If you are looking for a business idea to start online, we have an amazing option: a peer-to-peer marketplace. P2P marketplaces connect service providers and customers worldwide. You are probably already familiar with such a service—who hasn’t used Airbnb at least once?
In this article, we will tell how to build a P2P marketplace platform and what key functionalities to include to succeed in the P2P market.
2. The main advertisement for P2P marketplaces is the user’s trust. Ensure high standards of quality and security, because the success of your resource directly depends on the transparency of user communication.
3. P2P marketplaces is a promising niche that will allow you to realize an unexpected idea. However, careful and thoughtful execution at the development stage is necessary.
4. Don’t underestimate the introduction of new features: advanced search, AI assistance and a recommendation system on your site will do a great job.
5. Don’t hesitate to discuss your idea with your digital solution vendor—the more thoughtful the development, the better your chances of standing out from the competition.
What is a P2P Marketplace?
In the eCommerce field, a P2P marketplace is a decentralized platform where customers can directly interact with each other without the involvement of third-parties. Sometimes P2P stands for person-to-person, point-to-point, people-to-people, peer-to-peer.
Okay, but why do users need a peer-to-peer website at all? Why not make a purchase or transaction directly, for example via messenger or email?
With such a makeshift approach both parties take risks—the seller cannot give any guarantees about quality or delivery of goods, and the buyer may not pay for it. P2P platforms in this case act as a market where buyers and sellers connect as well as guarantors of transactions. They take responsibility for monitoring compliance with site rules, provide secured payments and additional information confirming the reliability of both the seller and the buyer.
P2P vs C2C: What is the Difference?
ECommerce industry also has a C2C (Consumer-to-Consumer) business direction, which at first glance seems to be identical to P2P marketplaces. However, the main difference lies in the model of communication between users.
P2P Marketplaces | C2C Marketplaces | |
---|---|---|
Definition | Peer-to-peer deals; each participant has the same level of options and can interchange the roles within platform | Customer-to-customer deals; users can choose either a seller or buyer role |
Platform role | Counterparties interact with each other directly on the platform without involving additional services (or involving after request) | Platform is a third party in the transaction between users, can provide additional services: delivery, storage and packaging of goods, etc. |
Revenue model | Charges a commission for each completed transaction | Charges sellers with a commission for showcasing the product and for each sold item |
Examples | Airbnb, Uber, Upwork, TaskRabbit | Etsy, Craigslist, Amazon Marketplace, OLX |
To summarize, P2P and C2C marketplaces both offer direct transactions between buyers and sellers, the key difference is the presence of an intermediary platform.
P2P marketplace platform is more focused on direct user interaction, while C2C acts as a third party providing value-added services.
Read more: B2B vs B2C: Leveraging Key Differences and Merging Opportunities
Types of Peer-to-Peer Marketplaces With Examples
It is safe to say that in the matter of niche solutions peer-to-peer eCommerce is developing quite fast nowadays.
P2P marketplaces are able to fulfill specific customer needs. Tired of the complexities or inaccuracies that may appear on more “traditional” eCommerce marketplaces, consumers seek each other’s opinion and advice. On this demand for honesty, a supply emerged, which then transformed into P2P marketplaces.
Let’s take a look at some common types of marketplaces with examples for a more detailed understanding of the P2P market at the moment.
Peer to Peer Sharing Platforms
Economy has long tasted the convenience of sharing services, where consumers have been able to rent instead of making expensive purchases.
This is the key idea that accompanies peer-to-peer sharing platforms, where each marketplace is able to meet the needs of customers in different niches.
For example, BlaBlaCar is a French based P2P marketplace platform where people can connect to share a long ride as driver and passenger. Trip is paid in advance after the driver accepts the passenger. Then the platform charges a commission based on the total cost of the trip.
Airbnb, being a peer-to-peer rental marketplace, works by the same logic, but solving housing issues rather than transportation. Airbnb comes to the rescue with hundreds of offers to rent or share a room from the landlords themselves.
CSI Rentals is a one-stop store for selling as well as renting photo and video/movie equipment. The site also features a reservation system.
Peer to Peer Services
The possibilities of peer-to-peer marketing extend even to the provision of services. Favors and skills can be successfully exchanged, so it’s no wonder that this type of marketplaces has quickly taken its own niche.
