ECommerce is one of the fastest-growing and most valued industries that has completely revolutionized our daily lives. Every buyer, seller, and end-users are linked with each other, regardless of their business location. ECommerce is considered one of the biggest platforms for businesses to endorse their services and products without restrictions. But do you have any idea how everything works in the entire eCommerce website development ecosystem? Many businesses have already Partnered up with an eCommerce website development company to increase their business sales over the Internet. As per the reports from Statista, the overall retail eCommerce sales worldwide were about $3.53 trillion in 2019. It is expected that this online retail revenue will grow up to $6.54 trillion in 2022.
In India, eCommerce websites have completely changed the way businesses perform in the market. It is expected that the Indian eCommerce market will grow up to $200 billion by the end of the year 2026, which was around $38.5 billion in 2017. As the Internet and smartphone users are also increasing day by day, you can also witness a notable trigger in the growth of the eCommerce industry. With the running digital transformation in the country, it is expected that by the end of the year 2021, the total Internet user base in India will be 829 million, which was around 636.73 million in FY19. The total eCommerce revenue of the country will take a hike from $39 billion recorded in 2017 to $200 billion By the year 2021. This is only the scenario in India; however, the worldwide scenario of the eCommerce market is also changing continuously.
So even with limited resources, most businesses are setting up their business online for improved profits. Buyers are becoming dependent on online shopping; as per the report from Statista, 90% of the consumers will be shopping only by the Internet by the year 2040. The main reason behind the success of eCommerce stores is round the clock availability of resources.
Before diving into the eCommerce website development process, let's first know about the various eCommerce websites.
A business-to-consumer eCommerce website is for making purchases between a business and a consumer. An ECommerce website offers a similar Shopping experience to users as they get in offline stores. But with online shopping, users can pick up their item and add it into the cart from the online catalog, and then they check out virtually. Some of the most common examples of dedicated eCommerce websites where most brands enlist their services and products to sell them are Shopclues, Amazon, Flipkart, Indiamart, etc.
In these types of eCommerce websites, the sales of services and goods is made between businesses through an online sales portal. These types of websites are used to enhance the efficiency and awareness of the sales offer company. Alibaba.com is one of the top examples of B2B Commercial centers where multiple merchants sell their goods.
In C2C ECommerce websites, one customer cell services or products to another customer through online methods. Examples of this type of website are eBay and Etsy. The sale in C2C ECommerce websites is facilitated by a third-party website that takes care of all the transaction details made during the sales.
Another amazing platform is the customer-to-business Model, which is a well-recognized eCommerce platform as it delivers freelancers. The freeze Lancers perform the specific job that the clients offer. The most typical clients are commercial entities, and freelancers are individual professionals. In easy words, C2B ECommerce websites offer sole proprietorship services to larger businesses.
In these types of eCommerce websites, multiple products are listed for auction, and the users can purchase those products by bidding on their prices.
Shoppers use a vertical search engine to compare and filter the prices, features, reviews, and various other factors of the product they plan to buy. These types of websites compare the purchase and prices for the best deals.
The web-based business plan is the applied structure that belongs to the B2C, B2B, C2B, C2C business. It helps you create the sales target of your organization and how you can plan to fulfill it. As for the sourcing of the items and stock management, the eCommerce models are as follows:
In this Model, the shipping of products is outsourced by a 3rd party. This business model is mostly used by eCommerce stores that are always busy running the operation to ship them. Fulfillment by Amazon lies under this eCommerce store category.
With the help of the drop-shipping Model, the eCommerce store collects the products and goods from a wholesaler or a manufacturer to sell them to the visitors by appending some Commission. For example, suppose you have and Ecommerce store where you add products from a third-party website such as AliExpress with comparatively higher prices. Once your store becomes famous on the web, it targets all potential customers through various digital marketing channels and ads. Dropshipping gain popularity in the market when Ecommerce drops shipping platforms such as WooCommerce, PrestaShop, Shopify went mainstream.
According to the eCommerce model, the subscription model enables the user to subscribe or buy a particular service for a specific period, usually monthly or annually. At the time of expiry, the user can discontinue the subscription or renew it if they like it. Five Four Club is one such example of the subscription model.
It is easy to set up this business model in today's world using better digital payment models. Under this Model, the users or the companies can rent or loan out a digital or physical product monthly. This Model also includes lending money for gaining interest.
In the white label branding business model, goods are reduced by one company, and then they are later rebranded and distributed by another company. When such an example of this is the influencers on social media accounts that sell white-label products, this Model is considered beneficial. You can use the foundation, which another outsourcing organization already sets up.
Business model and Ecommerce store lists are placing the product on the store. So, whenever the user place is an order for a particular item, the store picks that item from the supplier and ships it to the user. This is considered one of the best ways for people with a lower budget with no warehousing space.
Some trades of a particular product are offered to the user for free of cost, and they have to pay for the rest. Hootsuite Is one such example that follows this approach for its social media scheduling service. It offers a limited number of scheduling posts for free.
