Whether you an entrepreneur who is looking to open up a new branch of his business or you are just looking to start an eCommerce business, the first question that should come to your mind is, who is your target market and is it tech-savvy?
Unless you have already decided on your business, you need to take these two considerations in mind before setting up. Your target market will help you determine who you will be catering to, their lifestyle and habits, and their general likes and dislikes. Once you know all this data, you can ascertain the needs of your potential market.
In this modern day and age, internet penetration is at an extreme high, and almost everyone now has a smartphone which is either connected to a Wi-Fi or GPS. So what makes these tech-savvy people tick? The answer to that is quite simply the fact that they still have to carry on with their daily routines physically, though they can easily be avoided with the help of their smartphone. This includes the likes of shopping, paying bills and other stuff which eliminates the need for carrying cash or even credit cards.The question now arises, why should you start an eCommerce business in 2017 instead of an old-school retail outlet?
Reasons to start an eCommerce business
1. eCommerce is expected to grow
When you are choosing a business model, the first thing you need to research and follow are the different business trends rising in your country. Currently, the eCommerce business is on the rise, and it is expected to grow further in the year 2018.
This does not just include your country but businesses worldwide. It would be beneficial for you to start an eCommerce business in 2017 as by 2018, your company can reap the profits that are inclined to grow with the growth of the global market.
2. Easy to operate
eCommerce business is quite easy to handle, though we agree that initially, you will be required to put a lot of effort, making sure that all your logistics are in line and various retailers are onboard.
However, once all that has been set and done, you will find that it is quite easy to operate.
3. Almost 80% of the internet population has made a purchase
Imagine the number of people online every day. Now imagine that 80% of that population has made an online purchase at least once in their lives and some of them are frequent buyers. Numbers like these usually tend to grow and with the growth of eCommerce, this figure will continue to rise.
An eCommerce business does not require too many funds and if it does, it is usually at the beginning of the startup. Now you have a website which you can take advantage of to help you build the funds to raise your empire.
5. Earn as you sleep
The best part about having an online business is that it never shuts down! You will be sleeping, and your business will be running as people will be making purchases, which only means that you will be making money in your sleep.
If you have any question, please post them below, and we will be sure to reply. If you about to start a new eCommerce business, let me know which platform you intend to use.
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