Why and how should a buy-and-sell marketplace app like Letgo be developed?

“Live and let go” has been the motto of many of our lives for years we can’t remember. However, apps like Letgo have turned the way we used to get rid of our stuff into a money-making opportunity. Letgo is a buy-sell marketplace app that has earned the moniker of “the go-to app for selling your stuff.” It has served as motivation for entrepreneurs who want to create a marketplace application that solves potential problems for their target audience.

The app, which was founded in 2015 and is based in New York and Barcelona, offers services in over 40 languages. Let go, is a marketplace app that has over 100 million downloads and 200 million listings on average. Letgo’s success demonstrates how quickly the buy-and-sell local marketplace industry is expanding. Letgo is one of the most popular classified clone script, allowing users to easily list and find pre-owned items.

Reasons, why users adore Letgo and entrepreneurs, aspire to create a similar app

Successful selling: The Letgo Clone marketplace platform follows a few rules to ensure that everything a user lists on the app is successfully sold out. Letgo, for example, is all about product fly pages with images and text so that users can browse, check out, and click on a relevant fly page (i.e. product images with a short description). As a result, it advises sellers to work on the photo and make it both appealing and informative.

Communication between the seller and the buyer in the app is another feature that helps a user’s deal go smoothly quickly. Letgo, an online marketplace, has an in-built chat feature that can use to specify all of the necessary details for both parties. Furthermore, users can conveniently discuss and schedule meetings within the app.

Letgo has included a search option in the functionality that allows buyers to find items by their names or categories, as well as the regions in which they are available. Sellers can also list their items using names and categories that buyers would use to search for them.

Use of Google Maps in a modern way: The Letgo buyers and sellers marketplace app has taken advantage of another feature that benefits users: geotagging. The proximity radius in a seller’s listing can be changed to show products available near the customer. Letgo makes use of the Google Maps service, which provides easy-to-use and detailed maps for various regions.

Useful personalization: When developing a marketplace mobile app, you can’t overlook the user personalization elements used by Letgo to boost user engagement. These are examples of such elements:

Localizations: If you want to expand your project to other countries, you’ll need to consider language support; Letgo is available in over five different languages, including English, Spanish, Italian, Turkish, Czech, and others. It adds a personal touch to users’ experiences and encourages them to use your app to sell and buy locally.

Push notifications: It’s a convenient way for users to stay up to date on the app’s new content. However, you should be aware that neither Apple nor Google guarantees that every push notification will be delivered. As a result, you should think about other ways to keep users up to date on the latest app updates. Email, text messages, or news feeds are all possibilities.

social media ad localization refers to the set of processes and operations necessary to make an audiovisual product for target audience A in a country available for target audience B in another country.

You must see this if you are concerned about the scope of your business in the local marketplace.

According to a Statista report, global retail eCommerce sales totaled USD3.53 trillion in 2019, with revenues from e-commerce expected to reach USD6.54 trillion by 2022.

According to Market.us, the number of digital buyers reached 2 billion in 2019, with a 65 percent increase expected by 2021.

Platforms like Etsy, Airbnb, Letgo, eBay, and others have fueled the growth of customer-to-customer (C2C) marketplaces. With new local sellers, Amazon is becoming more of a C2C platform.

You might believe that the chances of creating a new C2C platform like Letgo are slim because there are already so many. But keep in mind that you will always have a “niche.” For example, for ride-sharing and earning, BlaBlaCar and Lyft, and for writers, Wattpad, a platform that allows them to read, publish, and buy books online.

Now that you’re interested in developing a marketplace app like Letgo for your company, let us share some information with you. Such information is far more valuable than hiring mobile app developers or an on-demand app development firm. It’s a rule that every app developer should follow. Can’t wait any longer? Let’s get started right away.

Make an app similar to Letgo.

Theory for developing a marketplace app like Letgo in the pre-development stage

Letgo is built on the foundation of a concept called Letgo.