The most illustrative example will be TaskRabbit—a two-sided peer-to-peer marketplace platform where users can post tasks and find “TaskRabbits” with the necessary skills. The platform takes the responsibility to verify the credibility of all doers: their qualifications, documents, and so on. Moreover, the platform guarantees reimbursement of damages in case provided service causes damage.
Another example, which you’ve probably used at least once in your life, would be Uber. Passengers can get a fast service from verified taxi drivers, and the platform helps them connect with each other.
Peer to Peer Products
Peer-to-peer marketplaces may look like more familiar B2C marketplaces. Except that it’s the users who post the goods or adverts to find the needed product.
Flagship of peer-to-peer trading is eBay, where people can buy and sell goods directly from each other. Range of items applies to almost everything from collectibles and homemade goods to used electronics and clothing. Thus, the marketplace creates an opportunity to set your own prices and do business on your own terms.
Craftland is more than a platform, but rather a community of handmakers. The platform was created to help creators to present their hand-made products.
Peer to Peer Crowdfunding
Crowdfunding has become an integral part of peer-to-peer marketing. If users believe in the idea, they are ready to support it financially. Creators get a unique chance to launch their product without depending on big investors and build a marketing strategy on their own.
The well-known Kickstarter platform is one of examples. Users post their projects at varying degrees of readiness, from first concepts to actual prototype, share information about them and ask for necessary support. Other users, backers, are considering whether they are willing to support the project by donations. Platform takes from 3% to 5% of the total amount collected, as well as a commission for payment processing.
Indiegogo works on a similar principle. Here users raise funds to support an idea, charity or startup. The size and principle of commission collection are practically the same.
Why Choose a P2P Marketplace As Your eCommerce Business?
It is enough to look at Uber’s success: more than 90 million users in the world and a leading position among P2P marketplaces.
Peer-to-peer eCommerce is one of the most profitable directions in the industry. Let’s review useful statistics on P2P eCommerce for your business.
P2P Marketplaces Statistic And Trends
Global share of peer-to-peer marketplaces is valued at $1,526.2 million in 2024. According to expert forecasts, the escalating growth rate for the next ten years is 18.7%, and by 2034, the global share of peer-to-peer marketplaces will reach $8,474.8 million.
Estimated P2P Market Size in 2024 | $1,526.2 million |
Projected P2P Market Value in 2034 | $8,474.8 million |
Value-based CAGR* from 2024 to 2034 | 18.7% |
Growth dynamics are supported by a general shift in technological progress towards human communication (consumers trust influencers more than brands; more often turn to real reviews when searching for products, etc.), as well as changing preferences. The model of renting space, services or tools, and collaborative consumption is gradually gaining momentum, where P2P marketplaces are a direct participant.
At the moment, the leaders in terms of revenue in the P2P segment are six countries: United States, Germany, Japan, China, Australia and New Zealand.
Countries | Forecast CAGRs from 2024 to 2034 |
---|---|
United States | 15.6% |
Germany | 5.2% |
Japan | 5.5% |
China | 19.2% |
Australia & New Zealand | 22.2% |
In China, mobile payments like Alipay and WeChat Pay are most prevalent, which simplifies transactions on P2P marketplaces. And the culture of sharing and community in Australia & New Zealand condones the widespread adoption of peer-to-peer resources. In America, peer-to-peer marketplaces have reached a mature stage, forming a permanent niche that will only grow in the future.
Consumers are increasingly turning to P2P marketplaces due to the ability to find specific products or unique offers that may not be available through traditional retail channels.
The P2P market is keeping pace with their B2C and C2C counterparts by providing accessible shopping experiences, user-friendly mobile apps and friendly interfaces. These are the key trends to look out for when developing a P2P marketplace.
Simtech Development will help you create a user-friendly P2P platform with feature-rich custom solutions. Want to fully focus on business ideas and entrust the technical part to proven specialists?
Top 5 Reasons to Start a P2P Marketplace
Still, have doubts about whether you should launch a P2P marketplace? Take a look at these reasons telling why it is a good idea to start a peer-to-peer business.
Doesn’t Require Big Investments
Of course, creating eCommerce solutions will always be an expensive process. However, developing peer-to-peer marketplace software is free from pricey elements inherent in B2C, B2B and other areas.
You don’t need to create a warehousing system and implement a delivery service. Sellers stock their goods themselves, doers provide services for clients, and so on. This leaves you with additional funds that can be redirected to other business needs.
Moreover, you can test the project at the idea stage and get feedback by starting with building an MVP (Minimal Viable Product).
