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I could write many reasons towards starting ecommerce business being one of the greatest opportunities out there today. It’s often difficult to cut down on the text length of articles as I have so many positive messages to share about operating a business within this sector.
In 2015 eMarketer published the results of a survey that displayed the ecommerce market as being worth 1.6 Trillion USD, the only trillion dollar market in the world.
What’s even more fascinating is it is projected to grow by 20% this year and will continue to increase well into the future. Every year more and more stores go online, and consumers turn in ever increasing numbers to online retail to streamline and enhance their shopping experiences.
It’s fair to say that ecommerce is definitely the market businesses cannot afford to ignore. As an ecommerce business owner, you have a huge market to learn about and find your product set a new home.
The numbers place this point above all others on my list. Ecommerce is highly lucrative for business when it is focused and implemented correctly and it’s initial setup is nowhere near as high or as difficult as setting up a physical bricks and mortar shop.
They say that Money never sleeps, and it’s true at any given moment new markets are waking up and consumers are coming online to make purchases for friends, family and for themselves. We live in an age that has online transactions as commonplace as watching your favourite show on TV.
The area physical retail has suffered in most, apart from the larger running cost is that they have set opening hours. While we see some of the supermarkets or fast food chains staying open 24 hours. For most companies, there are normalised hours of operation, many still don’t open on a Sunday!
In contrast, Ecommerce does not share the same disadvantages. Orders can be received and processed at any time, all day, every day. You or your ecommerce team pick the orders up when you start work in your time zone and deal with the packaging and shipping as normal.
The reason this trend has formed is it is so often true. Ecommerce businesses simply have fewer costs, even at the largest scale they have a huge warehouse, people to staff it, a small office of people to populate, market, and manage the store and you are good to go.
Offline businesses have placed shops up and down the country they operate in. If they ship internationally that means putting people on the ground in those locations. On top of this, you would still need a warehouse and the same teams that ecommerce businesses use.
This running cost reduces the all important cash flow of a business. People don’t want to pay more than they have to. There is an increasing movement of Savvy shoppers willing to hunt out the best deals online.
In most cases offline just cannot compete with the new price points set by ecommerce businesses and online marketplaces.
Export is important to all businesses that sell products. Why limit yourself to a local market when there is a much larger global market?
Jumping into Marketplaces can be daunting at first, it need not be. Many of the most popular marketplaces especially eBay and Amazon have international versions of their website that tailor to those countries.
Based in the UK? want to see if there is interest for your product in France, you can simply add it to amazon.fr. A few years ago we didn’t have this range of options, now there are many ways to help you sell overseas.
Many people worry about selling overseas.
Why would they buy from me?
The reason they will buy from you is because of the unique selling points and price on your products. Selling to most places is not too different to selling locally. Sure there is the need to translate product titles and descriptions, but there is international demand for everything.
If someone is looking for a product or service, of course, they are more than happy to purchase it from an individual or company domiciled in a different geographic area.
Setting up an ecommerce business gives you the satisfaction of being your own boss.
Ecommerce Entrepreneurs are looking to capitalise their work-ethic. Growing their own business and help customers with their goods and services.
It’s a far more personal proposition than being an employee, and it’s attractive to many people that share that mentality.
Being your own boss puts your future in your own hands. You live and die (as a business) by the ideas and decisions you make.