Whether it is ecommerce or recommerce, eBay rules the market. Established in 1995, the platform now has more than 1.5 billion products listed for sales and purchase. By coming into the market, eBay facilitated the users to explore the nationwide and worldwide market while sitting on their couch. eBay currently has around 159 million users with more than 19 million registered sellers.
It makes eBay one of the biggest platforms for both buyers and sellers.
You might have merchandise to sell but might not have the resources to set up your business with physical infrastructure. There might be chances that you have an excellent product to sell but not the right audience in your locality. eBay addresses these kinds of problems and provides you a medium to set up a business without any physical infrastructure and connect you to a nationwide audience.
However, other than this market leader, there are several other platforms as well that provide similar services and features to that eBay. If you are already listed on eBay and want to explore other marketplaces as well, the following can be some of the best options for you:
Best Alternatives of an eCommerce App Like eBay
|Offered by||Amazon Mobile LLC|
Amazon can be another excellent choice for you to start a business on digital platforms. Amazon is the biggest e-commerce platform that connects buyers and sellers. There are several facilities by which anyone can start selling on the platform. You can simply register the name of your business and list the products. Moreover, Amazon FBA is another great method to sell the products without worrying about the warehouses and delivery facilities (amazon will do it for you).
|Offered by||Etsy, Inc|
Etsy is the best platform to sell and buy hand-made, vintage, and crafting supplies. The platform was introduced in 2005, especially for artists, crafters, and vintage enthusiasts. Currently, Etsy has a user base of millions providing the sellers a good marketplace to sell their hand-made and vintage products. A seller doesn’t have to face unnecessary competition from non-vintage or general product supplies on this platform.
|Offered by||eBid Ltd|
If eBay seems expensive to you, eBid can be a good option. eBid is a kind of light version for eBay as it provides all the features similar to that of eBay. However, the user base is quite limited and compact in eBid. The platform doesn’t charge anything to list the products on the website. The commission charged by eBid is also 3% lower than eBay’s. You can get rid of all these charges by just paying a fee of $99.9 and getting a Seller+ account.
|Offered by||Bonanza Portfolio Ltd.|
Bonanza is a popular ecommerce website. The platform has been voted for the “Best Overall Marketplace” by more than 50,000 suppliers. If you want to sell everyday lifestyle products, Bonanza can be the right choice for the business. However, only the new items and products are listed on Bonanza. Moreover, it doesn’t offer the feature of bidding and all.
|Offered by||Meta Platforms, Inc.|
Facebook marketplace is also a good alternative for eBay, with a monthly active user base of 800 million. However, it might not be accessible to you unless you reside in the US and wish to do business in the same country. The service of Facebook is limited to the US only. The platform allows the users to sell and buy products from a range of domains such as clothing, accessories, electronics, entertainment, hobbies, family, Home & Garden, Housing, vehicle, and many more.
The differentiating factor between eCrater and other similar platforms is that you can not face losses on this platform. Listing the products is completely free on the website. You only need to pay a commission of 2.9% of the product sales price when you get a sale through the platform. This commission fee is still meager than most of the other platforms, which includes eBay as well.
7. Ruby Lane
The platform is specially designed for the sellers and buyers of antique items, vintage collectibles, and jewelry items. The website’s product domain in particular, so it carries a niche user base. Running the business on Ruby Lane is slightly expensive as it charges multiple fees for setting up the business. Other than a set-up cost of $100, you will have to pay a maintenance fee, listing fee, etc.
|Offered by||Rakuten Rewards|
Majorly known as Amazon of Japan, the platform has punched shocking stats. The population of Japan in the year 2019 was 126 million, and more than 90% of the population was using Rakuten. You can sell or buy anything on the platform. The firm operates in more than 30 countries, including the US. You have complete authority to customize the store on Rakuten. Also, the platform doesn’t sell its own merchandise, thus lowering the registered businesses’ competition level.
|Offered by||Wish Inc.|
Wish is a good alternative for buyers and sellers to transact the products. According to the platform, Wish users spend around 30 minutes daily browsing for the products. So, the businesses and sellers get an active and engaged consumer base. Moreover, you don’t have to pay maintenance, listing, or hidden charges. The platform charges 15% of the total sales price, that too after the product is purchased by buyers. This 15% covers the delivery charges as well.
Craigslist is the best option for you if you already have a retail store and just want to digitize it in the local marketplace. Craigslist can make you popular in the local market and among buyers. Moreover, it is elementary to sell and list the products on Craigslist without fees or charges. Your contact with the buyer is direct on Craigslist. So, you receive direct cash from the buyer for the items you sell.
Market Stats of eBay eCommerce
|Launch date||September 1995|
|HQ||San Jose, California|
|People||Jamie Iannone (president, CEO), Thomas J Tierney (chairman), Pierre Omidyar (founder)|
|Business type||Public (NASDAQ: EBAY)|
- The revenue of eBay in 2020 was $10.2 billion, with an upward curve of 5.1% every year.
- The firm secured a profit of $5.6 billion in 2020.
- The Gross Merchandise Volume on the platform in 2020 was worth $100 billion.
- The platform carries a user base of 159 million according to the year 2021, including a seller user base of 19 million.
- The application was downloaded by around 599 million users in the year 2021.
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Business Model eBay – How eBay Makes Money?
eBay showed up when there was no market competition and secured the first-mover advantage. By making continuous improvements and changes, the platform has maintained a leading position in the marketplace. By connecting the seller and buyer, the firm has been securing a billion-dollar revenue for itself for decades. eBay provides the online store to sellers and lets them explore the user base nation and worldwide. Similarly, the platform offers the buyers with international product sellers to get a better deal. The platform is free for buyers; however, it makes revenue by charging different transaction fees from the sellers.
Source of Revenue
1. Insertion fee
The foremost source of revenue for eBay is listening charges. After the limited free listings, the platform charges a specific fee for every listed item to sell.
2. Final Value Fee
eBay charges the commission for every product sold on the platform. The commission ranges from 3.5% to 10%, depending on the category of the product.
3. Advanced Listing Upgrade Fees
eBay also makes revenue by promoting, highlighting, and relisting the items of a specific seller. The platform charges a fee from the sellers for these services.
Must-Have Features for An App Like eBay
- Social button on the listing
- Shopping cart
- Advanced search
- Search criteria refinement
- Wish list
- Products review
- Reporting products
- Exchange or return
- Multiple payment methods
- Auction features
Cost for Developing an App Like eBay
Just like the prices of products listed on these apps, the cost of developing the ecommerce apps also differs significantly. A concept like MRP or Price Tag can not be implemented in the app development process. Depending on the features and functionality you want to instill in your application, the cost of app development will fluctuate. More are the features, more time it will take for a developer to develop the app, and more will be the cost. However, you can estimate the cost of developing the basic app anywhere between $10,000 to $20,000.
How Can We Help You?
If you are already in the field of selling, introducing an app can be a good idea to uncover a wide range of audiences. The decision can nationalize your small business with little effort.
But if you are not in the business of selling but carry a good network and connections among the sellers and buyers, nothing can be a better option for you than an app like eBay. You can easily monetize your connection and network by providing them with a mutual platform. You can get a commission for every transaction that happens on your app. Moreover, you can also generate good revenue just by advertising if you manage to attract a good user base.
So, we can help you to start this digital app development journey in the online marketplace. With a team of visionary and experienced app developers, we can develop an app that meets all your requirements and needs in setting up an online business. Contact us, discuss your idea, get the right advice, and make the right decision.