compared to standalone firms.
  • Promotions and convenience. Marketplaces often offer discounts, attracting and retaining users, while the one-click booking process enhances convenience.

Related reading: Top Online Marketplaces in Australia 2024: All You Need to Know About Leaders

Benefits for sellers

  • Elimination of self-promotion. Sellers avoid needing independent promotion, saving on development, support, and SEO costs.
  • Enhanced search ranking. Marketplace listings consistently rank high in search results, providing better visibility than standalone online stores.
  • Increased promotion opportunities. Sellers benefit from increased brand recognition on marketplace platforms, resulting in a higher flow of customers.
  • Access to analytics. Sellers gain insights into product views, purchases, and other statistics through their marketplace accounts.

You may also like: How to Create an Online Service Marketplace: Ultimate Guide

Essential features to create a marketplace website

Building a successful marketplace website requires a thoughtful combination of functionality, user experience, and strategic planning. Let's check specific fundamental features that are pivotal to your platform's success.

Top features to create a marketplace website
  • User-friendly interface. A positive first impression is vital. Achieve it with intuitive navigation, clear categorization, and an aesthetically pleasing design for seamless interactions. Users must easily find what they need.
  • Mobile responsiveness. Optimize your marketplace for mobile devices. A responsive design ensures seamless access and navigation, broadening your user base.
  • Community and social integration. Foster a sense of community with social features. Users should follow sellers, leave comments, and share products on social media, enhancing engagement.
  • Customer support and dispute resolution. Prioritize prompt customer support and a transparent dispute resolution system for fairness, ensuring a positive user experience.
  • Scalability and performance. Design your site for scalability, handling increased traffic without compromising performance. Regularly update and optimize for a smooth user experience.
  • Legal compliance and security. Ensure compliance with laws, implementing robust security measures for user data trust and long-term success.
  • Analytics and insights. Integrate analytics tools for valuable insights into user behavior, products, and marketplace performance. Make data-driven decisions to refine strategies and optimize functionality.

So, you can create a dynamic online space that attracts users, facilitates transactions, and establishes itself as a trusted platform in the competitive world of ecommerce.

Want to get an exciting marketplace website?
We will gladly develop it for you.
Contact us
Want to get an exciting marketplace website?

15 essential steps to create a thriving online marketplace

Creating a booming online marketplace involves some crucial steps. Whether you're creating the e-commerce website from scratch or improving an existing platform, it's vital to focus on things like making it easy for users, following the rules, and keeping everything secure.

1. Research and choose your niche

Before building a marketplace, define what products or services will be available on your platform. In simple words, conduct market research.

You have two options to choose from:

  • Create a horizontal marketplace.
  • Create a vertical marketplace.

The first variant is a horizontal marketplace website launch. Such platforms cover a variety of items. For instance, Amazon spreads over a great number of categories and products, from books to electronic devices.

You may be interested: AliExpress Clone Website: How to Build Similar Ecommerce Platform

The clear benefit of this approach is greater coverage. At the same time, pinballing between several market segments, you lose a chance to become a leader in a specific domain.

Alternatively, you can build a vertical ecommerce platform. It supposes the focus on a specific niche or a particular user category.

Choice between Vertical and Horizontal online marketplaces

Why is the vertical marketplace launch a more sensible choice?

First, the narrow focus allows you to highlight the benefits and specific features of each item you provide. You can attract new potential users with detailed product or service descriptions. It is a good way of making your offerings more useful and valuable for the target audience.

Second, niche marketplaces give users a more personalized customer experience. Buyers can find a specific solution to a particular issue on these websites.

Further reading: How to Create a Multi-Vendor Marketplace Website

2. Learn your target audience

Define your target user category for your marketplace. Understanding your audience is crucial for effective marketing. Tailor your value proposition based on customer needs to address specific problems. When creating an online marketplace, focus on meeting consumer expectations for a positive user experience and emotional satisfaction with your product.

Use Steve Blank's customer development approach to survey user pain points, motivations, and habits at product inception, post-commercial use, and consistently over time. Apply Rob Fitzpatrick's Mom Test principles to create questions revealing genuine thoughts, ensuring accurate and valuable insights into your product.

