E-Commerce & Why You Should Be Selling Online
Updated: Sep 8, 2020
An average of 1.8 billion consumers shop online, below are a few reasons why you should be getting a piece of the pie.
Before we begin, let's first start with the basics. What is e-commerce? E-commerce is a commercial transaction for goods or services across the internet. A widely known selling mechanism, in 2019 e-commerce sales worldwide reached an estimated $3.5 trillion dollars.
As the exchange of information increases annually, many businesses are ditching the traditional storefront location and focusing solely on increasing their online presence. In this article, we will share some of the benefits of an e-commerce business and why you should focus on online selling.
Product Searching Begins Online
Think about it, the tendency to search your local brick-and-mortar store for a product is long gone. An increasing number of consumers are utilizing the web to search for products and the nearest retailers who stock them. Other consumers are going a step further and placing their orders directly on the retailer's website; allowing their products to be delivered right to their door. With an e-commerce store, you can capitalize on this new approach. Consumers are buying everything online and there is a niche waiting to be fulfilled.
Make Money While You Sleep With e-Commerce.
With a traditional storefront, your income opportunities are limited to your business hours. With e-commerce, your store is open 24 hours a day, 7 days a week, for 365 days a year. If you had the possibility to generate income while at sleep, wouldn't you? E-commerce provides this option to a worldwide audience, not just at the local or national level.
Low Startup Cost
Another benefit associated with an e-commerce store is the low startup cost. A branded website, with a catalog of products intended to sell, should not be costly. OnServe provides custom e-commerce stores for an initial fee of only $500.00.
Customer Retention & Re-marketing
With a storefront, it's not uncommon that a customer buys a product and never returns again. E-commerce provides the opportunity to reengage the same customer multiple times by using email marketing campaigns to advertise custom promotions and discounts. By displaying your products via an ad exchange on product-related websites, also known as re-marketing, you increase the chances of converting your target audience. These two marketing initiatives, combined with great service, social media presence, and an easy-to-use website, will provide a greater chance of customer retention.
E-commerce is for Everyone
Whether you're a seasoned retailer or this is the first time you're hearing about drop-shipping, e-commerce provides a tremendous opportunity to generate income, and it doesn't take a tech-savvy professional to do it. In the US, 91% of the population has made a purchase online. In fact, projections show that global e-retail sales are going to grow to up to $4.8 trillion by 2021. E-commerce provides the opportunity for you to be an online retailer. Empowering, those who dream of having their own business, to turn that dream into a reality.