“Buy, sell, and repeat”

In this modern era, marketplace apps are the most demanding apps for selling used products and buying useful products at a reliable cost. There are the most popular marketplace apps to sell or buy old products, such as Olx, Letgo, and Quicker. But nowadays, people use an app like Shpock to find the best deal within just a few seconds. Users can also purchase new things or items as well. 

As I have shown in a recent study, marketplace apps reached around $82 billion in 2023. And this can be grown to around $250 billion in 2032. 

This valuable data depicts that investing in marketplace apps is a profitable chance to grow the stuck business and start with a new stream.  

In this blog, we will explore robust steps to develop an app like Shpock and a variety of specifications that must be installed. 

 

What is Shpock?

Shpock is a digital platform that allows users to sell or buy old used things and products. Users can search for their specific products to buy and list the items for sale. It includes various features that can help users sell their used products quickly, such as premium membership and special discounts.

Users can also purchase new products at discounts, and this service mainly works in the United Kingdom. To create an app like Shpock, contact a mobile app development company to deliver cost-effective solutions. 

• Shpock app UK has multiple secure payment options like mobile app digital payments, online e-wallets, and net banking. 
• This online marketplace platform lets users list their selling items with detailed descriptions such as cost, specifications, and warranties. 
• Selling apps like Shpock have a basic user interface that enables customers to easily discover their specific items and products and mark them as sold. 
• Shpock app iPhone has a real-time communication channel that enables customers to chat with buyers or sellers about the specific product.

 

 

Market Analysis of Marketplace Apps

• According to a study, the marketplace apps reached around $82 billion in 2023. And it is estimated to grow to $250 billion by the end of 2032.
• According to a recent study, the marketplace apps are estimated to grow at a CAGR of 13.5% from a forecast period. 
• According to a recent report, 43% of people used marketplace apps to sell their used products and buy used products to fulfill their requirements. 
• The United Kingdom is the country with the most revenue generated in marketplace apps, and it is projected to generate more revenue in 2030. 
• These marketplaces will shift to cloud-based servers in the coming years and enable users to access services from anywhere.

 

10 Best Marketplace Apps

As we show the market analysis of marketplace apps, now consider the best marketplace apps to understand their functionalities. These successful marketplace apps help businesses design their own app and integrate advanced functionalities similar to Shpock. Now, look out at the best marketplace apps:

 

 

Applications	Downloads	Ratings	Launch Year	Availability
eBay	5B+	4.6	1996	Android, iOS, Web
Craigslist	10M+	4.0	1995	Android, iOS, Web
Vinted	50M+	4.5	2008	Android, iOS, Web
OfferUp	100M+	4.7	2011	Android/iOS
Letgo	100M+	4.7	2015	Android/iOS
Facebook Marketplace	1B+	4.5	2016	Android, iOS, Web
Depop	50M+	4.7	2011	Android/iOS
Wallapop	50M+	4.6	2013	Android/iOS
Carousell	100M+	4.5	2012	Android, iOS, Web
Poshmark	50M+	4.7	2011	Android/iOS

 

Why Entrepreneurs Invest in Marketplace App Development?

As we have shown, marketplace apps are highly demanded in this competitive world, and that’s why most businesses are investing in marketplace on-demand app development solutions. With the help of a marketplace platform, entrepreneurs profitably start their businesses and make higher returns to fill the investment. So, here we prefer some useful benefits that can describe how useful these marketplace apps are:

• High-Profit Margins
• Highly Demanded 
• Revenue Opportunities 
• Data Insights 
• Increasing Overall Sales

 

 

1. High-Profit Margins

Let’s begin with the first benefit: marketplace apps allow users to sell or buy their used products and items through the platform. These apps charge a commission on each sale of users’ products, which takes around 5% to 10% of every product sold. These can lead to higher profit margins and increased business valuation. 

 

2. Highly Demanded 

The second benefit is that Shpock clone apps are highly in demand in the marketplace, and most people use these apps to sell or buy used products. With the help of unique features, it can easily reached globally and make a bright face or reputed position. So, businesses must have to invest in it to reach globally and increase visibility and accessibility. 

 

3. Revenue Opportunities 

Let’s move to the third benefit: selling apps like Shpock provides various advanced revenue opportunities to grow businesses. These opportunities include advertising, in-app purchases, subscription plans, a freemium model, delivery fees, transaction fees, and collaborations. According to the Ecommerce app development services provider, they help businesses easily generate new revenue streams as income sources. 

