Ecommerce has shifted the way people sell and buy. From traditional brick-and-mortar stores to establishing online marketplace, businesses today focus on the global audience across different countries and time zones. Even small and medium enterprises approach an ecommerce app development company to develop efficient eCommerce applications that can open the doors to new opportunities to grow their business. Buyers can browse the products and purchase them at any time according to their convenience.
Today, eCommerce platforms have a global impact on businesses and the economy. The sales conversion rates from eCommerce mobile apps are three times more than those of other platforms. Around the world, Asia stands first in fetching the highest total eCommerce revenue with two trillion US dollars followed by the US.
Top Leading eCommerce Players of The World
The below statistics will surprise you as these companies have set the world ablaze with their aggressive impact on the world economy. You can hire dedicated developers to create similar eCommerce applications for your business.
- Amazon: Market cap of $1.4 trillion and considered the most mobile-friendly e-commerce website with its core revenue from AWS.
- Walmart: Intuitive online platform and earns a market cap of $430.6 billion
- Alibaba: Chinese multinational organization specializing in retail, eCommerce, internet, and technology with a market cap of $257.7 billion.
- The Home Depot: An American giant with a market cap of $333.1 billion has online and in-store sales, including different tools and construction products.
- Prosus: A Dutch firm with many online brands like PayU, Delivery, Hero, OLX, and PharmEasy.
- Reliance Industries: A company dealing in energy, petrochemicals, natural resources, textiles, retail, and telecommunications, has recently made eCommerce investments with a market cap of $210 billion.
Why You Must Have a Mobile Application for Your Retail Store
- Improves customer engagement through smartphones, giving them promotion alerts, special deals, social media integration, etc.
- Enhances brand loyalty by giving personalized experiences, special discounts, and promotions to customers.
- Increases sales by easy browsing to purchase products, and shop from anywhere anytime without visiting the physical store.
- Easy checkout process and faster and quicker payment options that are convenient
- Helps automation of tasks regarding inventory management and orders through app integration with existing systems
- Gathers valuable data from customers to understand their shopping habits, demographics, and preferences. It helps businesses to get valuable insights through data analysis and to frame sales strategies.
- Differentiate your brand through a smart mobile app that ensures customer attraction and customer retention.
A well-established mobile app development company can facilitate you to build a robust eCommerce mobile application and get all the above benefits.
What Are Different Types of eCommerce Mobile Applications?
- B2B (Business to Business)
- C2C (Customer to Customer)
- On-Demand
- Marketplace App
- M-Commerce (Mobile Commerce) App
Trends Found in eCommerce Application Development for 2024
Mobile Shopping
In the last few years, mobile shopping has increased rapidly. In countries like the US, mobile eCommerce sales increased up to 360 billion US dollars. And in 2025, the figure is expected to rise to 710 billion US dollars. As mobile devices are becoming popular, eCommerce platforms are leveraging the sharp rise in mobile usage by considering mobile optimization strategies to improve customer experiences.
Voice Commerce
Another trend seen rising is voice commerce with the growth of smart speakers and virtual assistants. Voice technology is now seen integrated into several eCommerce apps and websites to provide easy shopping experiences that save time. Through a lot of technological advancements and market surveys, voice technology provides exact choices that customers prefer to have.
Augmented Reality
AR is the rising technology that once again highly influences eCommerce mobile applications. It is changing the way people shop nowadays. Customers can virtually try on clothes, view furniture in their homes, and check the makeup on their faces. All this is made possible by the integration of AR technology in the eCommerce mobile application.
Artificial Intelligence
Artificial intelligence is the future of eCommerce heading towards providing enhanced customer experiences through personalized recommendations, tailored pricing strategies, and targeted advertising. Hence, the role of Artificial Intelligence in eCommerce is to help eCommerce mobile apps provide enhanced customer engagement, increase brand loyalty, increase conversion rates, optimize inventory, and streamline shopping journeys.
Social Media Integration
Social media integration is getting more crucial at every stage of business expansion. Integrating social media into eCommerce mobile applications can help businesses reach a wider audience and increase their social media presence. With this, customers get better user experiences and they can share their favorite products with friends easily. In addition, it also helps in getting real-time customer feedback, seamless purchase journey, enhancing customer engagement, and helps obtain user-generated content integration.
Progressive Web Apps (PWA)
For several eCommerce companies, progressive web apps are becoming more popular as they are designed to work seamlessly with all devices. They work faster than any other traditional apps and offer seamless user experiences.
Mobile Wallets
Through mobile wallets, customers can easily make payments by using mobile devices. Mobile wallets are meant to safeguard customer transactions, unlike traditional payment methods. It uses encryption technology and protects customer information.
Subscription Based Services
Subscription-based services are on the rise and are mostly seen in beauty and wellness products. It offers products regularly through monthly and annual subscriptions. Subscription-based services have gained traction recently and are used by various other sectors to build customer relationships. The overall benefit of such services is to customers as well as to businesses. It provides predictable revenue streams, tailored customer experiences, data-driven insights, cross-selling and upselling opportunities, and improved customer retention.
Personalized Chatbots
Chatbots are those sophisticated conversational agents called digital companions. They understand the context of your messages and the emotions and intent behind the words. Through such developed understanding they provide personalized experiences that feel like human. Chatbots are now used for eCommerce platforms to enhance user engagement and to provide personalized experiences.
OmniChannel Retail Will Be the Future
Omnichannel retail will be the future of eCommerce and customers will shop across multiple channels like online, in-store, and mobile. Hence, customers will get seamless shopping experiences irrespective of the place from where they are shopping.
What is the Cost of Building an eCommerce Application?
You must consider several elements to determine the cost of building an eCommerce mobile application. When you collaborate with a known software development partner, you will understand several factors such as app complexity, design, features, and the platform you choose. Including such factors, the company provides a rough estimate. You can approach a reputed eCommerce app development company to know the actual cost based on your project needs.
Developing an eCommerce app in the US and UK will be higher as compared to developing the same kind of app in Asia and Latin America. You can hire dedicated developers and consult to determine the cost of building an eCommerce application for your business. The average approximate cost is based on customer needs and requirements. However the approximate figures as below:
| Country | Approximate Average Cost |
|---|---|
|
USA |
$50,000 to $100,000 |
|
UK |
£50,000 to £200,000 |
|
Asia |
$10,000 to $70,000 |
|
Latin America |
$10,000 to $100,000 |
Conclusion
To develop an eCommerce mobile application needs intense research, knowledge, and abundant experience. If you collaborate with the experts, you can create distinctive and stunning eCommerce mobile applications that are feasible, scalable, and can gain higher traction. Whitelotus Corporation is the leading mobile app development company building robust eCommerce mobile applications. We have a team of top-notch eCommerce app developers who are experienced and have knowledge about the latest trends and technologies. We can help you create custom eCommerce apps that can fulfill your business needs and provide your customers with exceptional user experiences.
