Module 1 Basics on how to run a successful ecommerce business
MODULE ONE
WHAT IS AN E-COMMERCE BUSINESS?
E-commerce is one way, among others, of buying and selling things on a retail basis. Many businesses use e-commerce as a distribution channel as part of a bigger strategy that includes physical stores and other revenue streams. Some businesses sell things online. In any case, e-commerce allows new, small and large companies to sell their products on a large scale and reach customers worldwide.
Electronic commerce or ecommerce is the Internet trade of goods and services. It’s the bustling downtown or physical store translated into zeros and ones on the Internet superhighway. This year, an estimated 2.14 billion people will buy goods and services online, and the number of Prime members shopping in Amazon stores now exceeds 150 million.
WHAT IS AN E-COMMERCE WEBSITE?
Your online digital storefront is an e-commerce website. It helps the buyer and seller complete their transaction. It is the virtual space where you display your products, and your virtual customers make their selections. Your website acts as your online business channel’s product shelves, sales staff, and cash register.
Businesses can create a branded store experience in a store like Amazon, create their commerce site on a specific domain, or do all of these for a multi-channel approach.
Lesson One
THE BASICS OF E-COMMERCE
Setting up an online sales company and starting e-commerce is one of the easiest ways to start a business today. Indeed, the sector of commerce on the Internet has been growing exponentially for several years now.
Training, products, services… now, almost everything can be sold on the net. But then, how to start creating your e-commerce site and quickly generate sales? Discover our practical advice to create your online store and develop your business on the web!
While there are notable differences between starting an e-commerce business and starting a brick-and-mortar business, there are also several similarities. You will need to take many planning and legal steps following the same process (more or less) as for any other business.
Choose your product or service to sell
You may have the best store in the world, but if you don’t sell the right product, you won’t make a sale. So before even thinking about the design of your website, you must find the right idea that will make your project take off.
Before even launching your e-commerce site, you must already bet on the right product that will sell easily and allow you to generate profits quickly. A good product to sell online is a product:
- Profitable: it generates a comfortable margin and maximum profits.
- Quick to ship: Being able to prepare many orders every day.
- Light and small in size: to reduce shipping and packaging costs.
- Timeless: it can be sold at any time of the year.
- Simple: it must meet simple needs, and its usefulness must be immediately understandable.
- Trend: unearth the idea or the product that everyone will tear off.
- Robust: the less after-sales service, your online store will be better.
- Attractive: it must arouse the interest of buyers at first sight.
- Unique: your product should only be available at home and not elsewhere.
- Niche: no need to go mainstream; find a niche product or offer and get started!
EVALUATE YOUR PRODUCT IDEA BEFORE SELLING IT ONLINE
You have finally managed to unearth the rare pearl(s) on the web, that is, products that are sure to be a hit in your shop. So now you will have to evaluate this idea with your future buyers. Do not hesitate to test your products in your personal and professional environment or with test customers.
You must then assess the true potential of your offer to be sure that you have chosen the right product.
Before even launching your e-commerce site, you must already bet on the right product that will sell easily and allow you to generate profits quickly. A good product to sell online is a product:
- Profitable: it generates a comfortable margin and maximum profits.
- Quick to ship: Being able to prepare many orders every day.
- Light and small in size: to reduce shipping and packaging costs.
- Timeless: it can be sold at any time of the year.
- Simple: it must meet simple needs, and its usefulness must be immediately understandable.
- Trend: unearth the idea or the product that everyone will tear off.
- Robust: the less after-sales service, your online store will be better.
- Attractive: it must arouse the interest of buyers at first sight.
- Unique: your product should only be available at home and not elsewhere.
- Niche: no need to go mainstream; find a niche product or offer and get started!
