Cost Analysis of Building an E-commerce Marketplace like Amazon

1. Cost Analysis of Building an E-commerce Marketplace like Amazon

2. According to Digital Commerce 360, the world’s leading marketplaces—including Amazon, eBay and Taobao— sold $2.67 trillion in 2020. Analysts found that the sales on marketplace websites such as Amazon and eBay accounted for 62% of global web sales in 2020. The popularity of multi-vendor e-commerce marketplaces like Amazon has accelerated with the COVID-19 pandemic. Everyone from retailers, wholesalers, to manufacturers are seeking to digitize their business processes. And what’s better than optimizing the eCommerce giant platform like Amazon? This article is for every business looking for ecommerce app development like Amazon. We have thoroughly discussed the design, features to be added, and hours to be invested with an in-depth analysis of total cost it would incur. Continue reading to know more.

3. Design of an e-commerce marketplace like Amazon A user-friendly design is an ultimate thing that can decide the fate of your online marketplace app like Amazon targeting a wider audience from around the globe. Research says that 88% of users will not revisit the website after having a poor experience with the overall design of the app. An engaging design with an intuitive user interface is thus essential for a smooth navigation experience to your audiences. Focusing upon your app responsiveness & multiple device compatibility should be a top priority as around 54.8% of web traffic comes from mobile devices. Making your app work across all screens and operating systems will allow you to attract more users and improve their satisfaction.

4. The key Features to be considered for your e-commerce marketplace like Amazon

5. Building an online marketplace like Amazon requires two modules—vendors and customers. Thus, there would be different features and functionality to meet the needs of both parties.

6. Features for vendors 1. Registration and verification For adding the goods, managing orders, and payments, vendors have to register themselves by filling out their basic information. The registration process also involves authorization of the vendors and verifying the details of the vendors.

7. Features for vendors 2. Inventory management Inventory management is another essential feature to be added to e-commerce marketplace websites and applications. It allows vendors to track records of each product arriving at or leaving their warehouses. The feature lets sellers control the availability of goods in stores, manage their listings on the app as well as automate price updates. The functionality involves integration of third-party APIs.

8. Features for vendors 3. Order management Building an online marketplace like Amazon requires providing sellers with the feature to track and process orders. This will eliminate the need of manually recording and tracking each order. To create this functionality, the total estimated time an expert developer would take is around 100 hours.

9. Features for vendors 4. Admin panel An admin panel allows marketers to manage content: upload files (images, video ads, product overviews, etc.), add, edit, and delete information. Furthermore, it allows for assigning data access permissions, adding and blocking users. You can also enable vendors to reply to user comments and testimonials via an administrator panel.

10. Features for consumers/users 1. Registration and authorization Registration and authorization feature is required for consumers too. The feature lets users sign up in any convenient way- via email, phone number or social media. For data security, some apps also enable two-factor authentication.

11. Features for consumers/users 2. User profile After signing up, the user is required to create its profile containing basic information like- name, age, contacts, as well as payment, billing, and shipping details. There is also a “Wishlist” feature that would allow users to add products to the list of favorites if they don’t want to add to cart for immediate checkout.

12. Features for consumers/users 3. Catalog of goods A catalog that contains product listings, images, and descriptions of the goods is another crucial feature of e-commerce marketplace websites and applications that need to be integrated. To create this functionality, the total estimated time an expert developer would take is around 100-300 hours.

13. Features for consumers/users 4. Search Feature A search feature is another essential functionality to add that enables search for products and brands across multiple filters and categories. Integrating an autocomplete feature should be considered to save the time of users. Integrate a search feature that would specify a range of parameters, like product name, color, size, price, customer ratings etc.

14. Features for consumers/users 5. Shopping cart A shopping cart is a must have feature for any ecommerce app as it allows users to make purchases from different vendors. When developing this feature, set up automated calculations of the total price of products and give a functionality to change the number and quantity of goods in the cart. Also, the cart has to provide information related to available payment methods, delivery time and cost.

15. Features for consumers/users 6. Reviews and ratings Implementing reviews and ratings features in the app will increase credibility to your e-commerce app. This will allow customers to make purchasing decisions based on user feedback. To create this functionality, the total estimated time an expert developer would take is around 80-100 hours.

16. Features for consumers/users 7. Checkout & Online payments A checkout page would confirm users that they have correctly filled out the required information, involving payment method, delivery and shipping details. Offer a variety of payment methods. For this purpose, you can integrate an e-commerce marketplace with a payment gateway. To create this functionality, the total estimated time an expert developer would take is around 120-200 hours. Why do you not read about the Top 10 eCommerce Design trends in 2021 & Beyond?

17. How much does it cost to create an e-commerce Marketplace App like Amazon?

18. Apart from the above discussed features, the cost of making an e-commerce marketplace also depends upon- ● Advanced & complex features you are looking to incorporate ● Location you’ll choose for app development ● Number of hours invested ● Your app development team structure Considering all above factors, for an ecommerce app development with reasonable features, a simple user interface and hiring developers from India, the cost estimation is somewhere between $40,000 and $100,000. The same app would cost you $200,500 to $500,000 if you hire developers from the US/UK and between $150,000 and $400,000 in Europe. .

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