Online marketplaces have become really popular in today’s modern age. The best examples of the online multi-vendor websites that we see today are Amazon and eBay. From being a book-selling store to the all-in-one online shopping center, Amazon has come a long way since its launch. You could also build a multivendor marketplace website where you can connect merchants with customers and allow people to exchange all kinds of goods on a single platform.
If you are planning to build an eCommerce platform, the first factor you must take into consideration is the cost. It’s not going to be cheap. After all, you are building a complex website that has a plethora of features. Let’s see how much the marketplace development will cost you.
Cost of Multi-vendor Marketplace Website
The cost of any website or marketplace mobile app development project depends on the development model you choose, the features you are adding, and the complexity of the project. It also depends on whether you want to use a ready-made website template with the pre-designed feature or build a website from scratch. The latter will cost you more but works really well if you want customized features on your online marketplace website.
It’s hard to predict the cost of a multi-vendor marketplace website since the total cost of development depends on a number of factors. Usually, web developers charge prices on an hourly basis. So, the total cost of the app development depends on the number of hours they take to build the website.
Who You are Hiring?
It goes without saying that the more experience your web developer has, the higher they will charge. Unfortunately, there is no fixed price. The developer will give you a quote after considering the complexity of the project, the number of hours it will take them to finish the job, and what expertise the project requires.
The average fee of a web developer in the United States is $132-$140 per hour. The same in Eastern Europe is $35-$56 per hour.
Read also:How to Use Machine Learning and AI in Marketplace Development?
Breakdown of the Cost
Let’s say the developer charges $45 per hour for the multivendor website development project. The project involves the following components:
- UX and UI development
- Home page
- User profiles
- Search and filters
- Product page
- Shopping cart
- Buyer panel, vendor panel, and admin panel
- Reviews and ratings
- Authorization and security
Each step involves a set of features. You can either work with a professional who charges a fixed price for the web development or on an hourly basis. On average, the total cost of the multivendor online marketplace web development will be approx $43,740 and it takes 972 hours for the project to complete. Again, that’s only the average time and cost. You should discuss your requirements with the software and website developer to get a better idea of the cost of website development.
Features You Need on the Website
The multi-vendor online marketplace is not like your usual eCommerce websites that have a product page and a shopping cart. You can check the menu section of eBay, Etsy, and Amazon to know the type of features the eCommerce marketplace needs.
Basically, you need profiles, item listing, the product page, the shopping cart, the administrator panel, registration & authorization, shipping, wishlist, reviews and ratings, and so on.
Building a marketplace mobile app or website from scratch is not cheap. You must hire a credible and professional web development team to get the job done perfectly. For more information about the cost of the project, discuss your needs with the website developer.