80% people who get into e-commerce make the wrong first step! They don't understand the core concepts of e-commerce and how to run a business. According to eMarketer, global e-commerce retail sales will exceed $25.052 trillion in 2021, and the e-commerce industry has become an unstoppable wave in the global economy.
In this article, we will explore the nature of e-commerce, from the definition of e-commerce to the business pipeline, the success of the heart, and the initial selection of products 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 actually the abbreviation for electronic commerce, which is a kind of electronic trading activities conducted on the Internet. The biggest advantage of e-commerce over traditional physical stores is that it breaks the limitations of distance and space. Did you know? With the growing maturity of online trading technology and related regulations, e-commerce platforms have become the preferred shopping channel for most consumers, and the business opportunities brought about by this have continued to attract entrepreneurs to join.
Compared with traditional operations, e-commerce has the following 4 major advantages:
- No geographical and time constraints: In the far-flung world of the Internet, consumers around the world can place orders at any time, unlike physical stores that are bound by time and space.
- Reduced operating costs: E-commerce can significantly reduce operating costs by saving 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.
- 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.
The most eye-opening thing is that successful e-commerce operators have mastered these 4 major methods:
- 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: Not all customers contribute equally. According to Plato's Law, 80% sales come from 20% customers. We will do a good job of customer relationship management and cultivate loyal customers through good after-sales service and regular promotion of new product information.
3 Key Tips for Ecommerce Selection to Help You Stand Out in the Marketplace
- Choose products you're interested in: Selling products related to your own specialty or interests gives you a better grasp of product characteristics and consumer needs. For example, if you don't know anything about coffee, it's hard to choose a coffee product that meets the public's preferences or to write copy that appeals to the public.
- 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.
- Consider the trends of the times: Keep track of the market and choose products that are in line with the trends to ensure that they are accepted by the public. You can pay more attention to the Internet, news reports, or visit department stores and specialty stores to grasp the latest trends.
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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