Online shopping has helped shoppers save a lot of time and money. When more and more people prefer online shopping, the rise in web and mobile platforms remain undeniable. This has helped app developers work on projects related to e-commerce platforms.
Talking about the online marketplace platform development, it is nothing big to manage as it has nothing to do with shipping products promoted on the platform. Still, not many online marketplace appssucceed. What could be the reason? Why do even big players in e-commerce fail to retain their users?
Well, this blog would help you get details on how to build an online marketplace mobile app by looking into how Online Marketplace like Wishworks and the strategies that help it retain customers and generate revenues.
What Is The Wish Local App?
It is one of the growing and well-known e-commerce marketplaces grabbing a huge customer base across the globe. When this marketplace is creating so much buzz, certainly you would like to not only build Online Marketplace like Wishbut also would like to know how it functions
- Register to create an account on this portal with your FaceBook or Google
- Navigate through the categories and search for deals. Here you will find a section that is easily customizable to match your preferences
- Add the items to the cart
- Lastly, make the payment
Stats And Numbers Of Wish e-Commerce Marketplace
Wish is a popular online shopping portal located in San Francisco. It has a huge user base of 500 million users with more than 75 million monthly active users and one million merchants.
Also, Wish has raised around $1.3 billion in 8 funding rounds. The company generated revenue of $1 billion in 2017 and was worth $8.5 billion.
What Makes An Online Marketplace Like Wish profitable For Merchants?
Well, Wish offers some exciting discounts which make it the preferred shopping portal for a huge user base. But, it doesn’t offer any brand details or specifications for the products listed on its website. Hence, the discount offered for each product cannot assure the quality of the product.
Wish transports the products from the manufacturers directly from China and Asian countries. That is the reason why the prices are pretty low. When the prices offered are low, some people who purchase often are not worried about the quality of the products.
Things To Keep In Mind During Marketplace App Development Like Wish
Below listed are a few things that you need to keep in mind during Wish-like marketplace development
- Shipping times can alter with postal codes and locations. So, make sure this is clearly stated while creating the app.
- Product details should be checked properly before ordering the products required.
- The real name of the user should not get reflected after the order is viewed or placed as it can be risky as far as the person’s security is concerned.
Well, applications like Geek and Wish help merchants connect with customers across the world. Everything comes at a discounted price from apparel to wearables, gadgets, etc
Features To Be Integrated Into eCommerce App
- Email, SMS, or In-App call – Helps customers reach the store
- Customization – offers premium app experience via the customized app interface
- Search & Sort – Helps users to search and shop
- Mobile Push Notifications- Enables promote in actual time
Additional Features To Be Integrated Into An e-commerce App
- Add to a favorites section
- Blogs
- Product Image Quality
- Product Reviews
- Gift & loyalty cards
- Calculator & currency converter
- Parenting section
- Secure Payment Gateway
- Product comparison section
- Exclusive ‘Discounts’ Feature
- QR codes based product search
Multi-App Outlook Adopted By Wish
Yet another major strategy adopted by Wish is its multi-app outlook. Wish platform owns 6 different commerce apps selling distinct products.
1. Geek – Smarter Shopping
This app offers tech products like watches, phones, Smartwatches, and related accessories
2. Wish – Shopping Made Fun
This app is promoted the most and offers products in multiple categories like beauty, makeup, shoes, fashion, bags, wallets, etc
3. Cute – Beauty Shopping
This app primarily focuses on selling cosmetics, beauty products, and apparel.
4. Mama- Thoughtful Shopping
This app is an ideal platform for mothers or expectant mothers to choose from a range of maternity clothes and products for toddlers or babies.
5. Wish for Merchants
Wish owns an individual mobile application for sellers just like eBay and Amazon
6. Home- Design and Decor
This app offers a range of home accessories listed under different categories like kitchen, bathroom, bedroom, etc
Vital Functionality – How To Develop An Online Marketplace Like Wish
It is one of the significant factors to be considered during Wish-like marketplace development.Apps like Wish connects 3 different parties
- Retailers selling their products on the portal
- Platform’s admin
- Customers
Tips To Learn From Wish
- Build a basic app and then test it to gather first feedback. After you know what features are good to go with to gain profits, extend them
- Creating clone apps to multiply your products would help increase your customer base. Ensure that you have something unique to offer in each of the apps/websites
- Offer equal support to merchants as you do for customers
- Offer transparent and secure payment options.
- Offer round the clock customer support
- Offer loyalty programs to engage the customers
How To Monetize Your E-commerce Marketplace App?
If you decide to develop an e-commerce platform like Wish, you need to identify the monetization strategy. Let us have a look at the monetization models adopted by Apps like Wish
- Subscription plan
- Freemium
- Advertising
- Charging for a purchase
What Would Be The Size of Your Development Team
- QA engineers
- Mobile developers
- Back-end/server-side engineers
- Front-end/interface developers
- UI/UX designer
What Would Be The Marketplace App Development Cost?
The marketplace app development costdepends on whether you choose to build an app right from scratch or want to opt for clone apps. It entirely depends on the products you wish to offer. Ideally, an e-commerce app with basic features would cost you anywhere between $25.000 & $40.000.
Well, it is not just the development cost you look at, you need constant modifications to your app. To meet the changing needs of the market and new developments in technology you need to extend the horizons of your marketplace and continue to invest in new integrations. It is possible with an expert team and X-Byte Enterprise Solutions being a top mobile app development company can help you build your white label marketplace app or online Marketplace like Wish to get started selling your products. Get in touch with us to share your e-commerce marketplace requirements and we would be happy to assist you.