If you’re developing an eCommerce app to sell your products or services, you may have questions related to its cost. You may have to spend anywhere from $500 to millions of dollars on an eCommerce app, so it’s important to do your research and calculation to keep your costs low and stay within your budget.
The costs that go into developing an eCommerce app include every aspect, including business analysis, design, software development, project management, and testing. This blog post will explore the important factors that can affect the price of eCommerce app development.
eCommerce Apps Market Overview
With over 600 million users utilizing eCommerce applications and a projected $24.3 trillion in revenue by 2025, investing in eCommerce has emerged as a popular method of exchanging goods and services in today’s society.
Let’s check the following key statistics:
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According to Clutch Survey, 68% of consumers use e-commerce apps to receive deals and offers
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65% of customers find online shopping convenient and easy
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It is predicted that 95% of all purchases will be completed online by 2040
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61% of Americans make purchases based on blog recommendations
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Globally, 93.5% of internet users have made online purchases
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Even though the eCommerce sector is expanding by 23% annually, 46% of small businesses in the United States still lack an online store
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Amazon is the top platform for online purchasing, and 32% of online buyers choose Amazon for buying stuff at home
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According to the AWS console, Amazon is developing an AI-based, real-time product recommendation system to help sellers in their business.
Benefits of eCommerce App Development Cost
More than ever, mobile devices have become the primary way for people to purchase items. This presents a big opportunity for businesses that want to increase their online presence or expand into new markets. The following are some of the most notable benefits of eCommerce applications.
Visibility:
According to research, Indian smartphone users typically spend 169 minutes using their devices daily. Therefore, firms can increase their visibility by developing a mobile app and marketing it to appear on customers’ mobile devices.
Customer Engagement:
Whatever your line of work, you must establish a connection with your potential customers. You can interact with your consumers using the mobile app and develop close bonds with them.
Accessibility:
Customers can use the mobile app conveniently and flexibly.
Sales Channel:
The mobile app will give you the biggest sales channel to make it easier for buyers to place their orders at any time.
Product Display:
The mobile app can show your consumers your product selection. In contrast to traditional selling, you would be able to show the series of your goods through photographs.
Brand Building Tools:
The cost of developing an eCommerce mobile app is meager when compared to the brand leverage it provides. You will have the power to promote your logo while making it fashionable, interactive, and user-friendly. Businesses can occasionally attempt to post an offer to invite their customers to the app.
Digital Marketing Channel:
Your mobile app will function as a direct marketing channel without obstacles. You may share offers, discounts, and deals with users through push notifications and other features that allow you to interact with users.
Rewards:
You can always thank your customers through rewards and develop a close relationship with them.
Personalization:
You may identify your clients and make service and product recommendations in line with that information by looking at their prior order history, like giving each customer a personalized area.
Factors Influencing eCommerce App Development Cost
There are many factors responsible for developing a robust, scalable, and mobile-friendly E-commerce app. Various factors influence the cost of developing an online shopping app, but it mostly depends on the kind of application you need to succeed in the market.
Let’s focus on the main factors influencing mobile app development costs.
Size and Design of App:
Your app’s layout and icon design should be sufficiently alluring to appeal to and captivate users to continue using it. Rapid technological advancement helps to improve all coding and aesthetic requirements.
Your app’s size will depend on how many features are included. The size of your software should be less if you use the functionality and vice versa. Therefore, the overall cost gets impacted if you wish to add new features and functionalities. The estimated cost ranges from $2000 to $30,000.
App Platform:
You must decide on the app platform to reach your customer base before you can calculate the cost of developing an e-commerce app. Are you considering the platform you should use? Understanding your user base and conducting market research can help you choose the platform that will benefit your business in the long term.
Compared to iOS and Windows, Android has been dominating the app platform competition. According to statistics, Android has a larger consumer base. However, developing an Android app costs more money and requires more testing on various devices.
App Design Cost:
Gaining the attention of your intended audience depends heavily on the design and functionalities. It must be visually appealing, paying close attention to every element and minute detail. It also incorporates several elements and cutting-edge technologies to strengthen the design.
Naturally, the price increases if you want the software to support different operating system versions. Additionally, the appearance of your app depends on the platform you use, in this case, the Play Store App Store.
The estimated price for an app design will range between $2,000 to $35,000.
Wireframing Cost:
Wireframing is an effective visual architecture for creating the application layout. A mobile app development business in the USA will typically test out various wireframes before choosing the ideal one to use when creating an app from scratch. Multiple page designs and physical makeup are required for the map layout. The cost is determined by an app’s complexity and amount of pages.
The estimated cost for wireframes is from $500 to $1500.
Maintenance Cost:
Most of the time, businesses overlook maintenance costs, but they must be considered while developing your mobile app. Frequent upgrades for Android and iOS are necessary, which raises the price of developing an e-commerce app.
Estimated maintenance expenses range from 20% to 30% of initial development costs.
Developer’s Cost:
To hire a dedicated development team, you need to calculate the developer’s cost based on several variables, including-
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Daily rate
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Experience as an app developer
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Location of the Developer Development Company
In addition, you must also factor in the costs of the QA manager and App Designer.
Cost for an eCommerce App Development
The average cost of an eCommerce app development depends on various factors, from how extensive the design and functionality are to who is designing the interface. On average, this project can take anywhere from 30 days for a simple prototype to 60 days for complex apps with rich interactivity. The price range is typically between $20,000-$30,000. This price estimate may also vary depending on the market and requirements such as language, design specifications and 3rd party integrations.
A recent analysis by GoodFirms found that the average cost of developing a simple app might be anywhere from $38,000 to $91,000. Medium complexity apps will cost between $55,000 and $131,000 to develop, but tough applications can cost $91,550 or more.
Moreover, it will be more expensive if you hire eCommerce developers who need to integrate your business’s website into the app or if there are backend functions that need custom coding.
Best eCommerce App Development Monetization Strategies
Ecommerce is rising, and mobile commerce app development should be part of your next project. But before spending time and money figuring out what monetization strategy will make sense for your business. Take a look at the following ways to make the most of these strategies:
Business Monetization Model:
This monetization strategy is advised for individuals who want to use this software to offer goods or services under their brands. To keep clients, you can sell things with recurring monthly payments, yearly plans, or loyalty award points.
Aggregator Business Model:
If eCommerce platforms like Amazon, eBay, and Flipkart have previously inspired you, then this monetization method is for you. With this kind of monetization approach, you can work with several brands to offer their goods or services under the aegis of your own. You can profit by adding a share of any proportion to each sale.
Your brand will function as a third-party marketplace where other businesses can offer goods and services. Make sure your app is structured and constructed to accommodate this monetizing method if you are considering using it. You can work on it yourself or hire an eCommerce development company.
Final Words
All in all, eCommerce app development cost depends on your business and how much time you want to invest in the app development process. There are a lot of factors that go into pricing. Every project is different, so understanding these nuances can help avoid costly surprises.
We hope you have discovered all the crucial aspects of creating an eCommerce application, such as features and projected costs, which will aid you in making future decisions.
Also, Read Here – Ultimate 8 Steps for Ecommerce Website Development
