Business · March 7, 2023

How To Start Online Retail Business

How To Start Online Retail Business – Almost everyone is shopping online today. Some may even say that e-commerce is one sector of the economy that is recession proof. In fact, US consumers are predicted to spend $668.50 billion — or 12% of total retail sales — through online stores in 2020. That’s more than $1 out of every $10 spent. As a small business owner, you may be asking yourself: “How can I compete?” You have poured your heart and soul into building your brick and mortar store. Your shop/boutique helps fuel your small town. But when a global crisis wipes out the roads and the economy to the south, you have to get outside your walls to survive. E-Commerce Growth An eMarketer report shows e-commerce retail sales are predicted to more than double, from $449.88 billion in sales in 2017 to a projected $969.70 billion by 2023. That means more than 16% of all retail sales will be spent. online. Source: emarketer report US Ecommerce 2019 Why do analysts predict this steady growth going on? Check out these seven facts: Millennials, a large part of the retail shopping industry, have grown up using e-commerce platforms. Gen XYZ and Baby Boomers are no longer afraid to put their credit cards online. They are comfortable with – and even prefer – shopping online. Most people carry the digital world with them. With mobile phones at all times, we can shop anywhere, anytime. Social media influences our purchasing decisions every day and makes it easy to share products. We are a desirable society. We want it now and we expect convenience. Comparison shopping is easier online (easier again!) versus traveling from store to store. You can’t buy niche products at your neighborhood big box store. A niche market has a very loyal customer base who will look for specific products online. A Recession is a Time to Invest in Growth We all hear about “changing income streams,” but what does that mean during a recession? It means finding new audiences for your products, improving your current offerings and being creative about how you present yourself and your brand to the market. Examine your current product lines and look for gaps and opportunities. What function does your product fill for your customers? What other jobs do those same clients need filled right now? What new customers can you get through an online store? Use this opportunity to put your business ahead of your competitors. Where to Start with an Online Store First of all, don’t be fooled into thinking that you need a complex, multi-page website with thousands of product offerings. An e-commerce website can be a simple one or two page website that offers a few products. You can build on the site as you grow. Keep these things in mind when you start mapping out your store. Technology Decide which e-commerce platform you want to build your store on. There are many to choose from, such as Magento, WooCommerce, Shopify, Wix, YahooStore and more. Find a web agency or web developer who has experience in a few platforms and ask for pros and cons recommendations. When choosing a platform, important features to explore are: Content Management System Design Options Feature Search Shopping Cart Pricing and Order Management Payment Systems Also, look for additional features that may be integrated in the future, such as such as email campaigns, directly. chat and video. Branding It is important to have a brand look, feel and message for your online store. If you’ve never taken the time to develop your brand logo and look, or you feel your brand is outdated, now is the time to do it! Consider these questions: What is your differentiator? Who are you targeting? What is your story? How is your brand? What is your brand voice? What emotional response do you want to evoke in your customers? Don’t stop at your online store! Convey your branding to your packaging and packaging, which is a great way to create a unique shopping experience. Use inserts to show how to use a product or cross-sell other products. Professional packaging signals high quality and allows you to engage with your audience and build excitement. Content The content of your website should use the language and language of your customers. Here are some important features to have within your website to help you sell: A ‘Rich’ Home Page. Your home page is where most of your traffic will land, so use the space. Include lots of pictures so customers can ‘see’ the product in progress. Also, make a unique selling proposition. Include a section for your most popular products and a section for deals, steals or discounts of the day. The home page is also a great place to feature videos of your products. Tip: Don’t worry about getting people to scroll, because people do scroll today – especially when they’re shopping. Think of scrolling down the home page as a new shopping window. Here are a few more tips on how to create a stellar homepage: Make it mobile-friendly. That’s a must-do, period. Include a phone number or form to let buyers contact you easily. Place the shopping cart in the right corner of the header, as that’s where people expect to find it. Make the search bar bigger. If users are searching on the bar, they are more likely to buy because they are already looking for something specific. Also, through analytics, you can see what they are looking for. Product Description. Make sure you provide information about the product’s benefits to the customer, not just listing the product’s features. Answer “how will the customer benefit from owning this?” when writing notes. Include product images and if possible, videos too! Why Buy From Us? Tell your company story and brand differentiator. Why choose you over competitors? Frequently Asked Questions Answer common questions that might prevent someone from buying, such as those related to shipping costs, return policy, sizing, how-to, etc. Take a look. Make it easy to follow and easy to complete. Evidence. Include customer testimonials, reviews or social proof. Privacy Policy. Common requirements and best practices. Entry Opportunity. Allow users to opt-in to get a discount on their email subscription. They get savings and you start building an email list for future deals, product launches and incentives. In fact, 81% of online shoppers who receive emails based on previous purchase habits were more likely to make a purchase as a result of a targeted email. With an online store going live, you now have opportunities to reach new audiences, target customers through email and social media and keep your product available 24/7 regardless of where your audience is shopping from or where the economy is. guided. Discover More Resources for Proofing Your Business

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How To Start Online Retail Business

How To Start Online Retail Business

Search by Author Patty Cisco (233) Kelly Braun (74) Marketing Essentials (60) Kameron Hurley (25) Tyler Louth (25) Jessica O’Brien (14) Jessica Lammers (12) Mark Blackford (8) Angie Klosterman (7) Grant Covault (6) Brooke Taylor (4) Rachel Stephens (3) Alexandria Frye (3) Christopher McClellan (2) Laura Germann (2) Mike Judy (2) George Zlatin (1) Melissa Smalley (1) Josh Forsthoefel (1) Jenna Rosengarten (1) Alex Wilker (1) View all This past year has increased consumer reliance on e-commerce, which has also fueled the fire for many people to start their own online retail business.

Your Guide To Start An Online Retail Business From Scratch

Maybe it’s you, or maybe you’re interested in working remotely from anywhere in the world. You’ll take your idea and grow your online retail business with nothing more than a laptop and a solid Wi-Fi signal.

Either way, you live in the best time in history to start an online retail business. Technology, infrastructure and information at your fingertips can help you go from dreaming about a business to running it.

As an online business owner for over a decade, I want to share an overview of each of these three key areas. You have the opportunity to start building your online business today if you choose, and these tips can help you along the way.

Every business has some kind of solution that it sells to customers. The process of developing that product or service, finding customers, and then making sales is what develops an idea into a company. Your starting point is

Things No One Told You About Starting A Retail Business

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