Recommended reading: C2C Marketplace Development: Why Invest in Your Own Platform

For instance, our Codica team recently developed an Australian online marketplace for boats, Trade A Boat. This is a platform to sell new and used boats and marine equipment. People in Australia are great lovers of the sea. Focused on selling boats and marine equipment, Trade A Boat has become one of the favorites for shoppers and vendors all over the continent.

Our team helped add valuable solutions to the platform, sustaining its successful course. This case study demonstrates that analyzing the local market is of great need.

Finally, the analysis of your target audience and market research helps solve the chicken and egg problem. Also, it helps get the buyers and sellers to use your platform. This analysis allows for choosing the right communication channels, content, and marketing strategies. As a result, you will be able to promote your products and services more effectively.

When defining your target audience, take into account the following factors:

  • Age;
  • Gender;
  • Location;
  • Education;
  • Occupation;
  • Interests;
  • Potential pain points.

You may also like: Online B2B Marketplace Development: Step-by-Step Guide

3. Define the required functionality

Let’s start with the basic features any marketplace should have. These functions will make your ecommerce marketplace software solution for both parties.

Product page. Give a comprehensive description of selling items to potential buyers. High-quality photos and videos, detailed descriptions - everything matters.

Shopping cart. As you are developing an ecommerce platform, this option is a priority.

Shopping cart as a key marketplace feature on the Etsy website

Security options. Make your marketplace website as secure as possible. SSL (Secure Sockets Layer) certificates, multi-factor authentication, and firewalls will help you protect your product.

Payment methods. Enable users to choose amongst a variety of payment options. The most popular payment gateways are PayPal, Stripe, Braintree, and WePay.

Example of payment options by the Airbnb marketplace

Search feature. The chances are that your multi-vendor platform will offer a great number of products. So, it would be reasonable to add a search box when creating a marketplace website. By the way, this is a must-have for the marketplace, and now, the platforms use semantic search with AI for personalized needs.

Place the search bar where users expect to find it. According to Able, the most suitable place for the search box is in the top right or top left of the pages on your site.

Admin panel. Simply put, an admin dashboard helps manage everything related to your ecommerce website. For example, this functionality allows you to track orders, payments, and shipping. Moreover, you can view abandoned checkouts and create draft orders.

Example of admin panel by the boat marketplace

Source: Tradeaboat case study

Wishlists. With this feature, shoppers can create collections of items they would like to buy later. When users are ready to make a purchase, they quickly find the product needed in the wishlists.

Sign in/sign up form. First, registered users can choose the platform role - a vendor or a buyer. Second, sign-up improves customer experience. It enables customers to track order processes or view previously purchased items. Finally, registration allows customers to get personalized on-site recommendations.

Example of authorization page by the eBay marketplace

Source: eBay.com

Shipping. With this feature, shoppers can choose the preferred delivery option offered by vendors.

This is functionality you should consider in the first place when building a marketplace. With these features, you will get a convenient and easy-to-use web solution.

4. Select the development platform

When it comes to creating an online marketplace, you have two options. You can buy a ready-made solution or build a marketplace website from scratch. The final choice depends on your budget, time, and plans for further scaling the platform.

Consider buying ready-made software if you aim to save money initially, if off-the-shelf solutions meet your business requirements, or if you seek a quick marketplace development solution that aligns with your startup needs.

By the way, custom software development services take into account your specific business needs.

Education, healthcare, and finance benefit most from this approach due to industry-specific regulations and unique business requirements, including audit trials, automated workflow, and role-based access.

If you wonder how to build a marketplace that will stand out from the competitors, you should consider the option of creating a custom platform.

Let’s take a look at the main advantages of the approach:

  • Meeting specific requirements. Bespoke software helps you cover the demands unique to your business. You can be sure that all your fine points and hidden risks will be counted.
  • Startup growth. Tailored solutions are famous for their flexibility. It means that you can always add new functionality when needed.
  • No needless features. With customized software, you will not have to pay for the extra functionality you will never use. This way, you can reduce the development expenses greatly.

