How to Build a Marketplace: What to Know?

Got inspired by eBay or Amazon? You just in a right place.

I’m ready to share our experience and tell you about how it works and what you should know to create your own marketplace. It is not such a great challenge as may seem.

The marketplace is a great and simple tool for both sellers and buyers, that is why such eCommerce websites popularity is growing.

Today’s giants of the industry like Amazon and eBay appeared in 90s and there were not so many options available on the market. The founders had to create everything from scratch. Luckily, now modern technologies have made the process much easier. So, let’s see how it looks like:

1. First, and one of the most important steps, is market research. It will help you understand your target audience and what do they need. The research is like the basis of your future marketplace startup.
2. Choose the domain name — it should be simple and easy to remember. Avoid similarity with the famous brand. It is not a good practice.
3. Choose the right server provider. Keep in mind that a marketplace website is all about increasing traffic from different locations. So, it should be robust enough to avoid the users disappointment.
4. Take into account the following list of important features of your future marketplace: login, search option, shopping cart, call-to-action, product catalog and descriptions, secure payment gateway, support chat, social nets integration.
5. Make the research of eCommerce platforms available and choose the best one, which will perfectly suit your business needs.

Regarding the last point of the list, here I recommend Magento eCommerce solutions. Sure, the choice is wide and you can choose any. I can only judge from my team experience.

So, why Magento?

• Your marketplace users will experience the best online shopping thanks to the great customization options of Magento.
• Ecommerce features ensuring a great perspective for both customers, sellers and the marketplace owners.
• Magento is SEO-friendly eCommerce solution meaning higher rankings by search engines.

It is just a few points of the long list of Magento advantages. If you want to know more just check the link above.

In case you’ve already decided that Magento is the perfect solution for you and need to know more about how to create Magento Marketplace, contact our team for the consultation!