E-commerce is the way of conducting business in this digital era. As it requires less capital investment (depending on the scale of the business) and a larger target market. All due to the connectivity of the internet.
A local clothing shop’s general target market is the neighborhood it is set up in, the consumer network that it can target changes instantly and grows exponentially when that same retail shop enters the world of e-commerce. It now caters to clients from all over the state, country and even foreign nations, depending on the scale of the operations of the business. Having said that, it is generally less expensive to start an ecommerce business, however, it does not make it an easy process to go through.
Starting an Ecommerce business means a lot of hard work and building an identifiably distinct approach, in other words the business’s Unique Selling Point (USP) needs to be first understood by the business’s owners and then translated for the clients to easily recognize and remember the business.
In this article, you will find a checklist to start an ecommerce business, which is only the start of the journey. This is only a guide, the more you submerge yourself into the creation of your e-commerce business the more you will start to learn and better understand how it operates. You will make mistakes and build up from them.
Selecting what to sell
Generally, all businesses are divided in two sectors, or a mixture of both. It is imperative to understand which business model works best for you.
Service Providing Businesses
In the ecommerce world, setting up service-based businesses is more than often the chosen path. A service-based business consists generally on the experience that the clients get from you. As anything that you offer them is not tangible, it is based on emotions and what the clients take back from it. This requires understanding your clients’ needs to the minutest detail and tailor making their experience from them. A service delivery process is generally shorter than a product based experience as clients do not physically obtain anything from the service provider and only experience the service at a particular location. An example of a service-based business is an online order delivery service. An online cleaning service or a drycleaner service.
Product Based Businesses
Product based businesses depend on tangible goods to be produced or obtained and then delivered to the clients. The quality of these products are judged, and are generally consistent, which means they are generally perceived of the same quality throughout the entire product selection. The clients own these products; they are selected by them and are used by them over a period of time. Whereas the interactions between the buyers and the sellers is always minimal. For instance, an ecommerce store that sells clothes as our initial discussion illustrates, would be shipped the clothes for the customers to wear. Their quality would generally remain constant, and would be less based on the experience and more on the usability.
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