How much does it cost to create an on demand shopping app like Wish?
Updated on May 28th, 2021
A pandemic, COVID-19, is growing daily and triggering a global economic downturn, right nowadays, the situation is extreme, and everybody is attempting as fast as possible to find an exit from it. Although some industries and businesses are facing heavy losses and deficits, there are many other industries which have never considered a significant gain in sales and profit. The demand for products and services has increased, and the rise in on-demand shopping app is rising exponentially. Owing to the pandemic, the online shopping industry is growing like never before.
The current era has already seen the e-commerce industry’s unexpected acceleration, which is steadily growing with advancements. Quick shopping, shopping in the comfort of home, office or wherever you are, and getting a driveway delivery have all come together to improve the shopping experience and created a new perspective.
Let’s take a quick look at some of the statistics according to Statista’s report.
- Sales in the eCommerce industry will rise to 365 percent by 2021 compared to 40percent in 2014.
- It is predicted that global online retail sales will total 17.5 percent by the year 2021.
- Compared to 2014, online customers have grown from 1.32 million people to 2.14 billion people by the year 2021.
If you ask anyone near you, “Did you bring any online shopping products with you?
Of course Yes” is the anticipated response from many of them. Every day the online shopping industry booms. For many of these retailers who are planning on making their way into this market, it has become a boon.
If you are planning to build a mobile shopping app like Wish? If so, read on.
Well consider the following,
- As per Statista reports, eCommerce sales globally is predicted to reach 4878 billion dollars by the year 2021.
- Over 63percent of US online traffic comes from mobile phones and tablets.
- Around 79percent of users have purchased mobile devices in the last six months.
Through this blog, we are going to help you in finding the dept information about creating an on-demand shopping app like Wish. Aside from the above, you will learn about its features and functionality, the wish app’s creation process, and plenty more.
So without any further ado, let’s dive right into the subject line.
Why is the on-demand shopping app so demanding nowadays?
As you are all conscious, because of the current scenario and even before, most of us are heading towards buying goods online as it enables the comfort of shopping straight from home. Below are some reasons behind colossal demand:
- Profitability in customers and sales – In a way that maximizes your selling curve, online on-demand shopping apps are created. Without time limits, consumers are made happier with the global scope of the goods. Your shop is open 24X7 for them, and so they can shop throughout the day and night for your goods or services.
- Customer Allegiance – You are more efficient with your online presence. Most consumers now have smartphones every day, so recommending them to install your app to satisfy their everyday needs makes it much more comfortable and safer for your customer experience.
- New Sales – When you move online, you will undoubtedly be able to draw more customers. Moving online also ensures that you can attract frequent clients.
Each year, e-commerce contribution to global retail has been growing. This is the same traditional system, with such a switch of the channel, of buying and selling goods. ‘E’ is about this medium, the electronic medium in the context of eCommerce.
- Business-To-Customer(B2C) – When we talk about e-commerce, we generally understand this. Customers here purchase products from firms. There are ‘Shops on the Internet.
- Business-To-Business(B2B) – This is how internet trading and wholesale transactions take place.
- Customer-To-Customer(C2C) – Here, the buyer is one consumer, and the seller is the other. I’m sure you’ve leveraged the process of this online deal.
Well, there are various on-demand shopping apps in the market, but for now, we are talking about one of the most popular apps “Wish”. Let’s move forward and discuss why you should create an app like Wish?
Know more about Wish
The Wish app, created by Context Logic Inc., is the biggest online shopping platform in the USA. The Wish App was founded in 2011 by Peter Szulczewskito and Danny Zhang. In Great Britain, it is a service, and the USA has used consumer desires to create a wish list. It’s an enjoyable shop on the Wish platform, where you can find anything from clothes to groceries.
The Wish app has developed into a full-fledged e-commerce site today and is now the #1 mobile shopping app in 42 countries around the world. It has successfully raised $1.3 billion in multiple rounds of funding and retains a share of the market of 500 million users, 1 million online retailer establishments, including nearly 80 million monthly active users. The company had a revenue production of $1 billion as per last reports and was priced at $8.5 million in 2017 with consistent growth as years have gone by.
Wish in numbers and figures
- Eight years of experience in the eCommerce market.
- Over 900 employees and over 1m illion+ merchants.
- Over 80+million visitors during the last four months.
- It is valued 11.2 billion in the year 2019.
Five handy solutions Wish to their users.
- Wish for the merchant – That’s an administration panel for merchants that they use to trade efficiently. There are several tools and features in the Wish application for merchants which make online transactions quick, easy and convenient.
- Wish Geek – That’s an administration panel for merchants that they use to trade efficiently. There are several tools and features in the Wish application for merchants which make online transactions quick, easy and convenient.
- Wish Home Decor – Guess what you should buy here? You’re right, yes in the assortment of the Home Decor app, home accessories and interior details.
- Cute Wish – This is an app that’s girlish. Here, people can search for makeup and cosmetic items, shoes, clothes and similar products.
- Wish Shopping Mama – Merchants show their baby items for sale here. The range includes toys, accessories, child-care products, apparel, etc.