Most of the eCommerce store has their warehouses 2 store their products in them. The available products in the warehouse are then listed on the websites, and when the buyer purchases them, they are directly shipped to them from the warehouse.
In wholesaling, the eCommerce store sells the products or goods in bulk at a lower cost than the general market. When it comes to the wholesaling business model, Alibaba is considered one of the biggest examples. Alibaba is a famous platform for small and large wholesalers who worked with worldwide businesses.
An engine that is always behind the scenes of Ecommerce software, online stores help manage the inventory easily, evaluate the taxes, add or remove the products, and everything needed to handle a website and the orders.
The warehouse management system software application helps with the routine operations of the warehouse. This software application offers a centralized system that enables the user to handle and manage All the jobs with the help of a help health device performing in or on a desktop in the office. This generates efficient and easy operations of a website by ensuring minimal losses in the different warehouse processes.
The warehouse management system is considered a champion among the most complex and basic parts of an eCommerce business. It includes shipping, picking, getting the products, checking orders, and different other tasks. It offers unified permeability and control on all the Warehousing tasks and stock development.
The management and supervision of a product or service from scratch tell its conception is considered to supply chain management. The supply chain management enhances the flow of information, financials common materials for the businesses and consumers. Product planning, execution, designing, monitoring, and control, everything is involved under this system. The major goal of this process is to enhance the transaction speed by lowering down the inventory and improving the workflow.
A quick and secure supply chain is considered the prime aspect of the eCommerce business. Supply chain management can decrease the cost and improve cash utilization in the Ecommerce business. Then customers purchase a product from an eCommerce store, expect to get it delivered quickly. Various eCommerce websites are launched every day, but the consumers only choose those websites that offer an impeccable supply chain to deliver the product at the correct time.
Product information management, or PIM, also known as a central management for product information, is used for multiple internal and external channels such as online stores, printed catalogs, ERP systems, etc. The PIM Assists complete planning, development, enrichment, product information release in all the required channels.
The software extension, PIM, also integrates with the online eCommerce platforms such as data sources, Magento, Channel's end software systems. The product information management systems also work as a multi-channel marketing software tool that enables businesses to control their eCommerce approach. It can also track all the inventory data and get a log of the company in real-time by sharing it correctly with all the sales channels.
The marketing team considers this process for handling all the marketing approaches by applying sales techniques and managing sales activities. The major goal of a sales management team is to complete the business target of attaining the required sales or exceeding them ideally. The marketing mix of the organization completely handles the sales management and marketing.
Management and marketing programs enable the businesses to create a strategy of their choice by building marketing campaigns, selling in various situations, and performing different marketing consultants. These opportunities help create the skills required to accomplish all the business goals regarding sales, customer service, marketing, wholesale sales, or business management.
The total count of the goods, products, and services you offered to your customers is considered inventory. All the products are cataloged and arranged into an inventory management system. The products stored in the catalog can be in production goods, raw materials, or finished products. Most of the eCommerce businesses only store finished products to offer flexible services to their users. Inventory management is considered an important aspect to expand the sales of a company. According to the shelf life, some businesses focus on moving the inventory much more rapidly than others. In this case that too much inventory will result in increased business expenses and reduced revenues.
After mobile phones, the most recent trend in the market is artificial intelligence development that helps pick the responsibility perfectly and smartly. Most of the eCommerce companies are now integrating various to generate AI features. The AI chatbots in their websites generate new leads and offer enhanced client experiences to the users. Some of the techniques that can be used are:
· The process of writing a description about the products can be automated with the help of artificial intelligence
· Modern warehouse is integrated with AI robots that can easily sort and retrieve stock items round the clock.
· Machine learning and artificial intelligence can also be integrated into security solutions
· To improve the smart search experience for users, the image processing feature can be used.
· AI chatbots Are also being integrated with eCommerce stores to offer a personalized experience while attending to customers
· Customers expect that search the product-related recommendation should be available for their ease
· Appropriate strategies can be used for tracking the user behavior
· Voice search for smart customer-centric product search
This feature enables the user to create an account on the website. They can either set up their account by registering with an email address or using social media accounts for quick login.
With the help of chatbots, speaking directly to the customer support team round the clock becomes easy for the consumers if they have any problem regarding the product, order, payments.
Various Payment Gateways
The integration of multiple payment gateways in the eCommerce website for your customers can help them quickly make payments for an easy shopping experience.
Multilingual and Currency
This feature enhances the flexibility of the eCommerce website for your users. As the Ecommerce website will be accessed by users from every corner of the globe, the integration of multiple languages and currencies can help them use the app and make purchases easily.
Videos are considered one of the most effective ways for prominent Internet businesses. It enables the claims 2 see the advantages and uses of the product directly from the application. Moreover, it can also be used as an in-store sales representative for engaging customers to purchase a product.
