Marketplace apps have carved out a separate game in the online business stratosphere in every arena- retail, travel, or any other service based marketplace apps. The travel niche, in particular, is much more promising than it may currently seem.
In 2023, the travel apps market showed a revenue of approximately $629 billion. Now, this is one promising market to break into. What makes it interesting is that in the travel niche, people are usually looking to save money. An app called Hopper, in particular, has hit the 35 million downloads mark in 2023, solely based on this exact business model.
As someone looking to enter the travel space with an app similar to Hopper, you might wonder about the costs involved for the same, apart from hiring the best developers, of course. But worry not, we have brought together everything you need to know about building such an app, along with the costs involved in this blog.
Read ahead to break into the travel niche with an absolutely amazing marketplace app!
Need For An Online Marketplace App For Travel In 2024
Travel is the luxury of the hour in the post-pandemic era. It was also one of the hardest hit during the pandemic. Currently, it is on a steady rise- especially with the prevalence of the “digital-first” traveler. Digital-first travelers prefer everything to be on their smartphones- from flight and taxi booking, to hotel check-ins.
- Niche travelers can be better targeted on a digital platform.
Suppose you wish to cater to only family-friendly travelers, you can develop an app for that. Or, the better idea would be to cater to all sorts of travelers in one sole app. This means a larger audience for your app, as well as potential for higher ROI.
- From business travel to solo travelers, country-based or international, the possibilities are endless.
All you have to do is understand what experiences people seek, and then collaborate with businesses that are the top choices for the same.
As for the app development part- you’ll want to hire the best mobile app developers who understand the intent and goals of your app, and also personalize the experience for users.
This huge potential makes you wish to take a bite off of this cake, isn’t it? It makes perfect sense to invest in emerging tech, and use frameworks like Flutter to develop an app that caters to the people in their travel space.
How Does Hopper Work?
Up until now, Hopper has had about 75 million travels scheduled, and all while using AI to better users’ experiences. It allows you to book hotels, flights and cabs, all through the platform. The app uses an AI algorithm to predict prices, and suggests users to book instantly, or wait for the perfect time, to save some money.
This has led to more people hopping on to (pun intended) the app and save some money on their travel adventures. Here’s how it works:
● Hopper skims data to get the best and lowest prices for flights, hotels, and cabs for its users.
● It also gets to know future price predictions and notifies the users, so that they can book at the best time and save some money.
● The app also allows users to freeze the best deals, with refundable, as well as flexible payment options.
Well, guess now we understand the hype about this app among travelers. With the travel space now looking forward to catering to all classes of travelers, everyone is hoping to tap into the potential with a similar app. If you’re one of those people, here’s a breakdown of what you will need to do to break into travel with a marketplace app similar to Hopper.
A Step-By-Step Breakdown To Develop An App Similar To Hopper
An app that encompasses all aspects of traveling, is easy to navigate, as well as ropes in good revenue for the makers, might seem like a lot of work in its developmental stages, but with a clear plan, all of this can be directed to develop a great marketplace app for travel.
Here’s a rather straightforward list of things that you need to be doing right now to break into that travel space:
● Market Research
Do your diligence. In the world of online business apps, understanding your target audience is one of the most crucial things to do in the initial stages. Decide if there is a specific type of traveler that you wish to target- business travelers, family oriented travelers, or adventure seekers, to get started. Focus on how you can appeal to each of these travelers, in terms of budget, as well as the full experience. Also, identifying the gaps in the existing marketplace apps that cater to travel can inspire you to target more audience, as well as retain them.
● Monetization Model
There are a few things to take care of before you start the development phase. Monetization is one of them. Choose your monetization type- paid advertising, in-app purchases, or other. Make sure to adhere to financial guidelines and data security, since such an app will involve a number of transactions and data processing.
● Developer Hiring
Time to get the party started. Now is when you have a clear idea of your goals, business intent, and your audience, and perhaps the framework that you wish to build your app upon, now is when you can either outsource the entire development process to a development agency or company, or, you can hire niche developers who can translate your ideas into a great business product.
Suppose you decide to choose Flutter as the framework for your app, you’ll need to hire Flutter developers who are seasoned and understand your app’s intent.
● Develop A Minimum Viable Product (MVP)
The actual app starts evolving when feedback starts pouring in. And for that to happen, you need to first develop a Minimum Viable Product (MVP) with the most essential features. Make sure the core functionality of your app is seen and the potential understood. This will help to incorporate user feedback into future developments, and also to gauge how the app is performing initially after launch.
● Marketing And Promotion
No apps can be conducting businesses without due promotions. Ensure that your app is visible on the app stores for more downloads. You can also make sure that the app description contains specific keywords that can help with visibility.
● Ongoing Maintenance And Support
End of the development phase doesn’t equal the end of app maintenance. Make sure that the app is getting frequently checked for maintenance, as well as any bugs are fixed. Unfixed issues can lead to business losses, or worst, loss of trust from the user end.
Cost Estimate Of Developing A Travel Marketplace App
Now that we have established what potential features are required in a marketplace app that caters to travel, it’s time to drop down to the cost quota. Resource investing into any kind of idea requires a lot of planning, and prior cost breakdown.
App development is no different; however, the costs usually depend on the type of features you are incorporating into the app, and the target audience as a whole. In accordance with all these, the costs can look like:
● $40,000 and above, when it entails developing your concept around a pre-built solution and the features are basic ones, without targeting any niche traveler audience.
● $90,000 to $150,000, where the development time can range from 3 months to about 6 months and the app includes select features that are customized for certain functionalities for users.
● $300,000 and above, when your idea includes the most unique features for users and a unique code base as well. Basically, going all out in terms of ideas will also mean going all in in terms of resources and investment.
Conclusion
Travel apps are increasingly becoming more popular. The post-pandemic catapult in the travel arena has been tremendously profitable for apps like Hopper. However, this growth also means that there is space for more apps to come into business.
If you’re someone who has eyes set on the travel space in 2024, this blog sheds light on one of the ways you can break into this market space. Partnering with a reputable Flutter agency can make a significant difference in building a seamless and efficient travel app. And if you aren’t sure still, consider consulting an expert who can draw more light into the entire process of building an app and launching it.