Traditional shopping habits are rapidly changing. More consumers choose to shop online rather than travel to a store. New trends are transforming the retail landscape, as, in 2018, 4 in 10 purchases were made online, which generates almost half of the retail sales. These forecasts are beneficial for business people who are considering to start their own e-commerce company. As the niche swiftly grows, it’s time to jump on the boat and launch your private enterprise.
Nonetheless, launching a company is a significant step in your life, it has to be carefully measured and studied. Moreover, a business requires much time and effort to make it work and generate profit. However, if you are seriously considering to set up an eCommerce brand, then we suggest five reasons why now is the best time to do that:
On 2017 online sales generated more than 2.3 trillion U.S. dollars, and by 2021 it’s predicted to reach 4.48 trillion U.S. dollars. A forecast for the eCommerce market is more promising than ever, which makes a good ground for new companies. However, a profitable field means that competition is high and hard to bare. Therefore, acknowledge the market ecosystem, possibilities and obstacles, avoid diving too fast without a strong knowledge background.
Today’s digital revolution has made an immense impact on people daily lives it’s changed the way we communicate, study, work and not to mention, shop. It is easier than ever to purchase and sell goods online, without leaving your home or office. This trend has boosted e-commerce success as it became way easier to set the business online and bring an audience. Using the latest technologies it’s not only possible to buy products, but also lead the company. It gives you the freedom to work from everywhere and hire people from all over the world.
E-commerce usually requires low costs involved, as most of the business is run online. To make it even easier many companies implement a drop shipping method when shop itself doesn’t store goods but purchase it from the third party. In this case you can save storage and extra labor costs, moreover, an online business doesn’t need many employees and can be managed by a few, additionally hiring freelancers or part-time employees. Minimal investments can help to manage revenue more effectively and allocate it to other pressing matters.
Small Business is Thriving
Small enterprises are getting more popular recent study shows that in 2018 small businesses had grown by 53%, when in 2017 it had 46% of a growth rate. This is a result of more buyers supporting smaller companies and new habits to purchase unique and unitary goods. If you want to open an e-commerce business, have in mind, that it has to serve the main benefits of a small enterprise, such as unique items, friendly and personalized service. For example, when you are running a small company, it is easier to customize an email campaign. 78% of consumers won’t consider opening your emails if they aren’t personalized. Hard to believe? Check recent eCommerce statistics and find other most surprising stats.
Flexibility is one of the major factors that makes entrepreneurs start an online business. An e-commerce company is manageable online which makes it accessible to administer. You can work from overseas laying on a beach and still manage to run a successful company. Time management is also more adaptable because if you decide to work from home, probably you won’t have official working hours. Thus, maybe it’s time to pack your suitcases and move to a tropical country where you could easily run an eCommerce business.
The online retail market is thriving, and each year a forecast is getting better. A prompting future makes eCommerce appealing for entrepreneurs and enthusiasts. If you are one of them but still doubting, check the latest predictions and think of opening your online shop business. No matter how challenging running a company could get, it is worth to fulfill your dreams by launching a successful online enterprise.