The world wide web has had a spectacular effect on many aspects of our everyday lives. From the way we interact with each other through social networking platforms such as Facebook, Instagram, or WhatsApp, to the way we buy goods and services via eCommerce platforms—we no longer have to leave the comfort of our homes to find what we need and desire. And exactly like the way customers can practically search for whatever it is that they need online, entrepreneurs and retailers may also sell products within this virtual arena. Both would rely on a competent shipping logistics company, or companies to compare rates and essentially keep the supply chain moving.
In fact, by 2024, eCommerce earnings are projected to grow to 4.9 billion globally—that is nearly double the revenues produced in 2018. Studies reveal the eCommerce marketplace is undergoing rapid expansion.
If you’re looking for eCommerce options for your business, there are a couple of considerations you need to take into account before you begin selling your products on the internet. Here’s an eCommerce beginner’s checklist to help lead you into a successful launching.
Also, check out this E-commerce course Singapore overview.
Get The Ideal Platform for Your Objectives
There are many eCommerce platforms and plugins on the market to host your shop. However, based upon your company objectives, there are paths which are better tailored to your business’ requirements. For example, do you have a shipping solution? Have you got a marketing strategy planned out? If your answers to those questions were either a “no” or an “I haven’t thought about it,” you should search for pre-built eCommerce store services such as Squarespace or even BigCommerce.
Are you able to design your own site or have the funds available to employ a specialist who will? In that case, there are eCommerce platforms like WooCommerce and Shopify that allow you to customize your shops using knowledge of coding and web design.
Securing Payment Processing Solutions
When you’ve laid out which eCommerce platform is ideal for your store, now you need to prepare a process to collect your shop’s earnings. Every company requires a merchant account that processes and collects the earnings made from credit card transactions. In reality, credit cards are undoubtedly the most popular payment system used by internet shoppers.
Yet, payment processors are extremely selective on which companies they manage. There are particular businesses and billing models that aggregate payment processors won’t offer processing solutions for or will close down a company’s merchant account entirely if they discover it’s “high risk.”
Just because you might suspect your company is high risk, does not mean that you should not start the business up. You have to search for payment processing options that can offer you a high-risk merchant account and merchant solutions.
Research Is the Secret to Success
If you’re looking for easy answers for your first couple of years of your launch, start by looking for an end-to-end eCommerce platform solutions such as Wix or even Squarespace to deal with the minute details of keeping an internet shop running. But before that, plan on acquiring a merchant account that will process payments suited to your own business model. Take some time prior to going live, careful preparation is vital for success in eCommerce.