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The classified business also is known as a consumer to consumer (C2C) business. C2C is another category of e-commerce platform which allows consumers to behave like both customer and seller. Other e-commerce categories are business to business (B2B), Business to customer (B2C) and customer to business(C2B). A very good example of C2C business is classified ads in the newspaper. Where people publish an ad regarding an auction. Some of the famous classified apps like Olx are eBay, Craigslist, Quikr, Letgo, OfferUp and many more.
These top classified websites and apps gave the freedom to anyone to sign up and can start buying and selling on the website. C2C business is the best way to circulate the unregulated economy of the country. Unwanted stuff in the house could be useful for someone else and also it brings money with itself. And sometimes used products are available at such a reasonable price that there is no need to spend double the amount for the new product featuring the same qualities.
Analysys International estimates that the Chinese B2C and C2C online market will reach RMB 2,568 billion ($412 billion) with associated marketing spend of 48.87 billion RMB. Currently, Taobao generates 50,000 sales per minute as China’s biggest C2C mall. There are 242 million online shoppers spending $40,000 per second. 17% of online shoppers account for 47% of sales. There are 5million online shoppers and there are 146 million shoppers using a mobile connection. (source)
Key Features of Classified (C2C) Business
Here is a list of key features below. Have a look.
- Anyone can list a product or service for sale.
- Creating a listing is absolutely free.
- Paid options to enhance your listing.
- Customers can see product images and other product-related details without registering themselves.
- The customer can directly contact a seller.
- The consumer can buy products from multiple merchants.
- The same client can act as both buyers as well as a seller.
- Customers can directly contact sellers and do without an intermediary.
- There is a low transaction cost; a merchant can post their goods over the internet at a low rate far better than higher price of renting a place in a store.
- It is always available so that customers can have access to whenever they like to shopping.
- The classified marketplace will allow a buyer to search products by applying different filters such as; most popular product, bestseller, from your city and many more.
- Different sellers can bid on the products wishlist item listed by the different buyer. What they are looking for is so, that the buyer can get different best prices and offers from sellers.
- The social media linking features include community or forum discussion and blog or other social media website link interface.
- The back end interface of classified clone script includes features for admin to manage gallery setting, seller and buyer accounts, payment settings, etc.
- Customers selling products/services to other customers profit from the higher profitability that results from selling directly to one another.
Risk Involved in Classified Website Development Cost
Online classified websites are easy. Anyone can make an account easily and can start buying and selling right away. Before diving into the world of classified business there is a huge requirement to understand the risks involved in the classified website development cost. Here are some of them. Have a look at them.
- Reliability of The Information
In this technological world, there is no surprise if anyone releases their identity because of the virtual network. In e-commerce activity, e-commerce releases information in traditional media. Some people induced customers’ etiquettes in fraudulent activities. That’s why customers doubt the information available on the internet and lose their trust. It results in minimizing the enthusiasm to buy a product or service online.
- Trading Safety
There are some problems with property security and information security in the classified business. The problem of property security includes loss caused to a classified business because of various reasons like money stolen, the property is stolen, bank account or card details misused. And the problem of information security includes the risk of leak of any important information, total loss or temper of information such as losing trade information, illegally deleting or forging trade information, stealing trade secrets etc.
- Credibility of Subject
There is no boundation of morals and law in the electronic traction process. Sometimes sellers charge money from customers and do not provide services and sometimes unsatisfactory services provided by vendors. There have been opposite situations where buyers got good products or services and used the seller’s honesty. This type of customers execute their plans by changing the name or execute them by remaining anonymous or quit the market.
- Credential Stuffing
Stolen credentials like Id and passwords used in the credential stuffing to login into other websites. These bulk credentials are acquired by a massive data breach where the data is either published or sold out. Using the different IP address, bots attempt to login in the websites. Which hacks the company’s secret information, database and payment details. To block these bots here are some solutions
- Block all the bots recognised as suspicious bots by default to ensure the quality traffic.
- Set up partners with a particular user-agent to build an entrance whitelist.
- Challenge every website visit in opposition to a vast in-memory pattern database.
- Immediately recognise and block all the suspicious bots through artificial intelligence and machine learning tools.
- The last result is a complete minimization of credential stuffing attack extent.
- Performance of Website
At this time, reliable, fast and efficient user experience is critical for any classified site like Olx clone script. The volume of bad bots has been increasing enormously which badly affects the performance of the website and it also induces the valuable human resources of a business. According to research, the brute force attack bot can reach up to 30,000 in less than 10 minutes. Apart from the account data risk, this type of malicious activity increases the maintenance cost of the website as well as slower the website performance.
- Shill Bidding
Bad bots submit automated bidding in the auction. These bad bots submit the bid at the last possible time to get the lowest price. This process interrupts the process of natural bidding which results in lower revenues for auction houses. Some dishonest sellers use shill bidding bots to increase the price of an item. This process makes it difficult for a user to get a product at a reasonable price. To preserve these auction-based websites, there is a need to detect and block all the shill bidding bots so the auction process will be legitimate.
There are some other threats to classified website development. These are
- Disclosure of secret data.
- Passing or demolition of data.
- Mutation of data.
- Denial of services.
- Inaccuracy in software.
Disadvantages of Classified Website
If there is something good then there will be bad also. Below is a list of some disadvantages of the customer to customer (C2C) business.
- Fulfilment problems like shipping, delivery, mix-ups etc after the order is placed
- Security concerns
- Little Earning capacity
- No guarantee of product quality
- Product quality is suffered
- Fake products which lead to scams
- Lack of personal touch
- Question of security
- Fake communities created in the system
- No payment guarantee
Cost Analysis of Classified Website Development
The cost of any classified website development depends upon various factors such as the functionality you want, your requirements and on which platform you want to develop your website. There are many complications in apps like Olx, eBay, Quikr and many more. The Cost of building a multi-vendor website depends upon many factors like:
- Design expenses
- Hosting expenses
- Standard platform-based development
- Choice of platform
- Payment gateway integration and many more.
When it comes to designing a multi-vendor classified website like Olx the overall classified website development cost is difficult to decide. But on average, for designing a single web page the cost would be around $20 to $40. The average total cost will be around $12,000 to $18,000 depending upon the features explained above.
The classified business has come a long way with the emergence of the internet. Classified business is showing some unimaginable results and making progress with time. There is still a vast ocean of opportunities in classified business. Classified business is still a high margin and high-interest business for newcomers in the industry.
If you’re willing to develop a classified website like Quikr clone for your C2C business, BR Softech is the best, classified website development company that can provide you with the best solution to your problems. Our experienced and professional team of developers carries out the best out of the best solutions for our loyal customers. Give us a chance to prove ourselves and can live up to your expectations.
BR Softech Pvt. Ltd. excels in providing cost-effective IT Solutions. Established in August 2012 with over 10+ years of rich experience. An Apex rated IT serving company around the world. Our team of innovative and creative designers deals in web designing, and mobile game/software development intending to deliver outstanding digital outcomes.