If you choose to build your own custom platform, most likely your development partner will offer you to begin with a product discovery stage. Here’s what you should know about it:

Related reading: Spree Commerce: How to Quickly Build an Ecommerce Website

5. Choose the best tech stack

A technology stack is a toolset used when working on projects. It includes programming languages, database management systems, frameworks, etc. In fact, the chosen tech stack determines the performance and reliability of the online marketplaces.

At Codica, we conduct software development that suits the best client’ project. Our software development approach is to fully understand the customer’s business case and its customer journey. After that, we pick a technology stack to create a marketplace website of the highest quality.

There are some general criteria that all marketplaces shall conform to.

  • Scalability. Marketplace websites should be scalable. It is crucial because they need to accommodate increased user loads as your platform becomes more popular. Also, marketplaces should be of high performance.
  • Flexibility. Moreover, your technology stack should be flexible to support user flows and provide a great user experience. Adding new features should be easy. Clearly, the impossibility of adding the functions that your users need is a big problem for any online marketplace website.
  • Security. Certainly, security is one of the most crucial factors you should consider when you build an online marketplace. Why? Because the marketplace will deal with confidential information about users.

You may also like: Question and Answer Website Development: Functionality and Best Practices

At Codica, we have selected a list of tools assisting us to develop scalable, secure, and high-quality online marketplaces. Now, we will share with you which tech stack we use. Also, you will learn what integrations we recommend for your future successful marketplace.

Tech stack we use at Codica for marketplace development

Front-end tech stack

The frontend of the tech stack is the visual part of your web platform. Visitors see and interact with this part of your solution. So, developing this part for an online marketplace website demands a deep understanding of users’ needs. For the frontend side, we use:

  • JavaScript
  • TypeScript
  • React
  • Redux
  • Next.js
  • Vue.js
  • HTML5
  • CSS3
  • Gatsby

Backend tech stack

The backend of the tech stack is the software part responsible for functioning the internal part of a web solution. Of course, software of high quality should have a solid ‘backbone’ to function smoothly. When creating a marketplace website, for the backend, our experts use:

DevOps tech stack components

Companies use the DevOps tech stack for continuous integration of operations. DevOps tools automate many recurring tasks. Thus, they improve overall performance. Also, these tools decrease the likelihood of manual faults during the development lifecycle. Our choice of DevOps tech stack when creating a marketplace includes the following tools:

  • Linux
  • Ansible
  • Docker
  • Gitlab CI
  • Terraform

Databases tech stack

Databases are a significant part of the backend ecosystem. In brief, the database is an accumulation of data, specially organized for fast search and removal from a computer. They deal with maintaining and processing a lot of data points. Here are the databases we use for building a marketplace:

  • PostgreSQL
  • MySQL
  • MongoDB
  • Redis
  • Firebase
  • ElasticSearch

Infrastructure software stack

At Codica, we prefer the following application deployment, provisioning, and configuration management tools:

  • AWS
  • Digital Ocean
  • Heroku

Integrations

In general, integrations enhance the functionality of the existing system. Thanks to their features, it becomes possible for the system to automate and complete a broad range of tasks. In brief, with the following integrations, we will help you create a marketplace website of high quality:

  • Stripe
  • Google Analytics
  • Paypal
  • Mollie
  • Hotjar
  • Sentry
  • MailChimp
  • HubSpot
  • Uptime Robot
  • Skylight

The process of picking a tech stack can be quite challenging. It requires careful discussion with stakeholders and thoughtful planning. Also, your development team should have vast practical experience.

Further reading: What Makes Ruby on Rails Perfect for Marketplace Development?

Choosing the right tech stack contributes to your platform's success

At Codica, our experts use a certain tech stack to develop web solutions of the highest quality. For example, we are glad to share with you our work on the first automotive marketplace in Africa. The client wanted us to develop a complex marketplace website.

The project was intended to cover many South American and African regions. Also, it was supposed to connect purchasers with auto dealers and private sellers.

