With the online classifieds industry positioning itself as a strong one as good as the eCommerce industry itself, there is plenty of scope for newbies to gain entry and establish presence. Here is what you need to build an app like LetGo, OLX, Shpock, Carousell, Wallapop, Offerup, Joysale etc..
At least six out of ten goods that we think are no longer usable have an afterlife. They can be sold as pre-owned goods to someone else who is looking for a cheap product at a throw away price.
Although people wanted to sell away their pre-owned goods, an easy platform to do it was not available. In 1995, Craigslist and a handful of online classifieds came into existence and set the foundation for the classifieds industry.
However, it is with the entry of smartphones and high-speed Internet bandwidth has the online classifieds business model has become mainstream, along with several other digital businesses, of course. As a result, many have set out to buy sell clone app like Letgo, Carousell, Wallapop and many others too.
The Diverse Aspects of Online Classifieds Industry
The online classifieds industry can be divided into horizontals and verticals. One can develop app like OLX & Quikr which deal with everything or create mobile app like Carousell which cater to a specific market. Horizontals include everything from classified ads for jobs, used vehicles, home appliances, real estate and so on. It is a single website from where you can find anything and everything.
Whereas, a vertical classified website focusses only on a particular product or service offering. It does not mingle anything else into the its offerings. As a result, the horizontal classifieds industry enjoys a wide client-base and sales volume.
Challenges Encountered in the Online Classifieds Marketplace Industry
The online classifieds industry has some peculiar challenges that stunts its growth. The first and foremost challenge is the disconnect between buyers and sellers. A common platform for both to connect and exchange information about products/services that they want to buy or sell is missing. In some cases, the seller may not be online when the buyer is which leads to communication gaps too.
Secondly, the availability of information. Buyers want to know from scratch until end about a product before they pay for it. Sellers either are either not providing such information or do not have the right platform to showcase such information.
Thirdly, the authenticity and the trust factor involved in online classifieds is difficult to build. Buyers are wary of the genuinity of the products and sellers are doubtful of buyers who pay promptly.
Last, but not the least, the online classified business owners themselves are skeptical about revenue monetization. In the present technological landscape, there are limited revenue models that can be tapped into to meet the costs of running the business and to earn profits.
The Future Prospects of Letgo like App
Although there are challenges, the online classifieds industry is on the rise. Even Facebook & Amazon have set up their own platforms for buyers and sellers to conduct business with each other. Facebook has rolled out a marketplace app for selected countries.
In india along the market size of the online classifieds industry is estimated to be touching $377 Million. There are a handful of players like OLX, Quikr, Shpock and several others in the horizontal space. These marketplaces offer users a simple and easier way to find products that they want to buy or make their own for a nominal price.
How to Build a App like LetGo, Carousell, Offerup
The easiest way to develop second hand market app like LetGo, Carousell, Wallpop, Offerup for Android & iOS is to use a readymade marketplace app software. You can always plan on engaging a professional development firm to do the job for you, however, a readymade script is easy to use and offers the benefit of ready-to-market.
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There is still more you can learn from here – Apptha Mobile App Marketplace
Apptha offers a marketplace app software which can be used to build letgo app without having to meddle with the coding. The app software Or classified marketplace script comes equipped with plenty of features that makes things easy for buyers, sellers and admins.
Features of Apptha Classified Mobile App Software include:
The broad features of Apptha mobile app include product listing management, product imagery, quick product search, selling features, account control features and endless other features are
- Advanced filter
- Product category management
- User account verification
- Infinite page scroll & pagination
- Automated billing
- Offer comparison management
- Internal chat system
- Payment integrations
- Multilingual compatibility
And 37+ other features.