An Entrepreneur’s Guide To Ecommerce App Development: Business Models, Benefits, And Features To ConsiderAuthor E-commerce App Development
Take a list of top-grossing smartphone apps, and you’ll inevitably find apps from one sector – eCommerce. Amazon, eBay, and well, add 12 – 24 million more eCommerce platforms to the list. Ecommerce is one sector that has always been on the consumers’ radar, owing to the sea of products available. With the market for eCommerce forecasting to generate $4.5 trillion in sales per year by 2021, entrepreneurs needn’t get a second invitation to invest in this booming sector.
Are you one of those who aspire to make your presence in this sector? Be wary of the fact that there’s a neck-to-neck competition, but do not worry. With the right combination of insights and strategies, you can compete even against giants like Amazon. The sky’s the limit for an entrepreneur, right?
In this blog, we’ll have a clear overview of Ecommerce app development. You’ll get to familiarize yourself with the popular business models, attractive features. Besides, you’ll visualize a clearer picture of your end-product by knowing the benefits of having an eCommerce app.
One Simple Rule – Evolve with the eCommerce trends
Smartphone users, especially millennials, expect more from an eCommerce app. Evolving with customer trends is one great way to enhance sustainability. You need to understand specific eCommerce trends that can help you while reaching out to the target audience. They include,
- 59% of the Millennials will visit Amazon when online shopping (Source: Inviqa).
- Around 55% of the consumers tell their family and friends if they are dissatisfied with the product/company (Source: UPS).
- Globally, credit cards top the list as the most preferred payment mode, with people using them in 53% of the transactions (Source: Kinsta).
- Among various reasons for people preferring online shopping, the flexibility to shop round the clock remains #1. (Source: KPMG)
Ensuring that your app goes hand in hand with these trends will enable you to have a competitive advantage.
The right business model – Key to seamless operations
One of the fundamental steps in eCommerce development is to decide the business model. Simply put, the business model is a blueprint of your business operations and the different stakeholders involved. Let’s discuss the different popular models here,
- B2C (Business to Consumer)
A majority of eCommerce apps fall under this category. In this type, the online platform bridges the gap between businesses and consumers. Vendors get to display their products to customers.
Amazon and Flipkart are famous examples of this type.
- B2B (Business to Business)
This model is similar to B2C, except that businesses sell products to fellow enterprises instead of individual customers. One simple example is an eCommerce platform where construction firms get to access cement companies for their business.
Alibaba and Amazon business work on this model.
- C2C (Consumer to Consumer)
Why the need for businesses to intervene where customers can buy/sell products among one another? Peer to Peer marketplaces is a great way for consumers to communicate with interested buyers/sellers.
eBay and OLX make this C2C model popular and familiar.
- C2B (Consumer to Business)
Breaking barriers is one primary objective of the digital medium, right? Platforms based on the C2B model enable customers to reach out to businesses and sell their products/services.
Survey Monkey is a typical example of a platform leveraging the C2B model.
Integrating unique features – vital to customer engagements
Only a few eCommerce app developers like Appdupe come up with unique functionalities and features to ensure an app’s success. Some of the stand-apart aspects that can enhance customer engagement rates include,
- AI for personalized content: Nowadays, customers expect personalization in a smartphone application. Artificial Intelligence (AI) can provide a giant leap in terms of customized content. Right from product recommendations to push notifications, AI can do the trick.
- In-app wallet: As mentioned earlier, people are switching to digital modes of payments. Eliminate the need to enter account details every time during checkout with an in-app wallet. Users can proceed to checkout and pay for their orders with just a few taps.
- Daily deals: It may sound simple, but what’s the best way to user retention when customers visit your platform EVERY single day? Providing offers and discounts to specific products every day can lure the audience and convert traffic in sales seamlessly.
Potential benefits – paving the way for a paradigm shift
The eCommerce sector is witnessing a sea of entrepreneurs venturing into it. A comprehensive eCommerce app development solution cannot sustain or create an impact unless it comes with numerous benefits for different stakeholders.
- Boost visibility: Be it Austin, Texas, or Auckland, New Zealand, the platform reaches the nook and corner of the world, boosting brand visibility.
- Multiple revenue streams: You have access to unrestricted revenue from various sources—commissions, subscription plans, in-app ads, to name a few.
- Customer convenience: Be it a tiring workday or a rejuvenating holiday, customers can reach out to your platform with just a few taps on their smartphones.
- Compare and analyze: Customers can compare and analyze numerous products based on various parameters before making decisions.
We hope this blog would have laid out the foundation for your eCommerce app journey. There’s no doubt you’ll need a dedicated eCommerce app development company behind you to transform your visions into reality. In case you’re wondering who can help assist throughout various stages, we, at Appdupe, are just a tap away.
Schedule a meeting with our experts, tell us your dreams and aspirations, and we’ll play a pivotal role in making your eCommerce empire dream a reality!
Ready to launch your ecommerce app?
Marketing is my soul mate and writing is my side kick. Using my writing skills to share the knowledge of app development and upcoming technologies.