If you have a brick-and-mortar store and aren’t online, you’re missing out on sales. That is pretty much the bottom line for almost any store now. More people shop online than ever before, and the industry is still snowballing in terms of growth.
But what if you don’t have a store already? Is eCom still worth it for you?
The answer is yes, but you have to be prepared for all of the work that comes with it. So let’s take a look at what makes eCommerce something you should be thinking about.
Photo by Mark König on Unsplash
Competition
A bit of competition is always healthy, but when it comes to selling in a busy market - it forces you to be creative. Thinking outside the box or throwing the box away altogether.
Working, hiring, or partnering with companies like eComBrands.com, who can highlight all of your opportunities and make sure that you are taking advantage of them too.
While advertising costs are increasing (because of the increase in ecom stores), you need to be smarter and more efficient.
Dropshipping
While there are hundreds of dropshipping ‘gurus’ who will sell you the dream, dropshipping isn’t dead. In fact, it is alive and very much thriving. It is still one of the easiest ways to start an ecom store without massive overheads, without storage, and without postage costs.
Find a couple of great niche products (choose something you are already passionate about) and use the start-up guides and wizards to help you. Before you know it, you’ll have an ecom store.
Always keep in mind that marketing and promo are where the time and effort goes here. The profit margin on products is about 20% (higher but never lower), and you’ll need to choose high-ticket or low-ticket buyers.
Mobile is King
Mobile hijacked the e-commerce industry a while ago, and it has really come into its own. Over 70% of purchases online in 2021 were made through smartphones.
To make sure that you are capitalizing on e-commerce, you need to make sure that you have a mobile-optimized website. Mobile sites should be easy to use, making the process of buying a matter of three or four taps.
If you have the money or the know-how to make sure that your website is mobile optimized, then an ecom store is worth it.
Growth
Over the last few years, there has been significant growth in e-commerce; a surge is the best way to describe it from 2019 onwards. That kicked off the last few years when people were less likely to head to a store.
In the end, buying online is better for the customer in so many ways. Discounts it’s faster; they can drink a cup of tea while they show, and then they can spend hours looking at products if they want to.
The growth of online shopping has been great for e-commerce stores, even small ones, and it is expected by 2024 that online shopping will make up about a quarter of all global sales.
But to get ahead, you need to have a strong brand story and get yourself out there: Five Ways To Gain Brand Attention In 2023 — corruption.