Ever noticed how everyone is shopping online these days?
The number of online shoppers in 2024 is estimated to be 2.64 billion and that means 1 out of 3 people around the world will shop online.
If you are a businessman who is still thinking about developing an e-commerce app, now is the time. Think of Amazon, Flipkart, and Myntra, which did not hesitate to enter the market and have maintained a stronghold ever since.
Developing an e-commerce app involves several steps, and each one is important to its success. A major factor to consider when building an e-commerce application is the COST.
No worries, we'll walk you through e-commerce app development, the main factors that influence it, and the cost of building an e-commerce app.
Growing E-commerce Industry In 2024
The retail industry is mostly happening via smartphones right now, so developing an e-commerce app is a great idea. With so many people shopping online, an app is the best way to go.
During 2020, worldwide retail e-commerce sales revenues reached $4.28 trillion; this number is expected to rise further during 2024.
Look at this graph-
Therefore, online shopping is becoming increasingly popular today and is expected to increase. A growing number of people buy services and products online because it's convenient.
There are many advantages to developing an e-commerce app:
Access to a worldwide audience
Lower overhead costs, leading to revenue growth
Personalize marketing strategies
Enhance customer satisfaction
Flexible platform for changing demands
Important 5 Factors In The E-commerce App Development
Before developing an e-commerce app, you need to know the essential factors that help
you to develop a successful app.
Here, we can discuss the factors that help you in your building of e-commerce app development.
User Experience: When developing an e-commerce app, the user experience (UX) should be a top priority. User experience is a primary factor in the success of your app, as it directly affects user satisfaction and engagement. Also, it is essential to maintain a high-quality design for your application. You can consider partnering with an e-commerce app development agency to receive the best design and development services available.
Ensure seamless navigation within the app, enabling users to discover products and make payments with ease and convenience effortlessly.
A consistent user experience means optimizing your app for multiple screen sizes and devices.
It is vital to streamline the checkout process, as it aids in reducing friction and minimizing the chances of abandoned carts.
Security: E-commerce apps must prioritize the security of their customers by handling sensitive information and financial transactions with utmost care. In order to build trust, the protection of user data must always be given priority.
Implement encryption protocols to secure user data like personal information and banking details.
Enable two-factor authentication to protect users' accounts from unauthorized access.
You have to conduct regular audits of your website to make sure to identify and address issues and fix them immediately.
Integration of Payment Gateways: There are several payment gateway integrations available that can be selected based on your website requirements. Ensuring a secure and efficient payment process fosters a positive shopping experience and establishes user trust. Different payment gateways are available: hosting payment gateways, embedded payment gateways, integration of mobile wallets, API integration, integration of local payment, and alternative payment methods like cryptocurrency or peer-to-peer payments.
Scalability: Make sure always to prioritize the scalability and performance of your app. This will help you maintain a smooth and responsive user experience. It's a good idea to forecast the growth of your app and develop its architecture accordingly from the get-go.
Develop a flexible architecture that can handle the future changes that come within the e-commerce app
Identify bottlenecks by conducting load testing and optimize your app accordingly
Enhance your content delivery speed and reduce latency, especially for users in different geographic locations
Development Partner: When it comes to e-commerce app development, the final yet crucial aspect is choosing the right development partner. If you're considering hiring an e-commerce app development company in Saudi, it's essential to thoroughly research their portfolio, company details, pricing methods, reviews, and more. Selecting the perfect app development agency will ensure you receive an exceptional app that yields the best results.
Average Cost For Developing An E-commerce App
The main factor to consider before app development is the COST.
Every business owner must calculate the estimated budget with their app's features. And for e-commerce app development, finding the exact cost takes some work.
The cost for the app development depends on the goals and requirements of your app like
Type and size
Platforms and devices supported
Software development agency
Backend development
App design
Features and functionalities
Cost of app maintenance
Here are the steps that it takes when developing an e-commerce app:
Project Scope and Complexity: The primary factor that directly impacts the overall cost of your ecommerce app is the complexity. You can create a basic app with minimal features, lowering development costs. However, requiring a more advanced project with all the bells and whistles would naturally incur a higher development cost.
Selection of Platforms: The next feature to consider is the platform selection, which depends on the cost. There are options like iOS, Android, and native apps, each designed for specific platforms. However, it's important to note that these options may involve higher costs than other cross-platform solutions.
UI & UX: UI and UX are crucial elements that can significantly impact the development cost. Investing in skilled designers may increase expenses for customized designs and interactive elements. However, the result is a captivating and immersive user experience worth the investment.
Backend Development: The backend is always called the backbone of app development. You must develop a complete architecture for easy transaction processing, efficient inventory management, and data security. The complexity and scalability of the backend influence the development costs.
Features of the Application: While you can get basic features like product listings and shopping carts at lower costs, adding advanced functionalities such as multiple payment gateways, push notifications, and social media, integrations will require a higher investment.
Payment Gateway Integration: A secure payment processing system is crucial - the backbone of any successful business. Integrating multiple payment options and ensuring compliance with stringent security standards will give your customers a hassle-free and trustworthy payment experience. However, it's important to remember that managing multiple payment gateways may come with additional costs. Investing in a reliable payment system is worth it for the peace of mind and increased customer satisfaction.
Maintenance and Updates: Ensuring the long-lasting success of the app requires thoughtful planning for ongoing maintenance and updates. Regularly enhancing features, fixing bugs, and staying competitive in terms of security is crucial.
Although these efforts contribute to the overall cost, they are vital investments in the app's future.
Suggested Read: The Future of Mobile App Development in Saudi Arabia
Conclusion
As we wrap up our e-commerce app development journey, it's clear that online shopping is more than just a trend. We're in 2024, so businesses looking to create e-commerce apps should consider these factors to ensure the best app possible.
So, if you're a business owner planning to develop a new e-commerce app, always keep these factors and essential elements in mind. Hiring a reputable e-commerce app development company is crucial for the best results.