Top 5 Critical Factors to Know Before Starting An eCommerce Business

Since the outbreak of COVID-19, we all have witnessed a boom in the eCommerce business.

However, what we learned from this is that we should not use the eCommerce market due to some necessitation, rather we should adopt it completely now.

Why?

Because online shopping saves you a lot of your precious time, energy, and gives you the comfort of ordering all the groceries right from your bedroom, at your fingertips.

So, considering the increasing demand for eCommerce shopping, this is the golden time for anyone to start their own eCommerce business.

Are you also looking forward to starting your eCommerce store?

Well, that’s a good idea!

However, before heading to convert your idea into reality, you should be aware of the basics of an eCommerce startup.

Below, you will find 5 things you kneed to know before starting your eCommerce Business.

Have a look!

1. Define Your Product

First of all, you need to understand your product and define it completely.

What you are going to sell, has enough demand to make you a profit?

You should execute comprehensive product research before starting to launch it in your store.

If your product is a new and unique product for the market, make sure to get it registered as your intellectual property before making it live on the internet.

However, if you tend to sell a product that is already available widely. Then, you will have to figure out how many sellers out there are selling the same product. If the market is highly saturated, then you will need to develop a Unique Selling Point for your product.

2. Know Your Customer

Along with defining your product, knowing your customer is also much important.

In the eCommerce Market, many people lack at this point. More often, people tend to focus 100% on their product, while neglecting their consumers.

You need to define who are your customers, what they need, and why they need it.

You can simply figure this out with the help of several questionnaire-based surveys along with the help of available data on the internet.

3. Packaging in the eCommerce is A Little Bit Different

You might be attracted to some colorful, beautiful, and nice packaging in the physical stores. And that is true in that case.

But the packaging philosophy is completely different in the eCommerce market.

In the universe of eCommerce, we need to focus more on the shipping friendliness of the packaging rather than its beauty.

However, you can also add a little touch of nice art to your packages for the sake of customer affection.

Some of the well-known eCommerce stores have complete guidelines on eCommerce Packaging. Referring to those guidelines may help you a lot in your package designing process.

4. Build Your Strategy

Building your marketing strategy will benefit you a lot in the future of your business.

The market strategy building includes, whether you will be selling your product online only or offline as well? 

Now, if you plan to sell it online exclusively then, will you sell it through your website or an eCommerce market?

Which retailer and supplier are the best for your product?

For example, Amazon does not focus much on selling handmade or custom items. In contrast, Etsy is the largest marketplace for handmade crafts.

There are a lot of options available. You can sell your products through your stores on eCommerce websites, you can sell them directly from your website, and you can also sell your items through social media.

No matter which strategy you choose, you have to make it in black and white before initiating the startup.

5. Know the Basics of Shipping Your Product

One of the major challenges you could face in the eCommerce business is the shipment of your product.

However, problems like these can be solved by answering some simple questions yourself.

Below, you will find some of the very important questions related to product shipment, you should ask yourself before starting your eCommerce business.

• Are you going to ship your items yourself or you will hire a distributor to manage your shipping?

• If you will sell your items directly to your customers, using your own website, or as an independent seller on an eCommerce site, will you deliver directly to the consumer and manage the shipping yourself?

• Will you hire a distributor or drop shipper to fulfill your orders?

• Do you plan to purchase the Fulfilled By Amazon (FBA) service for the fulfillment of your items?

This list of questions can go as far as you want. However, the above-mentioned questions are the most important out of all.

Conclusion

Hopefully, after reading the whole blog post, you have learned what are the basics and what are the 5 things you need to know before starting an eCommerce store.

If you still have any kind of confusion, feel free to contact us anytime regarding your queries.

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