Kicking starts an e-commerce website is surely not a bad idea in today’s internet era. eCommerce has transformed the idea of business operations around the world. In the era of the Internet, users intend to buy the products online from the eCommerce website while sitting at their homes. It also helps businesses getting benefits by optimizing their cost and increase revenue.
The eCommerce industry in India is expected to exceed the United States to become the second-largest eCommerce market in the world by 2034.
In the recent survey report, the online business has been overgrowing around the world compared to traditional businesses. The eCommerce business has been changing drastically, that even small businesses have started selling the products online as a mutual effort.
In order to start an eCommerce company, it is necessary to create an eCommerce website. To all those people who have never done this before, it can look like a challenging task. Luckily, launching an eCommerce site isn’t that challenging.
Some might have experience in creating websites, but the rest don’t. The challenge lies in all the surprises you may experience when you are starting an eCommerce website. Today’s Entrepreneurs have tons of information to figure out what’s best for their online presence.
All thanks to the eCommerce platforms such as WordPress, Magento, and Shopify to make things easy for business people to set up a website that is simple to operate and get their business online. It is a boon to the business people as it is cost-effective than the traditional method.
Industry Scope for eCommerce website
The eCommerce industry has been on a higher growth year by year. Global active internet users are increased to 4.57 billion as of April 2020.
As per the study, 25 percent of the world’s population buying products and services online, including eCommerce websites. And it is further expected to increase to a massive 2.14 billion digital buyers in 2021.
It is a positive sign of massive growth for the eCommerce business opportunities globally.
Significant growth in the industry has been set up by the internet and smartphone entrance, smartphone users are expected to reach 859 million, and the eCommerce sector expected to grow 1,200 percent by 2026. The day by day scope of eCommerce business is turning out to be more prominent and successful.
Market size and growth for eCommerce business
The market size of eCommerce globally is expected to reach $3.535 trillion by the year start off 2020. This makes an increase of 20.7 percent of the previous year as the global eCommerce market will continue to expand year by year accordingly. As the worldwide eCommerce market grows, China holds the market for more than half of all eCommerce sales worldwide.
Not only China held a large of global eCommerce sales, but also the United States eCommerce market size in 2019 totaled $586.92 billion – less than a third of that of China’s.
eCommerce and internet companies in India also received more than US$ 7 billion in private equity and venture capital in 2018, which indicates investors are eyeing on potential growth in the eCommerce industry. Online eCommerce sales in India are expected to grow by 31% to reach US$ 32.70 billion in 2018, led by Amazon India, Flipkart, and Paytm Mall.
This is quite an unusual action for China, considering that it only surpassed the US as the world’s largest eCommerce market as recently in the year 2013. This makes it essential for eCommerce business owners to focus their works.
How to start an eCommerce website in 6 Simple Steps?
#1 Choose a domain name for the eCommerce website.
Before starting an eCommerce website, you need to buy a domain name for your website. Domain name plays a vital role to make your eCommerce website popular. Visitors who want to visit the site will come through your selected domain name. So it will be the face of your website.
The domain name will be a path that drives buyers to your online shop.
Choose the domain name wisely. Attractive and unique. You can search for a domain name for free from GoDaddy or Namecheap.
#2 Get a good hosting server for the eCommerce website.
The second most essential step is choosing the appropriate capacity hosting to handle the eCommerce website traffic.
Hosting server stores all your product images, content, and manage online orders placed and many more.
In simple words, the Hosting server is an online space capacity that can cater to the number of website visitors smoothly at a time. Lower quality hosting servers may crash your eCommerce website and ruin your customer’s experience.
As good as the hosting server, better will be the customer experience.
So before buying a hosting server, You have to forecast how many daily visitors you are expecting on your website and wisely opt good quality of hosting server.
We recommend siteground hosting service to obtain lightening website speed.
#3 Develop eCommerce Website
On obtaining a domain name and hosting server, the only thing that is left is the development of your dream eCommerce website.
There are several open-source platforms like Joomla, Shopify, Magento, Wix, WordPress, etc., to build an eCommerce website yourself.
If you are a beginner and do not carry any technical skills, then WordPress open-source CMS platforms can be simple to manage. It is one of the best hosting platforms for creating an easy and lightweight e-commerce website. You can install WooCommerce user-friendly plugin that makes everything look so simple for the beginners.
If you need a customized eCommerce website that is adaptable to your unique business process or wants to develop a highly automated structure, then we recommend you hire some website developer agency.