Shipment is also an important element of the eCommerce business. All the eCommerce service providers and traders work hard to ensure that the shipment process is going as productive as possible. Keeping the shipment process productive is to keep up the enhance consumer satisfaction through quick order fulfillment.
CRM helps keep up a long-lasting end satisfying relationship with the customers associated with the website. It also enables the consumers to ask for help if they are stuck with any problem while using the website. It helps in staying connected with the customers to keep them engaged. Also, the clients can share their improvement inputs regarding the website.
The Revel-based dashboard, which the modern ERP system offers, allows the users to configure, craft, and handle custom dashboards according to the roles. They offer comprehensive visibility in various areas such as accounting, operations, and more. Although the dashboards offer more than customizability, they can also render many profits for the business. The dashboard is a significant feature for the admin as they can monitor all the users registered with the website.
With the combination of top-class technologies and approaches, business intelligence offers the most important information, which is useful for the business and the consumers. It enables the enterprises to store the raw data for processing it and then later picking up the information while saving time and energy. Moreover, it also assists the enterprises in making the decision more effectively. So this is the reason why some eCommerce specific stores require business intelligence to maintain their business.
Client behavior analytics is one of the most significant factors for examining the claims. It helps keep track and understanding of the client's activities on the website to offer the best details to the users. In this way, when a client collaborates with the website, the behavior tracking can be used to understand the client's behavior for serving relevant services and offers.
Advanced eCommerce Analytics
The administrator can observe websites that are coordinated with progress analytics for certain return advantages. Useful insights related to the total number of orders received, shipment dispatch details, claim security, and delivery information, and so on can be easily monitored with eCommerce analytics.
The admin panel is integrated with various tools such as add manager, social media campaign monitor, SMS blaster, etc. From a single panel, the admin can easily manage and monitor all the marketing activities and view various reports to enhance marketing and sales.
Attracting UI/UX Designs
To offer a flexible, easy-to-understand, smooth and fast shopping experience to the users, creating a perfect UI UX is essential that pumps up when a visitor arrives on the website. If your eCommerce website is also integrated with a unique UI UX design, it will easily attract visitors to enhance the traffic on your website.
An Ecommerce loyalty program is used for engaging and holding the existing customers so that they make purchases in higher quantities or interact more often with the brand. It is a marketing approach that benefits the potential and loyal customers who frequently engage with the brand.
Java, C, HTML
Azure, IMB SoftLayer, Google Cloud
Testing and Debugging
Data Analytics Solutions
Amazon and Google
Social Media Sign-up Plugins
The development team is the most crucial aspect of eCommerce website development, so you must know about the specification of each individual. The ideal team required for developing an eCommerce website is:
· Project Managers
· Team Managers
· Technical Experts
· Business Analysts
· UI & UX Designers
· Frontend and Backend Developers
· Quality Analysts
It is impossible to calculate the exact cost of eCommerce website development as multiple factors decide the cost. some of the most common factors are:
· UI UX development
· Size of the development team
· Integration of third-party APIs
· The location of the eCommerce web development company backend and frontend development
· Time invested in the development
· Size of the development company
As discussed above, multiple factors affect the development cost of the website. But keeping the above factors in mind, a rough estimation can be calculated. The cost of developing a new eCommerce website with a simple design Will cost around $1500. If we divide the cost factor according to the business range, then the cost will be:
For SMEs and startups- $30,000 to $60,000
For mid-sized businesses - $80,000 to $1,35,000
For large enterprises - more than $1,35,000
So, after completing this long journey of eCommerce website development, you might now have come up with some ideas and concepts for an eCommerce website for your business. If you are still confused, you can contact us. We are very much excited to hear your ideas.
Visitors are no longer motivated by the price of products or services. It's now all about the user experience (UX). A study found that its user experience influences 94% of first impressions of a company's design.A CRM is a customizable, simple platform that gives an organization...
Mobile phones are becoming a part of our lives and not just the personal life – it is contributing immensely on the business side too. Mobile applications have become far smarter, and that shows in the idea behind the amazing applications we use.
Artificial intelligence (AI) is already changing our lives and working habits. Many people are unaware of the impact AI has on web development. Here are five ways AI is evolving web development, from user experience to site design.
Artificial Intelligence (AI) is a developing force in the innovation business. Artificial intelligence is becoming the center point at meetings and showing potential across a wide variety of projects, including retail and manufacturing. New items are being integrated with virtual...
Why do You select one item over another the other? Why would you recommend a brand or product to a friend?Reputation Dividend conducted a study on the impact of brands on sales and discovered that 80% of consumers base their purchasing decisions on companies with good...
If you’re looking to hire new developers, designers, coders, or programmers, Coder.Dev is here for you. We provide scalable solutions in IT staffing at affordable prices with a transparent process and faster turnaround time. Hire top-tier talent without the headaches today!
Elora is a hard worker and always willing to take on new challenges. Having an innate curiosity for learning make difficult task manageable. her tenaciousness can often be seen through enthusiam and d...