3 Reasons you wanted to hear to start an E commerce store in 2019
E Commerce has grown exponentially since its inception. Every year, more and more people are resorting to shopping online rather than going to physical stores.
It’s needless to say why!
Most people prefer to sit at home and browse millions of products online than to go to a specific store physically and browse only a few.
Apart from comfort, e-commerce stores are competitive when it comes to pricing, and most of them offer free shipping. This makes online stores the choice of everyone when it comes to buying products of any kind.
E-Commerce has boomed so much that most of us today not only shop online, we even pay our bills online. Each passing year, the technology associated with e-commerce and ecommerce developers are also expanding at a phenomenal rate.
In recent years, e-commerce has become a trillion dollar industry. In 2017, e-commerce was responsible for over $2.3 trillion in sales. These numbers are expected to grow to $4.5 trillion by 2021.
And so, 2019 is the perfect year to get on the e-commerce bandwagon.
Here are some of the key reasons why you should start an ecommerce store in 2019:
Ecommerce is the inevitable future
With the rapid growth in e-commerce and its technologies, it can be said with great confidence that ecommerce will soon take over the physical or retail commerce market.
In fact, the process has already started!
According to Nasdaq, by 2040, 95% of the purchases will be online in terms of commerce.
Imagine that! 95% of transactions happening only through online stores!
CNBC reported in January 2019 of how retail stores are facing huge losses even during a holiday sale!
The report read:
“Macy’s, J.C. Penney, Nordstrom and Kohl’s each have given Wall Street a glimpse of holiday sales. And even Nordstrom, often declared a top performer in the space, struggled to draw shoppers to its full-price stores during November and December.”
The most popular retailers are struggling to get their merchandise out even during the peak seasons; between Black Friday and Christmas. The same report by CNBC said:
“Some called out a longer-than-anticipated drop-off in traffic between Black Friday and Christmas. And some said they’ve now been left with more inventory than normal and will have to use steeper promotions to get rid of merchandise. That means even more pressure on profits.”
And now, 2019 seems even worse for such retail giants.
Ecommerce, on the other hand, has been growing exactly the way retail business is diminishing.
While 67% of millennials are shopping online, even the Gen Xers contribute to online sales with a staggering 57% in numbers.
“Women love to shop”
Ever heard that gender stereotype? Well, it might be true in the past but with the stores knocking on your internet doors, that stereotype has changed.
Numbers don’t lie. And the numbers say that men are spending 28% more money on online shopping than women!
So, it is obvious how online shopping is becoming a lifestyle for newer generations.
And for these exact reasons, e-commerce is no doubt, the future!
Such statistics suggest that 2019 is the right time to get into the ecommerce business.
Ecommerce stores are easy to set up
Like I mentioned before, the technological advancements in ecommerce industry are gargantuan!
Today, everybody knows and understands how ecommerce stores. Ecommerce companies like Shopify, Prestashop, Magento etc. offer easy setups for your ecommerce stores.
Such ecommerce websites offer you to set up your own online stores with the help of numerous templates already created in their library. It may not get you an elite online store, but it’s great to get you started.
But if you’re not ready to set up your online store by yourself or if you’re looking to create something absolutely stunning then there many ecommerce development companies that do it for you.
So, in a nutshell, they are one way or the other, quick and easy to set up!
You don’t need to quit your current job!
Unlike the brick and mortar businesses, ecommerce stores don’t require so much of time and effort.
You can easily start an ecommerce business as a hobby, a passion or just to add another channel of income for yourself.
Trust me, it’s that easy!
If you cannot manage the maintenance of your new online store because of your current business or job, then you can hire ecommerce developers. The ecommerce industry is colossal and so are its services, which will not cost a hefty investment.
Whether you own a business or you’re working a day job, you can easily start an ecommerce store.
And the best part?
You can earn while you sleep or take care of your job. Once your ecommerce store is established, you can easily start selling to a global audience.
It’s a store that is never closed!
In conclusion, as an aspiring entrepreneur or an experienced businessman, you need to know the aforementioned things before getting into any business.
What’s the future of the business?
How difficult is it to start?
Can I start it as a side business?
Ecommerce has every reason for any businessman to start his/her own venture in this industry. It has the scope, it’s easy to start and can be started on the side till you start generating enough revenue to focus on it full time.
And because of less investment, even a failed attempt may not sting as much as it may in a brick and mortar business.
Do you have any more concerns regarding ecommerce business?
Or any reason that I might’ve missed?
Share your thoughts in the comments below and share your wisdom!