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Ecommerce App Development Like Home Depot: Features, Factors, & Cost!

105 Views | 8 min | Published On: June 24, 2024 Last Updated: July 9, 2024

Venturing into a vast eCommerce sector without a solid strategy can lead your business astray. To ensure your business success, it's a smart move to take inspiration from Home Depot. It will assist you in taking the right steps to lay a strong foundation for your business.

According to Home Depot's latest financial reports the company's current revenue (TTM ) is $151.83B. It showcases their successful integration of online and in-store experiences. By following their strategic model, your eCommerce app development like Home Depot will stand ahead of competitors, offering a robust and customer-centric platform.

In this detailed guide, we'll cover all aspects that will assist you to build an eCommerce app like Home Depot, including features, involved cost, monetization strategies, and more.

Before we dive into details, let's check the business model and revenue of Home Depot.

Home Depot Business Model & Revenue 

Check the business & revenue model of Home Depot:

Home Depot Business model and revenue

3 Reasons Why You Should Invest in an Online Marketplace Like Home Depot

Investing in an eCommerce app like Home Depot can be a highly lucrative decision for several reasons. Below we have discussed three reasons why you should invest in this market landscape:

3 Reasons Why You Should Invest in an eCommerce App like Home Depot

#1 Rapid Growth of the eCommerce Market

The eCommerce market is growing rapidly, with the number of users projected to reach 3.6bn by 2029. 

This surge is fueled by the wider adoption of smartphones and the evolving preferences of consumers who increasingly favor the convenience of online shopping. As a result, businesses must seize this incredible opportunity to invest in eCommerce platform development. 

#2 Profitable Business

The global eCommerce sales in the retail sector were anticipated to reach $9.6 trillion by 2027.

Investing in an eCommerce app can lead to higher sales and revenue. You can significantly boost your profitability by reaching a wider audience. For instance; the Home Depot app has revolutionized how customers shop for home improvement products, offering convenience and seamless user experience. 

Businesses may expand into new areas, increase sales through online channels, and provide individualized shopping experiences that encourage repeat business and consumer loyalty by investing in apps like Home Depot.

#3 Cost-Effective

To build an eCommerce app like Home Depot can work out to be a more cost-effective endeavor than traditional brick-and-mortar expansion. 

Having an app removes the necessity for physical stores and the associated overhead of rent and utilities. Moreover, it enables more efficient inventory management and focused marketing initiatives. 

By using technology, businesses may increase return on investment, reduce overhead expenses, and simplify procedures.

Top 10 Features to Integrate in eCommerce App Like Home Depot

Following, we’ve discussed the top 10 features that you must consider integrating in your eCommerce app business like Home Depot:

top 10 features that you must consider integrating in your eCommerce app business like Home Depot

1. User Registration

Here, customers can register as users and have access to the application's shopping functions. 

This crucial function enables users to track orders, complete payments, and personalize their shopping experiences, among other things. You can ensure that every user has a seamless and secure experience while increasing user retention and engagement by implementing straightforward and secure registration procedures.

2. AR/VR Visualization

Customers can view products in real life before making a purchase with the help of augmented reality (AR) and virtual reality (VR). This technology increases customer satisfaction, enhances the shopping experience, and decreases return rates by helping shoppers make informed decisions. 

3. AI Recommendation

Artificial intelligence-powered recommendation engines look at user behavior and preferences to provide pertinent product recommendations. This feature boosts revenue by providing personalized shopping experiences, increasing conversion rates, and improving customer satisfaction. 

4. Online Product Catalog

An extensive and well-structured online product catalog makes it easy for users to browse and search for products. Rich content should be included, including user evaluations, in-depth explanations, and high-quality photos, to help customers make informed purchases. 

5. Multi-Payment Modes

It is necessary to offer a wide variety of payment methods in order to maximize client happiness and retention. Business can guarantee convenience and satisfy customer preferences by incorporating various payment methods. It includes options like digital wallets, debit/credit cards, and buy-now-pay-later choices. This strategy improves customer confidence, increases conversion rates, and offer security to users. 

global distribution of online payment methods

6. Order Tracking

Customers will look at their tracking page roughly 3.5 times per order. It signifies the importance of order tracking feature. It enables customers to track their order with real-time updates, from order confirmation to delivery. This transparency enhances customer satisfaction by keeping them informed about their orders.

7. Push Notifications

52% of opt-ins say they're more likely to shop with a brand again if they offer push notifications. 

