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How Much Does it Cost to Build a Marketplace Website in 2021

The article was originally published on Codica Blog

Do you want to start a successful marketplace like eBay or Amazon? It is a perfect idea as eBay generated more than $10 bln of net revenue in 2020. Here comes the main question: how much does it cost to build a website marketplace in 2021?

For this reason, we have prepared a thorough guide that will help you get approximate pricing of marketplace development. It includes the list of features, technology stack, and software type your future platform will need.

Types of online marketplaces

What is a marketplace website? It is an e-commerce platform that works as an intermediary between buyers and sellers. It facilitates virtual shopping for consumers who can choose goods or services online from different suppliers.

Before building an online platform, you should define the type of your future marketplace. It is a business model that will help you implement the right monetization strategies.

Besides, marketplace websites can differ depending on the participants involved. They include the B2B, B2C, and C2C platforms. This classification is also important to understand the best revenue sources you can implement on your platform.

How to build a marketplace website?

So, you have two options: to build an e-commerce website from scratch or use a ready-made solution.

Off-the-shelf software

It is a good solution if you want to launch your online marketplace as soon as possible. It becomes available as you can skip wireframing, development, and testing.

However, this option also provides some drawbacks. For example, you can face customization issues. The matter is that the software includes certain limitations so you can’t go beyond them.

The most popular open-source products are Sharetribe and Magento.

So, how much does a ready-made solution cost? Sharetribe offers its customers the following prices:


Bespoke software

If you want to launch an e-commerce website with personalized business logic, consider custom software development. This approach will allow you to implement diverse functionality and build a complex system like Amazon or eBay.

There are different ways of starting the process of online marketplace development. These are as follows:

- In-house development team
- Freelance services
- Software development agency.

The core benefit of the last option is that such companies have solid experience in marketplace development. This way, you can be sure to get the solution that you need.

As for the prices for software developers’ services, everything depends on their rates and location. For example, Payscale states that the average hourly rate of a Web Developer in the USA can exceed $100 per hour.

In Eastern European countries, development costs are lower. For instance, if you decide to use the services of Ukrainian software development companies, they can charge you around $25-49 per hour.

To be more precise, here is a table of the average web developer hourly rates for the US, Western, and Eastern Europe regions according to Accelerance.

Tech stack for marketplace development

Before starting an online platform, consider the programming tools you will use to build a marketplace. Why is it crucial for entrepreneurs? The tech stack you implement will influence the application’s performance and maintainability. Shortly, you may get low page loading speed and face the scalability and update problems.

Let’s take a look at the main technologies you will need to implement the platform features.

Server-side
Take into consideration Ruby, Ruby on Rails, ElasticSearch, Redis, i18n gem, MySQL, Sidekiq.

Client-side
Considering front-end development, pay attention to the following tools: HTML5, CSS3, JS, React, Vue.js, Angular.

Tools and integrations
At Codica, we use AWS S3, GitLab, GitHub, Slack, and Digital Ocean.

Main functionality for a marketplace website

Here is the list of basic functionality for an online platform:
- Marketplace MVP features
- Registration / Authorization
- Profiles
- Item listing
- Advanced search
- The product page
- The shopping cart
- Payment methods
- The administrator panel.

How much does it cost to create a marketplace app?

If you need the exact figures, below is the detailed table. It shows the approximate costs of building must-have functionality for an online marketplace.


This way, it will take approximately 972 hours to build a marketplace app with advanced features. If we consider the average rate of $45, the price to build a website starts from $43,740.

In fact, there are two important factors that influence the final development costs:

- The unique requirements of each project;
- The hourly rates of the software company you choose.

Codica expertise in a marketplace development

At Codica, we have been building custom marketplace apps for 6 years. Our priority is to build fast-loading and engaging websites. They will help you generate traffic, boost conversion rates, and increase sales.

Since 2015, we have delivered successful applications for travel, finance, automotive, insurance, and other domains.

