Now’s the Time to Consider E-Commerce

Is this you? You have a website. You have goods and/or services to offer. But you still haven’t started selling them ON your site. You may think; “It’s too complicated to set up this process and keep track of transactions.”

Well, we think it’s a new world – one in which business in increasingly done online. There is opportunity, and it’s time for you to get into the E-Commerce game. There are many benefits, such as being able to reach new audiences, around the world. With no geographical limitations, you can sell every day, around the clock.

E-Commerce is the online version of a brick-and-mortar store, also known as a merchandise storefront. In the U.S., online shopping will generate an estimated $4 Trillion in 2020! More than 69% of the country’s population has made an online purchase, and 25% of Americans shop online at least once a month.

E-Commerce works for selling both goods (books, electronics, and computer equipment are the most popular) and services (coaching, consulting, editing, etc.). Keep this in mind if you don’t think E-Commerce is right for you because you’re not providing something tangible.

Will E-Commerce Work For Your Business?

Is E-Commerce really for you? Here are some questions to determine if you’re prepared.

- Do you sell to Millennials? The 18-34 year old age group makes the most online purchases, averaging $2,000 per person per year. Generation X and Boomers are also strong markets.

- Do you have active social media accounts? Online merchants that are active on social media generate 32% more sales. Naturally, you have a built-in audience on those platforms to promote what you’re selling. Facebook and Instagram are great for B2C selling, and LinkedIn works for B2B.

- Are you willing to put an ad budget behind it? You’ll need to market your E-Commerce site to build and retain business. Cart abandonment is a common occurrence (almost 70% of transactions are abandoned before the final sale is made), so a re-targeting campaign will be important to draw those people back.

- Is your website mobile friendly? Online purchases are increasingly happening on mobile devices. The trend even has its own name: M-Commerce (Mobile eCommerce). By the end of 2020, more than 42% of all U.S. retail sales will take place via mobile.

What Are the Steps to Set Up E-Commerce?

There is a process to setting up your website for E-Commerce, beginning with identifying what it is that you’re actually going to sell. From there, the check list includes page customization, interface optimization, settings and features, asset development, and more.

If you’re ready to take a closer look at the possible ROI, contact us for a complimentary consultation.

By Traci, Marketing Manager and Content Strategist | May 26, 2020

Sources:

https://vwo.com/blog/ecommerce-statistics/

https://optinmonster.com/online-shopping-statistics/

https://hostingtribunal.com/blog/ecommerce-statistics/#gref

https://www.spaceshopcommerce.com/blog/top-ecommerce-stats-for-2020