We chose our proven tech stack, with Ruby on Rails as a core technology to build a marketplace, and were right. So, our client got a quality web solution with a fast load, simple workflow, and mobile optimization.

Have any questions about your idea implementation?
We will be glad to help you.
Talk to an expert
Have any questions about your idea implementation?

6. Select a business model

Your marketplace website should bring you a stable profit. For this reason, you have to choose a suitable revenue model. Remember that it should offer reasonable conditions for your potential vendors. Also, it needs to help grow your marketplace.

Let’s take a closer look at the best monetization strategies used by the ecommerce giants, such as Amazon, eBay, and others:

  • A commission cuts a part of each transaction made through your platform.
  • A listing fee is a sum charged from a vendor when they publish their items on the marketplace. The higher the product or service cost, the higher the listing fee.
  • A subscription fee is a marketplace business model when a seller pays a charge to get access to your ecommerce platform. It contains monthly or yearly fees for a definite set of benefits.
  • An advertising fee is about promoting items on your marketplace by third-party advertisers.
  • Lead fees. This revenue model means that users pay for access to detailed information about the desired item.
  • Premium membership gives users access to extra features and exclusive content.

Below are examples of monetization strategies and well-known companies that use them.

Top monetization strategies for the successful marketplace launch

To wrap up the topic, choosing the right revenue models is crucial for making a profit on your platform. Starting with one monetization strategy, you can progress to complex models. This way, you will also help vendors make the most of your marketplace.

7. Write a business plan for the marketplace launch

Creating a business plan is crucial before starting online marketplace development. It outlines goals, tracks progress as the platform grows, and reduces risks by anticipating issues. Also, it serves as a must-have document when seeking third-party investors, demonstrating the viability of your marketplace idea for long-term success.

These are the main points your multi-vendor marketplace development business plan should include:

  • Review of your enterprise as a whole;
  • Your marketplace description, including your goals and objectives;
  • Description of products and services your vendors provide;
  • Information about your target audience, the niche you chose, and competitors;
  • The online marketplace strategy and ways of its implementation;
  • Your team’s organizational structure;
  • Financial plan with a revenue model and projections.

8. Search for compatible investors

If you decide to build a marketplace website, you need money to translate your project into reality.

What if you don’t have enough funds to finance your online marketplace idea? What should you do? In this case, you have to turn to other funding sources and seek outside investors.

In this regard, it would be a good idea to find investors who may be interested in your kind of business. For example, visit events, conferences, and meetings they hold or attend.

Can you find an investor online? Sure, you can visit specialized professional platforms, like Wellfound (former AngelList) or Crunchbase. The latter allows customizing your filters to find the right depositor.

Example of seach for investors on Crunchbase

It is worth noting that finding an investor is not only about injecting funds. This person can become a source of advice and strategy.

Find the right funders interested in your marketplace success, and they will speed up the marketplace launch. With their help, the projects of business owners will grow faster.

You may also like: Market Networks: the Future of Service Marketplaces

9. Select the right development team

Partnership with the proper development firm is crucial for a successful marketplace launch. Therefore, you should choose the software developers responsibly.

For instance, PayScale shows that a web developer's average hourly rate in the USA can be about $100 per hour.

So, using the average rate of Eastern European development firms, the approximate cost to develop a website like eBay will be a minimum of $64,600. If you want a rental marketplace like Airbnb, it will cost you about $65,600.

The tips below will help you find a dedicated agency to build an online marketplace that satisfies all your needs.

  1. Visit research and rating platforms like Clutch, GoodFirms, and Appfutura. They will provide you with detailed information about the team needed. You can read reviews of their existing clients on such websites.

  2. Check their clients' references.

  1. Ensure the chosen team knows how to build a marketplace that brings value to both buyers and sellers.

  2. Pay attention to the organization of the development process and the technology applied. At Codica, we use Ruby on Rails to build reliable and fast-loading marketplaces.

  3. Give preference to companies that adopted the agile methodology. This approach helps make alterations at any development stage. Besides, you can respond faster and more effectively to market demands with agile methods. This way, you eliminate the risk of expensive market misses.