 

4. Data Insights

Coming to the fourth benefit, similar apps in Shpock enable businesses to observe or analyze the users’ data-driven insights that can help businesses grow. This benefit analyzes the user’s behaviors, habits, demographics, preferences, most selling or buying products, and purchasing patterns. This will allow businesses to detect areas of improvement required and offer hot and early deals. 

 

5. Increasing Overall Sales

Let’s come to the final benefit: Create a mobile app that is well-organized or functional can easily used by any beginner user. These marketplace apps can easily reached globally, and increasing the user base can automatically lead the way to increase overall sales. So, increasing sales can attract businesses to invest in it.

 

 

7 Steps To Develop An App Like Shpock

To build an online marketplace website or app with full functionality, you must follow the essential steps that can easily understand the implementation phases. It can help businesses build successful apps and integrate automated operations. So, here we provide the robust Shpock marketplace platform development process: 

• Identify Goals and Market Research 
• Identify Core Features
• Choose the Best Tech Stacks
• Design UI/UX
• Development 
• Testing and QA
• Releasing and Marketing

 

 

1. Identify Goals and Market Research

Let’s go ahead with the robust development process, identify your project’s future goals, and clarify the overall requirements and needs. Understand your goals in the coming years and where you want to stand in this competitive market. Research the existing marketplace apps in this market and discover some useful features you can implement in your app. 

 

2. Identify Core Features

Let’s move to the second process of development: prepare a list of core features that can be added to your marketplace app. Analyze the features of existing apps that can be useful for your app and lead to success. Hire ServiceNow developers to identify the best or most efficient features for your marketplace app and also identify your primary users. 

 

3. Choose the Best Tech Stacks

Entering in the third stage of development, deciding the best tech stacks is a crucial task in the development stage. It includes various best tech stacks such as APIs, cloud storage, databases, security methods, testing methods, and programming languages. You can also observe the existing marketplace app tech stacks and observe their success rates before choosing. 

 

4. Design UI/UX

Let’s come to the fourth stage of development: Hire dedicated developers to implement a comprehensive design that can motivate users to use the functions. The designing phase includes a wide variety of resources such as layouts, premium plugins, themes, and other design tools. So, select tools according to the overall budget because there are various paid tools. 

 

5. Development 

The fifth stage of development includes many implementation phases that can be integrated into the live app. Developers need to be careful about these stages because they include various integrated stages, such as third-party integrations and built-in functions. So, developing a marketplace app will become successful and reach globally. 

 

6. Testing and QA

In the sixth stage of development, hire hybrid mobile app development company to check whether the marketplace app is working correctly or not. This includes many testing methods, such as security testing, implementation testing, and authentication testing. After that, check the app’s overall quality and ensure it remains the same to pass the quality assurance test.

 

7. Releasing and Marketing

Moving to the last stage of development, the marketplace app will be released to specific deployment platforms such as Android and iOS. You can also hire a highly-skilled development team to successfully launch the app as live running. The marketing phase includes high-rated marketing methods like writing blogs, advertisements, and sharing to social media platforms. 

 

10 Must-Have Premium Features for Marketplace Apps Like Shpock

Are you thinking of building an online marketplace platform? Then, firstly, you need to look out for the advanced features that must be installed in your app to reach wider audiences. Take a look out at the basic functionalities of marketplace app:

 

 

• Customer Registration

Shpock alternatives allow users to create an account via social media platforms, email, phone numbers, and more signup options. 

 

• Listing Items

Users can list items they sell in detail, such as cost, location, specifications, and more product information. 

 

• Account Management

Apps similar to Shpock enable users to manage their accounts or profiles and insert personal information such as name, email, phone numbers, and more.

 

• Search Nearby Products 

It provides a location-based searching feature that lets users search products by their nearby locations. It provides the flexibility to easily reach buyers or sellers at their locations. 

 

• Communication Channel 

Alternative to Shpock app provides an in-app chat feature that enables customers to chat with buyers or sellers and ask about the last cost. 

 

• Search and Filter

It allows users to quickly search and filter to find their specific item in a cost-effective budget. If you want to install this advanced feature in your app, reach out to a marketplace development company. 

 

• Secure Online Payment Options

The Shpock similar apps provide multiple payment options such as bank transfer, digital wallets, net banking, and credit or debit cards. 

 

 

• Help Center

Shpock clone apps offer customer support services for 24/7 availability to solve the users’ raised concerns and fix them efficiently. 

