Traditionally, buying or renting a high-street store was the only way to set up a respectable retail business. However, it had so many limitations such as the expense of setting up to the physical restriction of the store. Thanks to the power of the internet, online retailers can now set up professional retail shops online with minimal capital and sell their preferred goods or services to a massive market on the web.
Getting into e-commerce is pretty straightforward. The tools are laid out for you so that even as a beginner with limited technical knowledge, you can be able to build your own e-commerce website and set up your store in the least time. All you need to succeed as an online retailer is a strong work ethic and the desire to succeed.
With more and more people globally, choosing to shop online, e-commerce is expected to continue on its rapid growth trajectory through 2018 and beyond. The opportunities are growing by the day. For entrepreneurs looking to start a new company or those interested in diversifying and expanding, there has scarcely been a better time to get into e-commerce.
Here are some reasons why you should launch an e-commerce business today.
1. Getting your business up and running is easy
Tools for setting up an e-commerce store have not only increased, but they have also gotten better with time. In fact, the most challenging aspect of setting up a business online is deciding on which products to sell. After settling on your preferred product line, you can proceed to choose your preferred e-commerce solution and embark on building your store.
2. Selling products online from home
Brick-and-mortar businesses are limited by location. The location determines visibility, which in turn influences sales. To reach more customers, brick-and-mortar business operators have to open multiple stores in more than one location or peddle their merchandise around their target region.
In e-commerce, your store is located online. You can easily build your store with an online store builder and from the comfort of your home market products online and sell them to a global audience.
While the passive appeal of e-commerce is attractive, some proactive e-commerce merchants are choosing to hit the streets to build awareness for their businesses. Running an e-commerce store allows you to set up “pop-up” shops anywhere. You can meet your customers in person at the subway station, high visibility street corner or Business Park with nothing but a tablet, card reader and a few sample products in hand.
3. It is easier to compete online
For brick-and-mortar businesses, size matters. Starting a small shop at the corner with the hope of out-competing established local chains is in most cases a pipe dream. With an online store, it is easier to grow your small business into a true force of retail. You only need to provide better products and services than your competition. You should then grow an online presence, which is made easy by the numerous, readily available SEO and marketing tools. You can then compete at the same level as e-commerce giants like Amazon and Walmart.
4. You don’t have to manufacture or store products
Manufacturing products are expensive and time-consuming. Most budding entrepreneurs cannot afford to make products, build their inventory then market them. With an e-commerce store, a retailer need only have the necessary connections, i.e., suppliers and vendors on hand. He/she can then focus on marketing. If a shopper makes a purchase, the retailer quickly acquires the product from the manufacturer and delivers it to the shopper. In this case, the online retailer acts as the intermediary between the manufacturer and the customer.
If you are interested in being your boss and doing what you are passionate about, e-commerce is something worth considering. There are many great reasons to get started in e-commerce this year.