In this era of information technology, everything is changing so fast. As more and more people getting busier than ever before, they prefer to buy things online. According to eMarketer, worldwide E-commerce will rapidly grow to almost $2.5 trillion by 2018. Essentially, it would be a goldmine of opportunities for enterprisers. Now is the perfect time to start an ecommerce business. So let’s understand 8 reasons why you should start an E-commerce business now.
1. Easy to start
You don’t need to be a super tech savvy person to start an e-commerce business. There are a lot of available platforms to choose from that can make your set-up simpler and easier. What just need is strategic planning for selling products that you are passionate about. Since e-commerce is rapidly evolving, the tools that you can use for your store has also been improved. This saves you time and money building an actual website for your business. From designs, branding automation to SEO tools, starting your business is a breeze without even breaking the bank. But you need to have basic knowledge about running an ecommerce business.
2. Cost Effective
Now that you have set-up your business with the right platform of your choice, let’s take a look at how much do you have to spend. Are you curious? Well, you don’t need to spend millions just like the traditional way of starting up a business. You can start even at a fraction of a cost. You normally just need some basic requirements like your laptop or mobile phone and the right tools to start. Marketing is also not a problem since online ads are affordable and cheap. Your time and efforts will be most important and not how much you invest initially.
3. E-commerce is growing faster
There are a lot of opportunities waiting to open in the online marketplace and E-commerce is one of the best industry on the rise. A report coming from eMarketer show that e-commerce is expected to grow to almost $2.5 trillion.
4. Earn as you sleep
Once your ecommerce website is up and running, you earn even when you sleep. You promote your business in various social media platforms, do some SEO and keep working hard until something good happens. Traditional businesses have a problem with this kind of set-up unless you have the perfect location and have already established a brand. In e-commerce, the only thing you need is visibility which you achieve through hard work and dedication.
5. More customers online
Majority of the population are exposed online with the help of mobile phones. Nowadays, the influence of using these handy devices affects the growth of online shoppers to 80%. With the access to mobile applications, purchasing online has never been easier for customers. It is vital for the business owner to integrate mobile-friendly navigation for the customer’s convenience to establish trust and credibility.
If you are a person who loves independence, ecommerce is the best business for you. With the constant rise of E-commerce, you will experience a sense of independence as you become your own boss. Flexibility in your schedule and control with the work is totally up to you. As a business owner, you will enjoy more creative and management liberty.
7. Make Extra income
Owning your own business can be a good source of income. Some who are successful with E-commerce started out with less than a $100 investment and now reaping as much as $100,000 monthly sales. Of course, starting out in this line of business is not that easy. However, with right strategy and patience in learning from others, it is possible to earn more. Having an online business does not guarantee you success but the good thing is the risk of losing is far lesser than the traditional business investment.
8. Get Tax Benefits
Save more while spending less on overhead expenses. Owning an online business can help you with dealing with your taxes. Your tax liability can be reduced because you don’t need to pay more on your utility bills and other expenses. Of course having this tax benefit is a big relief in putting up your online store. But it could also be right to check in with your accountant about business-related tax to be sure of reducing your tax liabilities.
These are some obvious reasons to start an ecommerce business today. When you sell products from multiple suppliers on your ecommerce, you need to maintain punchout catalogs. Make sure you check this GreenWing hosted vs punchout comparison.
Published by Justin Jersey