 

• Real-Time Tracking 

This platform offers real-time order tracking features to offer real-time order status and provide messages when an order has arrived or is out for delivery. 

 

• Notifications 

Shpock alternatives send alert messages to users or customers for new updates, listing items, most viewers’ messages, and more. 

 

The Cost To Develop An app like Shpock

The Shpock app development cost is highly affected by powerful resources and can also impact the fixed budget of app development. Costs can easily fluctuate, and businesses need to change their functionalities according to ongoing costs.

This involves features, functions, specifications, infrastructure, project requirements, deployment platforms, and development teams. The eCommerce app development cost is around $8,000 to $25000 or more. 

 

Cost to Make An App Like Shpock

 

Marketplace App Development	Approximate Cost	Estimated Time
Simple App Development	$8000 – $11000	2 to 5 Months
Med-Premium App Development	$12000 – $18000	5 to 7 Months
High-Premium App Development	$25000+	9+ Months

 

The online marketplace app maintenance cost lies between 15% to 20% of the full marketplace app development cost. Maintenance costs also depend on various factors, such as networking, software or hardware, customer support, fixing bugs, and updating features. 

 

5 Monetization Techniques of Marketplace Apps Like Shpock

Creating a multi-vendor E-commerce marketplace platform with rich functionalities but not generating revenue streams. As we show in most of the surveys, many businesses have no idea how they can make money from their apps. For that, here we provide the powerful monetization techniques:

• Listing Fees
• Subscription Plans
• Advertising 
• Transaction Fees
• Freemium Model 

 

 

1. Listing Fees

Let’s begin the monetization technique. Users need to pay for the listings of their items, and marketplace apps allow one or two listings to be free. Listings have a limited time of availability, and users need to renew them after that. These listing fees can easily generate new revenue streams and enable entrepreneurs to increase the company’s value. 

 

2. Subscription Plans

In the second monetization technique, Shpock Alternatives offers subscription plans to allow users to choose according to their requirements. The company offers free, premium, and high-complex plans. If users want to access the app’s full potential, they must choose the higher subscription plan. 

 

3. Advertising 

Entering the third monetization technique, marketplace apps allow businesses to show their products or items through your app. This advertising has various different types, such as banner ads, video ads, display ads, and more. Businesses can earn a profitable income by showing their products in advertisements. 

 

4. Transaction Fees

Transaction fees can also easily generate a new income source without any user issues. Suppose users buy an item and choose a payment option with transaction fees to the overall product cost. According to the marketplace app development solutions provider, these can generate higher profits and increase the overall valuation. 

 

5. Freemium Model 

In the last monetization technique, marketplace apps offer a basic version with simple functionalities and specifications for newly added users. With these simple features, users can not purchase the featured listing products, and there is no available real-time chat functionality. Users need to purchase additional features and other paid plans. 

 

 

Conclusion

Lastly, developing a marketplace app like Shpock is a profitable opportunity for businessmen to grow their businesses. We provide enough information to start a marketplace app easily and also deliver the right information about the overall development cost. Marketplace apps are highly demanded in this competitive market and offer various premium features such as security, listing items, and more. We offered the robust monetization techniques that define easy money-making strategies. 

Do you want to develop an app like Shpock to start your marketplace business? Contact our marketplace app development company to deliver high-quality mobile app solutions. 

 

Frequently Asked Questions

 

Q1. How Much Does It Cost To Build An App Like Shpock?

The Shpock clone app development cost ranges from $8,000 to $25,000 or higher. The cost can depend on such factors as infrastructure, maintenance, talent development team, and more. 

 

Q2. How Long Does It Take To Develop An App Like Shpock?

This takes around 3 to 9 months. A simple design app can take less time as compared to a high-complex design app. It also includes a number of features and the size of the app. 

 

Q3. How Can I Monetize My Marketplace App?

Monetization techniques can vary on the different formats such as:

• Featured Listings
• Subscription plans
• Freemium model
• Advertising
• In-app purchase

 

Q4. What Are The Core Features of Marketplace Apps Like Shpock?

We offer the various basic features that must be added to the marketplace apps:

• Product Listing
• Search and filter
• Multiple payment options
• Real-time chat
• Purchase nearby location items

 

Q5. How Much Does It Cost To Hire Mobile App Developers?

Hiring mobile app developers costs around $15 to $25 per hour. The cost is based on the developer’s exact location and working experience level.