Anyone who wants to start an e-commerce business in Taiwan, here's a trick for you: you don't have to spend a lot of money or worry about a high threshold, as long as you master the right e-commerce business mindset, you can successfully enter the global market. According to eMarketer, global e-commerce retail sales will reach 25.052 trillion dollars in 2021, and the e-commerce industry has become an unstoppable trend in the global economy.
In this article, we will bring you a quick understanding of the core concepts of e-commerce, from the basic definition to the business pipeline, the success of the heart, as well as the initial selection of skills to help you successfully join the e-commerce ranks, and successfully seize the global market business opportunities.
What is E-commerce? Why does it attract so many people to start their own business? E-commerce is an abbreviation for electronic commerce, which is an electronic transaction activity conducted over the Internet. Compared with traditional physical stores, e-commerce greatly reduces the limitations of distance and space through the digitalization of services. With the growing maturity of online transaction technology and related regulations, e-commerce platforms have now become the main shopping channel for most consumers, and the business opportunities they bring have continued to attract entrepreneurs.
Compared with traditional operations, e-commerce has the following 4 major advantages:
- No geographical and time constraints: In the online world, consumers around the globe can place orders 24 hours a day, unlike physical stores that are bound by business hours and locations.
- Reduced operating costs: E-commerce can significantly reduce operating costs by saving on expenses such as store rent, storage fees and store personnel.
- Global market development: E-commerce operations can expand the customer base from the periphery to the rest of the world, and the cross-border threshold is lower than expected.
- Optimize sales with data: Through the e-commerce backend, sales data can be accurately recorded to optimize the sales model and increase the conversion rate.
Want to become an e-commerce seller? Learn about these 3 major business channels first:
- Self-operated website: from website setup to maintenance, all by yourself, the highest flexibility but also the highest cost.
- Commissioned Website: Purchase vendor services to create a branded website and have the vendor assist in managing it.
- Third-party e-commerce platforms: Save the effort and cost of building an official website, and sell goods directly on the shelves, such as the Amazon Global Store.
What I'm about to say may change your perception. Successful e-commerce business owners have mastered these 4 key techniques:
- Increase exposure: In the early stages of business, it is important to get your products seen by more people. Your own website can be promoted through advertisements and search engine optimization; on third-party platforms, you can take photos of your products and write attractive copy.
- Increase conversion rate: Providing consumers with a smooth purchase process is the key. Self-operated websites should ensure a friendly UI/UX design; third-party platforms should describe the products with appealing terms to trigger the desire to buy.
- Enhancement of customer unit price: If you want to run a business for a long time, you have to make sure that the profit of your products is enough to support your operation. Promotional programs such as free shipping and buy 3 get 1 free can be used to increase the unit price.
- CRM Management: According to Plato's Law, 80% sales come from 20% customers. What may hinder your business growth is neglecting these core customers. Do a good job of customer relationship management and cultivate loyal customers through good after-sales service and regular dissemination of new product information.
3 Key Tips for E-commerce Selection to Help You Stand Out from the Competition:
- Choosing products that interest you: Selling products related to your specialty or interest will enable you to better understand the characteristics of the product and the needs of consumers.
- Small quantities and small samples for accurate quality control: Focusing on specific product categories in the early stages helps build brand image and reduces stocking costs.
- Considering the trend of the times: Keeping abreast of market trends and selecting products that are in line with them to ensure that they are accepted by the general public.
If you want to join the e-commerce industry and take advantage of the global business opportunities, Amazon Amazon Global Store can help you! With hundreds of millions of active users and a presence in 20 countries, we are one of the most popular e-commerce companies in the world.Cross-border e-commerce platformsAmazon has opened 14 overseas sites and more than 400 operation centers to Taiwan sellers. Amazon has opened 14 overseas sites and over 400 operation centers to Taiwanese sellers, and provides a wealth of free e-commerce teaching resources to help you take your first steps in e-commerce!
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# Cross-border E-commerce # Amazon Global Store # Taiwan Sellers # E-commerce Entrepreneurs # Cross-border Exporters # International E-commerce # North America # Europe
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