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A way back in 1994, when Amazon was launched as the first eCommerce store worldwide, it grew from no revenue to revenue of $9.54 billion in 2022.
Thereafter, the eCommerce store grew like a weed and total sales are expected to increase to $746.22 billion by 2023. It means those who invested $10,000 at Amazon’s IPO in 1997 would have gained $4.8 million. The impressive growth in the last two decades inspires budding players to try their hands in the billion-dollar eCommerce industry.
When we look at the global eCommerce space, the jaw-dropping growth in sales appealing to entrepreneurs to gain a share of the eCommerce market is expected to become an 8.1 trillion dollar industry by 2026.
The continuous growth indicates that eCommerce app development is a must-have to stay in the market. And, building eCommerce mobile app is a way to stay on the top in the online retail industry. When building an app from scratch, you certainly want to keep pace with the latest eCommerce trend. These trends help Ecommerce stores stay ahead in the market. Before getting acquainted with the trend, knowing the eCommerce mobile app development cost is the first logical step.
In this blog, we have summarized the cost of building an eCommerce mobile app followed by the services it provides, benefits it brings, and features that make your app stand out. Let’s dive in!
eCommerce mobile app development can help to build a custom eCommerce mobile app that provides a range of services. Here’s a brief overview of the services that the eCommerce app provides.
Multiple options: Provides a large collection of products/services of different brands to the shopping enthusiast.
Home delivery: The app ensures that the buyers get their order at their home, on time by partnering with logistic partners or building their own logistic services.
Multitude of payment modes: Allow customers to make payments for online shopping with multiple payment options such as cash on delivery, credit card, debit card, mobile wallets, and other payment gateways.
Seamless returns: Allow customers to promptly return the products if they are not satisfied with them.
The increasing mobile usage contributes a ton to eCommerce app growth. In the same vein, it’s bringing multiple benefits to the businesses which make the development cost worth it. They are-
Also Read: How to Start Online Boutique Business Store
Wanted to know- “how much does it cost to develop a mobile app.” You reached the right place. The eCommerce mobile app development cost typically ranges between $20,000 to $40,000. However, the cost of an eCommerce app scales up or down based on certain factors such as the app’s complexity, number of development platforms, features, design, developers’ location, and ongoing support and maintenance. Get a precise cost estimation by digging deeper into the factors.
The size of an e-commerce app is determined by the number of products it sells and the amount of traffic that it generates.
Small e-commerce business has a limited range of products and a small customer base that requires limited features and optimal UI/UX designing. The eCommerce mobile app cost anything between $300- $16000.
If the e-commerce app has a decent range of specialized products and an average customer base, then the business needs a mid-size app with some complex features. The cost of building a mid-sized e-commerce app costs between $16,000- $35,000.
An app that has a wide range of products and a large customer base will require a scalable solution to manage large inventory, multiple sales channels, and support unlimited categories. Also, ERP and CRM integration are necessary. The cost of developing a custom enterprise-level commerce app starts from $40,000. eCommerce marketplace app development falls under the enterprise-level business category as it involves hundreds of sellers providing a range of services to millions of users.
The choice of platform has a huge impact on the overall cost of an e-commerce app. While Android has a large user base across the globe, iOS is more popular in North America. The e-commerce app should be built according to the targeted user base preferences that help you move ahead with financial gains.
When you build the Android eCommerce app, it costs you around $25,000. On the other hand, iOS eCommerce application development shells out $20,000. Building the app for both major platforms incurs $45,000 in total.
Another way to go the extra mile in a cost-efficient way is to consider Cross-Platform app development technologies like Flutter and React Native. A hybrid app costs half as much as a native one, as one does not need to build two separate apps for Android and iOS. It means the cost to create an eCommerce app for both platforms gets reduced to $30,000 as the development time and effort are reduced by 30%.
After the eCommerce platform selection, you need to decide the functionalities- basic and advanced that will be a part of the application, which significantly impact the development cost. First, create a list of features comprising only basic features or a mix of basic and advanced functionalities to know the app development cost estimate. The development of eCommerce functionalities is followed by their implementation, testing, and improvement that extends the online shopping app development cost by a few more $2000-$4000.
The eCommerce functionalities create a unique selling point and make users download the app, but it’s the app design that makes them repetitively visit and purchase. If you want to know in detail- how to create an impressive eCommerce UI design, the guide will be helpful. The visually pleasing design with an appalling interface, rich graphics, animations, illustrations, and other design elements takes up to $4000-$25,000.
Also, OS versioning and a large number of screen sizes require designers to create a flexible and versatile design that works everywhere glitch-free. It has a good effect on app design costs as well, which contributes to the total eCommerce app development cost.