  4. Check the software company’s portfolio to make sure they will create user-friendly online marketplaces.

By the way, you can look at the detailed articles on how we deliver marketplaces at Codica:

Example of a portfolio by the development company

Starting a new project is rather a challenging process. To make things easier, choose an established team that knows how to build an online marketplace website of the best quality. Thus, you will receive a fast, scalable, and user-friendly web solution.

10. Develop an MVP first

Building a minimum viable product (MVP) is the easiest way to save money, time, and effort. To build marketplace, we recommend starting with MVP development services.

Let’s look at the main reasons to build a minimum viable product before rolling out a full-featured platform.

  1. An MVP allows you to release your marketplace idea in the shortest period.
  2. With this approach, you can significantly save costs. It works the following way: you verify your idea first, then create a product. Thus, you can make sure that you are investing in a project attractive to your potential customers.
  3. An MVP helps you find early adopters. Their feedback will show how to build marketplace that is attractive to potential customers. Besides, the pioneer users will tell what features should be added, modified, or removed.
  4. In building an MVP, you focus on the basic features required for a marketplace launch. You can always extend the functionality as your platform scales. Don't worry that your product is not perfect. In the first iPhone project, there was no Wi-Fi at all.

Below you can see the MVP prioritization matrix offered by Clearbridge Mobile. This chart can help you define the features that should be included in the MVP.

How to launch a marketplace with the help of a minimum viable product

To sum up, the idea of building an MVP comes down to testing your business idea first. You find early adopters and meet their demands with one or two key features. After receiving valuable feedback, you can improve your product by adding new features. Gradually, you will learn how to build marketplace that will attract new users.

Codica is a reliable MVP software development company for startups with years of practice. Our team has worked on a broad array of projects. We pride ourselves on our expertise in helping startups launch their products and grow their businesses.

Related reading: How to Build a Marketplace Website MVP and Not Fail

For instance, one of our MVP projects was developed for an online booking platform. Our client, David Watkins, faced the problem of planning his own kid’s activities after school. Like many other parents, he was busy with work, and finding time to look for activities on the web was quite tricky.

We started the development process with MVP building. Our specialists use proven technologies and practices to create a product with minimum features that meets all needs.

Thus, with the help of the minimum viable product, our client could check the business idea with the least effort and investment.

At Codica, we know that the success of your startup idea depends on how well you define what features to include in your MVP. Our development team will assist you to make a considered decision. For this, we provide an in-depth analysis of your project environment.

Related reading: How to Create a Minimum Viable Product (MVP)

11. Acquire users

We have discussed a strategy to build an online marketplace. The next question is how you can promote your brand-new ecommerce platform.

An efficient marketing tactic helps attract vendors and buyers to your online marketplace. Of course, solving the chicken and egg problem can be a bit effortful. Let potential customers know about your startup from the planning stage.

Use the following tips to gain sellers' and buyers' attention:

  • Promote your platform via ads on social media, including Instagram, Facebook, and LinkedIn.
  • Become a part of workshops or educational meetups. Attend these events to connect with your potential vendors and buyers.
  • Visit trade fairs to search for sellers. Find a subtle way to get their contact information. Thus, you will be able to reach them afterward.
  • Organize live events and collaborate with celebrities.

Further reading: How to Create a Micro-Job Marketplace Like Fiverr

12. Platform promotion

To promote a marketplace platform, you need a team of experienced SEOs and content experts.

The task of SEOs is to find where to grow traffic. The task of content managers is to fill potentially traffic pages with relevant and high-quality content.

To make the work as efficient as possible, adhere to the following algorithm:

  • Search and development of potential traffic pages.
  • Technical optimization of the marketplace.
  • Identification of competitors and refinement of the semantic core.
  • Analysis and compilation of metadata.
  • Compilation of technical requirements to content.
  • Drawing up a link promotion strategy.
  • Analysis of promotion results and optimization of the workflow.

You may also like: 6 Top Multivendor Marketplace Features for Sellers

13. Build trust between sellers and buyers

When building an online marketplace, don’t underestimate the importance of UX design. Pretty often, it helps prove to your customers that it is completely safe to buy and sell products and services on your platform.

