In today’s world, users prefer online platforms to buy or sell anything. The Offerup app gives you the freedom to do this on your mobile. Using the app, you can easily buy or sell things with your family, friends, and people around your area. It is a cash-based app, so you can pay cash to the seller to get the item. As per Sensor Tower, In July 2022, OfferUp’s total mobile app revenue was $3 million, including $2 million for iOS and $500k for Android apps. There were 1 million mobile app downloads for OfferUp, including 600k iOS and 500k Android apps.
If you are looking to get such an app and want to know the cost of developing an app like Offerup, then you have landed in the right place. Find out all about Offerup-like app development by following the blog.
Let’s first understand what OfferUp is.
What is Offerup?
OfferUp is a mobile-based marketplace where buyers and sellers can connect to trade goods. The Deal of the Day feature gives users special discounts on every item when they purchase. The app makes a lot of money because the users do not have to pay the seller upfront. This is called a peer-to-peer (P2P) payment platform. The users receive a good amount of money from daily deals.
Why Build E-Commerce Marketplace Apps Like Offerup?
The fact is that peer-to-peer marketplace apps are gaining popularity these days, and this is a potential area for entrepreneurs. It does not matter what type of products or services you have in your home; you can sell them on this app and earn good money. People will prefer to use it over others if it’s functional and reliable enough. These apps are also compatible with all kinds of products, and this applies to hardware items, software services, and more.
It’s a well-known fact that the internet is growing fast. As a result, so are apps like Offerup in terms of popularity. You can run any type of business on it because you don’t need to invest a lot of money to get started. You can use the app for marketing your products and services and selling them at an affordable price. This is another reason people use it these days: they do not want to spend too much money shopping or selling things online.
How does Offerup works?
In Offerup, users can easily come to the onboarding process once they install the app. The app has a great user interface that looks friendly and easy to use. Users can use the menu on the left side of the screen to log in, check their profile status, re-login, or update their details. You can also check on current offers or user profiles.
When a buyer clicks the “Hold Offers” button, the item is marked as sold, and OfferUp takes payment information to ensure the payment is received. The buyer will offer the seller a QR code to scan when they meet up. All kinds of payment options can be linked to OfferUp accounts.
What Is the Monetization Model of Popular Marketplace Apps like OfferUp?
Nowadays, there are a lot of online platforms and online marketplaces that allow users to trade goods. The main benefit of these platforms is that they make the purchasing process easy and convenient. You can buy an item or sell goods without going to a physical store.
Let’s find out the monetization model of popular marketplace Apps like OfferUp below.
1. Subscription Model
The majority of the marketplace apps and e-commerce platforms are using this model. These platforms take a commission from their listed items or products. Usually, people who use the app may have to buy the subscription package to use it often. These app owners can earn a good amount of money by taking a percentage or commission from their users whenever they sell or buy an item or product.
2. Transaction Fees
Some apps charge users for each transaction, but you have to buy them before you can use the app. For example, the platform charges a 5% fee on every sale or purchase when you purchase from eBay. Some apps even include a delivery cost as well.
3. Merchant Fees
Merchant fees are paid to the company or platform that lists your items and products for sale on their system. They take a percentage of what you earn from each transaction, which is another form of payment fee.
Some e-commerce platforms and shopping apps are using promotional ads to earn enough money to sustain their business. The sellers of such an app pay the website administrators a fixed amount of money for running advertisements on their platform.
5. Membership Fees
This is another popular revenue model that offers premium services at a cost. You can easily register for an account or get a membership through your app to use the upgraded feature and make a better profit.
Must-Have Features to Include In Your Mobile Application Like OfferUp
To get a similar app like OfferUp, your mobile application should have some essential features that your users would love to use. The following are a few examples of such features:
1. Easy Registration Process
You should make it easy to get a user to sign up at your app store. You can prompt users to get started when they open your app on the device or install it on their phones. This way, you also want to take advantage of the onboarding process, which is essential in gaining more customers.
2. Advance Search Filters
You can provide users with different search filters for their needs. For example, you can show custom categories to filter the items in the store so that people can find the items they are looking for. This will surely help them get what they want when they purchase your app.
3. Push Notifications
You can provide notifications to your users to stay updated with your services. You can send out the alerts through app notifications so that you can keep them informed of significant changes in case you have new offers or discount promotions in the app.
4. Checkout Options
Make sure to include various payment methods for them to be able to buy and sell things on your app store. They may want to use PayPal or even bank transfers for payments, but the app store owners need to make users feel comfortable using their apps too.
5. Buyer Protection
Ensure you include a buyer protection feature on your mobile application so that users feel comfortable contributing and making purchases from your app store.
For such features, hire dedicated mobile app developers to help you develop the app according to your requirements. They will also help you list new features to the marketplace so your users and customers can stay updated.
How Much Will It Cost to Create a Marketplace App Like OfferUp?
Creating a marketplace mobile app is not easy as you have to deal with many payments and sell/buy processes. The costing factor is very simple. Based on the complexity, technology, and the number of features, the cost of building an Offerup app varies. Prices increase as more features are added.
The approximate cost of developing an app like Offerup could be anywhere between $15k to $40k. Even the type and level of professionals you choose will define the charges and the complexity of development will determine the final cost. If you want to know the exact price feel free to contact us now.
Why should you choose us as your mobile app development company to develop an app like OfferUp?
We are one of the most reliable mobile app development companies for startups and entrepreneurs. We have helped many clients develop apps for their businesses. You can check out our portfolio to know more about our previous works. Our dedicated developers are very experienced in app development so that you can get the best apps you want to create for your business. We have gained a lot of experience working with local businesses so that your business can grow with us as we make better and more innovative apps every time.
Here is what you will get when you hire our mobile app developers
We also complete projects within budget and deadline that you want to fulfill in order to help maximize your ROI through the business growth through mobile applications. Our expert developers have the skills to offer bespoke mobile app development services to your business by ensuring that you get the best app for your business.
We have an experienced team of dedicated developers who can help you develop apps within budget as well. Our developers can also offer custom mobile apps to meet your company’s specific needs and goals if you need such apps. Even though our experts are well-versed in custom mobile application development, they are always ready to offer suggestions that can help enhance the user experience in your apps.
E-commerce is not possible without an app, and you can’t get the necessary features on a mobile application without help from the best mobile app developers. If you are looking for a reliable app development company to create an e-commerce app for your business, just like OfferUp, you can hire us now.
Our team of expert developers can build your custom mobile applications according to your specifications or needs. We have powered and helped many companies, which includes local businesses in the USA, to create their mobile apps. Our developers will help you design your app for maximum mobile users and make your business stand out from other businesses in the world. We will also offer guaranteed rates for your budget and deadline so that you can get the best quality apps that are affordable too.
Contact us today if you want to get a free quote for our services.
Frequently Asked Questions
1. Why do you need to hire a mobile application development company to help you develop an app?
2. How much will it cost to develop an app like OfferUp?
The approximate cost of developing an app like Offerup is anywhere between $10k to $15k. The cost may differ as per the features and the location. The price range is based on the tech stack, features, characteristics of the app, location, and development team involved. If you want to know the exact price feel free to contact us now.
3. Which is the best OfferUp-like app development company?
4. Where can I get more information about OfferUp-like app development services?
To know more about OfferUp-like app development services, get in touch with our dedicated app developers at email@example.com.