Nowadays, e-commerce seems to be slowly eating away retail stores. With each day, more and more people are turning online for their shopping. Either out of the convenience of shopping within your home, or thanks to the insane discounts on offer.
With all this, one thing is for sure; retail store days are numbered. Hence, as a traditional business looking to survive this Armageddon, how do you make this critical transition?
The right step would be to arm yourself with the correct information. Information contained in this ecomm elite review is a great starting point for anyone looking to delve into the world of e-commerce.
Table of Contents
What’s Ecommerce
Electronic commerce, commonly referred to as e-commerce, involves buying and selling goods, services, and products over the internet. These business transactions fall under four different categories. These are:
- Business to customer
- Customer to customer
- Business to government
- Business to business
- Customer to business
Currently, the most famous examples of e-commerce businesses include Amazon, Shopify, eBay, Flipkart, etc. investment flowing into this sector has steadily been increasing over the years. It’s projected that by 2022, industry revenue is expected to reach $6.45 trillion.
Getting Started
Opening a store isn’t as complicated as you may think. Shopify enables you to open and run an e-commerce business successfully. They have simplified the entire process and made it as straightforward as possible.
All the necessary steps, from registering your business, choosing inventory, selecting a theme, and much more are covered in the ecomm elite review guide. The course is designed with you in mind; it focuses on the crucial points, making it easier for you to understand what goes into opening a killer store.
Why Get Into E-Commerce
There are numerous reasons why going online is wise. It just might mean the difference between whether or not your business gets to see the next decade or not.
Mobile device- phones and tablets- proliferation continues to spearhead the spread and adoption of e-markets. And with the cost of internet connection expected to go lower, all signs point to growth in the sector.
Competition
Retail business is quite competitive, and with razor-thin margins, breaking even- leave alone turning a profit- is challenging.
Seasoned stores have the upper hand compared to newcomers.
On the other hand, e-commerce offers newbies a competitive edge. Making it easy for them to set-up their store and favorably compete with large retail stores such as Home Depot and Costco.
- Lower Cost Of Entry
Opening a brick and mortar store requires large amounts of money. You need to rent out a place, recruit staff, pay salaries and utilities, license and permits, and inventory. All this requires money to be paid up-front.
Unless you come from a wealthy family or recently won the lottery, most people can’t afford to raise the amounts required. E-commerce has significantly lower overhead expenses. This means nearly anyone can open up a business today!
- Open Day And Night
Most traditional retail businesses are limited by natural phenomena. This includes weather and time, where they may close at night or when there are severe storms. All this means is that businesses lose money during these periods.
By moving your business online, you can say goodbye to these limitations. Considering your transactions happen over the internet, you can conduct business irrespective of the time or season, hence more profits.
- Ease Of Scaling
Undoubtedly, this is one of the most significant advantages of opening an online store. Retail stores looking to scale their operations find it challenging. This is due to the logistics and cost involved in doing this.
In contrast, e-commerce owners don’t have to worry about this. With this business model, scaling is both simple and fast. It won’t cost you more than a couple of emails and time.
Since you don’t hold any inventory, all the costs associated with scaling your operations are transferred to your supplier. Once more, this brings in more money into your wallet.
In conclusion, if you’ve been wishing to get into retail but couldn’t manage to work around the cost, then you are in luck. Millions are taking to platforms like Amazon and Shopify and start building online empires for themselves.
You don’t need a degree in business to get started. Ecomm elite review guide contains most of the basic and advanced information necessary to get started today. Filled with tons of useful information, you get a 30-day, money-back guarantee. If you have the time and are willing to learn, give it a try, you have nothing to lose.
