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Whether you are a bootstrapper or an investor with a little extra money to start a new business, e-commerce is a great area to enter, especially today. Even as a beginner in e-commerce, the tools and resources are all in place for you. All you need is a strong work ethic and a desire to succeed.
Here are five reasons to start an ecommerce business now.
1. Worldwide, electronic commerce is expected to increase by 13-25%.
EMarketer’s projections show rapid growth in global e-commerce through 2020. This year is expected to peak at nearly $ 1.6 trillion and by the end of 2020, close to $ 2.5 trillion . In the U.S. alone, e-commerce growth is expected to be between 11.6 and 16.5% from 2013 to 2020.
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When choosing a business model, it is always important to look at trends and head to growing markets whenever possible. Statistics support the idea that the e-commerce model is a good choice for entrepreneurs looking to start a new business, or those who want to diversify and grow.
If you want to get started in e-commerce, there has hardly been a better time. The opportunities are growing day by day.
2. The ability to earn while you sleep.
For physical businesses, location is key. This can make a huge difference in terms of visibility and sales. In ecommerce, you can set up a storefront on your own domain name and sell your products worldwide. You don’t need multiple storefronts to be seen around the world.
It sounds pretty obvious, but the implications are deeper than you might think. The trend for “pop-up” stores is on the rise, as some merchants choose to meet their customers in person with little more than a tablet, a card reader and a few product samples in hand. This means that proactive e-commerce merchants can educate their businesses in high visibility parks, metro stations and street corners – without breaking any regulations or laws, of course.
E-commerce has a certain “passive” appeal, and while it is certainly possible to earn while you sleep, business owners should seek to leverage technology every turn to grow their business.
3. It is easy to be operational.
Not only have e-commerce tools improved a lot over time, they are more numerous than ever before. From the sale of platforms to marketing automation and SEO tools, even bootstrappers can be operational without breaking the bank.
The hardest part of setting up is the product, but if you are passionate about a specific range of products – especially if they have helped you personally – it is much easier to go through the relationship building process. with distributors or product supply. In addition, it is this passion that will drive you to do the work that you need to do to build a successful business.
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4. Eighty percent of the web population made an online purchase.
As you can imagine, this 80% will only increase. The key as the owner of an e-commerce business is to build trust and credibility with prospects and customers. From developing an attractive and easily navigable website to creating content that helps your customers, there are many different aspects to gaining their trust, but if you commit to continuous improvement over time, you will build a customer base. loyal.
It is no exaggeration to say that trust is one of the most important aspects of running an e-commerce business. People clearly trust e-merchants more than before, but security and privacy concerns are still at the heart of many people’s concerns.
5. You can sell more to customers online.
Virtually all e-commerce companies find that reducing friction is extremely important in increasing sales. Abandoned shopping carts are a common problem, and you need to be willing to modify and optimize your funnel to ensure maximum conversion.
Fortunately, there are some excellent retargeting apps and tools, such as CartHook, that can help capture customers before they disappear forever.
Content marketing is another effective way to sell online. You can create relevant and value-added content for your readers, capture them as email subscribers, and then notify them of sales, discounts, and promotions when you run them.
Most entrepreneurs have other business ideas they would like to explore one day. Once you’ve built a successful ecommerce business, selling it can provide you with the capital you need to move to greener pastures.
There are many good reasons to start an ecommerce business. If you are interested in being your own boss and selling products that you are passionate about, this is something worth considering. If you want to speed up the process, you can even buy an established business instead.
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