Build An eCommerce Platform: Why You Should Invest in eCommerce Business

Do you know global eCommerce sales crossed a peak of $5.7 trillion in 2023? It is expected to cross $6.3 trillion in 2024. With a growth rate of 23%, sales will be $8 trillion by 2027.?

China, the United States of America, and the United Kingdom are the industry's largest markets, with online sales of $3.1 trillion, $1.16 trillion, and $195 billion, respectively.?

However, it doesn’t mean the eCommerce industry is not growing in other countries. Japan, South Korea, India, Germany, UAE, etc. are growing remarkably.?

In this article, we will give you a quick guide to an eCommerce website, including its factors, features, and cost, as well as how it will provide your business with rapid growth in this competitive market.?

If you’re a retail business or a startup and want eCommerce app development services to grow your business online, you’re at the right place.?

Before knowing the features, factors, and costs, let's take a quick look at the three reasons to invest in eCommerce app development.

3 Reasons to Invest in eCommerce Software

Here, you will find the three reasons that you will experience when you have an eCommerce business application.?

1. Rapid Growth?

The market is evolving and experiencing intense growth every year. Consumers are inclined toward online shopping. Between 2024 and 2029, the global eCommerce market is expected to grow at a growth rate of 9.49%.?

2. High Revenue?

Indeed, the online marketplace offers various means of generating high revenue. Shopping transactions, premium membership, advertising, and listing fees are some means of eCommerce.?

3. Compete in the Modern World?

Innovation and technological advancements are a must to compete in the modern marketplace. Artificial intelligence, machine learning, augmented reality, and virtual reality change the way people shop by giving them an amazing shopping experience. These advancements also reduce return rates and gain customer loyalty.?

Understanding the Essentials of eCommerce Platform

The Internet affects every single aspect of modern business, including retailers. It gives sellers an amazing platform; however, it’s not easy to stand in such a competitive market.?

As a business owner, retailer, and seller, you should know the essentials of an eCommerce platform to grow. The essentials are as follows:?

• Brand Identity?

The key factors in brand identity include Logo, color theme, image, and branding elements. It lets customers know if they’re at the right place for shopping or not. It gives your consumers a sense of what you’re offering when they visit your landing page.?

• User-Friendly eCommerce Website Design?

The design of your website or application must be user-friendly. A well-designed website is one of the essential elements of eCommerce, and skilled and experienced eCommerce app designers can offer you such a service.?

• Mobile-Friendly Website?

Do you know more than 65% of eCommerce sales come from mobile? Eventually, while developing a website, the developer's team must focus on making your website mobile-friendly.?

• Customer Service?

What’s the use of making an eCommerce app when you can’t satisfy your customers?? So focusing on things including phone calls, email, chats, etc. is a reliable idea to give your customers an amazing shopping experience.?

• Customer Reviews

The majority of customers never buy a product without seeing the review. If a user buys a product and gives a positive review, it makes a positive impact on the website since it enhances the chances of repeat sales.?

• HD Product Images?

A high-quality image makes a good impact on customers. When you allow your customers to look at the product from different angles, it increases the chance of a sale.?

• Order Fulfillment Method?

When you offer a solid order fulfillment service to your consumers, your business will grow for sure. Just take the example of Amazon: the company follows a solid order fulfillment method since they deliver the product in just 1-2 days.?

• Making of Strategy or Implementation of Marketing?

It is daunting to succeed without making a marketing strategy and implementing it to raise brand awareness. SEO, content marketing, social media, PPC advertising, email marketing, and affiliate marketing are musts to focus on.?

10 Features You Must Add to Your eCommerce Application?

During eCommerce website development, you should know what features need to be added. Here are the 10 features that must be included:

1. User Registration and Verification?

To ensure safe transactions and a personalized experience, user registration and verification are mandatory.

2. Product Catalog

The product catalog includes the price of the product, a detailed description, and high-quality images from different angles.?

3. Advanced Search Filter?

An advanced search filter leads to more sales since it allows buyers to get the desired product quickly.?

4. Payment Options?

Offering different payment options, such as debit and credit cards, digital payments, etc., respects your user preferences.?

5. Cart and Wishlist?

Adding products to the cart and making a wishlist to buy the products later gives users an amazing shopping experience.?

6. Order Tracking?

Order tracking gives the best customer experience since it allows your users to track their products after making a purchase.?

7. Rating and Review?

Do you know 74% of customers purchase after seeing a product rating and review? Adding this feature to your eCommerce website boosts sales.

8. Customer Support Chat?

Customer assistance through support chat enhances the shopping experience and satisfaction.?

9. Push Notifications?

Push notification alerts increase the retention rate and keep customers updated with new products, offers, and promotions.?

10. Link to Social Media?

Integrating social media into your online shopping platform is one of the key features since it boosts sales.

The Cost of Building an eCommerce Software?

Now, let’s address the elephant in the room – the development cost of eCommerce applications. Undoubtedly, various factors influence the eCommerce app development costs. These factors include platform complexity, UI/UX customization, technology stack, location of the development team, and third-party integration.

If you want to build an eCommerce app with basic features & functionalities – it will cost you less as compared to an eCommerce app with advanced features & functionalities.?

In case, you want to build a low-cost eCommerce application you can choose the MVP (minimum viable product) version of your app. With the minimum features and design, you can launch your app in the market.?

Tap on the link provided to obtain a clear and detailed breakdown of eCommerce app development costs and various other related factors. It will assist you in embarking on your eCommerce app development journey with the strategic roadmap to ensure the success of your eCommerce app business.?