Ecommerce Platform

How To Build An Ecommerce Platform In 2023: Great Instructions For You

In today’s world of cutting-edge technology, ecommerce platforms play an important role in developing the modern buying ecosystem and supporting online purchasing activities. Everyone knows the significance of having a well-built ecommerce website; however, not many learn the secret behind a successful platform.

Building an ecommerce platform includes various displaying features with specific technology stacks, requiring you to learn the best practice to successfully launch a website. The introduction of the digital marketplace can open a wide range of opportunities for you, regardless of your login role as a seller or a buyer.

As an eight-year experienced expert in the website development field, we are proud to say that we can help your business get an appropriate approach to useful solutions to optimize your sales records. In the following article, we will help you learn useful tips to deeply understand certain steps to build an online platform. Let’s get started!

Ecommerce Platform

1. Overview Of Ecommerce Platform

Ecommerce platform is the business term to show the process of selling and buying goods or services on the Internet. There is no limit on the product field you want to establish and operate on the platform, giving you the freedom to start your own business without difficulty.

As there have been several changes in the international market thanks to the rapid expansion of Internet users worldwide, online transactions will become an important part of global retail. The potential of doing business on a digital platform is enormous, allowing you to gain benefits from the purchasing process with different customers.

While the ecommerce platform is said to total $6.3 trillion in 2023, it is expected to be valued at over $8.1 trillion by 2026. With the fast-growing rate of online transactions, there’s no wonder why more and more people are starting their ecommerce business as a shortcut to earn money.

2. Online Marketplace Features

2.1. Registration Process

For any ecommerce platform, registration process is a must for customers before starting their buying journey at the website. If you want to boost the customers’ experience, it would be best to create the most user-friendly design that will work well on both computers and mobile phones. Such basic information like name, date of birth, gender, email, and phone number should be included as the most important features of the platform.

Another popular way for a quick registration is to use the link between other social platforms and your website to help you finish the signup step in the blink of an eye. If you can take advantage of an easy registration step, your website will stand out from other marketplaces that require a complicated registration form.

2.2. User Profile

Collecting key information about both customers and sellers will help you manage and take control of the website’s function. Besides basic information from the registration stage, you can set up additional factors like payment method, delivery address, password-changing option. It will help improve user experience, making it easier for them to have the best time going through your website and making a buying decision.

2.3. Product Pages

When building an ecommerce platform, the product page plays an important part as it directly affects the customer’s purchasing decision by providing detailed information about individual products and services. It will help attract new customers and convert potential purchasers.

Some key features that can not be missed are product description, product visual, product price, and the review of other customers. By incorporating these features into product pages, you can create a user-friendly and engaging shopping experience for your customers. These features help to provide customers with the information they need to make informed purchasing decisions, which will increase sales and improve customer satisfaction.

2.4. Diverse Payment Options

Having multiple payment options to cater to the diverse needs of customers is crucial for the development of an ecommerce platform. These options can include credit/debit cards, digital wallets, bank transfers, and even cash on delivery.

The availability of various payment methods will make it convenient for customers to choose their preferred mode of payment, which increases the chances of completing a purchase decision. With the freedom to choose whatever method that suits them best, customers will have a more seamless and satisfactory shopping experience.

By providing secure and diverse payment options, your ecommerce platform can build trust with customers and facilitate smooth transitions, resulting in higher conversion rates for your business. That’s why it would be best to continuously evaluate the performance and update necessary features to align with evolving customer preferences and emerging payment technologies. 

2.5. Chatbots

Chatbots are virtual assistants that use artificial intelligence (AI) and natural language processing (NLP) to provide automated customer service. By integrating chatbots into a website or mobile app, you can help customers with instant support through a chat interface.

Chatbots can handle common customer queries, provide product recommendations, assist with the checkout process, and other personalized assistance as customers wish to have. With the introduction of chatbots, the ecommerce platform will enhance user engagement, improve customer satisfaction, and help you handle customer requests more efficiently.

2.6. Order Tracking System

An order tracking system is a key feature of any ecommerce platform that enables customers to track the status of their orders in real-time. With an order tracking system, customers can monitor the progress of their orders from the moment they are placed until they are delivered.

Thanks to this brilliant feature, customers can find peace of mind and stay informed about the delivery status of their purchases. In return, you can build trust and loyalty from your customers while streamlining their order management processes and reducing the cost of customer support.

2.7. Return Policy

A return policy is a crucial feature for outlining the rules and procedures to return products and request refunds. It mainly focuses on the conditions under which customers can return or exchange products, the timeframe within which returns are accepted, and the refund process.

When you include flexible and customer-friendly return policy terms in your platform, you are likely to gain trust and improve customer experience, leading to their purchase next time. As a result, you can also build a reputation for your business, which is a plus point regarding raising awareness about your brand image.

2.8. User Reviews And Ratings

If you want to improve the service and business performance, there’s no better way than integrating user reviews and ratings into the platform to learn more about customers’ shopping experience. This feature will provide valuable insights into customer preferences and behavior, which helps you adjust your business accordingly to meet their needs.

In addition, other shoppers can also benefit from this feature by taking previous feedback as a reference before making a purchase to ensure the high-quality product for their use. Reviews and ratings also contribute to the credibility and trust of your business, giving it an outstanding position when compared to other businesses.

3. Useful Tech Stack To Create A Successful Ecommerce Platform

If you have no idea what tech stack is important for your website building process, take a look at our suggestions below. There are several technologies we usually apply to our project with a high response rate from our customers. Depending on your business scale, you will know which option is suitable for your development stage.

