The c2c (consumer-to-consumer) marketplace websites are growing in popularity and offer limitless potential for those who know how to utilize them. For example, Amazon made $121.2 billion in revenue in just the third quarter of 2022 beating analyst predictions of $118 billion. The company continues to grow at an unprecedented rate year after year.
So, if you want to build c2c marketplace, certain features are must-haves. If you’re looking to build a c2c company, make sure your platform has these essential functions. Otherwise, you’ll be at a disadvantage compared to the competition. In this blog post, we’ll discuss the key features that every online c2c marketplace should have.
C2C Marketplace Definition
A c2c marketplace is an online platform that enables buyers and sellers to transact with each other. The most popular examples of c2c marketplaces are eBay and Etsy. On a c2c marketplace, sellers can create listings for products or services that they offer, and buyers can browse the listings and contact sellers to purchase items.
The c2c marketplaces typically charge fees for listing items and for transactions, and they may also offer additional features such as buyer protection or dispute resolution. When choosing a c2c marketplace, it is important to consider the fees, the types of products or services offered, and the reputation of the marketplace. With so many options available, there is sure to be a c2c marketplace that meets your needs.
Must-have functionality for a C2C marketplace platform
Search and filters
A c2c marketplace platform must have robust search and filtering functionality in order to be successful. With so many different products and services available, buyers need to be able to easily find what they are looking for. Filters help them to narrow down the results so that they can find the perfect item.
Search also needs to be fast and accurate, so that buyers can quickly find what they need without spending hours scrolling through results. Buyers will not return to a platform that is difficult to use, so it is essential that c2c marketplace platforms offer a good user experience. Search and filters are two of the most important features for achieving this.
A c2c marketplace platform is only as good as the communication between buyers and sellers. Platforms that lack effective communication tools will quickly see a decline in users, as buyers and sellers are not able to connect with one another.
The most successful c2c marketplace platforms have several features that enable buyer-seller communication, such as private messaging, seller ratings, and review systems. With these features in place, buyers and sellers are able to connect with one another easily and resolve any issues that may arise. As a result, communication is essential for any c2c marketplace platform that wants to be successful.
One of the most important functions is account management. This allows users to create and manage their own accounts, inputting relevant information such as their contact details, payment information, and preferences.
Account management also enables users to view their purchase history, track their order status, and manage their shipping and billing addresses. Without this crucial functionality, a c2c marketplace would quickly become chaotic and difficult to use. Consequently, any platform that wants to succeed in this space must make sure that account management is a priority.
A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for businesses. Payment gateways shield sensitive information, such as credit card numbers, from being intercepted by malicious third parties.
When a customer enters their credit card information to make a purchase, the payment gateway encrypts the data and sends it to the merchant’s bank for approval. Once the bank approves the transaction, the funds are transferred from the customer’s account to the merchant’s account.
Payment gateways are the main functionality of c2c marketplaces because they provide a secure way for customers to pay for goods and services online. This is especially important for marketplaces that deal with high-value items, such as automobiles or real estate. By using a payment gateway, c2c marketplaces can offer their customers a safe and convenient way to make purchases.
How to Сreate a C2C Online Marketplace?
There are two main options for creating a c2c online marketplace – custom development and ready-made solutions. When it comes to choosing between the two, custom development is generally the better option. While ready-made solutions may be less expensive and require less time to implement, they are often inflexible and lack the features and functionality that many businesses need.
Custom development may cost more upfront, but it provides a much higher degree of flexibility and can be tailored specifically to the needs of the business. In addition, custom development allows businesses to create a unique brand identity for their marketplace, which can be a major advantage in a competitive market. Overall, custom development is the better option for creating a c2c online marketplace.
A c2c marketplace is a great way to connect buyers and sellers, but there are certain must-have features that any platform in this space needs to be successful. These features include buyer-seller communication tools, account management, and payment gateways. Without these essential functions, a c2c marketplace will quickly become chaotic and difficult to use. Consequently, any platform that wants to succeed in this space must make sure that these features are a priority.
Custom development is generally the best option for creating a c2c online marketplace, as it provides a higher degree of flexibility and can be tailored specifically to the needs of the business. By taking the time to create a well-designed and user-friendly platform, businesses can create a successful c2c marketplace that will attract and retain customers.