In the last decade, many businesses have worked their way through to the eCommerce market. Many of them started and remained eCommerce businesses, conducting everything online, without ever switching to a brick and mortar store. The fact is that eCommerce is continuously growing. The largest and fastest growth has been recorded in the Asia-Pacific, the region which has the largest digital retail market in the world. The number of online retail store businesses is projected to continue its tremendous growth in the years to come and that sole reason is enough for you to get your piece of the cake. Get acquainted with the basics of eCommerce and future innovative trends, create a plan and venture into eCommerce.
If you need more persuasion, here are the top reasons for getting tangled with eCommerce.
5 Reasons To Start Online Retail Store
1). The Rapid Growth Of The Global eCommerce Industry
It is projected by eMarketer, an internet research company that the eCommerce industry will grow by as much as 13%-25% by 2018 when global retail sales will increase 5.5% and reach total worth of about $2.5 trillion.
Retail commerce sales on the Australian continent are predicted to grow to 14.52 billion US dollars in 2018 and represent 5.6% of retail sales in the country. Low double-digit gains are projected to continue through 2017. All the predictions point out to nothing but growth, and that is an enough reason to dive in into the eCommerce industry.
2). 24/7 Product Availability On A Global Level
There are neither opening nor closing hours for an online retail store. Products are available non-stop and can be accessed from anywhere in the world, which is another advantage to brick and mortar stores. It means you can create a passive income stream. Earning money during sleep time sounds compelling, doesn’t it? What you will need to do is set up an online retail store section on your website and drive traffic by marketing it to potential customers.
3). Easy To Start
You do not have break the bank in order to launch your online shop. It requires little investment because there are numerous tools for making a successful online-based business start. Once you set up your eCommerce store, the selling can start within minutes. If you do not have the means or skills to do it yourself, try hiring help from those with expertise in the field, such as Mind Arc, a digital agency from Sydney.
4). New Customer Acquisition
The potential of having an eCommerce store lies simply in the population’s access to the Internet and, according to recently published statistics that is about 43% of the world’s population. For customer acquisition, there are several marketing channels available for leveraging, and that is the advantage of owning and operating an internet-based business today. The goods can be showcased on social media sites such as Facebook, Instagram and Twitter, making the online marketing basically free. In this way, you can acquire more customers at a fraction of the cost of traditional marketing.
5). The Majority of Internet Users Have Bought Products Online
Why are eCommerce stores becoming more popular than brick and mortar retail? One important reason is – convenience. All generations of Internet users use their computers and smartphones to browse through Online Stores, find and purchase unique products or service. The purchases are convenient, easy, quick, and the customers are offered access to a variety of goods, better pricing and different discounts. Just look at websites like Amazon or eBay. The interesting has become a one-stop shop for everything. Those who realized it first have taken the advantage of doing Online Business.
Having an eCommerce store is cost effective, has a higher margin, means better productivity, and has various economic benefits (allows users to make transactions without needs for store or infrastructure investments). You only need a good website, customer service, and a some creative ways to attract more customers to your store.