You would never have guessed that the global e-commerce retail sales in 2021 has exceeded 25.052 trillion dollars! Behind this figure, there are countless opportunities for Taiwan's cross-border sellers to succeed. What is e-commerce? Why are so many people attracted to it? Behind this figure is the fact that the "e-commerce industry" has become an unstoppable wave in the global economy.
Today, we're going to demystify the nature of e-commerce, from e-commerce definitions, business pipelines to success tips, and most importantly, initial product selection techniques. Whether you're a brand owner or an e-commerce entrepreneur, this guide will definitely help you gain a foothold in the cross-border e-commerce wave.
E-commerce is actually the abbreviation for electronic commerce, which is an electronic trading activity conducted through the Internet. The biggest advantage of e-commerce over traditional physical stores is that it breaks through the limitations of distance and space. What's more, with the maturity of technology and regulations, e-commerce has become the preferred shopping channel for most people, and the business opportunities it brings continue to attract entrepreneurs.
There are 4 major advantages of running an e-commerce business over a traditional operation:
- No geographical and time constraints: In the online world, anyone can place an order 24 hours a day, unlike physical stores that are bound by time and space.
- Reduced Operating Costs: Did you know? An e-commerce business can significantly reduce operating costs by saving money on store rent, warehousing fees and store personnel.
- Global market development: E-commerce operations can expand your customer base from your neighborhood to the rest of the world, and cross-border thresholds are much lower than you might think.
- Use data to optimize sales: Through the e-commerce backend, you can accurately record sales data to optimize your sales model and increase conversion rates.
Want to become an e-commerce business? Recognize these 3 major business channels first:
- Self-operated website: from 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 platform: to save the effort and cost of building an official website, directly on the shelves of the goods for sale, Amazon Global Store is a typical representative.
The most eye-opening thing is that successful e-commerce operators have mastered these 4 major methods:
- Increase exposure: Increase product visibility through advertising, SEO optimization, or beautiful product photos and copy.
- Increase the conversion rate: Ensure the purchase process is smooth and the product page description is attractive to trigger the desire to buy.
- Increase unit price: Use promotional programs such as free shipping on full price and buy 3 get 1 free to increase sales.
- CRM Management: According to Plato's Law, 80% sales come from 20% customers, so good customer relationship management is crucial.
3 Key Tips for Ecommerce Selection:
- 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 seize the global business opportunities, Amazon Amazon Global Storefront Taiwan can help you! With hundreds of millions of active users and a presence in 20 countries, we're 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 Seller # E-commerce Entrepreneurship # Cross-border Exporter # Global Sales # E-commerce Platform # Digital Marketing
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