How to Create an Online Marketplace App Like eBay?

Online shopping is growing tremendously, all thanks to marketplaces like eBay.

As more people turn to their screens for everything from groceries to gadgets, the demand for comprehensive and user-friendly marketplace platforms has never been higher.

Online shopping continues to dominate; you’ve probably seen how this trend has spiked the need for more such apps. Businesses are ready to tap into this growing market, driving up demand for platforms that replicate eBay’s successful model.

The popularity is as much as it has captured the attention of 66 million users each month, a staggering figure that’s a standard for many. No wonder why businesses look at eBay as an inspiration to bring an innovative solution.

But to do so, first, you need to understand eBay and several factors that go into developing a marketplace app like eBay.

What is the eBay App?

Let’s start with the basics.

eBay is a global online marketplace that allows individuals and businesses to buy and sell a huge variety of goods and services.

Founded in 1995, eBay has come a long way as an auction and shopping website where users can list items for sale, participate in auctions, or buy products directly.

It features an extensive range of categories, including electronics, fashion, collectibles, and more.

eBay provides a platform for both new and used items, facilitating transactions between buyers and sellers through its secure payment system.

Over the years, the app has become known for its diverse inventory and its role in connecting people around the world through its online presence.

Overview of eBay Online Marketplace App

Online marketplaces are experiencing explosive growth, with projected Gross Merchandise Value (GMV) soaring to a staggering $3.832 trillion by the end of 2024. This represents a remarkable doubling of market size in just six years.

To grasp the full scope of the online marketplace phenomenon, let’s delve into eBay’s data. Its performance serves as a better picture of the broader market.

• With over 135 million users worldwide, eBay boasts one of the largest online marketplaces globally.
• The platform’s journey began with the sale of a broken laser pointer for a mere $14.83.
• This app has catered to high-end buyers, with a superyacht fetching a record-breaking $168 million.
• While not as dominant as Amazon, eBay commands a substantial 3.5% share of the US eCommerce market.
• Over 62 million users access eBay monthly via mobile, emphasizing the platform’s mobile-first approach.
• eBay hosts a staggering 1.7 billion active listings, offering a vast array of products.
• As the second most visited shopping site with over 850 million monthly visits in December 2023, eBay guarantees high product visibility.
• This app generated $10.62 billion in revenue in 2023, with $2.48 billion in the first quarter alone.
• Now with 100 million unique monthly visitors, eBay provides unparalleled exposure for sellers.
• Over 60% of eBay’s sales involve mobile devices, highlighting the importance of mobile optimization. The app has been downloaded over 599 million times and ranks fourth in the US.
• eBay ranks 14th in the US and 44th globally for most visited sites, ensuring a wide audience.
• Fees account for the majority of eBay’s revenue, totaling $9.772 billion in 2021.
• eBay invests heavily in sales and marketing, with annual operational costs reaching nearly $7.96 billion.

The surge in popularity of eBay-like apps underscores a massive market opportunity. Now, let’s explore the reasons to create an app like eBay.

Why Develop an eBay Like App?

Despite its skyrocketing success, if you are curious to know whether creating an eBay-like app could be a smart move or not, we’re here to help you understand the benefits.

Without any further ado, let’s get into it:

♦ Increased Demand

The demand for platforms that facilitate buying and selling is growing. Consumers have now started preferring convenience, variety, and competitive pricing, which is why they look at these marketplaces.

This is driving the growing demand for more platforms like eBay that provide individuals and businesses to connect and transact efficiently.

As consumer behavior shifts towards digital commerce, the need to create a marketplace app like eBay continues to grow, making it a compelling opportunity for entrepreneurs and businesses alike.

♦ Diverse Product Range

Unlike traditional brick-and-mortar stores, offerings on online marketplaces like eBay aren’t limited.

From electronics and fashion to collectibles and services, the virtual world offers virtually limitless possibilities. This vast selection caters to diverse consumer preferences, increasing the platform’s appeal and attracting a wider audience.

Customers are more likely to find what they need or desire on a platform offering a multitude of options, driving the demand to develop an app like eBay.

♦ Recurring Revenue Option

Online marketplaces can generate multiple and consistent revenue streams through different monetization strategies.

Listing fees, transaction fees, advertising placements, and premium subscriptions offer different income sources, providing more ways to earn money. This is why investors consider the option to build an app like eBay.

