The e-commerce industry is still in its infancy, but it is growing fast. As of Q1 2016, the e-commerce market accounts for 7.5% of all retail sales. That is expected to jump to 9.4% by 2021. This growth can be attributed to low costs of starting an e-commerce business, the growth of e-commerce giants like Amazon, and the demand for online shopping.
It is estimated that about 95% of new businesses fail. There are many reasons why businesses fail. Failure of ecommerce business is on the rise. The rate of growth in ecommerce business is not even close to the rate of failure. The reason why most of these businesses fail is because they ignore the basics. This blog looks at the only reasons why your new ecommerce website is not selling.
Many online business owners, especially those who are just starting out, face difficulties when it comes to increasing their sales. As an owner, you may invest in SEO, social media, PPC ads, attend free workshops, join Facebook groups, and so on, but this is not enough. Selling online is not the same as selling in-store. If you want to increase your sales, you need to learn how to overcome the problems unique to ecommerce.
Which options do you have to overcome these challenges?
To get the most out of an e-commerce site, you have to get the most from your traffic. The better your traffic, the more sales you get. In the traditional way of marketing an e-commerce site, there were a few ways to get traffic. The most prominent ways were PPC, SEO, and email marketing. Now let’s take a look at the options available to us in this day and age.
Data is the heart and soul of every business. However, when it comes to data, businesses face two major challenges: lack of data literacy and the amount of data at their disposal. Thus, the data industry is in dire need of transforming their industry with AI solutions. Here is a look at the three major steps in the process of AI implementation in the data industry.
Just imagine for a moment if your employees can work from anywhere, anytime. Imagine if they are motivated, productive, innovative, collaborative, flexible, competitive, scalable, cost effective, always on, secure, never sick, always alert, well rested, can track their time, enjoy work, get recognized for their work, see the big picture, want to be part of the team, etc.
The things to look for when you plan your e-commerce website
Considering the fact that e-commerce industry has performed well above expectations these last couple of decades, it is no surprise that the number of online retailers is growing every day. However, there are people who are still not convinced to enter this industry, especially if it is their first time trying it. There are many reasons why they are not convinced, but the two basic ones are the following:
The market is too saturated.
The cost will be too much.
In this blog, I present a way to overcome the e-commerce sales, especially for those retail owners who have undergone the sales slump for many years.