E-commerce is simply buying and selling on the internet. It is a multibillion dollar industry. The current world richest man, Jeff Bezos is the founder of one of the world’s biggest e-commerce platform, Amazon.com. China’s richest man-Jack Ma is the founder of the world’s largest e-commerce portal Alibaba.com. On November 1st, 2015, Alibaba.com recorded the world’s largest online retail sale of $14.3 billion in a day- this is 5 times the amount made on cyber Monday in the US.
In 2015 retail e-commerce sales worldwide amounted to $1.55trillion. Online trading in Nigeria was predicted to grow from N172billion in 2016 to N217billion in 2017. According to Ventures Capital, Nigeria is Africa’s leading e-commerce market being a country with a huge consuming population.
E-commerce in Nigeria alone is projected to hit $10billion dollars in 2019. Most businesses across Africa and the world in general are making more money from selling their goods and services online. E-commerce retail revenues worldwide are projected to grow to $3.4trillion in 2019. And that of Africa alone according to world renowned consulting company- Mckinsey is going to hit $75billion in 2025.
According to Goldman Sachs, 2018 mobile e-commerce revenue will be more than the total e-commerce revenue in 2013. That is to say online sales alone using android, ios or windows phones in 2018 will exceed all e-commerce transactions in 2013.
Most times when we hear, read, or get to watch subjects relating to e-commerce, what comes to mind are the names of big e-commerce giants such as amazon.com. alibaba.com, ebay.com, konga.com, Jumia.com etc. We think and sometimes believe only these e-commerce giants eat the big e-commerce pie and that its capital intensive to start an e-commerce business. Well am sorry to disappoint you it is not. There are other ways to profit from this e-commerce business without starting a big e-commerce portal such as alibaba.com which is capital intensive.
You can start your own small e-commerce business by simply leveraging on these e-commerce giants. This may include a drop shipping business, mini-imporation business, niche affiliate e-commerce business. You can also download tutorials on Youtube, learn how to create an e-commerce store, and render it as a service to clients for financial reward.
You can start any of the above listed e-commerce business with $100 or less.
Watch out for my next post as I explain each of the above e-commerce business models in detail.
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