How to Create an Online Auction Marketplace Like eBay

A successful auction website is determined by its distinctive features and functionalities it possesses. Ecommerce websites like ebay have greater response and higher visibility in the market. Ebay ecommerce platform has clearly understood what customers and sellers expect from its platform and it never fails to impress them.

Building an online auction marketplace like ebay is not a challenging task anymore as there is a vast development in ecommerce technologies and you can get the marketplace instantly with all features that are built in it.

What Makes eBay Stand among the World’s Best Marketplaces

Ebay has the major users in the market and it is one of the leading online auction portals in the US. The fascinating statistics about ebay will inspire any entrepreneur to build a marketplace like ebay. Let us check the interesting facts about the ebay ecommerce platform in detail.

• eBay holds more than 182 million active users worldwide.
• The dedicated eBay app is being used by 35% of mobile users in the US.
• Around 1.3 billion listings are available on the eBay eCommerce platform.
• In the last quarter of the year 2020, $24 billion worth of goods were sold on the eBay marketplace platform.
• 71% of purchases that are done through the eBay eCommerce platform enjoy free shipping.
• 61% of eBay audiences are between 35 to 65 years old.

Must-Have Characteristics of eBay Like Marketplace

Functionalities and characteristic features are the real pillars of any marketplace platform. Ebay ecommerce platform doesn’t compromise. If you plan to create an app like ebay then you need to take a clear look at the below mentioned aspects that are present in ebay.

• Open-source – eBay eCommerce platform is completely an open-source platform and this is why it is more flexible and agile and holds millions of users. Make sure you develop an open-source platform if you want to create a website like eBay
• Multi vendor – multi vendor marketplace platforms it has many advanced features and is much more beneficial when compared with online stores. Study more about multivendor and its features and build a perfect multi vendor marketplace like eBay.
• Withstanding high loads – the platform is supposed to be scalable as they will grow in data when they do good business. Building a marketplace like eBay needs to have scalable features to allow the business to grow well without losing any data.
• User experience – user experience you provide through your marketplace determines your business journey. Make sure you deliver the best user experience that can be found in a marketplace like eBay.
• Smart content delivery – build your marketplace with perfect content that will have the power to attract the audience to your platform. eBay eCommerce platform contains reliable and quality content and so that platform gains more traffic.
• Streamlined site design – put more effort into bringing out an eye-catching design for your marketplace platform. Pay more attention to the template you use in your website as it will make the audience stay on your platform for a long time and you will have a high possibility of order conversion.
• Mobile app – once you get settled with your eCommerce website, you can develop your platform into a mobile app that can gain the attention of a large number of mobile users. eBay eCommerce platform has a wider mobile audience.

Top Features to Include in Your Marketplace Based on eBay Security & Authorization

Unique features of the ebay ecommerce platform make it stand alone in the market. These features have supported ebay to survive and earn better returns.

• Product Catalog – categorizing products is the key aspect that is perfectly followed in a marketplace like ebay as it facilitates users to find products easily.
• Inventory Management – ebay ecommerce platform simplifies the business operation of sellers by providing a better inventory management system. Let your marketplace have a reliable inventory management system for your sellers.
• Reviews and Ratings – marketplace like ebay allows users to share their opinions and suggestions through reviews and rating features. This will support you in enhancing your platform and will also get you more customers.
• Product Search – advanced product search is very necessary for any marketplace. The Ebay ecommerce platform facilitates users to find products in a few clicks.
• Wishlist – allow your customers to save products in their wish list so that they buy them later without spending time again in searching the product.
• Support – never miss an opportunity to serve your customers whenever they need you. eBay eCommerce platform has a perfect customer supporting team that will clear all queries and issues raised by customers and has gained perfect customer ratings.
• Reports & Analytics– proper analytics and multiple reporting systems will help you to build your business in an efficient way. You can monitor your business through reports and analytics and can take necessary action that is needed to improve your business operation.
• Fast & Easy Checkout – around 60% of cart abandonment occurs during the checkout process. The eBay eCommerce platform has a better checkout page that will let users buy products without any difficulties.

Step by Step Guide to Build Your Online Auction Marketplace Website Like eBay

Now we have gained enough knowledge about the ebay ecommerce platform and its features that support its growth in the market. The next thought that we all will have in our mind is on how to build a marketplace like ebay. But before developing a website like ebay we need to consider a few crucial aspects as listed below.

1. Know Your Niche –  the foremost factor that needs to be finalized is to know your niche before you start building a marketplace like ebay. Be more specific in this factor, only then you will be able to focus on your target audience.
2. Set Up Monetization Models- revenue generation is the main reason to build a website like ebay. There are several revenue streams through which you can get returns. Choose the monetization model wisely and gain more.
3. Define Your Priorities, Vendors, Or Shoppers – set your goal on either to fulfill vendors’ demand or shoppers’ demand. The Ebay eCommerce platform gives more importance to vendors and all features are built accordingly.
4. Choose an eCommerce Platform – there are several platforms available in the market to build a marketplace like ebay. You need to select the one that gives higher flexibility and will be versatile and robust.
5. Set up Theme and Customize Design – select the best theme that will gain the attention of visitors. Also customize your website design and make it more mobile–friendly like ebay eCommerce platform.
6. Add the Features – go through all your competitors’ marketplace platforms and get their prime features to be developed in your marketplace. This will help you to confront your competitors and will get you more business.
7. Integrate Payment Methods– provide multiple payment options to customers so that they find it more comfortable to shop in your marketplace platform. Integrate all familiar payment gateways with your platform by checking with a marketplace like eBay.
8. Upload The Products – allow sellers to upload bulk products through your platform. The easy upload will make sellers feel comfortable working with your marketplace.
9. Enable Product Inventory and Shop Settings – your platform needs to have a technology-enabled product inventory system like the one that is found in the eBay eCommerce platform. Allow sellers to set their store with a shop setting feature and reduce their manual efforts.
10. Test Your Marketplace – before going live, you need to test your marketplace and make sure your platform is bug-free. If there is any bug then it will affect your marketplace reputation among your audience.
11. Launch – after molding the fully-packed application you can launch your marketplace online. Promote your brand and make it visible to your target audience as this will help you to get better conversion.

Wrapping Up

Building a marketplace like ebay is a challenging one and one needs to have more determination and knowledge to succeed in the market. Plan your budget and always monitor your competitors and their new marketing strategies. Come with your own counter-attack strategy to gain the attention of visitors. Just like ebay ecommerce platform, let your marketplace get greater visibility and wider customer base.