[VIDEO] e-commerce with special guest

Highlights:

How can you determine whether e-commerce is right for your business?

Depends on your product and industry. Questions you can ask: 

  • What is your business model?

  • Do you just want to sell products or build a brand?

  • Do you want to retain stock?

  • Do want to use a third-party logistics party?

What are the key ingredients of a successful e-commerce store?

  • Easy and transparent user experience

  • Great search functionality

  • Simple payment portal/gateway

  • Record of all transactions

What are the pros and cons of using platforms such as Shopify verses creating a site from scratch?

Pros of using Shopify:

  • Can get up and trading quickly

  • As cheap as $9 to get started

  • Can scale up as your business grows

  • Great for selling physical products

Pros of creating a site from scratch:

  • Can create a bespoke shopping experience

  • Selling services and digital products might be better suited to integrations such as Stripe

  • Can always build-in added functionality later

  • Greater capacity for customisation

Important Question: Do you want to focus on selling or creating a new e-commerce experience? 
 

How do new players in e-commerce differentiate themselves from increasing levels of competition? 

  • Create a niche and offer different products

  • Provide a better user experience than competitors

  • Create a strong and definitive brand

  • Utilise the power of AI such as predictive marketing, hyper personalisation, dynamic pricing


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