In 2019, the U.S. ecommerce market brought in more than $365 billion in revenue. By 2024, the revenue is projected to reach close to $600 billion!
Nowadays, sellers have tons of options to reach out to their potential customers. With the ecommerce market growing exponentially, it is the perfect time for entrepreneurs to tap the potential and start selling products online.
Interested to own an online business? Here are the five most popular options you can begin with.
One of the most common options available to entrepreneurs is to build an ecommerce store from scratch. While you need to hire experts to get all the pieces together, this option will give you the maximum control over your ecommerce business.
To build an ecommerce store from scratch you need to invest in:
- Website hosting
- Choose the website design
- Add product
- Fill the website with content
To get the website up and running in the shortest time possible, you can hire an experienced website design and development company.
Once the website is completed, you will have control of every aspect. Moreover, you can add new products, delete existing products, change the content, and work around with the back end functionality.
Hosted Ecommerce Platforms
Another great option available for entrepreneurs is to choose a hosted ecommerce platform. These platforms are different from dedicated ecommerce sited as you are not required to build a website from scratch. A majority of the work has been done for you.
However, one of the downsides of using a hosted ecommerce platform is that you don’t have much control over the details. Platforms like Big Cartel, Shopify, and BigCommerce allow entrepreneurs to quickly set up their online business from preset templates and themes. Additionally, setting up your ecommerce website on a hosted platform is less expensive than building your online store from scratch.
If you are still on a fence and are confused about building your own ecommerce website from scratch or using a hosted platform, ecommerce add-ons give you an easy alternative.
With ecommerce add-ons, you can create your own website while using plug-ins to facilitate things such as buy buttons or payments.
Have you heard about Amazon, Esty, eBay? These are marketplace websites where small businesses can sell their products alongside other sellers. These marketplace websites work similarly to hosted ecommerce platforms on the back end, but have fewer options for customizations.
Also, businesses need to pay a small fee or a percentage of each sale to the marketplace. However, this is one of the easiest and fastest ways to set up your online store.
While eBay gets nearly 27 million monthly unique users, Esty gets nearly 16 million, Amazon leads the way with 59 million monthly unique visitors.
The popularity of social media has increased many folds in the past few years. About 72 percent of U.S adults are using at least one social media platform on a daily basis. This makes it easy for businesses to meet new customers who are already spending time on social media.
However, different social media networks have different selling options. For instance, on Facebook, you can set up storefronts right on the business page. On Instagram, you can create shoppable posts that make it easy for customers to shop.
Whichever option you choose, SBA50K help entrepreneurs realize their dream of owning a business.
Did you know, Millions of Dollars are specifically put aside by the government to help small businesses flourish? Take advantage before it’s too late. Close a $50K loan in 30 days even with a poor credit score.
SBA50K.com helps you connect with an intermediary lender in your neighbor or local area. Moreover, we help increase your chances of Microloan approval by 62%.
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