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In today’s digital age, eCommerce has become an essential part of retail business operations. As businesses strive to expand their reach and increase sales, the demand for comprehensive multi-vendor eCommerce platforms is on the rise. Developing such a platform requires careful planning, execution, and investment. In this blog post, we will explore the cost estimation for developing a multi-vendor eCommerce platform with all the necessary functionalities.
A multi-vendor eCommerce platform should encompass the following key components:
- Admin/Staff Portal: This web-based portal offers a user-friendly interface for internal staff to manage and oversee the operations of the eCommerce platform. It includes access rights management for staff members, various reports, key performance indicators (KPIs), and dashboards to provide quick access to essential information.
- Merchant Portal: The merchant portal is a dedicated web-based platform that empowers merchants to effectively manage their profiles, products, orders, and payments. It provides merchants with complete control over their online business. The portal includes features such as registration, product management, order tracking, and access to reports, KPIs, and dashboards for insights into their business performance.
- Customer Portal: The customer portal enhances the shopping experience by providing a user-friendly website and a feature-rich mobile app. Customers can browse products, place orders, track deliveries, and conveniently make payments. The portal ensures a seamless shopping experience and encourages customer loyalty.
Time and Cost Estimation:
To estimate the time and cost required for developing a multi-vendor eCommerce platform, we consider various factors and the scope of work involved. Here’s a breakdown of the estimated hours for each phase:
| 1 | Planning (Architecture, Database, Layout): | 40 hours |
| 2 | Documentation: | 24 hours |
| 3 | UI/UX: | 56 hours |
| 4 | Development & Testing (Functionality & Load Testing): | 1,344 hours |
| 5 | Security Features & Penetration Testing: | 40 hours |
| 6 | Test Planning: | 24 hours |
| 7 | Deployment: | 8 hours |
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Total Hours: 1,536 Total Cost: $46,000
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It’s important to note that the provided cost estimation is for the Minimum Viable Product (MVP) covering all necessary functionalities. The actual cost may vary based on specific requirements, complexities, and additional features desired. Typically, the cost of developing a multi-vendor eCommerce platform can range from $40,000 to $70,000.
Expected Monthly or Yearly Running Costs:
In addition to the development cost, there are ongoing expenses to consider:
| 1 | Hosting Server: | $40 to $100 per month |
| 2 | Android Play Store: | $25 per year |
| 3 | iOS App Store: | $100 per year |
| 4 | Domain: | $10 per year |
These are the estimated monthly or yearly running costs for maintaining the platform and ensuring its availability to users.
In conclusion, developing a multi-vendor eCommerce platform involves careful planning, execution, and investment. The estimated cost for such a platform depends on various factors, including the scope of work, functionalities, and complexities. By understanding the requirements and considering the estimated costs, businesses can make informed decisions and invest in a robust and scalable multi-vendor eCommerce platform.
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