Work With Trust, Not Ads
Peer-to-peer marketplace is that rare resource that is able to earn a reputation not through expensive advertising campaigns, but through word-of-mouth.
Here the main determinant of success is trust, and trust helps earn good reviews and sharing. You can focus on the service quality of your platform by turning it into a friendly community where people share honest opinions and support each other.
By making your P2P marketplace accessible to sellers, you give them a proven platform to run their small business. Both you and the sellers (or service providers) have the same interest in staying on the platform as long as possible. Consequently, your communication is very different from the “come in and buy a product” logic, which is sometimes limited to a single purchase.
Bridging the Gaps
Large B2C or C2C eCommerce entrepreneurs can’t close all specific niche customer needs. P2P marketplaces work great where conventional ways of doing business simply don’t work. This is the reason why P2P rental marketplaces are so popular, providing a more personalized and convenient approach.
Moreover, an abundance of marketing campaigns is increasingly introducing things like fake reviews and biased sponsored ads from role models. The P2P segment is focused on listening to each other and this transparent approach appeals to consumers in an age where the veracity of information is increasingly difficult to discern.
Peer-to-Peer Marketplace Building
Get scared just by thinking you need to code the whole project from scratch? Luckily, peer-to-peer marketplace technology is so advanced that you can find a ready-to-use solution tailored to your needs.
For example, Simtech Development is a certified partner of CS-Cart, developer of scalable end-to-end eCommerce solutions that will fit most business models. Flexibility of this solution is achieved through installing various features, ultimately turning the software into a useful business instrument.
So if you find that your business needs fit within the capabilities of an off-the-shelf solution, it can be a great choice that requires less time and resources than building from scratch.
Change the Rules
If you come to the eCommerce market with an innovative idea, the standard approach of working with customers will immediately force you to consider a lot of risks. Traditional commerce is more used to linear approaches that have been tried and tested for years. You might find your niche, you might not—most often the statistics fall on the latter side when it comes to something that didn’t exist before.
Peer-to-peer selling itself is a fresh approach, so the audience is prepared in advance, not skeptical about new solutions. These platforms have already fundamentally changed the way business is done, so when you introduce a new business idea, you don’t have to panic about its profitability.
How to Build a Peer-to-Peer Marketplace Website?
What needs should P2P marketplace software meet? Although the peer-to-peer approach in eCommerce wasn’t born yesterday, to answer this question you need a deep understanding of your target community.
The second question will be the choice of development approach. How to build a peer-to-peer marketplace website: from scratch or using an out-of-the-box solution? You get the answer after considering the desired number of exclusive features and the chosen niche.
Regardless of the choice you make, you need to know about the most basic steps in developing a peer-to-peer marketplace, so let’s talk about them.
Plan and Research
We all know any business project starts with researching and proper planning. At this stage, you need to study some basics. First, define the niche you want to be presented in. Next, determine your target audience.
The market you are choosing and the target audience are interconnected. The gap in the market will help you identify what customers lack, and the needs and pains of buyers will help to structurize an offer.
Don’t forget about competitors. Test their platforms and evaluate the functionality. Is there anything you can perform better?
Establish a P2P Marketplace Idea
This step is needed to make sure your idea is solving client’s problems and makes it better than other similar solutions. Only when a P2P marketplace meets the needs of buyers and sellers can it succeed.
The biggest challenge is that you have to think for both buyers and service providers. For example, there might be a lot of sellers willing to display their products or services on the marketplace for purchase. Yet, it may be more convenient for buyers to rent this type of product instead of buying it.
At this stage as well you with your team will determine what business segment you will work in, choose a commission model, the technology stack or find a ready P2P marketplace software.
Choosing a P2P Business Model
A business model you choose should satisfy every party involved; you as an owner, buyers, and sellers. To define what business model suits your P2P marketplace check out strategies of local and global platforms and evaluate what works the best.
There are several popular P2P business models you can apply:
- Сommission model, where a P2P eCommerce platform charges sellers for each transaction made.
- Subscription model is another popular model where users pay monthly or yearly to access the service of the platform.
- Advertising model is about displaying an advertisement on the platform and charging creators for their placement. Can be used as a separate monetization model or added to another option.
- Freemium model grants access to users free of charge. Still, they need to pay if they want to use premium and advanced features. For example, promote the products in the list, or use additional analytical tools.
- Listing model is easy to follow and more transparent as you charge sellers for each product ad posted.
One of the greatest advantages here is flexibility. You can mix and match different options on your marketplace.
