The Cost of Creating an Online Marketplace Like Haraj

In the vast landscape of modern commerce, a digital revolution is underway, transforming the way we buy and sell goods & services. From browsing for clothes to looking for unique gifts, these online marketplaces offer convenience and variety like never before. Overall, virtual marketplaces have transcended geographical boundaries, connecting buyers with sellers in a seamless digital exchange. 

Imagine this: A shopper in New York can browse through an endless array of products across the globe with a few taps on their smartphone screen. This is the power of buying and selling platforms, where convenience meets opportunity at the vast expense of the internet. Haraj is one such successful buying and selling online marketplace. 

Having said that, business owners are availing of eCommerce app development services to build a buying and selling platform. However, what concerns them is determining the cost of creating an online marketplace like Haraj. To give you a rough idea about the cost of building a marketplace website like Haraj, it can range between $30,000 to $3,00,000.

In this blog, we will walk you through the factors impacting the cost of creating an online marketplace like Haraj, and the essential features you must integrate into the platform. Additionally, we’ll also delve into different ways to reduce the marketplace app development cost and its development process. 

Benefits of Creating a Buying and Selling Platform Like Haraj

Creating a buying and selling platform like Haraj offers numerous benefits for both business owners and users, such as:

• Setting up an online platform can be more cost-effective than establishing a physical store, especially for small businesses and individual sellers. 
• The platform is accessible 24/7, allowing users to browse and make purchases at any time convenient for them.
• Sellers can reach a larger audience beyond their local area, potentially increasing sales and exposure for their brand. 
• Users can easily search for specific items and filter results based on various criteria, making the shopping experience more efficient. 
• Platforms like Haraj often foster a sense of community among users, creating opportunities for interaction, networking, and sharing of information. 

Factors Impacting the Cost of Creating an Online Marketplace Like Haraj

Developing an online marketplace like Haraj can contribute to your business success as it yearly generates $10 million to $15 million in revenue. Additionally, the eCommerce platform market size is projected to reach $13.5 billion by 2028. 

Now, coming back to the main concern – the cost of creating an online marketplace like Haraj. 

This is the most asked question by business owners. There are multiple factors affecting the cost of creating an online marketplace mobile app like Haraj. 

Here is a list of significant factors, influencing the cost of creating an online marketplace:

Platform Development

The first and foremost factor impacting the cost of creating an online marketplace like Haraj is the platform complexity, including features, like user authentication, product listings, payment options, UIs, etc. Developing a custom platform from scratch will likely be more expensive than using existing marketplace software or platforms. 

Technology Stack

The choice of advanced technology services (programming languages, frameworks, and hosting infrastructure) can affect development costs. Using popular and well-supported technologies may reduce development time and costs compared to less common or proprietary tech stack.

Design and User Experience

Well-designed and intuitive UI design services are crucial for attracting and retaining users. Consistent visual branding, like colors, typography, or imagery can reinforce your marketplace and enhance brand recognition. As a result, investing in professional design services will increase costs. 

Features and Functionality

The complexity of the features you want to integrate will significantly impact the cost of creating an online marketplace like Haraj. This includes user registration, product listings, search and filter options, payment gateway integration, notifications, and much more. 

Customization and Scalability

Customization and scalability are crucial considerations that can affect the cost of creating an online marketplace like Haraj. As your marketplace grows and evolves, you’ll likely need to invest in customizations and additional features to meet the changing needs of your users and stay competitive. 

Must-Have Features for Online Marketplace Apps Like Haraj

Creating a successful buying and selling platform like Haraj requires the integration of essential features, catering to the needs of both buyers and sellers. 

Here are some key features you should consider incorporating:

User Registration and Authentication

The primary feature you should integrate into your buying and selling online marketplace apps is easy user registration, enabling users to create accounts securely, either through email or social media sign-in. Implement robust authentication mechanisms to ensure the security of user accounts. 

Product Listings

Enable sellers to create detailed listings for their products, including titles, descriptions, images, categories, and pricing information. Provide tools for managing inventory and tracking product availability.

Search and Filter Options

Implement advanced search and filter functionalities to help buyers find relevant products quickly. Allow users to filter search results by category, price range, location, and other relevant criteria. 

Secure Payment Gateway

Integrate a secure payment gateway to facilitate transactions between buyers and sellers. Support multiple payment methods, including credit/debit cards, digital wallets, and bank transfers, to accommodate diverse user preferences. 

Notification System

Keep users informed about important events, such as new messages, product inquiries, order updates, and system notifications, through a notification system. Allow users to customize their notification preferences to suit their needs.

Social Sharing and Integration

Enable users to share product listings and marketplace activities on social media platforms. Integrate social media sharing buttons and features to enhance visibility and encourage user engagement. 

Tips and Tricks to Reduce the Cost of Creating an Online Marketplace Like Haraj

Building an online marketplace like Haraj can be a significant investment, but there are several strategies you can employ to reduce costs without compromising on quality. 

Here are some tips and tricks that can help you reduce the cost of creating an online marketplace like Haraj:

Start with a Minimum Viable Product (MVP)

One of the effective tips to reduce the cost of creating an online marketplace like Haraj is to focus on building the core features necessary for launching your marketplace and validating your business idea. By prioritizing essential features & functionalities, you can reduce the development time and costs upfront. 

Utilize Open-Source Platforms and Tools

Leverage open-source platforms and tools for building your marketplace, such as WooCommerce or Magento. These platforms offer customizable solutions that can significantly reduce development costs compared to building from scratch.

Opt for Cloud Hosting Services

Choose cloud hosting services like AWS, Google Cloud, or Azure, which offer scalable infrastructure and pay-as-you-go pricing models. This allows you to scale resources based on demand and minimize upfront hardware costs.

Use Templates and Themes

Utilize pre-designed templates and themes for your marketplace website development solutions or mobile app. Platforms like ThemeForest or TemplateMonster offer a wide range of customizable templates that can save you time and money on design and development.

Maximize Organic Growth

Prioritize organic growth strategies to attract users to your marketplace without relying heavily on paid advertising. Optimize your website for search engines, leverage social media platforms, and encourage word-of-mouth referrals to increase organic traffic and user acquisition.

Focus on Marketing ROI

Another key factor that will reduce the cost of creating an online marketplace like Haraj is investing in marketing channels that offer the highest return on investment (ROI) for your marketplace. Experiment with cost-effective strategies such as content marketing, social media advertising, email campaigns, and influencer partnerships to reach your target audience effectively.

How Much Does It Cost to Build a Marketplace Website?

Providing an exact estimate for the cost of building a marketplace website is challenging without knowing specific project requirements. 

However, For a basic marketplace website with essential features such as user registration, product listings, and search functionality, the development cost could range from $25,000 to $30,000. 

For a more feature-rich marketplace website with advanced functionalities like ratings and reviews, seller verification, notifications, and more sophisticated design requirements, the cost could range from $50,000 to $150,000 or more. 

Hire the Expert Team of Appventurez to Build an Online Marketplace Like Haraj

With extensive experience and expertise in app development, Appventurez can help you bring your marketplace vision to life. We have a team of skilled developers, designers, and project managers who are dedicated to delivering high-quality solutions tailored to your specific requirements. 

We offer a comprehensive range of services, including a mobile application strategy, application design services, MVP in software development, and much more. Our team prioritizes client satisfaction and strives to exceed expectations at every stage of the development process. 

By choosing us as your development partner, you can benefit from our industry knowledge, technical proficiency, and commitment to excellence. Whether you are a startup owner or an established business, we can provide the expertise and support you need to create a successful online marketplace like Haraj.