Around 80 percent of internet users have made an online purchase at least once. So, it’s not surprising that a lot of people are thinking about selling stuff on the internet. Plus, who wouldn’t want to earn extra income each month, right?
Online retail sales are increasing, especially with the present circumstance of the world. But what does this mean, exactly? Simple. It means more and more people are buying stuff through online retailers. Instead of driving to a physical store. If you’re looking for online business ideas, here’s one—why not start an eCommerce website?
This might sound like a difficult undertaking, but the truth is, it’s not as difficult as you think.
Setting Up An eCommerce Store
Choose your product.
An eCommerce store is one of the most lucrative online business ideas. The first step is choosing the right product to sell. Before you finalize a product, you have to consider the following—price, availability, and shipping size.
How much is the product?
If you price your product too low, you might have a hard time reaching a positive return-of-investment. However, if you price it too high, potential customers might have second thoughts purchasing.
How easy is it to procure the product?
Obviously, it is best to choose a product that is not available locally. After all, if it is widely accessible, customers may not bother purchasing online.
How big (or small) is the product?
The bigger the product, the higher its shipping cost. Some sellers would choose to include shipping costs in the price of the product. However, this will raise the price, and customers may turn away from something expensive.
Set up your website.
Your website will act as your physical store, online. Since it’s your store, you can design it in any way you want. In setting up a website, you will need a domain and a web hosting service. On the other hand, you can also opt to just sell through an eCommerce platform.
After finalizing your product, and setting up your store, the last thing you have to do is to start selling.