5 Tips for Starting Your e-Commerce Business
The fact is, more and more sales are being completed with e-Commerce Business online, now than ever before. Brick-and-mortar stores still have some appeal–especially if customers need to physically go in for services or products, like with hair appointments–but if you’re selling products that can be shipped, then more and more people are expecting to be able to select them online and have them delivered directly to their homes. Amazon has made this popular, but now people are looking past big retailers to find smaller, niche business they can buy from and support.
So if you’re thinking of starting an ecommerce business–whether that’s selling used pianos or eco-friendly shoes–here are some tips to follow so that you’ll make the most out of your business:
1. Choose a niche
The fact is, ecommerce businesses are so popular now that there are lots of people running them. It’s a great investment–the USA and Canada alone have about 1.3 million ecommerce companies, which means that even if you’ve got a great product, there are going to be a lot of competitors. So you have to find a niche that no one else is covering or create your own specialized twist on that niche.
2. Find the right suppliers
Once you’ve determined your niche, the next step is to figure out who you want to work with as a supplier. Multiple suppliers. After all, according to Inc.com, “By finding a niche market, not only will you make it easier for yourself to rank in Google, but you will have less competition. Also, note that I said suppliers and not simply supplier…No matter how many great reviews they have, or how much you trust them, you will run into fulfillment issues over time. It’s in your best interest to have other supplier lined up, who can fill the void.”
To learn more about the subject of suppliers, from what terms you need to know to how to evaluate retailers, check out this thorough article from The Balance. After all, retail ecommerce is a $220 billion market, so it’s worth doing as much research as you can.