Multi-vendor vehicle marketplace
The Codica team built the platform for a successful startup that is the first vehicle marketplace in Africa. It enables buyers, private sellers, and dealers to interact. This way, they can buy, sell, exchange new and second-hand vehicles, motorbikes, and trucks.

What are the outcomes?
- 430% traffic growth for the past two years;
- 90+ independent online marketplaces operating separately;
- Lower page load time.

Summing up

We hope our article helped you realize how much does it cost to create a marketplace app. In case you want to hire a reliable software company, we will be glad to help you build a marketplace website. Check our ready works or contact us to discuss your project.

Originally published on Codica Blog.
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IBM Cloud IBM Cloud is the cloud networking service provided to the customers including, the architecture of IaaS, SaaS, and PaaS that are distributed via public, private, and hybrid cloud delivery setup. IBM has been working in providing enterprises with cloud-based services in the network, storage, data storage, and other services. IBM Cloud estimated its annual revenue at $19.16 billion A few of the leading services of IBM Cloud are: Cloud Migration Cloud Strategy Services Cloud Development and Management 5. Oracle Cloud Oracle Corporation brings out one of the leading cloud computing services via its oracle cloud. Allowing you to use the cloud resources such as servers, storage, applications, and other services through its vast range of global data centers. Oracle provides leading cloud services with the developing architecture of IaaS, PaaS, SaaS, DaaS helping build, deploy and access your applications via the cloud. Oracle had an estimated $ 18 billion in revenues for the year 2019-20. Oracle Cloud offers its service in: Compute Storage & Networking Data Management App Development 6. Alibaba Cloud Alibaba Cloud is the subsidiary of the Alibaba group having its headquarters based in Singapore. It is the largest cloud service provider in China. The services are offered on a pay-as-you basis and include Elastic Computing, Data Storage, Networking, and other services. It has its operations spanned across 19 regions and 56 Cloud availability zones across the globe. Alibaba Cloud had estimated revenue of $4.5 Million annually.  A few of the key service of Alibaba Cloud are: Integrated Cloud Suite Virtual Server (VPS) Cost-Effective Storage Service 7. Salesforce A leading cloud-based software company headquartered in San Francisco offers a range of cloud-based solutions for enterprises.  One of its highly used services is CRM, with it other services like marketing automation, application development, and data analytics. It had estimated revenue of $17 Billion for the year 2019-20 Salesforce leading services are: Customer Relationship Management Marketing Cloud Sales Cloud Commerce Cloud 8. SAP It is a global provider of cloud-based software services for enterprises to develop and manage customer relations and business operations. SAP is headquartered in Walldorf, Germany, and regional offices spanning across 180 countries. It is the largest Non-American software company in the world.  SAP developed ERP Software is its mostly used service across the globe. For the year 2019-20, SAP estimated €27 Billion in net revenue. A few other services offered by SAP are: Accounting and Financial Planning and Analysis Enterprise Treasury Management. Accounts Billing and Revenue Management 9. VMware VMware is a leading software company that provides its customers with services under cloud computing and visualization software. VMware desktop software has compatibility with Windows, macOS, Linux, and its enterprise-based hypervisor server has direct hardware connectivity allowing you to operate without any OS requirements. The company estimated around $8.7 Billion in revenues for the year 2018-19 Few services offered by VMware are: VMware vRealize Suite VMware GO VMWare Workstation VMWare Fusion VMware ESXi 10. Adobe Creative Cloud It comprises the cloud-based software services offered by Adobe Corporation. The cloud services allow the enterprises to avail of web development, graphic designing, photo, and video editing.  The services come on a subscription basis where one can download the service after purchase through the internet and avail it for the required period. For the year 2018-19, it estimated a $7.9 Billion revenue. Some leading service of Adobe Creative Cloud are: Adobe Creative Suite Adobe Dreamweaver Adobe Illustrator As cloud services are expected to grow more and more with the inclusion of emerging technologies like IoT, Artificial Intelligence makes it more scalable for enterprises to opt-in and utilize these services. The listed companies for the Cloud services are constantly improving their services and bringing the leading advancements to drive forward the enterprise businesses across varied domains.