Marketplaces or online eCommerce markets are places or websites where one can find different brands of products coming from multiple vendors, shops or person showcased on the same platform. Marketplace could also be any platform like AirBnB which links 2 markets together. In this case house owners and people looking to book affordable stays. In a marketplace, always, different products and services has a place.
Nowadays, a large number of solutions are available create ecommerce marketplaces. SAP Hybris, Salesforce Commerce CloudMagento etc can be used to build marketplaces. Custom marketplaces like AirBnB can also be built with out depending on any existing e-commerce platforms by writing the code from scratch.
Without a doubt, eCommerce has changed the way people buy and sell things online. Reports suggest that 53% of the online users shop online every month and this has led more and more business owners to invest in Marketplace app development. Mobile shopping accounts for a large and growing user base who shop for products and services online. With more than 70% of people using Android smartphones, android marketplaces like the Google Play Store allows users to create apps and games for all Android devices. This has opened up an oportunity for mobile developers to create apps and monetize without directly selling by the use of advertisement revenues.
Online Marketplaces are considered one of the most successful business development model that can drive revenue for your business. Some of the popular monetization models are commission on sales, subscriptions, membership, listing fees and advertising. Metric Tree Labs provide the best marketplace development solutions for B2B and B2C sector.
Metric Tree Labs is driven by market experts who work with you to ensure your business idea is transformed into a profitable business. We have broad expertise in delivering flexible and scalable marketplace solutions for clients in various verticals. Leave us a message to know more about our custom built marketplace solutions.