Worldwide, E-Commerce Is Expected To Grow By As Much As 13 To 25 Percent. The Top 5 Reasons You Should Start an Ecommerce Business
Whether you're a bootstrapper or an investor with a bit of extra money to start a new enterprise, e-commerce is a great field to get into, especially today. Even as a beginner in ecommerce, the tools and resources are all laid out for you. All you need is a strong work ethic and a desire to succeed.
Here are five reasons to start an e-commerce business now.
e-commerce is expected to grow by as much as 13 to 25 percent.
Projections from e-Marketer are showing
rapid worldwide ecommerce growth through 2018. This year is expected to peak at
nearly $1.6 trillion and by the end of 2018, almost $2.5 trillion. In the
U.S. alone, e-commerce growth is anticipated to be somewhere between
11.6 and 16.5 percent from 2013 to 2018.
In choosing a business model, it's always important to examine trends and
to move into growth markets whenever possible. The stats back up the notion
that the e-commerce model is a good choice for entrepreneurs that are looking to
start a new company, or those that are interested in diversifying and
If you want to get into e-commerce, there has scarcely been a better time.
The opportunities are growing by the day.
2. The ability to
earn as you sleep.
For brick-and-mortar businesses, location is of primary importance. It can
make a huge difference in terms of visibility and sales. In ecommerce, you
can set up a storefront at your own domain name and sell your products
globally. You don't need multiple storefronts to be seen across the entire
This seems obvious enough, but the implications are more far-reaching than
you might even know. The trend of "pop-up" shops are on the rise, as
some merchants are choosing to meet their customers in-person with little more
than a tablet, a card reader and a few sample products in hand. This means
proactive ecommerce merchants can build awareness for their businesses at
parks, subway stations and high visibility street corners -- without
violating any regulations or laws, of course.
E-commerce has a certain "passive" appeal to it, and while it is
certainly possible to earn while you sleep, business owners should be looking
to leverage technology at every turn to expand their businesses.
3. It's easy to
get up and running.
Not only have the tools for e-commerce gotten a lot
better over time, there are more of them than there ever were in the past. From
selling platforms to marketing automation and SEO tools, even bootstrappers can
get up and running without breaking the bank.
The most challenging aspect of getting set up is product, but if you are
passionate about a specific line of products -- especially if they have
helped you personally -- it makes it much easier to walk through the process of
building relationships with distributors or product sourcing. Additionally,
it's that passion that's going to drive you to do the work you need to do to
build a successful business.
4. Eighty percent
of the web population has made a purchase online.
As you can imagine, that 80 percent is only
going to grow. The key as an ecommerce business owner is to establish
trust and credibility with leads and customers. From developing an
attractive and easily navigable website to creating content that helps your
customers, there are many different aspects to earning their trust, but if you
commit to constant improvement, in time, you'll build a loyal following.
It isn't too much of a stretch to say that trust is one of the most
important aspects of running an ecommerce business. People clearly trust
etailers more than they did in the past, but security and privacy concerns are
still foremost in many people's minds.
5. You can sell more to customers down the line.
Practically every e-commerce business finds that reduced friction is extremely important for making more sales. Abandoned shopping carts are a prevalent problem, and you have to have a willingness to tweak and optimize your funnel to ensure maximum conversion.
Fortunately, there are some great retargeting apps and tools, such as CartHook, that can help with capturing customers before they're gone for good.