By offering them different revenue channels enhances the platform’s financial stability and growth potential.

♦ Low Barriers to Entry

The digital era has reduced the barrier to entry and helped to make an app like eBay.

With the availability of e-commerce platforms and affordable solutions by development companies, entrepreneurs can create their marketplaces at less cost than traditional businesses.

This democratization of eCommerce has fostered a wave of innovation and competition, leading to diverse and specialized marketplaces that cater to niche audiences.

♦ Data-Driven Insights

Online marketplaces generate a wealth of data on user behavior, product trends, and sales performance.

Using this data, one can get valuable insights to optimize operations, personalize user experience, and make better decisions for your business.

You can improve your services as per their preference giving you more reasons to build an online marketplace app like eBay.

♦ Scalability

Online marketplaces are highly scalable.

They can easily accommodate increasing numbers of users, sellers, and products without significant infrastructure limitations. This scalability enables rapid growth and expansion.

Additionally, you can scale your operations efficiently and cost-effectively.

Moving on, considering you are serious about building an app like eBay, you should know about the features that will make your app a hit in the market.

Features to Integrate in Your Online Marketplace App Like eBay

If you want to discover endless possibilities with your online marketplace app, then you need to work on features.

As it has become a key element to separate you from your competitors. Whether you’re a savvy shopper or a budding entrepreneur, our app empowers you to connect with a global community.

1. User Registration and Profile

A seamless registration process allows users to quickly create accounts. The easier the registration, the better the experience.

By asking for essential information, you can personalize their experience and access exclusive features. This builds a foundation for a strong user relationship and enables targeted marketing efforts.

2. Advanced Search And Filtering

Implement a robust search function with advanced filters to help users find products efficiently.

This will allow buyers to refine their searches based on various criteria, including price, category, location, brand, and condition. Furthermore, this will filter products as per their preference and make it easy to buy.

It results in enhancing user experience and increases the likelihood of finding desired items.

3. Product listings and Management

Enable sellers to easily create detailed product listings with high-quality images and descriptions.

You can provide tools for inventory management, price adjustments, and order tracking. This empowers sellers to effectively showcase their products and manage their businesses.

And, for a user it allows them to understand whether the product aligns with their needs and expectations or not.

4. Dashboard

A robust dashboard is necessary for both buyers and sellers in your marketplace.

To create an online marketplace app that’s successful in the market, it provides a centralized hub to track orders, manage saved items, and access purchase history.

Sellers benefit from a comprehensive overview of their listings, sales performance, inventory levels, and customer interactions. This way, dashboards empower users to make informed decisions and optimize their marketplace experience.

5. Ratings and Reviews

Allow buyers to leave ratings and reviews for products and sellers.

This fosters transparency and helps build trust within the marketplace community. Positive reviews attract new customers and boost the seller’s reputation, creating a win-win situation for all participants.

Whereas, even if there is something that’s negative when handled professionally can be a valuable tool for improvement, and encourage sellers to enhance their products and services.

6. Push Notification Services

A secret weapon that can keep your user engaged and informed, push notification services can be of help.

You can deliver timely alerts about new listings, price drops, order updates, and exclusive promotions; you can effectively drive app use and increase your sales.

The best way to personalize these notifications based on user preferences and behavior is to maximize the impact. Remember, the key to successful push notifications is to provide value and avoid overwhelming users.

7. Messaging System

Implement a built-in messaging system for buyers and sellers to communicate directly.

This facilitates negotiations, inquiries, and post-sales support. Simply stated, effective communication strengthens relationships and improves customer satisfaction. Besides that, it creates a convenient channel for interaction.

A well-implemented messaging system can help resolve any dispute efficiently and build trust between marketplace participants.

8. Shopping Cart

This is the virtual basket known as a shopping cart. Allow users to easily browse & add or remove items.

Plus, provide them with a complete breakdown of prices, quantities, and total costs. When they are ready, they can proceed to check out with just a few taps to finalize their purchase.

9. Secure Checkout

Make sure users can make payments with confidence through a secure checkout process.

Ensure to integration of multiple payment gateway options including credit card, debit card, or eWallet to protect user financial information.

Rest assured as you type in your payment information that it’s sealed tighter than a Vault.

10. Easy Order Management

To be the best eCommerce platform out there, you should offer users with easy order management feature.

