Draw on experience for successful ecommerce
Does ecommerce offer retailers more opportunities than the high street in 2010?
Use own experience for successful ecommerce
Monday, August 16 2010
Anyone setting up ecommerce operations should draw on their own experience if they are to be successful, it has been identified. Sylvia Constantine, IBA Start-up Business Adviser of the Year 2005, emphasised that now is a great time to set up a company, especially as the country is emerging from a recession.
“Think about who will buy your product or service, and why,” she recommended. Ms Constantine highlighted that everyone has skills they can draw on when starting up a business, but there will inevitably be certain gaps in knowledge. These can be filled in by government agencies, or, in terms of web design, specialist companies that can offer their expertise.
However, as was recently pointed out by editor of Internet Retailer Magazine Don Davis, not all items are easy to sell online. “In general, consumers have been most comfortable buying items they don’t feel a need to touch and feel or that are very complex or expensive,” the expert explains. It may therefore not be as easy to be successful at ecommerce for some people as it is others, so testing out the market may be crucial.
In order to set a site apart from its competitors, it may need to display video content as well as images to give people confidence in what they are buying, Mr Davis said. He pointed out, however, that “those complex and highly considered items are still a challenge for retailers to sell online”.
The second yearly PayPal Online Retail Report found that online retail spending is expected to grow by over 36 per cent in the next 18 months, compared to just one per cent for in-store sales. It is also anticipated that the internet retail sector will grow by £8 billion from its current value to be worth £30.6 billion by the end of 2012.
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