As of now, we discussed everything in quite a detail. Moving on, without taking much of your time, let’s discuss how to create an on-demand shopping app like Wish. So buckle up and be ready.
How to develop an on-demand shopping app like Wish?
We all know app development is not an easy task; it takes time, efforts, ups and down to build a top-notch solution. Don’t worry, we got you, below we’ve mentioned essential steps which help you throughout the development process of the app that sells. Each of these measures must be given precise attention, namely.
Steps to follow
1. Do market research
Offer a solution that makes it simpler if you’d like to build a shopping app. For starters, with just a click, Amazon initially helped individuals get books at reasonable prices. Places like Wish cover the need for profitable deals. While speaking about how to create a shopping app, the problems your clients would like to have resolved ought to be an initial step.
2. Define your strategy
What and how are you going to represent your clients? While thinking about making a shopping app, this is a problematic issue. Find the following to appreciate the nature of the upcoming work better:
- Whilst using the app, three primary acts users can perform.
- The scenario of first user contact.
- Actions on how to technically build a shopping app, note out tech stack to be used, define cost and deadline, mark all possible risks.
3. Define app features and functionalities
Features play a vital role in the application’s success. Once you begin with developing an app, start with the critical features that make your application stand out from rest. Below we’ve listed a table of must-have features along with advanced features,that you can consider in your on-demand shopping app like Wish.
4. Choose the right tech stack
Right, and the best tech stack is must for developing the top-notch application like Wish. You have to choose your technology stack carefully and smartly. Discuss the features and functionality of your application with your team of developers so that they can select the best tech stack. Below we’ve listed the tech stack our experts use for developing on-demand shopping apps like Wish.
- Front-end – HTML5, CSS3, Angular JS, Jquery, React JS, Vue JS.
- Backend – AWS, MS Azure, Google Cloud.
- Database – MongoDB, MySQL, SQLite, IBM DB2, Hbase.
- Payment gateways – PayPal, Stripe, Braintree, Mangopay.
- Analytics –Hadoop, BigData, Spark, Apache Flink.
- Push notifications – Twilio, Amazon SNS, MAP.
- For android – Java, Kotlin, Node JS, ROR, Laravel.
- For IOS – swift, Node JS, ROR, Laravel.
For the healthy future of your Wish-like application, your team of developers should have the following people who are experts in their skills.
- Product manager.
- IOS/Android Developer.
- Backend & Frontend developer.
- QA experts.
- UI/UX designers.
- Business analyst.
5. Select Revenue Model
You have had to settle on a monetization model to create a website like Wish. We looked at the simplest way to make a profit on an e-commerce site like Wish, here’s a few of them:
- Freemium – You allow customers to enter your marketplace by offering some features for free. You make them spend cash on your app by expanding their possibilities with much more modern, convenient features. In order not to drive users away, retain the “free features – paid features” balance. Pricing and quality are also important: demanding a lot of money for dubious features, damaging your image and losing the preference of users quickly.
- Charge a fee – Very clearly, fairly rational enough. For each good buy, you charge vendors. This model draws those who may not sell too much because they wouldn’t have to invest in rare sales with cash. So if your marketplace is not yet iconic, this could be the right choice.
- Advertising – Good old commercials drive this planet forward. If you can show impressive metrics, advertisements can also move your company forward. The number of visitors should be significant enough to make businesses pay for advertising on your website to use this model.
6. Design App’s UI/UX
User-centred design is critical for the success of your app. Meet the specifications of the guidelines for Android and IOS to accomplish this. The above mobile platforms, as you might know, dominate the industry, and almost 100 per cent of consumers use perhaps an iPhone device or an Android OS device. Remember that shopping apps such as Wish are often designed according to 2-tap or 5-point guidelines, which means it really should take only two taps to get what a user needs, and there should be no upwards of five key design elements within the interface.
7. Launch & test your application
Deployment reveals whether the attempts to create a shopping app have succeeded in bearing fruit. At this point, 50 per cent of performance goes to appropriate quality assurance and testing, which includes the incorporation of analytical methods, development beta testing of the product and the collection of metrics once the app is released.
8. Promote your app
The first real move is releasing an app on the App Store and Google Play. Nonetheless, only 10% of applications are frequently used and regularly installed. To increase your app chances, do the following practices:
- Do ASO “App store optimization”.
- Work with influencers, social media, press releases etc.
- Create your app’s landing page.
- Run a marketing campaign.
Cost to develop an custom shopping app like Wish?
Well, defining development cost depends on various factors like application complexity, features and functionality of the app, platforms to be used, technologies to be used, location and hourly rate of your developer.
Who considers applications with essential features in this highly competitive industry?
According to experts, the more advanced features your application has, the more it will do wonders in the industry. Application with additional features will increase the development cost.
Note – Don’t get nervous by the cost, trust us it’ll be worth it
We hope that you are happy with the data and information given on how much it costs to create an on-demand shopping app like Wish. You can contact us if you are still unsure about making a platform such as the Wish shopping app. Matellio has specialists who are well experienced in the creation of mobile or web shopping applications. Please feel free to contact us. We would love to serve you.
For more information, visit our website www.matellio.com.
Till then, happy reading!
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