What’s the cost involved?

Over the years, ecommerce has been growing fast. Back in 2019, it was reported by Statista that retail ecommerce has added up to a total of $3.53 trillion and the number will only continue to grow to an estimated amount of $6.54 trillion in 2022.

Many businesses make use of an online store to expand their reach and target a wider audience, while some begin their store’s journey through ecommerce. If you’re considering going online as well, there are definitely a few things you have to consider when making your own ecommerce store!




Ecommerce Infrastructure Cost
Ecommerce Software Cost

Shopify

Basic
 $29/month


Standard
 $79/month


Advanced
 $299/month

BigCommerce

Standard
 $29.95/month


Plus
 $79.95/month


Pro
 $299.95/month

WordPress

eCommerce
 $63/month
Domain Name Costs
$2 - $20 / year
Ecommerce Hosting

Shared Hosting
$2.49 - 15 / month

VPS Hosting
$20 - 80 / month

Dedicated Hosting
 $80 - 300 / month

Cloud Hosting
 $4.50 - 250 / month

WordPress Hosting
 $4.99 - 830 / month

SSL Certificate Costs
$20 - 70 / year
Transaction Costs

Shopify Payment
 3-3.6% + $0.50


Non-Shopify Payment
 2.0%

Paypal
 2.9% + $0.30 per transaction over $10

Stripe
 2.9% + $0.30 per transaction

Ecommerce Design Cost
Store Theme & Design Costs Free to $200+
Add-on, Plugin, and Extensions Costs WooCommerce
Free to $299
$500 - $10,000 USD (Custom Plug-ins)

Shopify
Free - Varied monthly subscription apps
$5,000+ USD (Custom App)

BigCommerce
Free - $1,000 USD

Having someone to manually build your ecommerce website will cost a lot more which starts from $10,000 and above. The price varies due to the complexity of the design and number of web pages.

There are also some ongoing costs to consider after website creation
  • Data backups
    Ensure the safety of the information on your website
  • Inventory management
    Keeping track of stocks quantities in and out
  • Security
    Keeping your business and the information private and secure is one of the most important factors
  • Email marketing (Free or a monthly subscription)
    EDM allows you to build customer loyalty and generate sales, however, you have to consider the solution depending on the size of your customer list
  • Product marketing
    A part of your budget would have to be allocated to SEOs, PPC ads and social media as well

For small businesses and startups, you should always do your research to avoid paying higher costs. Consider the kinds of features and add-ons essential to your store before any subscription.

You can also consider our website packages that starts from $798. The packages include

  • FREE 1 Year Domain Registration (For .com domain only)
  • FREE 1 Year Microsoft 365 Business Essentials (1 email)
  • FREE Online Store Logo Design
  • FREE Professional Products Photography
  • Shopify Website Design (Shopify monthly subscription not included)
  • Company Registration
  • PSG Grant Application for Shopify Monthly Subscription (For retail trade only)

We will be touching on other parts of Website Creation in the next week, do stay tuned!

For any enquiries or feedback, do write in to us at care@compaqs.com or contact us at (+65) 6262 0402.

 

Sources
BigCommerce, Understanding Ecommerce Costs: How to Calculate Total Cost of Ownership for an Online Store
Website Builder Expert, How Much Does It Cost to Host a Website?
BigCommerce, Shopify vs Shopify Plus vs BigCommerce: Which Ecommerce Platform is Right for You?