What are the factors for e-commerce success?
Starting an online store seems to be easy and it really is. There are many free solutions, however even the paid ones already have a low entry threshold. That is why it seems that we don’t need a lot of money to start such an activity. You can do it even within 2-3 weeks. Unfortunately after starting your ideal online store you have to ask yourselves some questions – to whom to sell it, where to find customers and why your competition sells the same products cheaper and aditionally they are always one step ahead of you? Don’t cheat ourselves – the market which is worth a lot of money attracts like a magnet. However the reality isn’t as colourful as it seems. So let’s check the factors that influence on it.
A big fragmentation of e-commerce
When you plan to enter the e-commerce world, remember that the market structure is fragmented. We’ve got many subjects, who compete with one another about the same customer. We also have some big subjects – Amazon and other auction services ( eBay, Aliexpress), which already have an established position on the market. We can’t also forget about many small stores, whose income is lower. That is why if you think about starting your store, look around and look for a (to some degree) unique niche. You can of course add other categories of products later, but it’s worth starting your store with a category that isn’t so popular yet. However if you want to ‘face the gigants’, be ready to work hard. You’ll also have to face quality of your service and positive experiences of your customers, so as they would be willing to come back to your store.
Logistics – an important factor for success
The second factor is logistics of your enterprise…yes you’ve read that correctly – logistics. This element clips wings of many companies, which try to start their business in e-commerce. Why? The customers are already used to a quick delivery of their orders. That is why they expect their orders will be delivered within 2-3 working days. If you don’t have your products in stock, and you only base on your producer or supplier stocks then there is a problem with executing an order within such a short time. What’s more we’ve to remember about cost optimization here and it’s not an easy task.
Quality, quality and one more time quality
The third important factor is price in relation to the product quality and customer service. In times of price comparison sites, every customer wants to pay less for the product that he looks for. That is why the relationship between price and both customer service and product is so important. The customers are more often ready to pay more for reliability and safety of a service. They also want to have a guarantee that the purchased product will be delivered for them on time. Remember also to pack the parcel nicely and if you have a possibility add a discount coupon to encourage customers to the next purchase. Additionally you can personalize the parcel and thank for the purchase in your store. The customer served in this way will be more satisfied with the purchase and he will recommend your store with pleasure.
And according to you – what factors are important in e-commerce??