#4 Secure payment method on eCommerce Website
We know all you are doing this for money. So you must think wisely how your eCommerce site accepts payments for the orders. You need to understand your business and customer behavior and accordingly integrate the payment method to your eCommerce website.
Some payment method is as follows
- Cash on Delivery aka COD
- Payment Gateway Integration (to collect payment only via net banking, UPI, cards, wallets, etc.)
- Payment Wallet (Such as Paytm, PhonePe, Google Pay, Amazon Pay, etc.)
- Paypal – useful for collecting international payments
You can signup for payment gateway from providers in the market and enable a secure payment gateway to your eCommerce website.
Before applying payment gateway must ensure the below
- Install SSL certificate on the website.
- Terms and Refund Policy available on the website.
- Availability of legal documents for registration.
#5 List Products on eCommerce Website
Now its time to list all your saleable products. Do not forget to mention below while listing products on the eCommerce website.
- Product Images
- Product Description
- Product Variable such as colors, models, etc
- Product MRP and Offered Prices
- Available Stock
- Delivery Time
#6 Start the website with a big bang marketing strategy
Now your shop (eCommerce website) is ready for the grand opening. To be successful while starting with an eCommerce website, start with a solid promotion plan.
For online advertisement and marketing, you need to understand your customers for the product such as where they spend the time on the Internet, their age, their parental status, hobbies, etc
Best Online Advertisement Platform for different products
- Fashion & Style – Instagram
- Personal products – Facebook
- Business-related products – Linkedin
- Searchable products – Google Ads
- Brand awareness – Twitter
- A solution to the problem – Quora Ads
- Other evergreen platforms for ads are YouTube, News Websites,
- Can do email marketing, SMS marketing, etc
Profitability Hope to start an eCommerce business
One thing about being an eCommerce seller can be a lot of fun. Testing new products and move in the new directions without any external verification.
Being an eCommerce seller with so much competition make products successful online is a tedious task. To safeguard the profitability, you must follow some steps.
- Safeguard Customer Loyalty: Customers who have purchased from you are more likely to bring new customers to your store. Also, they are going to spend more money. This is why you should make your customers happy and drag there hope towards you by offering suitable discounts, also ask their feedback that will help you make changes to your store.
- Sell Products over Multiple Channel: Everyone knows the power of social media. For instance, a person sees a product listing on Facebook, and he/she orders it directly through a Facebook store without visiting the seller’s website. Getting new orders from a fresh channel is an order that might never have occurred otherwise.
- Reduce Unnecessary Expenses: Sellers have to reduce their expenses, but often reducing is difficult because sellers have to spend money on particular things. This is why you have to record regular expenses and figure out where your money goes.
- Enhance your customer service: At first, we already resembled keeping loyal customers happy, but you should make certain changes to manage your customers. Especially during the order and stock updates, customer service is crucial for selling online, and provide 24/7 customer service.
Initial Investment to Start eCommerce Business
# Website, Domain & Server
eCommerce business is nothing without a website. You need to buy a domain, hosting server, and develop an eCommerce website.
# Computer equipment
- Computers to manage orders
- Server- Your business needs the network to support your database, email applications, and other files.
- Internet Router– Router keeps your workspace connected to the Internet wirelessly. A strong internet connection can assure you speed connectivity to all linked systems and mobile devices.
- Printer- It will help you print all the company documents fast, especially online orders invoices. The best printer at an affordable price is Canon or HP.
Without products can’t sell online. The amount you invest here will differ depending on whether you are dropshipping and how much inventory you want to start with. Holding the initial stage inventory can cost you around 0 – 500$.
Delivering products to customers on time is a big challenge for online stores. Since you are a startup, you can use courier facilities for delivering the product to customers, by this you can reduce the logistic expenditure. Also, these courier companies can provide your products on time.
# Office rent for business
As we are a startup, it is better to start running a home-based business to cutoff office rent. Cost savings, zero commute time, and the capability to work by yourself without a team can be interesting.
Most sellers know that customers buy a brand, not a product. In the very crowded space of eCommerce, branding helps you to differentiate the business. Create a Logo that everyone recognizes, with unique colors and typography. Run a brand awareness campaign. Create some celebrity style videos and make it viral.
After having the budget for all of this, you can proudly launch your eCommerce store.
Hope you like our article. We understand executing a business plan not a one day process. You might need a reference to this article from time to time, so bookmark before it lost in a huge web world.
In case you need an answer to a specific query related to the eCommerce website business, you may consult our professional.