Front-end:

  • JavaScript
  • HTML 
  • Angular

Back-end:

  • Node.js
  • Express 4
  • PHP 
  • C#
  • MySQL
  • Swagger
  • EC2

Integrations:

  • S3
  • Paypal
  • Amazon SES
  • Twilio
  • Stripe

4. Step-by-step Guide For Building An Ecommerce Platform

4.1. Choose Your Business Idea

If you want to start an online business, the first step is to decide on your ecommerce idea. It is advisable to take part in the field that you are good at or have an interest in if you want to make the best performance. The passion will keep your spirits up, allowing you to start the project and follow it without being discouraged when there is difficulty. 

Try to find a niche in a big industry that suits you the most to have a detailed insight of your potential customers and focus on them. The better you know about your online product, the easier it gets to find the best way to make you stand out from the rest of the market.

4.2. Select Your Ideal Platform To Build An Online Marketplace

Choosing the right platform to start your ecommerce will make a big difference in the way your business functions and generates profits. You can opt for the option of hosted or self-hosted, based on your ideal working practices.

A hosted platform means that you have a platform provider to start the website for you, meanwhile a self-hosted platform is the result of building on your own. If you are a beginner, it would be best to turn to the hosted option for a less challenging task since your lack of experience will make it difficult for you to test and run a website smoothly. However, if you prioritize the unique characteristics of your ecommerce platform, you had better build it with desirable features to achieve the best result.

4.3. Choose A Theme And Customize Your Website

Selecting a website theme to synchronize the project idea from the beginning to the end is highly recommended for the best interface outcome. It will make your website become consistent in look and feel, giving customers great experience while browsing the website.

There are thousands of templates available on website-creating pages like Wix, WordPress, or Shopify for you to choose from.  This is a time-saving option if you are a newbie to the online business as you don’t have to customize too much on your own. The given features are enough for you to set up an ecommerce store for the first time. 

If you don’t like the idea of making your website through such providers, you can consider the prebuilt themes and consult them with an outsourcing partner for the most optimal solution. Customization may take time and effort developing the design and making it come into function. However, it will ensure your website stands out from others on the market, creating a unique and competitive characteristic for your business. It is a matter of personal preference regarding the website option, so you need to be clear with your goal and stick to it for a good result.

4.4. Create Product Categories

Determining product listings is of great importance to the completion of an ecommerce platform. The way you display products will decide the attractiveness of your website, leading to the page-stay and high conversion rate. It would be best to group similar products with the same function next to each other for the utmost convenience of customers while browsing through your website.

Another helpful recommendation is to categorize products based on their characteristics, such as size or color, to create images that are pleasant to the eyes. Remember to put yourself in customers’ shoes to find the best classification that meets their needs.

When you add detailed product descriptions on your page, customers will find it easier to make a buying decision with the eye-catching display of products. It also benefits you as you will have no difficulty taking control over the number of products regarding available and out-of-stock ones. 

4.5. Set Up Payment Process

After adding the product listing on your website, you must set up the payment process to ensure it operates smoothly for customers’ best experience. One of the easiest ways to pay for the goods is associate with a bank account from domestic banks. It will give consumers the freedom to choose their most suitable bank to pay the bill. In addition, the introduction of international payment gateways like Apple Pay or Paypal also makes it easier for buyers to finish the paying step.

Remember to keep everything as simple as possible to avoid the bounce rate of your platform. No one wants to revisit a website that requires complicated steps regarding the payment.  

4.6. Test And Launch Your Website

This last step will contribute greatly to the success of your ecommerce platform. Prepare carefully and test the platform before serving customers are highly recommended for the most desirable outcome. It is advisable to check every single detail to ensure that nothing goes wrong when you launch the online platform.

It is a good idea to pretend you are a customer and try to experience a whole buying journey from the first to the last step. If any problem arises in any stage, fix it immediately before the official launching day. For the double-check step, you can open the website in different browsers and devices. When everything is ready, kick-off your business and start your ecommerce platform.

5. How Much Does It Cost To Build An Online Marketplace? 

The cost of building an online marketplace can vary widely depending on a number of factors such as the complexity of the platform, the features and functionality required, the time and effort of the development team to build the platform.

For a basic online platform, the cost can range from $10,000 to $50,000. This price includes simple features such as user registration, product listings, search functionality, and payment processing. For a more complex marketplace with additional features like social media integration, advanced search algorithms or customized user experience, the cost can add up to between $50,000 and $250,000 or more.

Your choice of using inhouse staff or an external team also affects the total cost of your project. Since each option has its pros and cons, you must think carefully before making a final decision. In addition, it is noteworthy to take the cost of technology stack and ongoing maintenance into consideration, as they will make a big difference regarding simple or complicated features.

>>> Read more: Why Should You Hire Remote Developers From Vietnam?

Conclusion

In a nutshell, the ecommerce platform stands a good chance of becoming a top trend in the online business world in the upcoming years. Thanks to the modern features with a high generation profit rate, it will help you take advantage of the technology world to set up your business and become an expert in this promising field.

If you still find it difficult to take the precise measurement of your business scale, AgileTech team is ready to help you go through all challenges. We successfully cooperated with businesses and built several websites and apps for them to change their strategy of boosting sales and managing the website effectively.

With our years of experience and a strong team including professional managers and talented experts from AgileTech, we will deliver the best performance to show you the final product that meets all your requirements. If you have any questions and want to share your idea with us, please contact us here or fill in the registration form for a free consultation with our dedicated software development staff in 30 minutes.

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