Three sentences completely solve the difficult problem of starting an e-commerce business: understanding the nature of e-commerce, mastering the business pipeline, and learning the skills of product selection. According to eMarketer, global e-commerce retail sales will reach $25.052 trillion in 2021, indicating that the e-commerce industry has become an unstoppable trend in the global economy.
This article will take you through the core concepts of e-commerce, from the definition to the business pipeline, the success mindset, and the initial product selection tips, which will help you to join the e-commerce industry and seize the global market opportunities.
What is e-commerce? Simply put, e-commerce is an abbreviation for electronic commerce, which is an electronic transaction activity conducted over the Internet. The biggest advantage of e-commerce over traditional physical stores is that it breaks through the limitations of space and time. For example, with the maturity of online trading technology and regulations, e-commerce platforms have become the main channel for most consumers to shop, which continues to attract cross-border entrepreneurs to enter this field.
What are the advantages of e-commerce operation over traditional operation?
- No geographical and time constraints: In the online world, consumers around the world can place orders at any time, unlike physical stores that are bound by business hours and locations.
- Reduced operating costs: I'm telling you, running an e-commerce business can save you money on store rent, warehousing fees, and store personnel, which can significantly reduce your operating costs.
- Global market development: E-commerce can expand your customer base from the periphery to the rest of the world, and the cross-border threshold is much lower than you might think.
- 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? First of all, you need to know these 3 major business channels:
- 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.
The top 4 business tips for e-commerce success, so you can maintain a steady stream of customers:
- Increase Exposure: The biggest problem is how to get more people to see your products. You can increase the visibility of your products through advertisements, search engine optimization, or beautiful product photos and copywriting.
- 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 to Help You Open Markets:
- 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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