Read more: Navigating Marketplace Business Models: A Comprehensive Guide for Entrepreneurs
Architecture Design
After you defined the idea, made research, and determined the niche you can move on to building marketplace platform stage. But to make it simpler, we recommend creating an architecture of the software.
The designing architecture will help to create a complete structure of the P2P website, identify all sections of the marketplace, understand the interaction between users, define the technology stack and functionality set.
For this, you need to hire a software architect. But with the project scope, it will be much easier to move on to the development stage.
Build an MVP
Here we come to the P2P marketplace development phase. But instead of diving into the complicated processes of programming and all the challenges that come along with building a platform from scratch, you can do the minimum and create an MVP.
It is the first version of the project you are creating. Your goal is to provide a certain value to the users and demonstrate the product to them. Users will be able to try the P2P marketplace and provide feedback. Considering their experience and reviews you on the other hand can create a road map or further improvements and scale the product.
It is a common tactic to use an MVP to attract investors. Include the basic functionality to visualize the project and show its potential. Later you can grow the platform and add more advanced features.
To build an MVP you will need to hire a development team: software developers, QA engineers, and project managers.
Further Improvements and Updates
Software development is always a never-ending process of improvements and updates. After the MVP is ready, it is time to collect reviews.
Users of the P2P website are live indicators of any issues and problems on the platforms. Their feedback should be used as the basis for further improvements.
Don’t focus on fixing the bugs, but try to expand the functionality. What to include in the basic set of functions we explain in the next section.
Read more:
- How to Launch a D2C eCommerce website
- B2C Marketplaces: Exploring Launch Stages And Business Prospects
Key Functionality For a Successful P2P Marketplace
First of all, we’ll talk about navigation on your P2P platform, where every step a buyer or seller takes through determines the overall perception of your services. Then we will come to the concepts of security and how P2P marketplaces interact with local legislation.
Profiles
Users need to have a personal profile page where they can list all the required information, get access to settings, and use it as the priority point for engagement on the platform.
A seller or doer profile can include a photo, current location, contact information, skill level, and even a history of recent work or products sold. In this way, transparency and accessibility of information will have a positive impact on the visitors’ reliance, as they will not have to doubt who exactly they are going to communicate with.
Make sure to differentiate the profiles for sellers and buyers. Two user categories require a different set of features.
Product or Showcase Page
Product or service demonstration pages serve as the main communication tool between your P2P platform and users, so overall design should be user-friendly and responsive. What this means: quick and clear display of products, videos, customer reviews and ratings. Of course, information on pricing, shipping or pickup options, and quick communication with the seller.
The look and performance of these pages directly affect sales.
Search Navigation
For users, it is necessary to quickly find the product they are looking for. If you focus on physical items, enable search by tags, categories, and price and include as many filters as possible. If this is a P2P rental marketplace make sure there is a search by location.
It is important to build a convenient and structural categorization.
Online Payments
What factors build trust around your P2P marketplace? The first thing that comes to mind is secure payments. Fortunately, there are so many options today, you can just select the one that corresponds with the legislation of your country.
Payment gateways can be easily implemented into your platform. This way you do not need to build a custom solution.
Admin Panel
A professional panel for administrators is a space where they can monitor sales and transactions, manage products, update content, and access statistical instruments.
A powerful admin panel makes sure your users have the best experience and can manage their store with an advanced set of professional tools.
Reviews
This particular feature is vital for building trust among users. For P2P marketplaces this is especially important, as people interact with each other directly with no third parties involved.
Allowing users to leave reviews, provides them with the freedom to share their experiences. Other customers can learn from them. This is very helpful for purchase decision-making.
For sellers, it is an opportunity to work on issues and provide better service.
Communication Tools
The key point of P2P marketplaces is direct interaction. Buyers and sellers will be communicating with each other independently. Your task is to implement instruments for convenient communication. You can integrate a messaging service. Pay attention to its support of multiple conversations at once.
Besides this, it is important to enable notifications so users can receive timely updates.
Security and Trust Mechanisms in P2P Marketplaces
P2P marketplaces depend on a good reputation, and the right security measures can ensure it. Therefore, one of the fundamental elements of P2P website security is the identity verification process.
Providers of goods or services must have valid identity documents and undergo verification before operating on a peer-to-peer platform. Given that this is personal data, the first thing to think about is a way to protect and quickly get the user’s account back if it is lost or stolen. You can include a two-factor authentication (2FA) system for that case.
