eCommerce businesses are admired by one and all today. With digitalization and increasing admiration for online shopping, businesses always think of innovative ideas to set up their eCommerce stores. Brainstorming unique eCommerce ideas is a must to start something new, but do you think ideas alone are enough?
When businesses plan to develop their eCommerce platform, they research, gather ideas from other successful businesses, look for ongoing industry trends, etc. These steps are undoubtedly necessary, but they become great once and only if one takes reasonable actions to transform these ideas into reality.
The biggest hurdle in starting an eCommerce business is the right execution of the business ideas. In fact, many businesses fail to move ahead with their ideas because they get overwhelmed with the whole process of development. Another important factor that works as a roadblock for many businesses is the cost of eCommerce app development.
Don’t worry, though; this blog will help you get out of your fears and go ahead with your brilliant eCommerce project ideas. We will discuss the benefits of eCommerce business, the cost of eCommerce marketplace startup, and much more here. So, stay glued and keep reading.
What are the benefits of having an eCommerce store for your business?
This question might have crossed your mind, and it’s totally valid. We must know the hype behind eCommerce businesses and why you should invest in them.
So, without wasting any minute, let’s have a look at the benefits of developing eCommerce stores for a business. And, let’s begin!
Visibility
Businesses can boost their visibility with eCommerce stores. People are getting hooked on their smartphones, and eCommerce can benefit from that significantly.
Increased reach
With an eCommerce store, businesses can connect with more potential audiences online. An eCommerce store increases the overall reach of a business and helps to engage with more customers.
Product display
With an eCommerce store, businesses can display their products in a more organized and categorized manner. Unlike traditional shopping, eCommerce allows displaying the products with pictures and other details.
Better personalization
eCommerce stores understand their customers’ history and recommend personalized products based on past records. Customers feel special when they get personalized services and, therefore, like shopping from eCommerce stores regularly.
Scalability
Scaling up an online store is easier than scaling up a physical store. Compared to a physical store, setting up an eCommerce store requires much less effort, time, and resources. Moreover, unlike physical stores, eCommerce stores are connected to a global marketplace.
Targeted marketing
When you run a business online, there’s a certain audience you want to reach. Your marketing budget would be based on reaching out to specific customers who are interested in purchasing your products. Thus, the business can save a huge sum of money and reach their targeted audience strategically with targeted marketing.
Reviews and feedbacks
Customers can leave reviews and feedback on eCommerce websites about their experience with a particular product. These reviews also help other customers as they can go through the reviews before buying the same product. Moreover, these reviews also help businesses improve their services and user experiences.
Brand building
The cost of developing an eCommerce brand is worth the brand-building tools it offers. Businesses can make a solid brand online with attractive design, user-friendly shopping experience, and memorable logo. Building tools help businesses to create a brand that makes a lasting impact on the customers.
After discussing the benefits of eCommerce business, it’s time to focus on eCommerce startup costs. So, how much do you think it would cost? Well, we know that’s a difficult question to answer, but we hope our attempt to help you with the costs will be fruitful. So, don’t go anywhere and keep reading.
How much money do you need to start an eCommerce store? Let’s discuss it!
The average eCommerce startup spends about $40000 in their first business year. Source – Shopify.
It doesn’t mean that you’ll need the same amount. The cost of starting an eCommerce business varies greatly depending on various factors, such as the eCommerce business model, cost of goods, team size, technologies you use to create your online store, etc.
let us look into the breakdown of eCommerce startup costs you bear while establishing your online store.
