9 must-have features to build an online marketplace in 2020

    • stunntech blog author image
    • Anshidha M J

  • |
  • Aug. 14, 2020

Thanks to the already established e-commerce industry, the world can manage its  COVID-19  pandemic by social distancing with convenience. Now since the pandemic hit, the demand for the online marketplace is interestingly surging. But there is not enough online marketplace for people to use in this high-need time, at least not much locally available in an area.

 

Business opportunists and aspiring entrepreneurs are now after online marketplace ideas to cope with the situation and cater to the unprecedented demand that may or may not be long-term. Big techs like Amazon, Etsy, eBay and Alibaba are gaining new markets since the demand for their products and services soared high. But how does one build websites like Etsy and Amazon that seamlessly help its sellers and buyers reach their goals?

 

 

Here are 9 must-have features that are important to build an online marketplace in 2020

 

  1. Homepage

 

A homepage is important so that customers can clearly navigate from the marketplace homepage to product filters(price,colour, brands,..etc), product suggestions last viewed items, or popular products. 

 

A homepage is also a great way to showcase your marketplace’s uniqueness with its design and appealing display of products. It helps in marketing your marketplace more effectively with its smooth design and user-friendly feature presented on the homepage.


 

  1. Sign up and sign in 

A marketplace requires two profiles for buyers and sellers, where their necessary information will be entered and updated whenever needed. 

 

For buyers, information such as their names, email addresses or mobile numbers, and passwords must be entered and for sellers, information such as Organisation name, phone numbers, addresses, tax details...etc.

 

  1. Wishlist

 

Wishlist is a key feature for both buyers and sellers. Apart from creating a personalized list of products the buyers wish to view and buy later, this also makes sellers job less targeting by being able to study buyer’s shopping behavior and showcasing these products whenever the customer return to the website.

 

Some best wishlist practices are below:

  • Allow customers to share their wishlist to friends and family.

  • Allow naming their wishlist for more engagements.

  • Make wishlists easy to find on the website with some creative and fun icons.

  • Use email and PPC strategies in wishlists so that customers can avail offers and discounts more visibly.


 

  1. One-click ordering

One-click ordering is a significant feature that is very user friendly and Amazon initially introduced this. This technique allows the customers to ease their payment process with just ‘one-click’. A customer can enter their previously entered and saved payment details to all their future transactions saving a reasonable amount of time.

 

  1. Smart Notifications

Notifications are one way to keep your customers connected to your marketplace by updating them timely about a product launch, offers and discounts, new feature updates and more. A personalized notification is more preferred that matches with the customerr’s shopping behavior.

 

  1. Product images

 

A beautiful display of products that trigger buying behavior in customers while browsing through them must be emphasized. Besides, products must be informative and real as well, this helps to boost the customer experience. For creating such a visually enticing experience, Amazon established specific standards for its product images, like using a white background when presenting products, using only certain recommended image formats, 

 

  1. Easy order reports

This feature is more likely to be very useful for buyers as they can view their order history. People like having a report statement of their shopping, having this feature would increase the credibility of your marketplace.

 

  1. Publish reviews and testimonials

 

Online shoppers tend to read reviews and testimonials before confirming a product for buying. Both positive and negative reviews are important since they increase their products’ credibility. It can be published in text format or as video content.

 

While a negative review can damage a product’s/seller’s image, but it is essential as it a good source of feedback that can help improve one’s service. Responding to a customer’s feedback shows that a seller provides an excellent post-purchase experience.

 

  1. Security

Every online platform is compared with the quality of this important feature. Customers that look for long term engagements with your marketplace measure the security offered by you. Henceforth from now, the need for this feature will only increase.

 

These are the important must-have features to build a thriving online marketplace. The demand for online shops and marketplaces will only increase in the pandemic and post-pandemic times. 

 

For best online rental shop and marketplace solutions get in touch with Stunntech solutions for FREE consultation regarding online marketplace setup. We provide the best software solutions with our uncanny expertise in the field of building smart and efficient online rental solutions.