How To Start An E-Commerce Business


Posted February 19, 2022 by firststands

firststands business ideas help you manage your business by implementing the correct strategies to can lead to your primary sources of revenue e.g- dropshipping, YouTube automation, etc.
 
If you are searching for startup ideas E-commerce is one of the best online business ideas for everyone. Due to the pandemic most people are switching their shopping habits from offline to online and it's the best moment to get involved in the E-commerce business . where you can sell any item you wish and make a decent income.
What Is E-Commerce ?
E-commerce is an online platform where you can market any product through your website , or create your own store where you display your items online , and create a great source of revenue.
Types Of E-commerce Business
Business To Business (B2B). – It’s a way of online transactions between 2 different businesses. It refers to business that’s conducted between two companies. For example-manufacturer to wholesaler or wholesaler to retailer.
Business To Consumer {B2C} – It refers to the process of selling products or services between businesses to consumers or vice versa. For example – amazon to customers directly.
Consumer To Consumer {CtoC} – It is the process of exchanging products and services between consumers. For example- ebay.
GROWTH OF E-COMMERCE
In the last decade, widespread use of E-Commerce platforms such as Amazon and eBay has contributed to substantial growth in online retail. In 2007, E-Commerce accounted for 5.1% of total retail sales; in 2019, E-Commerce made up 16.0%.
The E-Commerce sector has registered a growth of 36% every year in the last quarter of 2020. The biggest beneficiaries of this rise are the personal care, beauty, and wellness categories which grew by 95% every year. Meanwhile, the electronics category rise by 27% annual growth.
The global E-Commerce market is expected to reach USD 16,215.6 billion by 2027, at a CAGR(compound annual growth rate) of 22.9% during the forecast period of 2020 to 2027.
How Does E-Commerce Business Work?
1. Find a high-potential product.
There are several things you need to consider when you are deciding what your product offering will be. You will want to find something that has a large global demand, high margins and can be easily warehoused and fulfilled. Use google trends, ebay top products and amazon best sellers are the best resources to help you to find best products. Pick something that you will be interested in, because you’re going to have to invest a lot of time and energy if you plan on launching a successful E-Commerce business. The more enthusiastic you are, the easier it will be.
2. Source of manufacturer.
It is essential to find a reliable manufacturer who is able to provide products that meet the needs of customers. If they don't, customers will not be happy with your product and may not purchase from you again.
3. Decide the brand name and develop the website.
If you have the knowledge to build a website, you're on the right track, or, if you don't know how to do so, you are able to get in touch with us and we'll create an excellent website at the most affordable cost for you .and we'll help you understand on how to manage your website in the best manner.
4. Shipping process
It's up to you how you are going to deliver your product to customers by taking strain of delivering and spending a lot of money in less margin from door to door. instead of that you can use any shipment process like dropshipping paying a certain amount on every delivery. For that you can directly massage on firststands for shipment at best price.
5. Establish revenue goals.
Also, look for ways to cut costs, because as your sales volume increases, it can be a way to drastically increase your revenue. If you are doing a lot of transactions, don’t be afraid to negotiate a better rate with your client .You have to take care of these things – How much does your product cost, per unit, delivery charge? What are your shipping costs, including all fulfillment components, such as staff, software, postage, etc.

6. Design a marketing plan .
You have a product and a website, now you need to figure out how you are going to put your offering in front of consumers. Who is likely to be interested in your products ?
Advertisements help you here through social media marketing you can get that audience who are interested in your product and While your marketing plan should also include long-term components like search engine optimization, you need to focus on generating sales and revenue right out of the gate if you want to scale quickly.
If you know how to do social media marketing or generating leads on SEO so that’s great or if you want this to be done by someone else so you can contact us on firststands we will provide you amazing leads .
Make sure you track everything — set up your conversion pixels and goals so you know where every single sale originates from. The more data and information you have available, the more targeted your campaigns can become and the quicker you can grow.
Launch your online store.
E-commerce platforms and vendors
An e-commerce platform is a tool that is used to manage an E-Commerce business. E-commerce platform options exist for clients ranging in size from small businesses to large enterprises. These e-commerce platforms include online marketplaces such as Amazon and eBay, that simply require signing up for user accounts, and little to no IT implementation. Another e-commerce platform model is SaaS, where store owners can subscribe to “rent” space in a cloud-hosted service that does not require in-house development or on-premises infrastructure. Other e-commerce platforms may come in the form of open source platforms that require a hosting environment (cloud or on premises), complete manual implementation and maintenance.
A few examples of e-commerce marketplace platforms include:

Amazon, eBay, Walmart Marketplace, Chewy, Wayfair , Newegg, Alibaba, Etsy, Overstock, Rakuten, myntra , (for free setup in fashion) meeshu, shopclues, snapdeal , flipkart etc.
Vendors offering e-commerce platform services for clients hosting their own online store sites include:
Shopify, Woo Commerce, Magento, Squarespace, Biocommerce, Ecwid, Salesforce Commerce Cloud (B2B and B2C options) Oracle Suite Commerce
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Tags business consultant , business ideas , ecommerce , ecommerce business ideas , ecommerce market , how to sell product , online business ideas , small business ideas
Last Updated February 19, 2022