Do you want to know how to create a marketplace website that your customers will trust? Take into account the following points:

  • High-quality photos and videos allow buyers to view items from different sides and angles. So, why not allow sellers to provide as many details as possible?
  • A thorough product description gives customers comprehensive information about the desired item.
  • Reviews and ratings prove that customers can rely on a specific vendor for the quality of the product they are going to buy.
  • A refund policy is a must-have for an ecommerce platform. With this option, customers feel safer when purchasing.
Refund policy on the Amazon multi-vendor marketplace

Source: Amazon.com

Focus on building a well-arranged and easy-to-navigate marketplace. Thus, you will offer a seamless user experience to bring new customers to your platform.

Further reading: 5 Main Online Marketplace Features to Make Buyers Happy

14. Find tools to monitor different aspects of your marketplace

Starting a new business is always tough. However, the working process will be well-organized with the right tools, and your enterprise will run smoothly.

So, what are the most widely-used applications and tools:

  1. Google Analytics is used to analyze your marketplace traffic. This tool helps better understand your audience and more.
  2. Salesforce is a powerful CRM (customer relationship management) tool. It allows you to connect to your users and organizes your clients' pipeline from the first contact to making a deal.
  3. Google Drive is the storage for your materials with vast functionality. The system offers collaboration with other people and convenient editing of documents.
  4. Mention is a great marketplace app for showing mentions of your project on different resources.
  5. Buffer is a great assistant for scheduling posts on social media. This marketplace app development solution makes your promotion campaign as smooth as possible. All you need is to buffer a blog post, and the service will publish them automatically.

You may also like: Best Examples of PWA for Ecommerce Marketplaces

15. Protect your intellectual property

Now it’s time to protect your business legally. Define if you need to set copyrights, patents, trademarks, or special licenses. Why is it important?

Other people can make a profit from your idea if you do not protect your concept. So you should have the documentation that proves you own the assets mentioned.

Here are the ways which will help you make your product idea safe and sound:

A patent is a set of exclusive rights. It is granted to an inventor for a restricted period in exchange for detailed public disclosure of an invention.

A trademark is used to represent a company or product. It can be a symbol, word, or several legally registered words. For instance, you need it to protect your project name.

A copyright is a collection of exclusive rights granted to an inventor and spread over a literary work, song, movie, or software. For example, you can protect your website content, including articles, descriptions, etc.

A domain name is the part of a network address that identifies it as belonging to a particular domain.

Applying these methods, you can ensure that your marketplace is highly protected. Additionally, your web project will be recognized by the courts and competitors.

Read also: Codica Named a Top Ecommerce Web Development Company

Costs to build a marketplace website

The cost of creating a marketplace totally depends on many aspects. It may significantly vary depending upon the functionality you select. The online marketplace development process requires the coordinated efforts of many specialists. This process includes backend and frontend development. Also, it comprises project management, UX and UI design creation, and quality assurance.

Notably, the location of your development team will also influence their hourly rates. So, you should bring this aspect into focus, when you decide to build a marketplace website.

So, how much does it cost to build a web solution from scratch?

Costs to create a marketplace website
FeaturesTime, hoursCost ($50/h)
Design
UX Development42$2,100
UI Development56$2,800
Architecture
Project setup16$800
DB structure32$1,600
Integrations
Payment (Stripe or PayPal)32$1,600
Shipment (Shippo)32$1,600
Main functionality
Authorization and security72$3,600
User profiles42$2,100
Homepage84$4,200
Search and filters96$4,800
Product page42$2,100
Reviews & Ratings48$2,400
Shopping cart64$3,200
Payments42$2,100
Notifications32$1,600
Buyer panel120$6,000
Vendor panel164$8,200
Admin panel192$9,600
Non development activity
Project management48$2,400
Quality assurance64$3,200
Code review48$2,400
Total1368$68,400

Further reading: How Much Does It Cost to Build an Online Marketplace in 2024

Our extensive expertise in building a marketplace

The Codica team consistently delivers innovative solutions that redefine the ecommerce landscape. With a proven track record of delivering successful and scalable marketplace websites, Codica brings a wealth of experience and expertise.

