Technology is taking over our world. Think about it: almost everything we do now a days revolves around a tech device which is probably your phone, computer or tablet. Anything we need, is at the palm of our hands and in reality the world of internet is relatively new. Did you know that although e-commerce dates back to 1991, operations weren’t entirely reliable until the year 2000? Which means e-commerce has only been in our lives for the past 16 years and already the market has expanded tremendously and it will keep growing. Forbes is projecting that e-commerce sales in USA will reach $414 billion by the year 2018! Who wants a piece of that pie?
One of the most popular activities people do on the World Wide Web is shopping! (music to our ears as business people) and it’s for the simple reason that you can do it from wherever you are. If you have a phone, tablet or computer you can not only shop from anywhere in the world, you can check price differences with just a click and you can even send a “Wish List” to your family, friend or significant other if you are trying to persuade them to buy you a little something.
E-commerce has some great advantages for business people/entrepreneurs:
- The web and its search engines provide a way to be found by customers without expensive ardvertising
- Small online shops can reach global markets
- Web technology also allows to track customer preferences and to deliver individual-tailored marketing
The greatest thing about e-commerce from a business stand-point is the lower overhead cost since a brick-and-mortar does not have to built; everything is online! (Amazon started out of a garage; how’s that for inspiration?) Sometimes e-commerce business owners feel out of touch with their customers because there’s no in-person connection but thankfully, “pop-up” shops are on the rise and stores can build a customer relationship at local markets, parks, airports even malls.
Overall, e-commerce is an amazing opportunity for entrepreneurs as there is space for everyone but, keep in mind, just like any business, it needs a plan and marketing strategy. 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.
Have you jumped into E-Commcerce yet? What has been your experience?