Meaning, allow your users to keep a tab on their orders right from the moment of placing them till the delivery point takes care of every step.

Provide live order updates, shipping details, and tracking numbers, this way users can have peace of mind about where their order is.

Handle orders, returns, and exchanges with ease to optimize the customer buying path.

With this out of the way, let’s take a look at the step-by-step guide for eBay-like app development.

eBay Like App Development: Step-by-Step Process

Developing a successful marketplace app requires a structured approach. A well-defined development process makes sure that the final product meets user needs and business objectives.

Let’s get to know about it:

Step 1: Market Research

Thorough market research is the foundation of any successful product.

Ensuring to identify target audiences, competitor analysis, understanding market trends, and identifying potential gaps in the market are crucial.

This information helps shape the app’s features and overall strategy.

Step 2: Platform Selection

Choosing the right platform is crucial to both the efficiency of development and also its scalability.

When choosing between native app development, hybrid app development, and a progressive web app (PWA), consider factors such as cost, development time, scalability, and features.

Step 3: Development of Features

Based on market research and platform capabilities; define core and value-added features that will be included.

According to user needs and business objectives, features should be prioritized. A well-designed feature roadmap will provide for phased development.

Step 4: UI/UX Design

If you want to develop an eCommerce marketplace app like eBay, it’s important to focus on UI/UX Design.

Create a visually appealing and easy-to-use interface. Design elements should be consistent with the target audience and overall brand identity.

The user experience (UX) is crucial for customer retention and satisfaction.

Step 5: Development

The development phase works on prediscussed elements and turns them into functional code.

A skilled development team is key to building robust and scalable apps. Using Agile methodologies for iterative development and flexibility can help the process be more efficient.

This is why it’s one of the longest and most complex steps in the app development process, so make sure to communicate with the team to get what you intended.

Step 6: Testing

Rigorous App testing is needed to locate and correct any bugs and ensure a smooth user experience.

Various types of testing, including functional testing, usability testing, and performance testing, are used in assessing the quality of the app.

This will help you to make your app as per market requirements and functional.

Step 7: Launch

Once the final version of your app is ready, it’s time to launch your app.

You can consider publishing your app to PlayStore or submitting the app to AppStore. It will take some time to hear back from them, till then make sure to make some marketing strategies to make your app successful in the market.

Step 8: Ongoing Maintenance and Updates

App development is an ongoing process.

It’s important to have regular maintenance and updates with bug fixes or new feature additions all are necessary to keep the app competitive and current. Continual review of user feedback supports product enhancement.

By following these steps and paying attention to user needs, one can develop an eBay-like app that stands out in the market.

Cost to Develop an App Like eBay

Before embarking on this journey, investor has this one question in their mind “How much does it cost to build an app like eBay?”

Well, the marketplace app development cost can be somewhere between $30,000 to $80,000. The cost can increase or decrease as per different factors and elements.

If you want to understand the cost to develop an app better, take a look at this table:

This is just an estimate, to find out about the true cost to create an app like eBay, you should consult a mobile app development company with all your project requirements.

How Can Nimble AppGenie Help to Build an App Like eBay?

The marketplace landscape is going through a dramatic transformation, fueled by increasing preference for online shopping.

To be a trendsetter, take the help of the best marketplace app development company i.e. Nimble AppGenie. We bring a wealth of experience to the table and make sure that our solution doesn’t only meet user demand but exceed expectations.

With years of experience, our professionals can lend their expertise to make sure your app is a big hit in the market. So, if you have an idea, then connect with us to make it a reality.

Conclusion

Creating an online marketplace app like eBay is a complex endeavor that requires careful planning, execution, and ongoing maintenance. The potential rewards, however, are immense.

By understanding the market, identifying core features, and leveraging the expertise of a development partner like Nimble AppGenie, you can build a thriving platform that caters to a wide range of buyers and sellers.

Remember, success lies in offering a seamless user experience, a diverse product range, and robust security measures. Continuous innovation and adaptation to evolving market trends are essential for long-term growth.

FAQs

Niketan Sharma

Niketan Sharma is the CTO of Nimble AppGenie, a prominent website and mobile app development company in the USA that is delivering excellence with a commitment to boosting business growth & maximizing customer satisfaction. He is a highly motivated individual who helps SMEs and startups grow in this dynamic market with the latest technology and innovation.