How to start an eCommerce business: A first-time entrepreneur’s guide
eCommerce, simply put, is short for ‘electronic commerce’. It involves the process of buying and selling goods and products online – via an ‘electronic network’ (also known as the internet).
As the eCommerce process is reliant on the digital space to conduct commercial transactions online, it offers an array of benefits over traditional retail businesses – especially in terms of ease, convenience, and affordability during the initial setup stages of a new online business, as well as the reduction of future overhead costs in the long term.
Following the global COVID-19 pandemic and ensuant lockdowns worldwide – which forced the closure of retail shop fronts and in-store experiences internationally – the success of eCommerce stores rose to unprecedented heights. Also, more of us were spending more time on the internet than ever before – surfing, browsing, and of course, shopping online. Indeed, global internet usage during this time increased by as much as 70 per cent . eCommerce businesses were quite literally in the right place, at the right time!
Yet, the success of the post-COVID lockdown eCommerce boom does not appear to be dying down anytime soon – with many shoppers set to continue using the accessibility and convenience of online stores as their first preference moving forward. Our online shopping habits have been shaped, influenced, and indeed redefined by this sweeping boom in eCommerce, and undoubtedly, these shopping habits are here to stay. Right now is the perfect time to start your very own eCommerce business, if you haven’t already!
The first, most important step in setting up your eCommerce business, is to conduct market research into the most popular goods and products to sell online. You may also like to research what audiences you will be targeting with your products, as well as look into the current market and your […]
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