Choosing the right digital or physical product is essential for your success on ecommerce platforms.
These platforms are digital-first, and that means the consumer has something in common with the merchant and the product being sold—in this case, a searchable database of products. Physical stores are still necessary for a profitable business, but the digital world is changing how we shop. Consumers are mobile and find answers to questions before they even ask their friends.
One of the first things you should think about is how much you’re willing to spend on traffic and marketing.
There are many benefits of ecommerce online. You can start selling things online from very little capital investment. You can make money almost immediately from your online store if you choose to do so.
However, there are significant costs associated with ecommerce. These costs are not often talked about and should not be taken lightly. Some of the most common costs include: site design and development, inventory management, inventory fulfillment, bandwidth, electrical equipment, software support, computer equipment
If you make your living primarily off online marketing, then it would make sense to focus on improving your online presence. Physical products, on the other hand, have a unique value that shouldn’t be ignored no matter what your online goals are. If you make custom shirts that are printed on demand, there’s no reason you should limit your exposure (and profit!) to only online channels.
Why is digital commerce so powerful?
Your website is accessible on any computer or mobile device in the world. Powerful search engines like Google are able to show your site in front of potential consumers, even if they do not type in a specific keyword that relates to your products or services.
Because there’s an online store for everything, consumers don’t have to leave their comfort zones when they need to purchase something. No matter the day or time, they can simply buy from a business that is always open.
The digital economy is reshaping how people buy things. Buyers can access the web to find products and pricing information anywhere at any time ─ even when they are on the go. This gives e-commerce a huge leg up on retailers, who must open their doors every day at fixed business hours.
The internet has changed how we interact commercially. Businesses that have their own online presence can tap into consumer markets like never before. Imagine being able to offer your products and services without even leaving home. That’s what e-commerce is all about.
Your 24-hour online store may be easier than your physical location, but in many ways it’s more powerful too. It provides a wider variety of products–exactly the items that buyers want. It provides an infinite amount of information for consumers who are searching for these products. And when buyers find what they’re looking for, they can purchase it and receive it within hours.
Think about your online space as a shop on the corner that’s open 24/7. Unlike brick and mortar shops, you don’t have to be worried about business hours. This is a big advantage for your e-commerce store as it puts your products in front of consumers whenever they are ready to shop. The digital world doesn’t recognize holidays or times when you might not be in the office.