ECommerce is a fast-growing industry providing the convenience of shopping from your home on your mobile device. The brick and mortar stores in the retail industry will never be able to fight this convenience, and by 2040, it is estimated that more than 90% of all shopping will happen through eCommerce platforms.
While you are planning to start your thriving retail business in the digital landscape, it is essential for you to ensure that you have all the right components for your eCommerce website development.
To succeed in the world of eCommerce, you have to develop a custom eCommerce website, but you also need to be aware of how much an eCommerce website development costs. This will help you create a realistic budget for your plan and all the significant steps that are included in the process.
How Much Does It Cost?
Various factors contribute to the cost of an eCommerce website development. Unfortunately, there is no simple answer to the question.
The most common answer to the question at hand is “well, it depends…”
Based on what components you are looking to incorporate into your website development, an eCommerce website development can cost from something from $1000 to $1 million. Although these are just the two extreme ends of the financial spectrum, realistically, you have to be able to look at the long-term goals, determine all the features you need to achieve your goals, and develop a budget with all these features in mind.
Factors That Play a Major Role in Ecommerce Website Development
Here are some of the significant factors that help you determine the estimated cost of developing a reliable eCommerce website.
Content is a vital factor in the success of an eCommerce platform, and it is not free. Content for an eCommerce website needs to be highly optimized and engaging to help draw people to your website.
While some businesses prefer to develop their content in-house, others outsource their content requirements to outside agencies. So unless you or someone in your organization is a practised SEO content writer, you should let other agencies tackle your content requirement.
There are a large number of eCommerce platforms to choose from, including WooCommerce, BigCommerce, and Shopify. These platforms have different payment forms, while some take a percentage of your sales, others require an annual subscription fee. All these factors are essential when determining the ROI for your website.
One of the most significant expenditures for your website post-development is marketing. A marketing budget is a colossal factor irrespective of your types of marketing. It is essential to have an estimated budget for your marketing efforts, including SEO, social media advertising, Google Ads, etc. and are all part of your custom eCommerce website development process.
When selecting a marketing platform, it is crucial for you to choose the platform depending on your product or services, and your target audience.
Profitability is an essential factor when it comes to eCommerce website development. You do not want to develop a website so expensive that it takes you years before you can think of a considerable RoI.
There are three significant factors to look into when you want to develop any website:
- The time taken to create the website
- The quality of the website
- The cost of the website
Unlike what most would expect, not all websites are fast, good, and cheap. In reality, it is known as the trade-off triangle, which lets you choose any two factors from the three. So when it comes to cost, you have to compromise on quality or speed. Hire Full Time Developer India to get your website development customized according to your requirements.
Content Management System
One of the major decisions related to custom eCommerce website development is the Content Management system used for your online store. A CMS platform doubles as an eCommerce website builder and allows you to create and publish content on your eCommerce website.
Popular CMS platform for eCommerce website development is WordPress, Shopify, OpenCart, and BigCommerce. A content management system might cost you from $0 per year to $15000 depending entirely on your choice.
Implementing your eCommerce system is a pivotal step in the creation of your eCommerce website. You want to find the best eCommerce plugins for your business and the cost of your eCommerce functionalities depend on only what you are looking for in your eCommerce website.
Developing these functionalities for your eCommerce website will cost you from $1000 to more than $100000 depending on the scope of your development project.
Maintenance and Support
Every website needs regular maintenance. With the changing digital landscape, you will want to update website elements, add new features, and revamp the website with engaging contents for your audience based on their preferences. You will have to consider the cost of maintenance into your annual budget.
Typically, it is a good idea to allocate $1000 to $50000 per year for all the updates and maintenance you require for your website.
Approximate Cost of Development
Although the cost of a custom eCommerce website depends entirely on the functionalities, features, and website requirements, several additional factors come into play that significantly change the cost of website development.
Here is a list of the significant features an eCommerce website should have:
- Product management
- Shopping cart
- Payment module
- Coupons & Discount offers
- Multi-language support
- Personalized suggestions
- Time Frame
An expert developer will take around 3 to 6 months to develop a small size responsive website. In comparison, a medium and large size custom website development might need 6 to 9 months of development time. Hire Magento developers in india and get your custom website developed today.
An eCommerce website is an easy and affordable choice for business compared to a brick and mortar store. Moreover, the cost of an eCommerce website is considered a long-term investment as the direction of the retail market is swinging.
An essential website with major eCommerce functionalities will cost from $2000 to $6000 if you keep things low-key. By understanding all the aspects that contribute to the development cost, you can develop a smart budget for a better ROI from your eCommerce website.