Push notifications keep users engaged by sending updates about order status, new arrivals, discounts, and personalized offers. Timely and relevant notifications can drive re-engagement, increase sales, and improve customer retention.

8. Inventory Management

Effective inventory management features ensure that product availability is accurately reflected on the app. This helps in maintaining stock levels, preventing overselling, and ensuring that customers have access to the products they want when they need them.

9. Live Chat Support

Live chat customer support offers instant solutions to customers, addressing their concerns and queries. 60% of customers are more likely to return to a website that offers live chat. 

With this feature, your business can enhance customer service, builds trust, and can significantly improve the overall shopping experience.

10. Loyalty Programs & Discounts

84% of consumers are more likely to stick with a brand that offers a loyalty program & discounts. 

Implementing discounts and loyalty programs boosts customer loyalty and promotes repeat business from clients. Rewarding points, exclusive deals, and discounts encourages customers to come back, which eventually boosts long-term profitability.

Develop an eCommerce App like Home Depot: Step-by-Step Process

Following, we’ve discussed step-by-step eCommerce apps like Home Depot. Let’s understand the overall development process:

step-by-step process for eCommerce app like Home Depot development

Step 1: Ideation & Planning

In this initial phase, the project concept is developed in a strategic manner to ensure the app’s success. It involves identifying the target audience, analyzing the market landscape, and setting clear objectives. 

Extensive analysis of competitors and market demands aids in defining the app's distinct value proposition. This step results in the production of a comprehensive project timeline and roadmap to guide the development process. 

Step 2: Features & Functionality

This step comprises providing an overview of the key functionalities and features that the eCommerce application will offer. 

Essential features include shopping carts, user profiles, advanced search capabilities, secure payment processing, and order tracking. 

We ensure a targeted development strategy by classifying these features based on company objectives and user needs. Effective requirement documentation makes it easier for the development team to align with the goals of the project.

Step 3: Integrating the Right Tech Stack

Choosing the right technology stack for your eCommerce app development like Home Depot is essential for the security, scalability, and performance of app. This entails selecting the third-party services, databases, frameworks, and programming languages that best meet the needs of the project. 

A strong technical basis is ensured by considering factors such as future scalability, integration possibilities, and ease of development. The chosen tech stack needs to support the app's functionality and allow for future growth and changes.

Step 4: UX UI Design

Creating an intuitive and aesthetically pleasant user experience is the aim of the design phase. This entails designing, developing, and wireframing the app's interface to make it accessible and user-friendly. 

Designers must ensure that elements complement one another and that the user interface is both aesthetically pleasing and useful. To meet user expectations and corporate goals, the design is continuously tested and modified based on feedback from users. 

Step 5: Development & Testing

This stage involves the actual coding and development of the application. Using agile methodologies, the development team builds the app's features and capabilities in iterations. Frequent testing is done to identify and fix flaws and ensure the software functions as intended. 

At this point, backend development is also involved, which handles server-side logic and databases. Extensive quality control ensures that the application meets the specified dependability and performance requirements.

Step 6: Launching

Finally comes the launch phase – here you will deploy your eCommerce application on Apple Store (iOS) or Google Play Store (Android). Both companies have their own set of rules & regulations that you need to follow before launching your application. 

Once you’ve launched your eCommerce app, make sure to monitor its performance and timely update it. It will make your application more efficient and offer a smooth user experience. 

6 Factors Impacting the Development Cost of eCommerce Apps like Home Depot

Various factors impact the eCommerce app development like Home Depot. Following, we’ve discussed some crucial factors that you must consider to align it with your budget:

factors impact the eCommerce app development like Home Depot cost

1. Project Complexity

The complexity of your project determines the overall development cost of an eCommerce app like Home Depot. 

A simple app with basic features & functionality will be less expensive. Whereas, a complex project with advanced features & functionalities will be more expensive. 

The cost increases with the complexity of features and integrations due to extra development hours, the need for specialized skills, and extensive testing.

2. Platform Selection

Choosing a suitable platform is crucial for estimating costs. The costs associated with developing native apps for iOS and Android may differ due to disparate testing protocols, separate codebases, and distinct design considerations.

However, opting for a cross-platform solution saves costs because it permits code reuse between platforms. The target audience, performance requirements, and long-term maintenance issues ultimately determine which option is best, even though native apps might provide better performance and user experience.

3. UX/UI Design Strategy

A comprehensive UX UI design is necessary to create an intuitive and engaging user experience. Hiring eCommerce app designers could result in an initial app cost increase, but the app's usability and appeal will be significantly enhanced. 

