Online shopping has always been on the rise as users around the world prefer to shop online rather than traditional street-side stores. The deep-rooted eCommerce industry has left an indelible footprint on society that goes far beyond the ability to buy an item anywhere and anytime.
The online marketplace has made significant changes as to how companies engage and reach more and more customers, the online marketplaces have become more popular among the users, thanks to the technology for making the shopping experience easy, convenient, possible, anywhere and anytime. However, the main objective of a marketplace is to facilitate effective and seamless cooperation between buyers and sellers. Using classified apps, people can easily buy and sell old/new products online from the comfort of their home that is why the eCommerce industry is becoming more popular worldwide.
That was the time when people used to visit the newspaper agency to advertise or to write an ad. Even today, everything remains the same but the way of selling or buying things has changed. Yes! It can be done using a classified app and indeed it’s easy to use and very convenient.
OLX is one of the largest classified sites that millions of people use it to sell and buy old or new products. Using apps like OLX, one can easily list their used products in order to increase the chances of getting their products or services sold at a great price.
Like any growing business, OLX all over the world has caught enough attention of many entrepreneurs, start-ups and investors to build a business model like OLX.
In this article, we will discuss how to build buy sell classified app like OLX and how you could make huge money with a classified app, but remember there would be so many challenges that might come when building such a website.
This is the right time if you are planning to build your online marketplace app, this article can help you with that.
How Does OLX Make Money
OLX provides a platform for the buyers and sellers to connect and buy and sell old/new things and many other services. How does OLX make money? This question often comes into mind when we think about how they make money. Various classified apps act as an affiliate to seller’s products and cut their commission. But OLX has a different business model. The prime source of revenue for OLX is through Featured Posts, Google Custom Search Engine, Sponsored Links, and Google AdSense Monetizing.
To develop your own classified app like OLX, you need to focus on top functionalities and features that are useful for the public. Let’s have a look at the advanced and essential features that you need to implement in your own classified app development.
Features of App like OLX
- Login/Register– Users (Buyers/Sellers) can register themselves in order to get into the application.
- Profile Verification– For profile verification, users will get the profile verification link on the registered mail id. After verifying the account the users can get into account frequently to sell and buy things.
- Add Personal Details– Users can add their personal details where the mail id and phone number would be mandatory.
- Add Products For Sell- Users as a seller can list their products for sale by choosing a product category.
- Product Details- In this, the seller would be able to sell products if they provide products with essential information such as products images, Brand name, manufacturing date, Ad title, prices and more.
- Browse Products By Category– A user can browse products by categories such as Property, Computer Hardware, Mobile and more.
- Recommendations– Newly added items can be shown on the home page of the app so that the user can access the products directly from there.
- Chat- In this section, an individual as a buyer can chat with the seller.
- Favorites List- Favorite list is a collection of desired products saved by customers to their account. A user can access desired products that they have saved in their favorites list to purchase later.
- My Account- In this section, a user can manage their account, order & billing. A User can change the settings like Privacy Setting, Notification settings, Account Deactivation or logout. A user can also go to Help and Support in case if the user needs any help for the application.
- Product Information- Product information is very important to get detailed information about the product. A user can check product information such as product images, product price, product description, etc.
- Coupon Code- A user can apply coupon code to get the benefits from the admin side.
- Browse Seller Profile- Users as a buyer can browse sellers profile and can check whether the seller is verified or not. Buyers can also check the badge provided by the admin and rating & review of Seller profile.
- Product rating/review- A user can check product rating/review and can also provide review and rating for the same.
- Customer Support– Users can take support related to the services from the admin.
- Login– Admin can log in to manage the various things such as operations, products, users and more.
- Dashboard– Dashboard should be user-friendly, and easy to use so that the admin can easily track the various activities running in the application.
- Customer Profile Verification– Admin can verify the profile of sellers and buyers. It is very important for secure buying.
- Manage Users– Admin can manage the sellers and buyers as admin can add and reject the request of sellers and buyers.
- Manage Rewards– This is the best feature to engage more users. Admin can manage rewards in order to increase usability.
- Cloud Storage Integration– Admin can manage a large amount of data over the cloud storage with ease.
- CRM Integration– To handle the various operations, you need to implement this feature to increase efficiency and reduce the time & money.
- Payment Gateway Integration– Admin can manage payment that would make by the seller.
- Reporting and Analytics– On dashboard admin will be able to see analytic reports of ads posted on the app.
- Push Notifications- Admin can send a notification to the users about the new products added, products sold out, offer and more.
Other Advanced Features
- Multilingual– This is the best feature if you are targeting customers across the world. This feature helps your users to access the applications in their designed language.
- Geo-location Integration– This feature will let your users check the location of sellers where the ads have been posted.
- Social Network Integration– You can integrate this feature to help your users to share products to the friends and family using social networks.
- In-app Payment– Using this feature the user as a seller can make payment to the admin.
- Certified Sellers: Sellers get certified by providing the right document to the admin asked by the admin.
Cost of Development App Like OLX-
Well, your requirements will define the cost of classified app development like OLX. If you want to implement all the advanced and common features and functionalities in your app then the cost of development would be around $20,000 to $25,000. If you outsource your app development work to the Asian country like India, then you can save huge time and money on development as the top app development companies in India provide a quality solution at a pocket-friendly price.