Business Model and Features To Create Your E-commerce App like Amazon
Everyone loves to shop online. It allows the users to shop the latest fashion and other things sitting at home with just a single click. Due to the pandemic, there is a surge in online shopping. As even during the closure of malls, people could shop for whatever they wanted.
Let us consider an example of Amazon that took the online experience to the next level for users. It has integrated the latest trends in the app and offers users easy to shop. The company’s net revenue was $26.9 billion, and therefore Amazon became one of the leading tech giants that made entrepreneurs invest in e-commerce apps.
The trend of marketplace applications has increased as people do not prefer standing in long queues and have hectic schedules. Are you an entrepreneur and planning to invest and develop an app like Amazon, then you must have an overview and then decide whether it is the right choice for you or not?
Key Stats and Figures about the usage of these Apps
- As per a survey conducted, US customers have been relying on online shopping and estimated that more than 95% of the shopping will be made online in 2040.
- These apps offer genuine reviews for the customers, and therefore 68% of women consider reviewing the products before purchasing.
- The latest e-commerce market shows that users will amount to 4636.3 million by 2024.
- The 2020 stats show that Amazon is one of the most downloaded apps on the Google Play Store worldwide. It has been downloaded 3.82 million times on the mobile devices of users.
The below stats indicate that shifting your business online is one of the wiser decisions in 2021.
The key aspects to build an E-commerce App
The process of developing a marketplace application requires you to gather a ton of information and examination. Here are all the key aspects that help to build a perfect E-commerce application for the users:
1. A proper Research and Planning
For all those directly moving to the development process, you must have a proper strategy in mind. If you do not have an idea, research, and plan, you may make blunders in your development project.
Readout all the key points that will help you understand what all you need and what will be the end products once the app development takes place:
- Begin with analyzing the customer behavior, what they want, and their requirements.
- Analyze what kind of products you want to sell and what do the users expect from you.
- Are you trying to sell multiple items? Have you categorized these products properly? And are your customers able to find them easily?
- Carrying market research and analysis will help you gather feedback from the audience you target. It is also crucial as you will not have to make changes in the coding as developers will charge you an hourly fee.
- If you are a startup, go with the MVP model, it will keep the development cycle short, and you would not have to invest more.
2. Choosing for the operating system
The next step is choosing the operating system. Whether you want to develop an app in Native or Cross-platform, it is the client's choice to attract enormous audiences. But how do you choose the right platform for your app development? Let us help you with the same.
Here are a few factors you should consider that would help you understand what is the right operating system for you:
- Ask your client about the customers they wish to attract. So decide if you are targeting a wealthy class of people you can go for iOS app development, and if you want to target middle-class people, you can go for Android app development.
- Also, the geolocation of people plays a crucial role. Android users are present all around the world. But the iOS is in the North America region and Europe.
- Android apps have a wider reach, whereas iOS applications are faster to develop.
3. Must have features to develop an app
The app features and functionalities are some of the most crucial factors that decide whether the app will have a name in the coming future or not. It is not vital to make a fancy app and spend a lot of money. Users prefer a simple application that helps to convert visitors into potential customers.
Read further and know about all the features your application must have before you develop an app like Amazon:
It is crucial to make the process of registration as simple as possible for the users. An app that is easy to use allows simple signup and login to the application by entering the details like email ID, contact number, or password. The users can also use social media login to use the app.
- Push Notifications
Push notifications nowadays are one of the most valuable trends. It helps in user engagement and keeps them updated with the happenings without opening the app.
Also, the app sends all the valuable alerts while helping you engage more users.
- Advanced Filters and Search Bars
It allows the users to search for the products they are looking for. The option helps the users to apply multiple filters that include cost, category of product, brands, price, ratings, color, and much more.
- Real-Time Order Tracking and History
With order tracking, the users can easily track the exact location where their order is. Also, they can have a record that helps save it so that you do not have to explore products from scratch.
- Multiple Payment Options
Integrating your application with multiple and secure payment gateways helps users to make the payment with ease.
You can integrate options like Debit/Credit cards, digital payment gateways, cash on delivery, and more.
- Easy Check-Out
The quick and easy check-out procedure will help customers to make an order with the required information and quickly check out the profile.
- Offers and Discount Management
This feature attracts most of your customers. On occasions, you can offer discounts to the users. It would make them happier, and there is customer retention.
- Feedback and Support
With this feature, the app owner knows where you need to improve.
4. UX/UI Design of the App
Well UI/UX, design, app complexity are the major factors that affect the cost of app development. It is the foremost thing that brings the customer's attention. The main interface where the customers interact and therefore plays a role in Ecommerce App development. The app design can cost you around $7000-$10,000.
5. Monetization Strategies
It is another concern now. How does your app make money? Listed below are the monetization strategies that allow you to earn:
- App Subscription: Seller pays a fixed commission on the subscriptions if they want to host or sell their products on the platform.
- Commission: Businesses can charge a certain amount of commission on the sales of every product. It can vary depending on the product category and the price of the product.
- Logistics: Logistics is a crucial factor in revenue generation. You can generate a large amount of revenue from logistics. These extra charges for the delivery of the products go into your pocket.
Cost of App Development
The cost of the app depends on several factors. Here are these factors that contribute to the cost of the app development:
- Project manager
- App developers
- UX/UI designers
- Back-end Developers
- Front-end Developers
- QA expert
Choosing the Right App Development Team
The blog covers all the essential details and costs that you require to develop an app like Amazon. However, developing an app and running it on a single platform is not advisable. You must consider running it on multiple platforms like the web, Android and iOS.
So, if you have a great idea in mind, you must consider hiring a mobile app development company to transform your app idea into an online shopping app. ToXSL has the best experts who would help you develop a perfect app for your business!