Are You Ready to Cash in on eCommerce?

In the first few months of 2015 consumers have continued to increase their online purchasing in part thanks to the growing acceptance of mobile devices as trust worthy points of purchase. This is fantastic news for small and medium US businesses who should expect an excellent return for their eCommerce investment.

Trent Edwards of Sagence Inc., the Chicago based business data experts, was quoted stating, “At $100 billion, the U.S. SMB eCommerce market will top the combined worldwide annual revenues of the country’s two largest eCommerce companies, Amazon and eBay.” (Howen, 2014)

Yes, you read that correctly. The US small/medium business eCommerce market will be larger than the worldwide annual revenues of eCommerce super powers Amazon and eBay. Is your business taking advantage of this golden opportunity to increase revenue?

Bigcommerce’s Democratization of eCommerce Report predicts that the eCommerce industry will grow to reach $2 trillion in sales in 2015. The report also reveals that eCommerce sales have been exploding with amazing growth of 30% per year. (Howen, 2014)

With a consistently high growth rate we can easily conclude that eCommerce is not a passing trend. eCommerce is a disruptive technology that has redefined the way consumers buy. It has “leveled the playing field” allowing many businesses (and individuals) to offer products with a more convenient and customized purchasing experience for consumers than traditional brick and mortar storefronts. eCommerce gives consumers more information, more choices, and has in many respects ushered business into the age of customer-centric marketing.

Growing your sales through eCommerce can be very simple if you know what you need. This includes anticipating problems and planning solutions. One of the most valuable steps you can take is to prepare (and follow) a plan to ensure your site, your staff, and your company are ready.

Here are a few examples of important questions to answer while creating your eCommerce implementation plan.

• How will orders be fulfilled?

• How will customer service be handled?

• How will you provide a secure method of payment for your customers?

• What shipping options will be offered to your customers?

• What categories will your products be separated into?

• What are your best selling products and how will you highlight them?

There are a variety of eCommerce solutions to choose from however, not every solution will work for every businesses. It would be wise to do your homework and discover what your business needs before comparing eCommerce solutions. Creating an eCommerce implantation plan will help you identify what is right for your company so you can avoid costly mistakes and start claiming your share of the estimated $2 TRILLION in eCommerce sales this year.

References

Howen, A. (2014, September 26). Prediction: eCommerce Will Hit $2 Trillion in Sales in 2015 – ‘Net Features – Website Magazine. Retrieved from Website Magazine – Free Website Trade Publication Internet Merchant Magazine – Website Industry News,Services, and Articles – WebsiteMagazine.com: http://www.websitemagazine.com/content/blogs/posts/archive/2014/09/26/prediction-ecommerce-will-hit-2-trillion-in-sales-in-2015.aspx