If you’re wondering, how to start a successful e-commerce business You can stop scrolling now, you’re on the right page. Further, if you’re even more inquisitive, and are pondering do I really need an E-commerce business even though we have a profitable brick and mortar business? Undoubtedly, the answer is a resounding YES + YES!!!!!!! Thanks to the uninvited Covid 19. But in all honestly, we can’t completely blame the pandemic for the uptick of Ecommerce.
It should be noted, the E-commerce business model has been brewing for over 25 years. Notedly, two of our largest companies in the country have been in the online e-commerce space for more than 25 years. In all actuality, E-commerce is no longer a mishap or let’s just wait to see what happens. This online business model is a proven and viable small business strategy. that should be woven into our marketing mix.
“By 2020, brick and mortar retail spaces will be little more than showrooms”
Eddie Machaalani & Mitchell Harper, Co-CEOs of Bigcommerce
Let’s start with a simple definition of eCommerce
What is Ecommerce?
To keep it simple the “E” represents electronic, and Commerce are the goods and services sold. So Ecommerce is the transfer of goods, and services that are brought and sold electronically. It’s trending because of the simplicity and ease of the transitions. Moreover, it makes for a smooth seamless transfer. To emphasize, you can browse and buy from the comfort of your device.
According to research, for the past 10 years, customers have been searching, price comparing, and shopping online. Addedingly they are checking social media networks and reviews before making purchasing decisions. Consequently, as small business owners, our job is to be visible or unfortunately become obsolete.
In view of this, the days of putting up a sign, shaking hands, and smiling are gone. Contrarily, the facts are if you’re not engaging with your customers, they’re engaging with your competitor’s satisfied customers., and that could spell Danger!!!
Thus, if you’re still asking what all this has to do with starting a successful eCommerce business… the answer is “EVERYTHING”. An Ecommerce business gives you an unfair advantage. Clearly, we aren’t saying that brick-and-mortar businesses are dead, no to the contrary. However, to add an eCommerce leg to your business, without doubt, can Future-Proof your business and build brand loyalty, that’s difficult to duplicate otherwise!
“When you say it, it’s marketing. When your customer says it, it’s social proof”
Andy Crestodina, Co-Founder / Strategic Director Orbit Media Studios
In 2017, the global retail e-commerce market hit $2.3 trillion in sales and is projected to exceed $4.5 trillion in 2021.
Also in 2017, U.S. shoppers spent a record-breaking $5 billion online on Black Friday.
More than 12 percent of the 100,000 highest-traffic websites are e-commerce.
In the next article we will discuss the 9 advantages of ecommerce.
Do you have an E-commerce success story to share?
Let me know by leaving a quick comment below.