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Retail App Industries

Retail App Industries

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Thunderrise

Market Overview

The mCommerce sales are predicted to overcome $240 billion by 2020, which almost doubles the 2016 figure of $123 billion.

According to AYTM, 71% of retail app users admit that they are much more convenient than websites, 54% use apps for shopping regularly, and the whole of 46% decided that they’d even prefer shopping applications to websites.

Yet only 32% of the respondents appeared to use shopping apps, so it is still a growing market.
Retail Application

Application’s Main Features

We all probably have our own idea of what a perfect online store must be. Of course you cannot shove everything into one app, but there are some irreplaceable points in a mobile retail application that bring it closer to perfection:

  • Relevant and regularly updated content
  • Item’s price and availabiity
  • Brief but essential product description
  • Shopping cart
  • Payment service
  • Customer support
  • Location and tracking
  • Discount codes and special offers

It is up to you to add price comparison, different payment gateways, currency converter, feedback and all that jazz, and of course don’t forget about the UX and UI!
Retail Application

However, as retail applications are literally aimed for making money, they might be kinda tricky to monetize. You can’t make it freemium and there are hardly any possible additional features that would be worth paying for. So the answer is ads. But once again, it is a thin ice, and you gotta be careful and really think your advertisement program through, so it doesn’t put the costumes off, but is still efficient.

How to Create a Retail App

It is not the hardest task on the mobile development planet, but it does require hard work and attention to details.

These are the supreme points when it comes to creating a mobile retail application:

  • Registration and authorization
  • Shopping basket
  • Products categorization
  • Geolocation services
  • Payment gateway
  • Social media integration
  • Design

Also, if you already have an eCommerce site, make sure to integrate it with your retail application!

Do you have a question?

A note from Thunderrise:

Developing these features takes about 500 hours, and a team of iOS dev, Android dev, web dev, and a designer will be able to finish off in about two month.

Sure enough, one cannot state an exact final estimation right of the bat, it all depends on the desired features and developer’s hourly rate.

If you want to get an estimation and develop your own retail app, make sure to contact us.

Go here if you you are interested in getting more information on the topic.