It’s highly likely that you have already been involved in eCommerce; you will have been a customer, using it to buy goods and services online, even if you haven’t been a provider with your own eCommerce business. This just goes to show how popular and far-reaching the idea is.
If you’re looking at ways to expand your current business or you want to start a new one, eCommerce could be the answer, and there are a number of reasons why this is. Read on to find out more about why eCommerce could be exactly what you are looking for.
What you will read in this article:
It’s A Growing Industry
Projections around eCommerce and online stores show that this sector is expanding rapidly, with as much as a 25 percent increase expected in 2021 to 2022. This means that there is very little risk when choosing this particular business model because it’s what people want, and it’s what they are expecting.
It is more unusual to find a website that doesn’t have some kind of store attached to it (even if it isn’t solely there to sell online) than one that does. This was not the case a decade or so ago, but times are changing rapidly.
In other words, if you’re not thinking of becoming part of the eCommerce revolution, you could very well be missing out, and it won’t matter how good your products and services might be.
It Won’t Cost A Lot
Setting up an eCommerce business is something that doesn’t have to cost a lot of money; you can do it for almost no money at all, in fact, which is why it is so popular with newcomers to the world of business. Once you have bought a website and domain name, you can start your business. You don’t even necessarily have to have any stock; this can be stored elsewhere, or even be sent out by a third party if you are drop shipping your items.
Spending money on marketing is always worthwhile, so this should be factored into your budget from the start; there is no point in having a great eCommerce store if no one knows about it.
You can also save plenty of money by shopping around. It might be you find you can save money on freight class shipping or you can cut costs by buying in bulk. Perhaps you can save money on your marketing by striving for organic reach. The more money you can save, the more you can invest to build your business more quickly.
You Can Make Money While You Sleep
Unlike a traditional, physical store, there are no opening hours when you are selling online. This makes it a lot more convenient and accessible for your customers, who are able to shop at their leisure without having to fit in with your store’s opening times.
Because of this, you can make sales 24/7, 365 days of the year, with relatively little input from you.
As long as your products are of good quality, priced correctly, and you do enough marketing, people will want to buy from you, and they will, giving you an ongoing incoming for a long time to come.