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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