Custom designs that are in line with the brand's identity, smooth navigation, and interactive aspects all lead to higher development expenses. 

However, because it often results in increased conversion rates, better customer retention, and improved user engagement, this investment pays off and makes up a considerable chunk of the overall cost.

4. Development Team Location

The location of the development team is one of the key elements affecting the cost. Developers in Eastern Europe, India, and Southeast Asia typically charge lower costs than those in North America and Western Europe. 

For instance, eCommerce app developers' hourly pay in India may be as low as $20, whereas in the US, it may be as high as $150. While outsourcing to less expensive areas can result in cost savings, it's crucial to consider certain disadvantages such as differences in time zones, communication challenges, and quality control.

5. Scalability and Security Planning

Due to Boston Consulting Group, scalability brings companies 3x higher ROI, 15-20% revenue growth, and 15-20% cost savings.

Two critical aspects to consider before eCommerce app development like Home Depot is its capacity for efficient growth and its resilience to online threats. Strong security measures, like encryption, secure payment gateways, and regular security audits, as well as planning for scalability to handle increasing traffic and data loads, raise development costs. 

These elements are crucial for maintaining client confidence and ensuring a satisfying user experience as the business grows. 

6. Maintenance and Support Strategy

For an eCommerce software to be successful in the long run, post-launch support and maintenance are essential. This covers frequent updates, speed improvements, issue repairs, and customer assistance. 

Regular maintenance keeps the app safe, secure, and current with user expectations and emerging technological developments. Annual maintenance costs are a recurrent expense that should be included in the app's total cost of ownership. They typically fall between 15 and 20% of the app's initial development cost.

5 Monetization Strategies to Make Money From eCommerce Apps like Home Depot

Here, we’ve discussed the top 5 strategies to make money from eCommerce apps like Home Depot. Let’s discuss:

1. Transaction Fees

Think of your e-commerce business as a bustling marketplace, where vendors pay a small fee to be part of that marketplace. 

In the similar manner, when customers purchases something from your eCommerce app, a flat sum or percentage is deducted – and that’s your earning. With this revenue model in place, the platform can profit directly from the transactions that occur on it. 

2. Subscription Plans

The subscription model plans work similarly to VIP access, which is available only to exclusive customers. Users can avail access to premium features, exclusive content, or additional features or services for a recurring fee (weekly, monthly, or annually). 

Incorporating this strategy, you can ensure a steady stream of revenue from subscribers and builds client loyalty by consistently delivering value offerings.

3. In-App Advertising

Think of your eCommerce application as a bustling city with posters and billboards vying for attention. In-app advertising works in the same way – displaying advertisements within your app. 

Advertisers will pay to showcase or promote their products or services to your users. And you will earn based on clicks, impressions, or conversions. 

4. Data Monetization

Data monetization involves leveraging user data collected from the eCommerce app to generate revenue. This can include selling anonymized user data to third parties for market research, targeted advertising, or other purposes while ensuring compliance with privacy regulations.

5. Affiliate Marketing

Do you know over 80% of brands have affiliate programs? 

This powerful strategy involves partnering with individuals (affiliates) or other businesses to promote products or services within your eCommerce app. Affiliates earn commissions for every sale they generate, creating a win-win situation that drives revenue for both parties.

For instance; the affiliate programs at Home Depot are free to join. They provide substantial product commissions: 1% for goods, 1% for orders placed on mobile devices, 8% for some items, and 1% for appliances. 

Partner With Apptunix to Develop a Robust eCommerce App like Home Depot 

At Apptunix, a leading eCommerce app development company, we specialize in creating robust, scalable, and user-friendly eCommerce solutions tailored to your business. 

Our comprehensive approach covers everything from ideation and planning to development and post-launch support, ensuring your app stands out in a competitive marketplace. Developing a feature-rich and reliable eCommerce app like Home Depot requires expertise, innovation, and a deep understanding of market needs. 

Our team excels in defining essential features, integrating cutting-edge technology, and designing intuitive UX/UI interfaces. By partnering with Apptunix, you gain access to our extensive experience and innovative methodologies, ensuring your eCommerce app meets customer expectations and business objectives. 

We are committed to delivering high-quality, secure, and scalable solutions that drive business growth and enhance customer satisfaction. Contact us today for your eCommerce app development like Home Depot and transform your vision into reality.

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App Monetization Strategies: How to Make Money From an App?

Your app can draw revenue in many ways. All you need to figure out is suitable strategies that best fit your content, your audience, and your needs. This eGuide will put light on the same.

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