| Category | Description | Estimated Cost (Low) | Estimated Cost (High) |
| Native App Development (iOS and Android) | Developing a native app for both iOS and Android | $20,000 | $100,000 |
| Web App Development | Developing a web app using HTML, CSS, and JavaScript | $15,000 | $50,000 |
| Cross-Platform App Development | Developing Android, iOS, and Web apps from a single codebase using a framework like Flutter | $25,000 | $60,000 |
| App Design and Prototyping | Creating a design and prototype for the app | $2,000 | $10,000 |
| App Development Team | Hiring a team of developers, designers, and project managers | $10,000 | $50,000 |
| Payment Gateway Integration | Integrating a payment gateway like PayPal, Stripe, or Authorize.net | $100 | $1,000 |
| Inventory Management System | Developing a custom inventory management system | $2,000 | $10,000 |
| Shipping Integration | Integrating shipping providers like USPS, UPS, or FedEx | $500 | $2,000 |
| Testing and Quality Assurance | Testing and ensuring the quality of the app | $2,000 | $10,000 |
| Launch and Deployment | Launching and deploying the app on app stores | $1,000 | $5,000 |
Additionally, you must be ready to pay extra if you want to leverage Artificial Intelligence and Predictive Analytics in your eCommerce platform.
Apart from the eCommerce app development cost, other essential costs to consider when starting a new business are
| Category | Description |
| Domain Registration | Registering a domain name |
| Web Hosting | Hosting the website on a server |
| Email Marketing | Setting up email marketing campaigns |
| Social Media Marketing | Creating and managing social media accounts |
| Content Creation | Creating high-quality product content |
| Product Photography | Taking high-quality product photos |
| Inventory Costs | Purchasing initial inventory |
| Shipping Supplies | Purchasing shipping materials |
| Insurance | Obtaining business insurance |
| Accounting and Bookkeeping | Setting up accounting and book keeping systems |
Understanding the cause behind the cost of starting an eCommerce business from scratch and developing a platform is necessary. Here are two factors that can affect your startup budget to an extent.
App features and functionality
The features and functionality to develop into the eCommerce app play a vital role in the overall cost. Hence, you must decide on the unique features and technical specifications you want to integrate into your eCommerce store. You can create a custom eCommerce app with distinct features and powerful functionality.
Features like social sharing, app analytics, multiple payment gateways, wishlists, dynamic pricing, coupon codes, virtual assistants, referrals, etc., add to the overall cost. Thus, you can decide which features to keep and which you can eliminate. Moreover, you can also seek advice from an eCommerce development company about choosing the appropriate features for your eCommerce project.
Location of the developers
The location of app developers or the eCommerce app development company you partner with is another factor that requires attention. Do you know developers from different countries charge different prices for their eCommerce services? For example
So, make sure to check the location and hourly rates of the developers you are planning to hire. You can also find out the estimated cost by multiplying the total hours of development by the developers’ hourly rates. This will help in planning the budget in advance.
What is the cost for an eCommerce marketplace startup from India?
Hiring an Indian eCommerce development company can be a great choice for an online business startup. An Indian company charges around $30 to $50 per hour for its eCommerce development services. However, this figure might vary from one project to another.
The cost of development also differs according to the seniority of developers. A senior eCommerce developer with 5+ years of experience with more expertise might charge more than a beginner developer. Thus, if you want to hire Indian eCommerce developers, you must hire expert developers from our renowned company.
Conclusion
Since eCommerce development is gaining popularity every minute, businesses are not leaving any chance to develop their own eCommerce store. If you too want to have your eCommerce store, meet a team that knows what it takes to develop a high-end eCommerce store.
If you are looking for developers who have in-depth expertise in eCommerce development, you can reach out to us anytime and discuss your project at length. Moreover, you can check this checklist to start an eCommerce business from scratch to understand our eCommerce app development process clearly.
FAQs
How much time does it take to develop an eCommerce store?
Honestly, it differs from one project to another as different clients have different requirements. Giving an average time in the beginning, is tough for most of the developers just like the total costs. However, the developers you hire can give you an estimated time keeping in mind your project’s core requirements.
Do the developers offer customization services for eCommerce projects?
Talented developers who have been practicing eCommerce development for years will definitely offer customization services. To be sure, don’t forget to discuss your unique requirements with the developers and make sure they are good at custom app development.
Are there different hiring models to hire eCommerce developers?
Yes, most of the companies offer multiple hiring models to their clients. The most common hiring models that you can choose from are part-time hiring model, hourly hiring model and dedicated hiring model. You can choose the most suitable model for your project among these three.
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