While retail sales in brick and mortar stores still represent the largest portion of the market, statistics indicate that e-commerce is growing faster than previously predicted. These very same studies indicate that within the next few decades, online sales may hold the largest portion of the market. Why? That’s simple really. The answer is that a growing number of consumers are searching for products online from mobile devices and it is just a simple process to buy online. If you are looking to start an e-commerce business, here is some of what you should know.
Domain Names Are More Important than You Think
While many established retailers choose to use the name of their store as their domain name, that works for them because they have already established their brand. They may be looking to grow their business online and so they have begun selling online, but the point is, they typically already have a customer base to keep them going while they seek to broaden their reach online.
But, what happens when a startup wants a domain name that is already taken? How can you buy a domain name that isn’t available? Sometimes it is possible to buy domain names that are taken. Check out how to go about buying the name you want on hosting. Some names might not be for sale at any cost, but for a price, almost anything can be bought.
Building a Website and Hosting
One thing which may be of interest to you is the fact that many web hosting companies offer WordPress hosting that enables you to actually build your own site. Once you’ve chosen the package you want, you can use the server’s software to build a site using the WordPress CMS (Content Management System).
With thousands of free e-commerce templates, some which are very moderately priced, you can do everything from your server’s dashboard. Modify the template to your online store’s needs and before you know it you will be online and competing in the digital realm.
A Few Statistics to Consider
Here is what we know so far. As of the latest survey by Statista detailing online shopping in that year, there were 1.61 billion people around the globe who shopped online. At that time, online retail sales claimed 12.1 percent of retail sales in Asia while online retailers captured only eight percent of the market in the United States. In 2017, that figure jumped to nine percent of the market and it is projected to reach at least 12.4 percent within the next three years.
However, after 2021, e-commerce is expected to grow exponentially. Some projections forecast that within just a few decades, online retail sales will finally surpass local sales in retail shops. The one exception will probably be groceries, which consumers will still want to hand pick in person in local stores. The future looks extremely good for e-commerce startups. This is the time to launch new sites because of the growing trend towards shopping online. Just be aware of the importance of launching a web store that is user-friendly, reliable, and is hosted on a site that continually updates SSL as needed. E-commerce is on the rise and you can be a part of the change we all know is coming. E-commerce is here to stay.