The online retail business – with its global revenues more than $2 trillion – is dominated by giants like Amazon.com and eBay. Carving out your share of the lucrative eCommerce pie is going to take lots of investment – if not in money, at least in time.
Some ways you can go about building a successful eCommerce business with a small investment:
Create your brand
Your brand will be the core of your business. The name you come up with should be memorable, easy to pronounce and also related to your niche. Pick a .com domain name that is related to the brand – and ensure it is short.
Find the best eCommerce platform
The eCommerce CMS you use will be the base of your website. Pick one that has capabilities your unique business needs. Small businesses, for example, should be okay with WooCommerce; medium-sized businesses would do well with Shopify; medium to large ones – or B2B ones – can use Magento.
Research your target audience
Many first-time entrepreneurs make the mistake of designing a store that they would personally want to navigate. The goal is, however, to build an online store that your audience will want to browse. Research your target audience and create a website catering to their needs.
Make your website easy-to-navigate
Nobody has the patience to visit a website that takes over 3-4 seconds to load. Your site must be fast as well as easy-to-browse. Visitors must be able to find what they are looking for very quickly. Make the search intuitive and also use a minimalist, grid-based layout. The payment process must be optimized for mobile devices.
Shipping and returns
If you don’t offer free shipping, you are going to lose your customers quickly. The same goes for the return policy. Successful online businesses offer both free shipping and a clear return policy (usually 30 days) to gain customer trust.
You can’t compromise on the quality of your online store, though – it has to be fast-loading as well as easy to navigate. If you don’t have the experience or knowledge to build an optimized site, you can team up with an eCommerce development team in Singapore.