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Marketplace

Every year the marketplace is gaining more and more influence in Ukraine!

• A marketplace is an online platform that helps you sell and buy goods or services over the Internet. The procedure is as follows: first, sellers place their products on the platform, and buyers, in turn, choose the best options comparing: prices, characteristics and other parameters. It is important to note that the task of the marketplaces themselves is not to sell, but to ensure the promotion of goods, make the resource convenient and easy to use, and also attract traffic.

The largest sites include: Amazon, Alibaba, Rozetka, Wildberries, Ozon and others.

Features of the marketplace

If you decide to open your own online trading platform, then you should understand how it works. If you compare an online store and a marketplace, then the second one will have a big advantage of choice. You can not sell anything, but at the same time earn money,
commission from each transaction made on the site. After all, the marketplace does not represent the goods of a particular company, it is interested in sales, as it has the status of an intermediary between the seller and the buyer.

However, the created site does not guarantee instant profit. After all, developing a platform for a marketplace is the smallest part of the work. At first, you should build relationships with sellers and buyers to gain trust, as well as convince suppliers that it is the most profitable to work on your resource.

It should be noted that the marketplace is a rather complicated business model, which requires
invest to develop a customer base and good site traffic.

How does the marketplace work?

1. The seller registers on the site.
2. The process of creating a product card with its detailed description and characteristics, uploading photos in your personal account.
3. Ordering goods and placing them in the warehouse.
4. The buyer makes an order on the site, the process of making a purchase.
5. Sending the order to the specified address to the buyer.
6. Transfer of money by the marketplace to the seller.

When you have already familiarized yourself with all the pros and cons of the marketplace and understand all its features, we will tell you about what is required to create your own trading resource.

Stages of creating a marketplace:

1. Formulation of a unique product offer

   Before launching each startup, you need to clearly define the idea, decide what the peculiarity of your site will be. As practice shows, it is not so easy to come up with a USP, and you have to work hard to find the zest. We advise you to choose the niche in which you already have certain knowledge, and the competition is not so great.

2. Business model

   You can earn not only by receiving commissions from the platform, but also create other earning opportunities, such as listing. That is, to obtain admission to the placement of securities on the stock exchange, which will first check all the company’s documentation. In the case of an adjustable amount of net income and other indicators, you will be included in the exchange list and the company’s securities
   anyone can buy.

3. Quality functionality

   Of course, the main task is to provide users with convenient movement and, based on the selected segment, create basic functionality. You should consider usability, design and all the important components of the site with the prospect of further improvement.

4. Budgeting

   In order to correctly calculate the cost of the marketplace, you need to draw up a task that will include all the requirements for the design and implementation of the business platform. Just so, depending on the budget, the set of modules will vary, it is important to understand that the more you are willing to invest, the better the product will be, not only in terms of functionality, but also in terms of user experience.

5. Conclusion of contracts

   When all the previous stages are completed and the platform, in fact, is ready, it’s time to find suppliers of goods and create all the conditions for their retention. With each seller, you need to discuss personal working conditions, as well as the amount of commissions, in a convenient monetary equivalent.

6. Marketing strategy

   It’s time to start attracting potential buyers to your site, the most common way is to optimize the text for SEO queries. It is also possible to use targeted advertising, sending alerts via online mail and, of course, content marketing, in the form of posting various articles and posts on social networks or news portals.

At the moment, for many, this is a completely new system that, over time, will be able to complement traditional sales channels. Marketplaces are only gaining their popularity and in the near future will be firmly entrenched among companies.