History and Facts of Ecommerce or Online shopping
The value of ecommerce is not in the ‘E’, but in the ‘commerce’ ”
This insightful quote by Octavio Paz aptly defines what e-commerce is. The growth of e-commerce has done a major impact on the lifestyle of the people. Changing shopping style, changing taste and variety has led to the growth of more and more e-commerce stores to emerge. Although some get to the top while others are still finding out better ways to flourish.
E-commerce in layman terms is the selling and buying of goods using the internet. But it is not that simple as it ought to be because the demands and number of buyers are growing exponentially. Around 1.66 billion people worldwide are buying goods online starting from clothes, cosmetics to food and fabrics. Big entrepreneurs are setting up an online store along with physical stores because this gives a better conversion along with wider customer base.
- The largest customer base of e-commerce is in Asia
- Accessories and apparels tend to be the fastest selling category in ecommerce
- In 2017, ecommerce market accounted for around 25% of the global market
- A margin of around 60% of women in US pay attention to discounts and promotions online
- After China, Japan and US, UK is the 4th largest ecommerce market
These facts surely confuse you in a moment, isn’t it? Now if you aspire to enter this big family of ecommerce, you must know a few prerequisites to start selling
- Identify your product; Know what you want to sell to the internet customers because without knowing what you want to make business of, moving to the next step is not possible
- Choose a Best platform for your website; for this you may use already existing platforms like Amazon and eBay or even build your own Store on Shopify or woocommerce. There are platforms like Shopify which lets you save your time and expert do the design work at a very nominal price
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- Choose your domain name; This is a fun thing to do because your domain name will be your brand name and can make your website famous among the people
- Build an attractive ecommerce website. The website is the one which can either be a pain or a gain because if the website is not appealing and attracting to the customers, then you may directly lose the game.
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- Set a merchant account because merchant accounts manage the money that you get when your products are sold
- Obtain a SSL certificate because trust is the main backbone of any business, ecommerce or physical store. If the customer doesn’t trust your store, probably he will never visit you again. Obtaining a SSL certificate ensures that all your customer data is safe and secure by advanced encryption techniques
- Get set Go!! You are done with the basic steps you need to incorporate for starting an eCommerce website. So, as you are sorted with building and implementing your e-commerce store, start selling!!