Having an E-Commerce website can bring you some steady extra income each month, because the E-Commerce sales are on the rise on a global level. Thousands of people are doing it every day, so why not get your piece of the cake? Internet shopping cannot be considered a trend no more, because it has become a normal way of purchasing goods for those who have an access to the Web. According to eMarketer, the global retail sales will increase to reach $28 trillion by 2018.
Setting up an E-Commerce store might sound as a complex task, but is actually not that difficult. Here is how to start your E-Commerce store in a few steps.
#1 – Choose A Product And Industry
The first and most important decision that will define your future online business and determine the success of your website. How to know which product to sell? When choosing an industry and product, take these things into consideration:
a) Price – It should be neither too low nor too high. If too low, reaching a positive ROI will be challenging, and if it is too high, customers will then want to speak with someone about the product before buying it (and that means paying for additional customer support). The sweet spot for online sales is the $100-$200 price range.
b) Margin – The majority of products sold online have a margin around 30%-35%, but it all depends on the industry. Make sure you know the margins before settling on a product.
c) Shipping size – Heavier and bigger products have higher shipping costs which negatively affect sales. Choose smaller products that do not require expensive shipping costs.
d) Local availability – When the product is unavailable in local stores, it means that driving sales online will be a lot easier. Online purchases are more frequent when a certain products have not made their way to brick and mortar stores.
e) Passion – The last but not the least of things to consider is how passionate you are in the industry. Every work comes certain frustrations and obstacles, but if you have passion for the business, overcoming them will be a piece of cake. What do you enjoy doing? For example, if you like reading, start an E-Commerce site that sells old and antique books.
#2 – Find The Manufacturers
Once you choose the line of products you want to sell, next step is finding those who manufacture them. You can find them via Google Shopping search engine that only searches physical products sold online. Just enter your product into the engine and check out those manufacturers that show up in the section “Brand”. Other way for finding manufacturers is through directories of suppliers. Pay attention to Wholesale Central and Worldwide Brands. Build your list of manufacturers and start reaching out to them.
#3 – Set Up The Website
Once you have chosen your products and found manufacturers to work with, it is time to set up a website page. First, choose an E-Commerce platform that will manage all aspects involved with a functional E-Commerce site. There are many E-Commerce platforms available and which is the right one depends on your needs. All of them are powerful and easy to use. If you plan to use an open-source platform, you should next acquire a domain name and website hosting. An E-Commerce site needs to have an SSL Certificate to encrypt sensitive data (personal information and credit card numbers). If you are not sure what to do exactly, you can take some advice from Mind Arc, a digital agency from Sydney. Invest in good logo and website design, because a poorly designed website will not attract potential customers. To make things easier, you can always purchase a website template and get a logo for cheap by hiring a freelance graphic designer.
What is left to do is to make all these things happen. Take what you have learned and put it into practice. This is all you need for starting an E-Commerce site. Be patient, give your best efforts at performing each of these steps, and enter the growing world of E-Commerce.