The second step is to deploy an escrow system on your platform. This system allows you to hold the funds paying for a transaction until the service is performed or the goods are delivered.
Keep in mind that no matter what precautions you take, disputes between buyers and sellers will arise anyway. Your goal is to create a mechanism for resolving disputes between buyer and seller as transparently as possible. Define a process for handling disputes or assign specialists to resolve issues promptly.
Compliance and Legal Considerations for P2P Marketplaces
Due to the fact that P2P marketplaces are focused on the interaction between users, this process is accompanied by some legal nuances. Therefore, at the initial stage of business, you will face the need of complying with regulations related to:
- Legal and regulatory considerations
- Business registration and licensing
- Consumer protection laws
- Intellectual property
- Data privacy and security
- Tax obligations
- Insurance coverage
Often B2C or C2C businesses already know what to do as customer information is held on their servers, but with P2P services things are a little different, which means the legal nuances vary depending on the country where your business is based.
This is why for peer-to-peer sites, unfortunately, there is no one-size-fits-all way to take everything into account at once. P2P business owners should hire a legal professional to navigate within laws.
Technology Stack for Building a P2P Marketplace
Choosing the right technology stack for your P2P online resource depends primarily on your business needs and budget. Of course, it is best to think about the expansion at the developing stage although business owners often forget about this. Besides, reliability is one of the key parameters.
We mentioned it above—there are two main based approaches to choosing a technology stack for any eCommerce site: individual development and using existing frameworks or platforms. Each of them has its pros and cons, let’s compare them.
Developing From Scratch | Out-of-the-box Solution | |
---|---|---|
Customization | Opens up the possibility of complete customization, fully adjusting to the business request | Most are limited in customization capabilities, but open code nature may eliminate the limits |
Scalability | Given a customized approach, the platform can be designed with scalability in mind | Some solutions may not coordinate with rapid business growth and may require rework |
Complexity | Development process is quite difficult, accompanied by potential implementation issues | Readiness of the solution allows it to be deployed faster, reducing time-to-market cost |
Resources | Development requires a large investment of resources, including time, money and hiring additional specialists | Due to the absence of custom development, less resources and time are spent, all technical issues are left to the vendor |
Add-ons implementation | Developing add-ons for a unique platform is a resource-intensive process, but the enhancements are more unique, setting your business apart from the competitors | Unique enhancements are also possible, and there is a wide range of pre-built features as well |
Reliance | Fully custom solution relies mostly on internal development team | Dependency on vendor in terms of tech support, getting upgrades and maintenance |
So, if you realize that your business will not be satisfied with out-of-the-box solutions available on the market, then developing from scratch may be the best approach. In this case, you can customize every aspect, but keep in mind that it will require much more time and resources.
Out-of-the-box solution allows you to deploy an eCommerce business faster, within a few months, and you also don’t lose the ability to customize. However, keep in mind that out-of-the-box P2P marketplace software is not a one-size-fits-all tool as your business grows, you’ll need to build in new tools.
Read more: A Complete Guide to B2B eCommerce Development
Challenges of Peer-to-Peer Marketplaces
Peer-to-peer business is definitely an innovative approach in the eCommerce field that can present itself in a variety of ways. Taking the right niche at the right time, your business can confidently establish itself in it for a long period of time without losing people’s demand. And as promising as it is, there are some downsides to owning a P2P marketplace.
Too Much Emphasis on the Idea
Innovation, new ideas—sounds awesome. Along with this, the temptation to act quickly and launch an incompletely formed product into the marketplace may be great. Despite some leeway for P2P businesses, your offering still needs to solve user problems and respond to a truly relevant request. Therefore, first and foremost, think through a proper business plan.
Legal and Regulatory Regulations
P2P marketplaces often operate in a regulatory gray area, which comes with constant spending on legal experts. These include complying with local regulations, including taxation, licensing, and consumer protection.
Maintaining Quality Standards
This is a biggest layer of the problem for P2P marketplaces. Peer-to-peer communication between users doesn’t deprive the business owner of the responsibility for quality control. Sometimes maintaining such standards for P2P marketplaces can be a challenge.
Entrepreneurs need robust systems to verify the reliability of sellers, as well as open display of feedback and reviews to build user trust.
Reaching a Critical Mass of Users
P2P markets don’t operate in the “red ocean” strategy, but resources that provide services, rentals, and goods have been around long enough that users have become accustomed to them.
