eCommerce apps have soared in popularity thanks to a single concept they pioneered: bringing the goods to the consumer rather than the other way around. An app like Alibaba, Amazon, and eBay was among the first ones to introduce the concept of e-commerce platforms, and their popularity prompted a slew of new businesses to follow suit.
Given that you can purchase or sell any kind of product or service through your e-commerce platform, and that you can rely on factors such as digital media to popularise your e-commerce site, investing your hard-earned money to launch an e-commerce site is a perfect way to generate maximum revenue.
When you have the best mobile app developers on your team, you can create an app like Alibaba that rivals. If you’re thinking about starting an online store and need some advice on how to grow your business through an eCommerce platform, this article will help.
eCommerce platforms of Alibaba offer their services to customers around the world. The majority of transactions in the app are generated domestically. Alibaba along with AliExpresses hooks up various businesses in China that has buyers all over the world.
Alibaba was founded by Jack Ma in 1999 as an online marketplace. Its primary goal was to connect buyers all over the world to Chinese suppliers. It has the world’s fastest-growing eCommerce marketplace for online shopping.
According to Investopedia, the revenue of Alibaba rose by 33.8% and 18.1% in adjusted earnings per ADS in Q1 of FY 2021. The process of development of an app like Alibaba would not be an easy task but it can be achieved with the help of the right mobile app development company.
Alibaba is a huge platform with various features. It contains a very advanced and complex technology stack like artificial intelligence, big data, analytical system, etc. Your app should include MVP that will help your app in saving resources and entering the market faster.
The architecture of your app like Alibaba should be built on a strong framework. Find out what are the best frameworks for frontend and backend for your app. Let’s take a look at the essential features that you need to include in your online eCommerce marketplace app like Alibaba.
Below are described some features that are needed to provide a user-friendly experience to the sellers:
Buyers, similar to the sellers, would enjoy certain functionalities provided by your app like Alibaba. Some of them are:
For your app to stand out in the marketplace, you need to implement smart strategies. It is no doubt that apps having the same idea already exist in the marketplace. To make your app special and attract maximum users, here are some strategies you can follow:
Alibaba overcame eBay China by outnumbering them in the number of sellers registered. Alibaba offered free registration for both, sellers and buyers. This strategy attracted a lot of users to the eCommerce platform.
The monetization strategy of your app like Alibaba should focus on advertising, technical support and marketing. Alibaba offers these services in the form of membership plans. These plans offer better exposure of products and services to the sellers.
Your app should offer two basic types of memberships for the suppliers:
After the launch of Alibaba, users faced a major concern of uncertainty and security. People wanted to know if the sellers/buyers were legit and if the payment system was safe. The app implemented various security mechanism for the same. You can also consider these measure while developing your app like Alibaba:
Alibaba makes sure that the products listed on its eCommerce platform are not displayed in Google’s response sheet. To search for items, a user has to go directly to Alibaba’s application and search there. As a result, a customer is unable to see products on competing platforms.
You can implement this strategy in your app like Alibaba. This will increase the search volume within your platform. This monetization approach will allow your app to generate high revenues like Google does by displaying ads on other eCommerce platforms.
Alibaba has a unique Alipay payment method. Similarly, you should plan of introducing a unique payment system for your app like Alibaba. This escrow payment method will help in building a long-term relationship with both the parties present in your app.
According to Statista, Alipay acquired a worldwide user demographic of approximately 900 million. Implementing a unique payment method will offer, reliability to your platform and will also prove to be attractive to gain user attention.
Although the rest of the world using B2B, B2C, and C2C marketplace platforms, Alibaba pioneered a brand-new transaction pattern: the consumer-to-business (C2B) transaction model, which best meets customer demands and accelerates sales.
Your app like Alibaba should enable individual shoppers to form shopping groups to purchase limited volumes of goods at a wholesale price. This C2B transaction model lowers supply chain costs while also reducing inventory turnaround time.
Like Alibaba, you can also implement an O2O (online-to-offline) strategy for integrating the sales of online and offline platform.
There are numerous options for making money from your app like Alibaba. The most common ways of generating maximum revenues are:
Before the start of the improvement, we usually have a series of meetings to determine the scope of the project and devise a rough estimate. To calculate the costs, we evaluate the desired highlights and estimate the number of working hours required to complete them.
The cost of development of an eCommerce marketplace app like Alibaba depends on the features and functionalities included, platforms integrated, technology stack used and other things. The number of necessary worker hours is determined by the application’s multifaceted design as well as the numerous supported working systems and devices. The approximate cost of the development of an app like Alibaba is USD 41,000.
Alibaba has made a remarkable reputation in the eCommerce marketplace. It took approximately 20 years for Alibaba to create an organization of 600+ million active customers per annum. This is an opportunity to get an app like Alibaba developed for your business. With the right mobile application development company, it would not be difficult at all.
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