Shopper habits are changing rapidly, and a website with eCommerce functionality that meets them is becoming the most popular shopping destination. Today, there are 9 million online stores, which are used by over 2 billion people. And in the coming years, the eCommerce market will grow.
If today 20% of retail is online, then in three years, the volume of sales will grow to 25%, and by the end of this decade, it will double.
Moving your business online provides great potential to increase your sales reach. But it is important to correctly determine the eCommerce website development cost in order for the investment to be justified. Let’s take a minute to talk about the major components to consider.
What To Consider?
In order not to be put off by the common eCommerce site development cost, you need to make sure that the solution can meet the needs of the business. An essential factor is the choice of the underlying type of online store.
Type Of Online Store
At the planning stage, it is necessary to determine how many and which products will be included in the assortment and whether they will be offered globally, as well as to other enterprises.
The functionality and choice of platform depend on this and, consequently, the cost to create an eCommerce website. On top of that, the site that sells goods differs in this respect from the site offering services.
You have a couple of well-tried options here:
A platform with a clean user interface that helps you get started quickly with several readymade plugins.
There are on-premise and cloud options with more customization options and ad management tools, but you’ll need a developer and hosting partner. The Open Source version is free, and Magento 2 is considered optimal for B2C and B2B segments.
Built for small businesses. The cost to develop an eCommerce website is minimal with this one. Makes it pretty easy to create and run a website. However, additional applications or custom coding are required to add advanced features.
Note that the largest trading platforms are starting to increasingly use blockchain development services that help optimize and ensure healthy competition in the eCommerce market.
The more features you need, the higher the eCommerce website development cost goes. Determine the baseline or optimal set of features based on your current budget and future development of your project.
If you already have an inventory management system, look for a platform that can integrate with it if you don’t want to use a new solution. The cost of building an eCommerce website also depends on the number and type of modules and extensions used. Settle shipping options – what regions is your store to cover, will the service be global, and will it be outsourced or managed on your own?
Even with the most in-depth functional platform in hand, you will have to do some work on your own. If your team lacks certain bits of expertise, it will make sense to involve external professionals. But choose wisely – do not focus on single freelancers. You need a proven professional team ready to jump in.
In Eastern Europe, the developer hour is priced much lower than in developed countries. That is why you should certainly turn to an offshore NFT marketplace development company such as Artjoker.net, which has extensive experience in developing functional and convenient market platforms.
You may as well launch a simple website for less than $1,000, but for a long-term successful business, this will not be an effective solution. Hundreds of thousands and millions have been invested in platforms that have become popular and profitable.
At the initial stage, crazy investments will not be required, but you will have to take into account the basic items of expenditure.
The cost to build an eCommerce site is shaped in a major way by:
- Design and software;
- Domain management – up to $20/year (depending on the place where you buy a domain name and its type – .com or .shop);
- Hosting – $80-750/month (when subscribing to BigCommerce or Shopify);
- SSL certificate – up to $70/year;
- Additions and extensions.
Major platforms offer a wide range of free and paid web design themes (costing up to $200).
Shopify gives access to hundreds of apps at various prices. Magento add-ons require custom development, which can be costly. The platform offers free and paid extensions ( costing up to $15k).
With BigCommerce, you can choose between free add-ons and premium options. The subscription payment model allows you to save significantly (up to $30K per year compared to Shopify).
To sum it up, keep in mind that dramatic savings will have a negative impact on site performance and your sales. Design and development are the biggest expense item.
To minimize financial losses, contact ARTJOKER to make an eCommerce website that is fully consistent with your business strategy.
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