Electronic trading platforms in Ukraine. How to develop a successful marketplace? iTizzi Software Development Company

Global online retail (e-commerce) sales totaled over $ 2.84 trillion in 2020. Sales on trading platforms are carried out not only by micro and small but also by medium and large enterprises. The number of the largest has been growing lately. These new forms of selling have become an important part of both e-commerce and the economy as a whole. Marketplaces remove barriers to entry for new businesses and expansion of existing ones. In addition, they create new solutions and set directions in the digital economy, so more and more entrepreneurs are choosing to create a marketplace, develop complex projects and web platforms.

A marketplace is a platform that offers products and services from multiple vendors and allows customers to buy them. Most often these are products of third-party companies. Some platforms also offer their own products (e.g. Amazon, Allegro). Access to the sales of others is a prerequisite for the existence of a trading platform – otherwise, we are dealing with online stores. Sometimes trading platforms are mistakenly understood as online stores with a very wide range of goods. Sellers trade goods on well-known and frequently visited sites in exchange for a share of the profits from the sale. The marketplace business model is most often based on charging a commission for selling a product through the platform.

Marketplace platforms are gaining increasing interest from consumers. Sellers have the ability to offer products at competitive prices to an established customer base.

What are the benefits for sellers associated with the use of trading platforms, marketplaces?

• Brand awareness on the marketplace
• A large number of clients in one place
• Additional sales channel and source of income
• Ability to contact clients abroad
• Sales and logistics support
• Better product promotion (less search engine positioning and advertising costs)
• Access to innovative solutions (use of new technologies, marketing and logistics solutions by trading platforms)
• Access to analytical and benchmarking data.

Software development company iTizzi develops not only basic functions for the trading platform (registering sellers, parameterizing the platform, managing payments and product catalog) but also especially important functions in terms of usability:

• One shopping basket. The client has the opportunity to purchase goods from several sellers within one basket.
• Ability to rate products and sellers

The involvement of several parties in a transaction requires an appropriate system of supervision and resolution of possible disputes. The client is given the opportunity to rate sellers and purchased products, and the platform administrator has access to the history of the actions of the seller, the buyer, and their communication.

• Discount or loyalty program

Possibility to activate a discount or loyalty program for buyers.

• Statistics

Current understanding of sales statistics and the level of costs incurred. The ability to export orders to external systems.

iTizzi Software Development Company in Kyiv, Vinnytsia, Lviv is an experienced developer of marketplaces, complex web platforms, and turnkey websites:

• We have implemented many projects in the electronic markets, supporting the development of brands operating in the field of e-commerce.
• Working with us in the framework of the Marketplace service, you will have at your disposal the help of specialists and the care of an individual project manager.
• As an agency with status, we have access to completely new methods and forms of promotion that we used to better achieve the business goals of our clients.
• Our software development team knows exactly what is working and what needs to be repaired. We strive to improve your conversion rates and improve your ROI.
• Our managers have experience working with sales platforms. We analyze the business model and customer needs, then prioritize and design startups and campaigns to achieve the set goals.

Marketplaces are increasingly becoming the main sales channel for traditional sellers and online sellers in Odesa and Vinnytsia. For many bidders, they are a convenient solution as they attract new customers and provide them with service. Several new trading platforms are created in Ukraine every year. This is possible because the barriers to entry do not seem large. There is no need for warehouses, goods, logistics, as is the case with online stores. The timing and cost of preparing an IT tool, technical development of a trading platform, development of a marketplace at iTizzi is not a very big limitation, we invite you to cooperate!