The internet and the recent development in technology have greatly changed the lifestyle of all human beings and hence, people are moving towards eCommerce startups.
With the option to purchase a wide variety of products from online shops, people are no more limited to the items sold in local stores.
With the emergence of different eCommerce brands, people have the freedom to buy products exclusively available at a certain place.
In spite of fierce competition in the eCommerce world, many businessmen are still considering eCommerce startups as they know its potential.
What has been the COVID effects on eCommerce
The year 2020 is quite different from any other year as of now. Since the beginning, the whole world is facing a pandemic and there is no sign of improvement in the recent future.
Getting essentials and basic necessities has also become a difficult task since local stores are not opening due to lockdowns.
In such cases, people have to completely rely on online retail to get almost anything. Thus, the present situation has provided a good opportunity for the startup eCommerce business.
Good opportunity for eCommerce startups
There has never been a better opportunity to begin an eCommerce business. If you have any e-commerce startup business plan then now is the time to rise.
Doing the right actions and making the right decisions now can provide a boost to your business. Hire PHP developer to get right into the competition.
Here are some ways how you can make the most out of this opportunity.
#1. Provide essential items
With local shops not opening or running out of stock, people are totally depending on online retailers to get their basic needs.
The government is also encouraging people to buy items online as social distancing can be maintained. Essential items include food, groceries, housekeeping items, and other daily needs.
This means your online store should be able to provide all sorts of essential items to customers in adequate quantities.
You need to keep in mind the different variants and brands of certain products as people tend to get items they are familiar with for their daily needs.
You need to keep in mind that some people tend to hoard and waste items. Thus, you need to limit the quantity of these items per customer in order to serve more customers.
#2. Keep healthcare items and protective equipment
Keeping the present situation in mind, many eCommerce startups are solely providing healthcare items and protective equipment.
These items include hand sanitizers, medicated soaps, antiseptics, disinfectants, face masks and shields, gloves, PPE kits, and others.
These products are in high demand by hospitals, doctors, and even common people. Your eCommerce startups ideas should include a category for such items on your online store.
#3. Some electronic gadgets are in high demand
Life cannot stop simply because of this pandemic. Earning people need to work from home. Students need distance learning programs, online classes, and online exams to proceed with their curriculum.
This means people have to heavily rely on electronic gadgets. Products such as desktop computers, laptops, mobile phones, tablets, video conferencing cameras, and microphones are in high demand.
You can startup an online business just by selling these electronics and then expand to other categories.
#4. Expand logistics and delivery
Your startup eCommerce business ideas should have the vision to serve customers irrespective of where they are located.
The lockdown has affected remote areas too and many of the best eCommerce businesses do not cover these areas.
You should take the opportunity to develop logistics in such a manner so that you can readily ship items to remote locations.
That way you can earn the faith and trust of many small communities who will never look to your competitors.
#5. Multiple modes of payment
People like to pay in the mode they are comfortable with. In general, people tend to prefer cash on delivery or pay on delivery when doing transactions online.
With the pandemic situation, pay on delivery modes have to be completely avoided due to the risk of transmission.
As a result, you have to provide various other modes of payment with adequate security in order to make your customers feel comfortable while transacting.
You must also keep in mind that the financial conditions of many households are not good and thus you should give the option to make payments in installments.
#6. Collaborate with brands for certain products
eCommerce startups usually find it difficult to survive alone in this competitive environment.
Most innovative brands know this and they collaborate with a certain company for specific products.
This is beneficial both for the company selling the product as well as the online store. This mutual tie-up can help both parties prosper and beat competitors.
#7. Use appropriate technology
As the online marketplace is becoming more and more popular, the IT industry is concentrating more on this front.
They are giving more time and resources to eCommerce development services in order to further improve eCommerce.
Advanced technologies such as virtual assistants have revolutionized eCommerce. Investing in a virtual assistant can unload your burden as a businessman and make operations run smoothly.
Such innovative eCommerce technologies can reduce the staff that you need for your business and maintain COVID protocols.
Tips regarding competition
You cannot be the best online retailer overnight unless you get ahead of the already present competition.
This is very important for eCommerce startups as the top e-commerce retailers will use tactics so as to not let your business thrive.
Here are some tips regarding the competition.
☛ A well-optimized and attractive website
The first thing any customer will notice is the webpage of your online store. Many eCommerce startups tend to ignore this and that is a big mistake.
Customers should be able to open the webpage from any device and navigate through the page in a hassle-free manner.
The website should also have security against hackers, otherwise, valuable data will be at risk. Even the personal and payment details of the customers will be at risk.
Thus, hire a good PHP developer who can help you with the development and design of your online retail webpage as well as provide security.
☛ Competitive pricing
If you go through the eCommerce business list then you will understand how much competition your startup is going to face.
Customers purchasing products online compare the prices of the product they want across all online stores and go for the best deal.
If you want your new business to survive you will have to keep the profit margins low so that customers get the best deal from you.
Giving deep discounts, promotions and sales can really attract customers to your online store.
☛ Adequate product details
The biggest problem with online products is that customers cannot see or feel the item they wish to buy. They might have queries that may remain unanswered, discouraging them to make a purchase.
You have to make sure all the products that are available on your online store have adequate descriptions and high-quality pictures. The details and specifications of all products should be mentioned thoroughly.
If even after that customers have any doubts, you should make provision for a live chat box where customers can get their doubts cleared in no time.
☛ Feedback analysis
The best way to understand if customers are linking your website is through reviews and feedback. This is very important for eCommerce startups because they can understand the shortcomings through feedback.
You must analyze every feedback with special emphasis on negative ones in order to understand what changes you must bring to your online retail.
You must fine-tune the experience over time based on the feedback you receive and only then can you give the best online eCommerce experience to your customers.
☛ Not falling into traps
Businessmen with already established eCommerce businesses love to enjoy a certain control over the market.
New eCommerce startups may seem insignificant to them initially but can give very tough competition in the future. Many businessmen understand this very well and tackle the problem at the root.
You may find very lucrative offers when you start your business. You may feel that it is better to take the deal than to struggle in the industry.
However, if you refuse them and accept the challenge, you can have your business established and gain much more.
Ecommerce has gained more importance in 2020 than ever. This is an excellent time for eCommerce startups as the whole world is heavily relying on online stores to get products.
If you are wondering how to start up an eCommerce business then this guide is for you. If you can make the most out of this situation and follow the tips, your eCommerce business will flourish very soon.
Be aware of your competitors and their statistics, and aim to provide an experience your competitors cannot.