the covert breakout forced people to shop online let me tell you a fact the global
online sales increased by 40 percent post covet 19 spread on the top of that the viral sped
played like a way to big success of online market platforms like itsy amazon uber and many more so
if you are a budding entrepreneur willing to create your own branded online marketplace
like amazon or uber do watch this video till the end before we start if you are new to our channel
do press the subscription button and hit the bell icon that you don't miss any update from us
being a leading online marketplace development company we at cobu labs have helped more
than 500 business owners and entrepreneur launch their own branded online marketplace
so let me now explain you step by step the process to create online marketplace but before that
let's talk about the future of online marketplace shopping online is one of the most widespread
activity on the internet as per the reports the global e-commerce market is expected to total 5.55
trillion us dollars by the year 2022. well talking of 2020 the world leading online marketplace
made over 3.6 trillion us dollars not only this it is expected that a p2p marketplace platform like
amazon etsy and airbnb will amount to 7 trillion us dollars by the year 2024 so if you are planning
a profitable move this is the time the first step to create a successful marketplace is idea
validation and market research before you start with anything it's really important to research
and test whether there's an actual need for your marketplace or not find out your competitors and
figure out the potential niche for example airbnb solves the problem of expensive room hotels
for travellers carpool application like blah blah help book taxis in inflexible routes and schedules
therefore conduct a marketplace research to allow your potential users to test the product for the
idea validation here are some questions that will help is there high demand of your product
what is the feedback of the user who tested it how big is the marketplace that you are addressing
how well your users understand the product concept and finally what's your dependency
on external resources remember you'll have to go through countless brainstorming sessions
interview your target audience and conduct manual research as well next step is building a website
for your marketplace now for marketplace website development you have two options either create
your own marketplace website from the scratch or develop it using the existing marketplace
platforms for the first one you will have to hire a team of a project manager ui and ux designers
web developers qr engineers for the second one you can make use of online marketplace
builder platforms now this is where codeblue labs can serve you the best
being the team of more than 500 plus marketplace plus website builders we can transform your
marketplace idea into reality build your marketplace with codeboo labs we can take care of
all the stages involved in creating an online marketplace like making a prototype and testing
your marketplace idea to attract the first user and gain initial investment preparing a project
documentation including detailed information about your project number of features functionalities
design third-party integration and much more and most importantly developing a marketplace website
mvp now mvp or you can say minimal viable product is the best way to attract initial
users and gather genuine feedback on your marketplace based on the public opinion feedback
with codeboo labs you can get a ready-made customizable online marketplace solution having
all the required features like easy to sign up and profile setting search and filters real-time chats
multiple payment integration reviews and rating and much more not only this with code view labs
your idea remains completely unique and safe as we are open to sign up any non-disclosable agreement
from our client's end now the point left is how much will it cost to build an online market space
in the year 2022 or how does a marketplace solution works well we are again here for you
check out our video and get a detailed insight on the cost of building your own marketplace
by our cto mr parker dillon to conclude being the best marketplace builder colu
labs will help you with validating your idea to business planning revenue generation plan
to preparing a compelling investor pitch desk mdp development 2 pre and post launch marketing so
what are you waiting for get in touch with us and let's start creating your online marketplace today