People in India have a great passion for food, shopping, and clubs, and Indian people are adopting a modern way to explore things. Now there are lots of options and variety available for food, shopping, clubs, spa, etc. Every person wants the best service when they go out. But it is not possible for them to try each and everything so if they have a review of places then they can explore more and better places.so keep that requirement in mind developers and entrepreneurs have launched the idea of an online location intelligence platform. Which helps customers to discover for restaurants, spas, etc.one such on-demand app like called Magicpin.
Magicpin works for both customers and retailers. It is an online location intelligence platform. You just have to pin a location on the map and then you can find the coolest people nearby and check where they hang out. This app is not only for the restaurant also you can get reviews of the trendiest fashion boutiques, health clubs, spas, grocery, home delivery, and more. Customers can get great cashback and offers just by generating a picture.and for retailers Magicpin generates a hug business by driving the customers.
This type of app is generating a huge profit in the market. And our company Tech Pathway is an expert in developing these kinds of apps. Here, you will get all the details related to the cost of developing an app like Magicpin.
Users can pay at any outlet directly using the Magicpin app and by uploading a picture users can get instant cashback.
- Discovery : Magicpin allows you to explore what’s new and discovering of trending events, relevant activities, and interesting people to make people up to date about what is trending.
- Recognition: Magicpin provides users to get followers, likes, and comments for the taste and local activities.
- Savings: specially designed this for magic pin users.
- Scan magic QR: facility of QR code scanner.
- Referral chain: connect various customers and merchants in one place by referring to the unique code.
- Click selfie/bill: just one click of your moments can give you cash back and offers.
- Magic pay: offers instant cashback to the customer.
- Purchase group buy vouchers: you can purchase discounted vouchers on your preferable outlet.
- User profile and registration: get an individual profile.
The business model of an on-demand app like Magicpin
Magicpin is an online location intelligence platform. Which allows the customers to discover various restaurant, spa, fitness centers, and fashion stores in nearby locations. Magicpin’s headquarter is in Gurgaon. It provides services to both merchants and users and provides them personalized offers.
Magic pin provides services to both users and merchants, if we look at merchant side then it will help in various ways
- New customer acquisition: Magicpin provide new users to both new and established merchants.
- Referral network: Connect with new users through existing one, by spreading a word for customers and merchants.
- Discovery: users can explore the new activities, trending events and lots of interesting people.
- Customer engagement: magicpin also focus on existing customers and keep them on track.
- Utilization increment: excess inventory and access to peak transactions.
- Savings : its a merchant reward programm made specially for users.
The funding criteria is completed by different merchants and the brand. Different brands and merchants use this type of platform to engage and provide discounts and offers to their users.merchants pay a recurring platform fee and pre-transaction charge in exchange for business provided by Magicpin. And we see as customer point of view then Magicpin has a back-end platform that scan bill invoices which are uploaded by the users. Magicpic backend program keep the track of shopping pattern of the user, and the amount spent and which item consumed by the users.
Bill which is uploaded by the users provide validation for the users who provide the content of different categories like shopping, groceries, food and beverages, etc.for sharing each picture customers get the rewards and various cashback in form of magicpin points. Users can experience various things like nightlife, resturants , beauty and fashion through single picture.
Now the point is from where magicpic generates its revenue? For revenue generation, merchants have to pay the commission to company for providing them business. They have to pay around 10-12% of the commission. Also, they have to pay for marketing and advertising which is done by magicpin.
The biggest advantage and cost involve of magicpin is that it works for various cities and it doesn’t matter which payment method you are using they will always provide you magicpin points.
With the lauch of mobile applications in the market, business people made their focus towards client. If you want to develop a app like magicpin then you have to put your cost on different payment features, customers privacy. On an average it will cost you around $3500 to $9500. And if we talk about India then it will cost you around $20,000.
The exact cost we can never tell you because it is totally depend on the features you want in your app and the company. This app covers many cities in India which is also a cost bearing for the company. If we estimate the cost of coding used or the technical cost then,
- UI/ UX designing- $1500 to $2000
- Technical documentation- $1000 to $2000
- Front-end and back-end development – $10,000 to $20,000
- QA and testing cost- $2000 to $4000
So this is the basic and rough estimation for the app. If we see the estimate of both the platform android and iOS then it will cost you around $15,000 to $50,000. However, the cost depends upon the features you add and the region you belong to.
- Payment method- Stripe, Ewallets, Braintree, and Paypal
- Database- MongoDB, Postgress, Cassandra, Hbase, mail chimp integration
- Cloud environment- AWS, Google, and Azure
- SMS, voice and phone verification- Nexmo and Twilio
- Real-time analytics- Hadoop, Cisco, IBM, Apache Flink, Spark, and BigData
- Push notifications- Push.io
Searching for a development company
Identically, Tech Pathway is the best company if you are looking for all these services for your brand. Because they have experience of how these companies work and what are their business models. Here we have our experienced team of developers and designers who will give you full and final guidance of “how to build an app like Magic pin.you will get all your answers and solutions at one place.