Ecommerce apps are no longer merely an ongoing trend in this day and age; rather, they are indispensable for all types and sizes of businesses. Ecommerce apps have revolutionized the way we buy and sell products, from small businesses to huge conglomerates, by providing unparalleled convenience and accessibility.
Let’s take a look at some of the popular ecommerce apps in Chicago that made people’s online purchases simple and faster. If you’re an aspiring or established business owner interested in learning more about a certain app, you can do so by reading this blog, which provides info such as the app’s founder, total investment, business model, unique selling proposition, and revenue earned.
The Best Ecommerce Apps in Chicago for Entrepreneurs
These are a few of the most preferred ecommerce apps in Chicago. Successful ecommerce apps owe a large part of their success to their respective business models, so if you’re an entrepreneur, it is beneficial to learn as much as you can about them.
eBay
Founder: Pierre Omidyar.
Inception and Total Funding: Founded in 1995. Funding raised $4.95 billion.
Business Model: eBay’s model relies on B2C and C2C trades between individuals and companies. The company’s three main operations are the eBay Marketplace, eBay Classifieds, and StubHub websites.
Unique Selling Proposition: eBay is unique among similar platforms because of its high level of usability, flexibility, safety, and credibility. The site has been a favorite among internet consumers due to its affordable rates and extensive selection.
Brief on the App with Revenue Details: Due in large part to eBay‘s well-established online storefront, the company made over $2.67 billion in profit in 2022. During the peak of the pandemic, when most people were quarantined from the outside world, ecommerce apps filled an essential need. The app provides access to eBay’s vast product inventory, allowing users to shop, bid, and buy with a single tap.
Amazon
Founder: Jeff Bezos.
Inception and Total Funding: Founded in 1994. Funding raised $8.1 billion.
Business Model: Amazon’s business model is predicated on the success of its online retailing platform, known as Amazon.com. It’s a place where consumers and sellers can connect online and make money through online deals, subscriptions, and other online services.
Unique Selling Proposition: Amazon’s competitive edge comes from its extensive inventory and guaranteed delivery dates. Amazon has become the go-to platform for online commerce because it prioritizes user experience.
Brief on the App with Revenue Details: The Amazon app makes it easy to browse the store, watch movies, and utilize other Amazon features. Around $61 million of Amazon’s total annual revenue comes from the Amazon Shopping app.
Amazon Web Services (AWS), a subsidiary of the multinational ecommerce behemoth, dominates the cloud market worldwide, providing more than 200 services and bringing in an immense amount of revenue in the process. Last year, $514 billion of Amazon’s net revenue came from AWS.
Best Buy
Founder: M. Schulze.
Inception and Total Funding: Founded in 1966. Funding raised is undisclosed.
Business Model: Best Buy’s core business is the retail and online sale of gadgets for household use. The benefit to customers is that they are provided with a centralized online hub from where they can explore a plethora of products and ultimately make purchases.
Unique Selling Proposition: When compared to other ecommerce applications, the Best Buy app stands out due to its ability to facilitate both in-store and online purchases. Users may search for products, see where to get them, and see what others have to say about them, as well as read reviews, compare prices, and buy directly from the app.
Brief on the App with Revenue Details: The Best Buy app serves as a user-friendly interface that takes the huge electronic inventory of the shop to the users’ fingertips. In Q2 2022, the corporation attributed 43% of its domestic revenue to digital sales.
The app’s intuitive design has helped Best Buy thrive in the complex and cutthroat electronics retail industry. The app was a major factor in the company’s FY2022 sales of $47.3 billion.
Etsy
Founder: Rob Kalin, Haim Schoppik, Chris Maguire.
Inception and Total Funding: Founded in 2005. Funding raised $97.3 million.
Business Model: Etsy functions on a consolidated model among the ecommerce apps in Chicago, that emphasizes handmade and exotic products. It plays the role of an intermediary, connecting skilled craftspeople with enthusiastic consumers from all around the world. Approximately 7.4 million people are currently selling items on Etsy.
Unique Selling Proposition: Etsy is unique among online stores because it serves as a hub for selling handcrafted and antique items as well as art materials and equipment. This narrowed focus on a certain type of product is what made it successful.
Brief on the App with Revenue Details: Etsy offers a wide variety of unique products and educational guides, all of which can be customised based on user preferences via analytics and cookies.
At the moment, Etsy has been valued around $1.8 billion. The platform has done well because it takes a novel approach to online retail and has a strong USP. The popularity of Etsy proves that niche online marketplaces can thrive.
Poshmark
Founder: Manish Chandra.
Inception and Total Funding: Founded in 2011. Funding raised $203 million.
Business Model: The primary focus of Poshmark is on the sales of branded fashion and accessories, but they also allow users to sell and buy items connected to home design and personal hygiene.
Unique Selling Proposition: Because of its user-friendliness, community features, and wallet-friendly shopping conditions, Poshmark has attracted a user base of 80 million, making it the largest fashion marketplace in the world.
Poshmark’s value proposition—low prices for the general public—is, like the other successful USPs, what sets it apart from the competition.
Brief on the App with Revenue Details: Poshmark has added a new dimension to online buying by including aspects of social networking that were previously absent from other ecommerce apps. Poshmark’s annual revenue is estimated to be over $262 million.
Conclusion
Appscrip’s ecommerce platform offers a responsive website and mobile app, a user-friendly interface, a robust backend, a comprehensive admin panel, a multi-vendor system, a wide range of product categories, a seamless shopping experience, various payment options, a fast delivery system, and social media integration.
It has been used by successful ecommerce businesses like Shopee, Tokopedia, and Lazada, and has been praised for its user-friendly interface, robust backend, and efficient delivery system.
If you’re ready to take your ecommerce business to the next level, contact Appscrip and learn more about our ecommerce app development services.