LetGo is a platform that connects people who have used items to sell with people who are ready to buy them. This makes it easier for them to make a peer-to-peer transaction. Meanwhile, the app’s ease of use and convenience increase the user value of the service, which Letgo achieves by using Artificial Intelligence to automate some of its processes.

• When a seller takes a picture of a TV to sell on Letgo, for example, the app’s artificial intelligence:
• Scans the image and determines the type of television.
• Creates the ad’s headline and gives a brief description of the product.
• Based on the history of related transactions, it suggests a price for the product.

The automation saves the seller 15 to 30 minutes in terms of writing a brief and determining the product’s competitive price. It also assists with a photo and confirmation of publication for an advertisement, which reduces the seller’s other two actions. As a result, the Letgo app streamlines the selling process for sellers who want to attract more buyers.

Business Plan

The Letgo marketplace app’s business and operating model is centered on buying and selling used goods. Instead of messages, the system displays fly pages of products, similar to a Craigslist message board. The system displays sellers’ ads to buyers within a 50-mile radius, increasing the likelihood of successful transactions.

Unlike Craigslist, Letgo allows all products and regions to post free ads. It prioritizes listings based on their relevance, proximity to the user, and previous searches and purchases.

Although you cannot sell or buy services in the Letgo marketplace app, you can sell and buy goods

Putting everything in the right place in a business flow can be difficult and frightening. You’re constantly concerned that none of the details are overlooked. As a result, smart business owners use the Lean Canvas Model-One Page Business Model. It enables you to evenly place and dominate each business aspect on a single page.

App Monetization (How does Letgo make money?)

Premium feature: Bump Up

Letgo offers a premium feature that highlights an ad and displays it above the standard search results. It charges sellers $2 to place an item at the top of the page for 24 hours in order to draw more attention to it.

Pro version of Letgo:

It’s a feature designed specifically for auto dealers to gain competitive visibility on the app. It enables dealers to obtain more local leads with minimal effort. Letgo syncs and imports their ads, add click-to-call to all of them, and sends ready-to-buy leads straight to the dealership! The cost of the facility begins at $99, with a 30-day free trial.

You should think about the following features of the Letgo app:

For your own marketplace app, incorporating Letgo’s existing functionality into your product requirements document can be beneficial. To stand out from the crowd, you’ll need to think about their flaws and come up with unique features that only your app will have.

Consider the unique artificial intelligence capabilities of LetGo during the wireframe, prototype, and development stages. The publication of announcements is streamlined and accelerate thanks to an image recognition system, built-in chat, and video listing. Other features to think about when developing a marketplace app like Letgo are:

Sign up/log in with your social media account:

The majority of today’s marketplace applications include features for registering with an email address, phone number, or social media account.

Listing of advertisements:

LetGo creates ads automatically using Artificial Intelligence and image recognition. Furthermore, it enables sellers to use short videos in the app. You can do the same thing.

Comparison of Products and Prices:

Users can use this feature to find products that fit their budget and make more informed decisions.

Location:

By bringing both parties within a 50-mile radius of each other, Because LetGo’s GPS integration improves the relevancy of listings.

Support for multiple currencies and languages:

Letgo operates in a number of countries, which necessitates the support of multiple languages and currencies, just as your app does (if you intend to expand it to that level)

Camera built-in:

It’s a crucial feature that allows sellers to click photos and instantly add them to ads. User engagement is greatly enhance by the ability to edit photos, resize them, and adjust the brightness and contrast.

Integrated chat:

The feature streamlines buyer-seller communication and allows users to discuss transaction details within the app.

Reviews and ratings:

It allows users to build a reputation in order to protect other buyers from shady sellers, and vice versa.

Offers and recommendations:

You can provide contextual offers and recommendations based on a user’s previous activity or search queries. If you charge for this list, you can generate additional revenue.

Recognition of images:

The feature can use to suggest how to classify a product, as well as product prices and descriptions.

System of payment:

To provide a smooth payment process, but multiple payment gateways is require. To use popular payment gateways in the desired region, you must first research the local market, your competitors, and the relevant legislation.