HOW TO BUILD A PEER-TO-PEER MARKETPLACE WEBSITE

Buying online is not news, it’s an everyday routine. You need something, you type into the search bar and here you go – now you just need to choose from the variety of goods offered to you. With the e-commerce industry growing so incredibly fast, the competition on the market is also rising. Currently, there are more than 12 million e-commerce websites in the world. But you still can stand out and create a P2P marketplace with a household name.

What a peer-to-peer marketplace is

First of all, let SapientPro web development team clear out that the marketplace is not what a simple online store is. Although there are still products customers can buy, that’s not the same e-commerce business owner selling all of that. Peer to peer marketplace is a platform, where customers can buy and sell.

Sometimes all of us need to get rid of some old or new stuff that doesn’t fit us. And there are always people ready to buy it. This way, the p2p marketplace is providing a space for exchanging values not among companies (that is a B2B or Business-to-Business model), but for any people who have appropriate products.

Essential features to add

To begin with, you should be equipped with the must-haves any marketplace cannot and should not go without.

Let’s start with the most painful topic, which is security. People tend to abandon the shopping cart if they don’t feel like the website is safe. Shopping involves money, and customers need to be sure that the people they are sending funds to are not frauds. As a marketplace owner, introduce the authorization for the sellers because the verified accounts boost the trust. Oh, and again with the money, take care that there are enough payment options available.

The marketplace offers more than a few products, that’s why people choosing them. So make the search easier, add categorization and advanced filtering. This way you will avoid people scrolling product catalogs for very long and as a result quitting in impatience.

The other thing you can do to improve user experience is implementing a detailed product description. Unlike the brick-and-mortar stores, your customers can get to know the product only what is mentioned by the seller. Unless, of course, the customers may leave reviews and ratings. In p2p marketplaces, they are vital, as the statistics show that more than half online buyers read the reviews before making a final purchase or not decision.

Three ways of building a marketplace

Now, it’s time for you to decide how do you want to build your online marketplace? Take into account the budget and time you are ready to spend. Don’t forget about the final result you are aiming to achieve.

Saas solutions are usually implemented for online shop development. However, you may also use them for building a marketplace platform. You can use from the variety of design templates and not much professional work is required

One more one-size-fits-all solution is open-source e-commerce platforms. This choice will provide you with fast development and it’s not the most expensive. On the other hand, you can face “being like others” problem in terms of design uniqueness and the marketplace developed this way is hardly scalable.

Yet, there is one more option – develop it all from scratch. In this case, you cannot go without a professional development team. Spend more time, money, effort and get a top-notch flexible, fully-customizable and highly scalable p2p marketplace.

When it comes to creating big projects like the marketplace, there are so many ins and outs. Think carefully about your goals, take into account the tips written above and don’t forget to investigate the market. We do believe that by this time you already have a great idea of developing a peer to peer marketplace. Then, what are you waiting for?

HOW TO BUILD A PEER-TO-PEER MARKETPLACE WEBSITE