E-commerce is the industry of radical changes. Right when the approaches shifted from product-centric to customer-centric, it was the onset of a new journey for the e-commerce sector. New retail apps with a better shopping experience for the users has the baton of leading e-commerce’s evolutionary race. As mobile apps continue to grow, they will encourage the arrival of even better e-commerce apps than before.
The marketplace apps like Letgo are the children of the current trend in the e-commerce division. With a unique principle of bridging the distance between buyers and users, the Letgo app is setting benchmarks for others to follow. Apps like Letgo raise the expectations from the e-commerce industry and refine the retail processes further. The ever-growing success of the marketplace apps is encouraging many others to invest in Letgo clone app development.
But, most investors step back as they cannot estimate the expenses of developing an app like Letgo. Are you interested in Letgo app development but feel intimidated by the expense? Don’t worry anymore.
In this article, we are explaining LetGo workflow, how to create an app like LetGo, top features, functionalities of LetGo, and the exact LetGo app development cost. Auxano Global Services, a top eCommerce app development company is here to raise the curtain to reveal how much it cost to build an app like Letgo.
What is Letgo?
Before going over to the cost section, it’s essential to get familiar with Letgo first. So, what is the Letgo app? Well, after Amazon, eBay, and other marketplace apps, Letgo walks a step beyond to provide a premium shopping experience for its community. Letgo app, the e-commerce giant, utilized the power of smartphones to redefine conventional retail operations.
The striking app took the relation between sellers and buyers to all new heights, streamlining the e-commerce processes further. The Letgo community is massive and continuing to grow even now. Following the Letgo ideology, many other similar apps keep coming to the store every day.
How Letgo App Works?
The working of the Letgo app sets it apart in the market. With a unique idea of close-knitting the buyers and sellers, the Letgo app seems to twist the wheel of transformation in the e-commerce sector. What’s so special about the Letgo app functioning? Letgo provides a platform for the sellers to come up with their products, post free advertisements, and reach potential local buyers. Using the in-built camera feature in Letgo, the buyers can click multiple snaps of their product for creating a capturing ad.
Aiding to enhance the communication between buyers and sellers, Letgo offers in-app chat and call features as well. Letgo app developers did their best to make the app a safe place. The buyers and sellers can rate each other on their profiles, easing out the retail process for others in the community.
What are the Most-Loving Features of Letgo App?
Letgo app edged over its competitors with the presence of exclusive features. Keeping the ideas of easy, fast, and safe retailing in the foreground, the Letgo app developers integrated a myriad of striking features in the app. The Letgo like app features influences the development cost primarily. So, let’s glance over the most-loving features of the Letgo app.
Registering to Letgo is not a tedious process. All you need is a social media account to get into the app community.
Searching and Filters:
The searching features allow dodging through the large community of Letgo easily. Using the pin-point filters, you can narrow down your search and get to the desired product quickly.
Letgo allows users to click product snaps and edit them in the blink of an eye.
A retail app is incomplete without payment. So, Letgo allows hassle-free and quick transactions for a better shopping experience.
Letgo offers a life-like perspective of a product to the customers using AR/VR.
The integration of robust fraud-detection algorithms make Letgo a safer marketplace for its community.
Buyer-seller communication is simple within the Letgo app using remarkable chat and calling facilities.
Letgo makes use of notifications to ensure that the users stay up-to-date on every event.
Required Technology Stack for Developing an App Like Letgo
Features are the essence behind the success of the Letgo app. Stepping back you will realize that the technology stack behind building Letgo is the most essential of all. Also, the more technologies used to build the app, the more is the developmental cost. Before even thinking about the Letgo app development cost, it is a must to get familiar with the popular technology stack behind marketplace apps.
Beyond the tech stack, the mobile platforms add up to determine the developmental cost. You can either go with Android or iOS or develop a hybrid app for both platforms.
Monetization Model of Letgo Like App
Running a marketplace app is a profitable business. The owners of the Letgo app family churn higher revenues through multiple monetization models. If you wish to step into the field of Letgo apps, you should know the money-making process for your business. Here are the most-common monetization models for marketplace apps.
1. Subscription Charges
The basic money-model of marketplace apps is asking for subscription charges. Although the basic features are free and available to all, the users can avail of the premium app features by paying a subscription rate.
In the crowded marketplace, a particular seller can pay extra for displaying his products in the featured tab of the app. Through paid advertisements, he can get even more buyers and interests in his favour.
3. Transaction Fees
Transactions are the last step before closing a deal. You can charge a transaction commission each time a deal is closed.
4. Seller Fees
Some of you might think that the seller fees model is charging the sellers for posting a product ad. No, it’s not that. Through the seller fees model, you charge a fixed commission for every finalized deal from the seller.
Phew! After learning about the most crucial aspects of Letgo like apps, you are all set to get abreast of the developmental charges. Without delaying further, let’s dive in.
How Much Does it Cost to Build an App like Letgo?
The features and business model of the marketplace apps seems intriguing, right? But how much do you need to spend on developing a fully functional app like Letgo? Well, it depends on the integration of features, target platforms, and country of development. Through a broad overview, the cost to develop a basic marketplace app is around $10,000 – $25,000. However, if you want to access a premium marketplace app, you will end spending around $40,000 for its development.
Now, as you know that the country of app development influences the cost considerably, it’s essential to glance over the labour cost in the top app developing countries. The app development charges in India, Canada, and the U.S.A are:
Functionalities are the remaining cost-driving factor in marketplace app development. Based on the number of hours required to develop each component, the charges of building the foundational features are:
- Front-End and Back-End Development (400 hours): $10,000-$20,000
- UI/UX Design (60 hours): $1500-$2000
- Documentation (40 hours): $1000-$2000
- Testing and Fixing (40 hours): $1000-$2000
Now you have the complete idea of developing a Letgo-like app and its cost as well. It’s time to roll the stones and develop a desirable marketplace app. Do the functionalities and tech stack confuse you? Worry no more as Auxano Global Services, the top Letgo app development company, is right here to take over all your worries. Get in touch with us and access our experienced team of app developers for your marketplace app. Contact us now!