E-commerce is a huge phenomenon and is a bigger tool for generating revenue every year as more customers seek out products online, especially during the pandemic. Customers embraced online shopping gladly because it’s so convenient and safe, as you can see in the graphic below showing the tremendous increase in online sales over the last few years. Thus, creating a powerful e-commerce business offers great opportunities to increase revenue or business model for starting a new business online.
Image courtesy of Big Commerce
But, there are lots of reasons businesses should consider building a powerful e-commerce site, including the low startup costs, which means less risk for the budding entrepreneur. Building an online business isn’t a sure thing, however, and lots of pitfalls await the unwary or careless. Not only can poor planning and suboptimal decision-making cost your money and time, but they might also poison the pot the sink future efforts. Hence, we offer 4 tips to build success with your online business.
Building a powerful e-commerce business
Before we delve into our advice for building a powerful e-commerce business, let’s lay out some statistics about online retailing. First, you must know your customer and nothing substitutes for this deep understanding of your customer and what they want. Below, find some statistics from Optin Monster to get you started. As you can see, while nearly equal numbers of men and women shop online, they shop for entirely…