From 2024, the e-commerce landscape will continue to see robust growth and forecasts point to a further increase in online purchases. The share of e-commerce purchases is expected to rise from 14.1 % in 2020 to an impressive 23 % in 2024. This data highlights the ongoing trend of consumers increasingly making their purchases via online platforms. Factors such as convenience, a wide range of products and the development of digital payment methods are contributing to the further expansion of e-commerce. The updated figures confirm the continued importance of online retail in the global market and reflect a significant shift in consumer behavior and preferences.
Here is a short checklist for anyone who wants to open their own online store:
- What should you look out for?
- Which steps should you not miss under any circumstances?
8 simple steps to your online store
Step 1: Select product
The development of an online store almost always starts with an idea or a product.
Perhaps you already have a store and would now like to sell your products online.
Or you have a product from your hobby that you would like to sell online.
A third possibility is that you come across a product that interests you and that you would like to sell yourself.
Step 2: Investigate the market
How unique is your product? If you are one of thousands selling a particular product, it can be difficult to stand out from the competition.
Before you open your own online business, it is therefore important that you find out about the opportunities that the market offers you.
One simple way is to search for the product you want to sell on Google.
Take a look at the best search results and ask yourself whether you can stand out from your competitors.
Social media can also be a good source of information about new trends.
Perhaps a certain trend is very popular abroad, but there is no one selling this product in your country yet.
Step 3: Find suppliers
Without suppliers, you don't know how much your products will cost, what profit margin you can achieve and how much profit you can make.
If you want to open an online store, you need to know exactly who your suppliers will be.
Make sure you make clear agreements with them in advance.
Step 4: Select your online store software
Due to the wide range of online store software available, it is often difficult for entrepreneurs to choose the e-commerce platform that best suits their needs and wishes.
Nowadays, there are many providers of online store software that can help you set up your own online store.
These can be classified as follows:
- Software as a Service (SaaS)You pay a fixed monthly fee and get a full set of standard features, including free upgrades.
- Open Source (OS)The source code of the online store is created and maintained entirely by you or a web developer. Updates are not automatic and are usually not free of charge. In this case, you can outsource the development of your project to save costs.
- Tailor-madeIn this case, your online store will be designed entirely according to your wishes. All you need is the best e-commerce development company. With this option, you stand out from the crowd and offer your customers added value.
When choosing a SaaS online store, it's important to consider both the monthly costs and the features you need now and in the future.
If you compare the costs of developing an eCommerce application with those of a SaaS store, the development of an eCommerce application appears to be more cost-effective in the long term.
Step 5: Make your online store discoverable
Once you have a domain name and are happy with your choice of software provider, you can link the domain name to your online store and launch your online store.
Your store will probably not be found yet, although a good domain name can work wonders.
A good way to be found more easily is to set links.
This means that you ask other websites to link to your own e-commerce store.
When link building, you need to consider two things: the quality of the website linking to you and the number of links (the higher the quality of the links, the better).
High quality websites can be found through a Google search for your most important keywords.
SEO (Search Engine Optimization) is another important aspect for the visibility of your e-business.
By applying certain tips, you can influence the visibility of your online store in the search results of search engines such as Google.
In this ultimate SEO guide, you will learn what you need to pay attention to when optimizing your online store.
If you are just starting out, you can also outsource search engine optimization to a digital marketing company so that you can focus on developing your business and your products.
Step 6: Register your online store
Every entrepreneur must register their company with the competent authorities in their country.
The requirements vary depending on the type and size of the company.
It is best to open a business account with a recognized financial institution.
This makes your bookkeeping easier and, above all, gives you a better overview.
Once the legal formalities have been completed, you can operate your online business without any problems.
Step 7: Inform your customers
Describe the most important features of your products and the price.
Taxes and any transportation costs must also be stated.
The customer should know who you are: Your business number, your address (not a PO box), your telephone number and your e-mail address.
Inform you about the payment and delivery options.
This information must be clearly described before the customer orders the product.
This creates trust with your customers.
Step 8: Don't forget marketing
This is the last step, but it is certainly not trivial.
There are various methods to publicize your online business.
For example, you can write high-quality blog articles, reply in online forums or generate backlinks.
You can also actively promote your products on Facebook and Instagram.
There are also paid methods such as advertising on Google via Google AdWords (you pay per click on an ad).
You can also use email marketing. Automating the process will help you generate more leads and therefore increase your sales.
Introducing chatbots is also a good idea to stay at the forefront of customer service.
All these steps can seem like child's play if you entrust the development of your online store to an experienced e-commerce development company.
Would you also like to benefit from the advantages of selling your products online? Contact us and talk to one of our online store development experts!
