The world of business is highly converted digitally. Like the most popular industry Ecommerce industry is leading right now among the other industries. Globally this industry is growing day by day. E-commerce industries like Amazon, Flipkart, and more are on the top right now. After the internet, e-commerce sites are the best solutions for the retail market. Today, we are going to talk about one such E-commerce industry and India’s favorite lifestyle on-demand app like NearBuy or you can also say Groupon. Its app and website are based on online offers and deals. Let’s see what is nearby?
NearBuy is a lifestyle and e-commerce company. This company is the first hyper-local online platform in India. The purpose of this app to make you discover the best things to explore like it helps you to discover the hottest deals and offers with services like dining at the finest restaurants, you can relax at the best spas and salons and pamper yourself with great wellness and shopping experience. plus you can explore the cities. This app will provide you almost every service starting from movie tickets to music concerts. You just have taken the nearbuy with your mobile app. And the company will provide you the best options to explore. NearBuy is the first online to the offline platform and helps offline retail stores to get more business by offering discounts.
This was just the starting information about the NearBuy app, here on this Tech Pathway’s blog we will provide you all the information about this app like features, business models, and cost of developing an app like NearBuy. And will also let you know about where you will get these services. Read the full blog to know more.
The business model and history of an on-demand app like NearBuy
At present, the CEO of the NearBuy is Ravi Shankar. Earlier NearBuy was known by Groupon India. Before this Groupon operates in India later the management of this app takes off their hands from India and after that, it will be taken by Ravi Shankar, Ankur Warikoo, and Snehesh in 2010. And they named the Groupon as NearBuy. Nearbuy managed to get a total of $3.72 million. Nearbuy has the simplest business model and yet it is worth it. Here merchant is the center point of the revenue generation.
The revenue model of the NearBuy
- NearBuy makes money based on the merchant. The basic idea of the company is to charge the commissions to service providers. Where service providers sell their services through a NearBuy platform.
- NearBuy provides businesses to the merchants by placing the customers on the NearBuy platform and in return, the service providers have to pay some amount to the NearBuy for selling the services through the NearBuy platform.
- The commission made by NearBuy varies from 2%-25% based on the category and popularity.
- There is no upfront fee for merchant features
Now the question is how service providers are making the money?
First, the task is to know about the industries in which it operates:
- Restaurants and Bars for Beverages and Food
- Salon and spas for fitness and personal care
- Hotels and resorts for hospitality
- Movie theaters and clubs for entertainment
For all these services mentioned above, the service providers list their services on the platform of NearBuy to publicize their businesses. And they can have the customers or make the regular customers for the future from this platform and sell them the additional services at full cost.so this platform works for the service providers in case of leag generation and future benefits.
Basic Features of an on-demand app like NearBuy
- Profile registration
- Sign in/Login feature
- User-friendly navigation
- Top-listing of trending products
- Language translator
- Search and filter
- Profit calculator
- Marketing analytics
- Customer insights
- List of the products with offers
- Categories for different services
- Push notifications
- Social media integration
- Buy and deliver the product as a gift
- Privacy and security
- Help and support
An app or product can never be in a complete form because the app is based on a continuous mode of development like adding new modules or coming up with new technology in the market new features and functions, etc.the improvement cycle will be continued and the cost can never be fixed because of these changes.
An app like NearBuy or Groupon can take up to 2-3 months to be developed fully. We can assume one developer for each technology is required means Android, iOS, backend, and PHP. then the divided cost will be like:
|$40 per hour||$40 per hour||$25 per hour||$50 per hour||$30 per hour|
This is the cost of a hyperlocal deals app platform for merchants. This is the basic cost there are some other costs which will be included.
The estimated price of an on-demand application will be around $50,000 to $100,000. The cost of an app with similar offers and basic features will starts from $50,000 and can extend according to the features and technology.
- Application and Data: Node.js, Java, MySQL, PostgreSQL, Rails, Go, Scala, Clojure, Ember.js, Pusher, JRuby
- Utilities: Google maps, Visual Website Optimizer, Okta, Framer, ClickTale, Recurly, Flurry, Cyfe and Aftership
- DevOps: Github, Docker, NewRelic, Crashlytics, Nagios, DotCi
- Business Tools: Jira, Confluence, Zendesk, Pivotal Tracker, Basecamp, Olark, Qualaroo, and Fuze
The best mobile app development company for e-commerce
Tech Pathway is India’s one of the top leading app development companies. Additionally, we provide on-demand solutions while taking everything into account that our clients need. We have a team of experienced developers and designers that have prior experience in e-commerce mobile app development. So let us develop your e-commerce mobile app while you concentrate on more concerning matters of your business.