Tailored solutions for diverse industries

By understanding each client's unique needs, Codica customizes solutions that meet and exceed expectations. Moreover, our team has demonstrated the ability to adapt and thrive in various domains.

Strategic planning

Before diving into development, Codica team collaborates closely with clients to understand their business goals, target audience, and unique selling propositions. This thorough planning ensures that the resulting marketplace aligns with the client's vision and resonates effectively with end-users.

Innovative features and advanced functionality

Codica is at the forefront of integrating cutting-edge features and advanced functionality into marketplace websites. We employ the latest technologies to enhance the overall user experience.

Responsive and cross-platform compatibility

Codica prioritizes responsive solution and cross-platform compatibility when providing UI/UX design services. Whether users are browsing on a desktop, tablet, or smartphone, Codica's marketplace websites offer a consistent and enjoyable experience.

Robust support and maintenance

Codica's commitment to client satisfaction extends beyond the launch of a marketplace website. The company provides ongoing support and maintenance services, addressing any issues promptly and proactively.

In a testament to Codica's prowess in web development, the company launched on a transformative journey with Dan.com, a leading online platform for selling domain names. Codica's mission was clear: to breathe new life into the platform by rebuilding old functionalities and introducing innovative features.

In this online marketplace platform, our specialists successfully implemented several business solutions, including:

  • Enhanced domain options editing: Implemented the capability to edit domain options, providing users greater flexibility and control over their domain management.
  • Optimized platform performance: Executed comprehensive improvements to enhance the overall optimization of the platform, ensuring a smoother and more efficient user experience.
  • Revamped mobile designs: Launched a complete overhaul, prioritizing enhancing user experience on mobile devices. The updated designs contribute to a more user-friendly and visually appealing mobile interface.

As a result, this platform is modern and superfast. For instance, you can download 1000 domain names in less than 2 seconds.

Summary

We hope that this thorough guide will answer the main question: how to build marketplace convenient for buyers and sellers.

Define the required functionality. Choose a reliable custom software development company and proper methodology. These are the core points that help marketplaces succeed.

As a Chinese proverb says, “A journey of a thousand miles begins with a single step.” Let this article inspire you to create an online marketplace like Airbnb or Etsy.

If you are looking for a reliable ecommerce marketplace development company, we are here to bring your ideas into reality. Contact us to discuss your project idea and get a free quote.

Let’s turn your idea into a successful product!
Angle arrow icon
Angle arrow icon
Stay up to date with software development and design materials from Codica.

Frequently Asked Questions

Rate this article!
Rate this article | CodicaRate this article | CodicaRate this article | CodicaRate this article | CodicaRate this article | CodicaRate this article | CodicaRate this article | CodicaRate this article | CodicaRate this article | CodicaRate this article | Codica
(543 ratings, average: 0 out of 5)
Comments

There are no comments yet

Leave a comment:

Related posts

How Much Does It Cost to Build a Marketplace Website 2024 | Codica
Entrepreneurship
How Much Does It Cost to Build a Marketplace Website in 2024
How to Create a B2B Marketplace: Ultimate Guide | Codica
Development
B2B Marketplace: Definition, Features, and Development Guide
Artificial Intelligence in Ecommerce: Main Insights and Advantages | Codica
Technology
AI in Ecommerce: Statistics, Use Cases, and Benefits

Want to receive more content like this?

Nobody likes popups, so we waited until now to recommend our newsletter, a curated periodical featuring thoughts, opinions, and tools for building a better digital world.

Don’t wait and suscribe now!

Latest posts

How to Build a Minimum Viable Product: Features, Steps & Costs | Codica
Development
How to Build a Minimum Viable Product in 2024: The Ultimate Guide for Startup Founders
The Best 30+ Tools for MVP Development | Codica
Development
30+ Tools for Creating MVP for Startups from Scratch in 2024
The Most Common Minimum Viable Product Mistakes | Codica
Development
12 Most Dangerous MVP Development Mistakes and How to Avoid Them