Your business will face the question of creating an effective strategy for attracting the first users, and subsequently creating a critical mass of users. Reaching this point will be the key to the success of your P2P marketplace.
How to Minimize Risks in Building a P2P Marketplace
Every business owner would like to minimize risks when building a new product. With P2P marketplaces it is the same. So to prevent yourself from possible risks we suggest doing the following:
Find a Real Problem
If you want your marketplace to succeed, find a real problem that you can address. For this, research the target audience, identify customers’ pains and understand whether your platform will be useful in solving these issues.
It is not only about the range of products or services you will display in the store, but more about functionality. Your P2P marketplace should become an indispensable tool for customers to solve a particular problem. Use social media for research and to communicate with potential customers. Social media platforms are a perfect space to know your clients and their problems better.
Define the Narrow Focus
The biggest problem of any marketplace is that the owner often tries to please everyone. Running for a greater number of customers, they lose focus and chase universality. It is not what buyers like today.
After you find the pain points of your customers, narrow the focus and concentrate on something specific. That will enable you to provide better service and good quality.
For instance, you learned that there is a gap in the automotive market, namely with auto parts. Go deeper and find what it is that is exactly missing. Maybe there is a problem finding auto parts for particular car models, so you can connect owners of specific auto brands.
Be Quick to Attract the First Users
Start attracting users at the very beginning of the project. There are so many tools that you can use to warm up the audience. Launch some advertising campaigns beforehand. Create a catchy landing page where you will announce the launch of the platform. Introduce potential customers to the concept of the marketplace and create some interesting offers. Everyone likes freebies and discounts. So make sure to offer something valuable to first buyers.
Later they will help you by spreading the word and promoting your store to their family and friends.
Optimize User Experience
Every feature of a P2P eCommerce site has to bring value to its users. The platform should be reliable, simple to use, and secure.
To improve user experience add some advanced features that will help to put orders in place. Make it all consistent and visually appealing.
If you are not sure what to include aside from basic functions, push off the niche. For P2P rental sites integrate a map with good navigation.
Scaling and Fundraising
Anything is possible in the era of technology. Apple and Airbnb’s success motivates startups, not to bury the idea, but to find those who would believe in it.
Today people are ready to invest resources in those who create and produce. Pack your idea into a good-selling presentation and win over those investors.
First, you can prepare a forecast and calculate some numbers, evaluate the potential profit you’ll get from the project. Once the MVP is on the table, it will be easier to attract third parties to invest in the project.
Another important thing to consider is the scalability of the marketplace. The growth of the platform is something that comes with time. So prepare yourself for the future and make sure you have the tools and resources to scale up the project.
How Much Does it Cost to Build a Peer-to-Peer Marketplace?
Probably, this is the most common question we get. Funding and budgeting are the key factors that define the destiny of the project. If there is no money, there are almost no chances the project will be launched. At least not in a short time.
So how much should you spend to develop a successful P2P commerce platform today?
Let’s say that the overall cost may vary from $30k to $150k. It depends on the market: from country to country there are completely different pay rates. For instance, somewhere in Central Asia, you will spend an average of $20 per hour for the developer’s work, in Europe, the cost starts from $50, in the USA it is even higher and can reach $150 per hour.
According to our experience, the MVP development process can take about 2 months = 42 working days. Considering the fact that there are real professionals with great specifications on the team. 42 days, 8 hours of work per day, and an average rate of $50 per hour. It is already more than $16k, and it is just one specialist.
Of course, the cost of a peer-to-peer site depends on many factors. What if you decide to use a ready-made solution? In this case, we will be talking about different numbers.
That is why validating the idea and attracting investors help a lot to set the trajectory of the project.
What Future Holds for P2P Marketplaces?
The eCommerce marketplaces has long been a fixture in the lives of both regular customers and those who want to try their hand at business. P2P marketplaces are quite a sought-after niche, given that brands in this segment are looking to build trusted relationships with their users, thus gaining a competitive advantage.
Based on the statistics above and the experience of our clients, we can definitely say that P2P marketplaces will increase their presence. P2P retailers need to continue expanding functionality of their sites, add new search capabilities based on artificial intelligence and recommendation systems.
To Sum Up
P2P eCommerce is a rapidly growing segment. Choosing this direction you are choosing the printable business model.
As for the development, there are many options you can follow: build the product from scratch, use a ready-made solution, or use a combination of both. Everything depends on your needs and resources.
If you need help determining the next phases of project development, feel free to contact us!