Introduction of Ecommerce levelled the playing field for many. It reduced the capital constraints of having a physical premises. It is a great field to get into whetehr bootsrapping your way or have a little investment money set aside. The only true price for ecommerce is a strong work ethic and a desire to succeed. Here’s a few reasons why you should star today.
Ecommerce is anticipated to have a growth of up to 25percent. eMarketer projection showed that there will be rapid growth globally of ecommerce through 2018. The expected peak this year at an almost $1.6 trillion with the end of 2018 projections of up to $2.5trillion. Between 2013 and 2018, in the US alone, the growth of ecommerce is anticipated between 11.6 to 16.5 percent.
While deciding on a business model, it is pertinent to evaluate trends and move into growth markets where possible. These statistics cement that ecommerce as a model is a favorable choice for entrepreneurs with the interest to start a new company, diversify or expand into. The opportunities are expanding daily for ecommerce making this an ideal time to get into it.
Earn in your sleep
Physical premises offer the limitation of requiring good location and stocking the premises. With an ecommerce store, the storefront under your domain will cater to global clientele as opposed to global storefronts.
“Pop-up” shops are coming up with merchants carrying around tablets and samples to meet customers with a card reader. They are able to build business awareness at any location e.g. subways, parks e.t.c.
Leveraging technology to expand your business at every turn is a positive lure. It is possible to earn in your sleep for those seeking the “passive” appeal of it.
Easy to Set Up
0With time access to better and more improved tools for ecommerce has become a thing of the past. Setting up with a selling platform and marketing automation now means that anyone can get an ecommerce business up and running with reasonable capital demands.
The significant challenge is in setting up the product. However, if it is products that you have used previously and are confident in, it would a matter of building relationships with suppliers. The passion for something you have used and are confident in will drive you to build a thriving business.
80% of web users have purchased online
With so much change demystifying the web, that number is sure to grow as more and more people use the web. The main challenge for etailers is the trust due to security and privacy concerns. While these issues are still a concern for people, once a credible and trustworthy relationship is established, it is a matter on maintaining and growing that relationship. The way to that starts with an ecommerce site that is easy to navigate and attractive to having content/ product that helps and improves your customers.
Sell more down the line
With abandoned shopping carts being a predominant issue, willingness to adjust and enhance your funnel for maximum conversion will go a long way to making more sales. The reduction of friction is highly important in ecommerce. There are some tools and apps for retargeting like CartHook to capture customers before they leave permanently.
Content marketing down the line is quite effective as a sales technique. By sending out relevant value added content for readers you may capture email subscriptions that you can subsequently use to inform them of promotions, discounts and sales as they are happening.
Ecommerce can be a starting platform towards bigger business ideas. Once a successful ecommerce business has been established it can provide the capital required for other lucrative ventures. It is also a good platform to start being your own boss and getting into something you have a passion for. The options for ecommerce are limitless with even the purchase of an already established business.