“If you don’t find a way to make money while you sleep, you will work until you die” – Warren Buffet
As you know e-commerce is the purchasing and selling of services or goods through digital channels via the internet.
The eCommerce industry flowers into 4 categories, namely B2B (business to business), B2C (business to business), C2B (consumer to business) and C2C (consumer to consumer).
The eCommerce industry is soaring. But you may find yourself asking, ‘is a post-pandemic situation the right time to start an eCommerce business?’
The success of any business depends upon the flexibility of your brand vision, scalability of your business, and the functionality of your products during a crisis. The wavelength you share with your evolving customer and his buying preferences and his spending habits.
The eCommerce industry is booming year by year, making it a major force in the global economy. As time passes the importance of developing a strong online marketing strategy for business grows multifold.
A brick and mortar store will only provide you (depending on your business) half the sales that you could gain from the accumulative strength of a brick and mortar + eCommerce store.
To re-enforce our perspective here are some reasons why we think you should start an eCommerce business in 2021.
- The groundwork is elementary
Ecommerce tools have adapted to the needs of the trade and evolved to make it as simple as possible for you to manage the business with the least amount of friction. Elements such as SEO, selling platforms and bootstrappers can be tackled with a minuscule investment.
You’ll have complete control of your business, given that you choose to sell from a personal website. Depending on the business, it could be fairly easy to stand out from your competition.
- An ever-flowing income
Giving your customers the opportunity to make purchases while allowing them to surpass the barrier of time and distance is one of the reasons why eCommerce stores pull customers the way they do.
An E-commerce store allows you to assimilate your domain name and access customers from a global marketplace while also placing importance to your physical store (if you have one).
- Simplified logistics and distribution
Running an E-commerce business can mean that you have the opportunity to become a drop-shipper. This means that problems such as complicated details of shipping or renting warehouses will not be yours anymore. All you need to do is list out the items that you’re selling and let the supplier know.
This pedestals you as a middleman liberating you from the effort of stockpiling things to sell them. All you have to do now transfer or redirect the orders to the suppliers and let them take the order.
You’ve saved yourself the trouble of managing inventory, large investments, and worrying about product returns.
- The power of retargeting
Remarketing tools will allow you to capture customers before they abandon their shopping cart. You will be willing to ensure maximum conversion by tweaking and optimizing your funnel.
Re-targeting your customers virtually would be like a virtual salesperson who would contact the customer and nudge them to make a purchase. You can do this by sending an email shortly after a cart has been abandoned. You could also use certain marketing techniques to increase your sales by gaining game changing information such as how much time a particular customer has spent on a page, what kind of pages they are visiting and what they add to their cart.
You can leverage this information to send these individual automated yet personalized emails to spearhead their buying process.
- E-commerce is the new mainstream
Granted that there will always be some need for physical stores but e-commerece has split the consumer base into a category that it has forged itself, convenience. As an eCommerce store allows customers to get a wider variety of choices at their fingertips, their need to personally visit a store has been reduced.
Ecommerce has provided an edge over traditional retail avenues since some time now. It allows businesses to sell to young children directly instead of having to sell to their parents.
- Improving the economy
Taking in consideration the covid-19 pandemic, the baseline for forecast envisions a 5.2 percent dip in the global GDP. Global coordination and cooperation of the measures are needed to slow the spread of the pandemic along with economic actions to alleviate the economic damage. This may be the only way of uplifting the national and global economy.
An ecommerce store will help in controlling the COVID-19 situation while also contributing to the GDP. It’s the perfect way to do business while thinking about the bigger picture.
- Potential for expansion
Since starting an online business is basically child’s play and the brands, products and services out there are limitless, so is your potential for expansion. Once your business picks up more and more people will want to buy your product.
Online advertisers can help you gain more exposure and reach out to new potential clients since it is so cheap to continue. The possibilities of recruiting new workers and opening office spaces across the world are on the table too.
E-commerce allows you to sell more than you go down the line via content marketing. By creating value-adding content, you can capture the readers as email subscribers and notify them about discounts, promotions, and sales.
The ecommerce industry seems to be glowing in the COVID-19 pandemic as it’s been the only way customers can buy something safely. Although people across the world have been getting back to work, it’s safe to say that the covid pandemic has turned many customers in favour of the Ecommerce industry and 2021 is the perfect time to get started.