The rise of the E-commerce industry

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The rise of the e-commerce industry has been an astounding one. Almost 50 years ago, it would have been thought impossible to get to where we are today. But what is e-commerce? It’s an act of buying or selling of products or services online, through the internet. You might have heard of Alibaba, Amazon or eBay; these three companies are among the biggest in the world, and they have one thing in common: they offer sellers a chance to list their products or services, and the potential buyers can view it on that platform that they have created.

Ease of convenience

The advent of the Internet and e-commerce has made physical shopping a thing of the past for some people. With just a few clicks on the computer and a card to make a purchase, one would expect the product to be delivered to their doorsteps without heading to the physical store to make purchases. At present, some grocery stores do offer this option as well, saving precious time for the busy professionals.

Starting your own business

The majority of the younger generation is tech-savvy and it wouldn’t take long for them to learn about the inner workings of the internet. With this in mind, some have even opted to start their own online business doing drop shipping, or on a smaller scale, buying of products from a wholesaler and selling them on a platform itself. Simply jumping into this industry without doing any prior research or setting your business targets may affect your profit margins.

The need for a platform

For starters, one would need to consider if they need to build a platform to showcase and start selling their products. Identify what products or services you are offering. For example, if you are offering tuition, you don’t need an e-commerce platform. Instead, a simple website with advertising would suffice. If you are doing e-commerce on a larger scale, you would require a platform like the Magento development in Melbourne. The use of a ready-made or customised platform would allow you to set up your business quicker, instead of wasting the precious time to create one yourself.

Potential to monetise

Whether you have a physical store (and wish to expand your business), or someone who is thinking of trying their hands out in the e-commerce industry, there is always a potential to monetise your line of products or services in the limitless world of the Internet. The platform that your business is set upon on, acts a digital storefront for potential clients to view your products and services. And through advertising, you will have a wider outreach to a broader range of audiences, which will in turn increase the potential of your business.

The effective use of a platform will ensure that your products will be showcased in a professional and concise manner, leading to traffic generation and increased sales for your website. On a side note, remember to consider all other aspects of being involved in the e-commerce industry, whether as a buyer or seller as the e-commerce industry can be a double-edged sword.

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