Post-launch, you need to upgrade eCommerce by leveraging advanced technologies to meet the evolving needs of the users and keep them engaged. It includes adding new features, enhancing existing services, and optimizing the store for traffic spikes. It adds up to support and maintenance cost that eCommerce mobile development companies charge annually, but you should financially plan for the same. It goes around $10,000 annually.
The app development rates vary from region to region due to the availability of qualified IT specialists, cost of living, and experience in cutting-edge technological innovations. Developing an app from Eastern European developers requires you to pay $30 per hour, while US developers charge as high as $150 per hour and Indian developers cost as low as $20 per hour. Ultimately, the differences in hourly rates influence the development cost. Get to know about developers’ hourly rates in different countries in detail through this blog.
The mobile eCommerce app development solution comprises basic features and advanced features that enable businesses to sell and earn at scale. The basic features in your application are a must-have to make the users seamlessly purchase from a mobile app.
Apart from the basic features, entrepreneurs can consider including some advanced features to ensure that their app stands out from the crowd.
Amazon is the most popular e-commerce app in the world today and a major reason for Amazon’s popularity is that it has a great product recommendation system. The recommendation system of Amazon helped the company increase its sales by 29% and today Amazon has integrated recommendations into nearly every part of the purchase process.
The recommendation algorithms can help apps add that personal touch which in turn helps to boost user engagement. The algorithms also open up new cross-selling opportunities, which ultimately drive up the bottom line. The app could show recommendations on the home screen, product pages, and even in shopping carts. The app could also send targeted emails to people who have growled certain categories of goods.
Ikea-Place-App Augmented Reality is a technology that has created a huge impact in many industries and e-commerce is no exception. Global furniture giant IKEA utilizes AR in its e-commerce channels. IKEA place is one of the first iOS apps to use Apple’s ARKit technology.
The app allows customers to view 3D renderings of more than 2000 products from IKEA’s range. Customers can visualize how the furniture would look in the place in which they want to put the furniture.
Voice-controlled devices like Amazon Alexa and Google home have fueled the e-commerce boom. A report says that two out of five customers reported a product purchase through the voice search function. Voice search assistant is already into major e-commerce sites. Flipkart launched a multilingual voice assistant in their app which allows users to talk to the app and place an order.
An AI Chatbot can help an e-commerce app increase revenues at a relatively low additional cost. Based on the answers to a few questions, an AI-enabled Chatbot can help a customer find a product on the e-commerce app. The Chatbot can also present customized offers to the customers which help to drive the conversion rate higher.
The Hong Kong branch of Toyota decided to use a Chatbot for the marketing campaign of its new vehicle Toyota Sienta. The Chatbot collected the preferences of customers and assigned sales representatives accordingly. The result was that the Toyota Sienta campaign returned a 10% CTR, while the average was only 0.6 %.
If you also want to increase the conversion rate of your eCommerce store, hire AI developers for AI chatbot integration to make products more accessible with easy search.
UI/UX: Tools like Photoshop and Google sketch can be used to craft beautiful UI/UX.
Payment Gateways: Services like Stripe and Braintree can be used to integrate various payment gateways like PayPal, MasterCard, Visa, and Net banking services of various banks.
Database management: MySQL, MongoDB, and Firebase can be used for database management.
Coding: Objective C, Java, Python, and Swift are the preferred languages amongst iPhone and Android developers. Platforms like Flutter and React Native are the options that developers use for building a hybrid app.
Data Analytics: Data analytics will ensure that the app knows about the personal preferences of each customer. Data analytics solutions from Amazon, Google, and Microsoft can be availed.
Push notifications: Various services like Twillo, Apple push notifications service, and firebase can be used to send push notifications.
Voice search: The Azure speech API, Amazon transcribe, Siri shortcuts, and Google cloud text speech API can be used to implement a voice search function in the app.
Chatbots: Google Dialogflow, Amazon Lex, botpress, and bot kit are some of the Chatbot platforms which help developers build a robust Chatbot.
A skilled team will be required for developing an eCommerce app Amazon and eBay. The team should include these members
An e-commerce app will have to cater to the demands of the customers 24×7 and it cannot afford to go down even for a minute. An e-commerce app needs to have
An expert e-commerce app development firm will have robust systems and all its development processes defined properly. The best mobile app development company will help in building a high-quality e-commerce app that will fulfill the high expectations of customers.
At Prismetric, we have an enviable track record of building high-quality mobile as well as web solutions for our clients. Over 10+ years, we have developed more than 1000 solutions. We have provided solutions to more than 500 clients in 25 + countries across the world. If you have an e-commerce app idea, we have the systems to convert your idea into reality.
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