The internet has become an integral part of our lives, and it’s no surprise that e-commerce has grown to become a major industry. With the rise of online shopping, retailers must have an effective e-commerce website to reach their customers. Currently, 43% of shoppers use the internet and social networks to research products before purchasing, and by 2024, ecommerce revenue will be worth $476 billion in the US This shows just how important it is for businesses to have a successful ecommerce website to stay competitive .
Ecommerce Selling Statistics
Ecommerce selling statistics demonstrate the significant growth of internet sales over the upcoming years. In 2021, ecommerce will account for 22% of all retail sales around the world. That’s up from the 14% they were in 2019. Moreover, this indicator is expected to make up close to 25% in 2026. In the same year 2021, retail sales accounted for $4.9 trillion worldwide. It’s anticipated that this number will rise by 50% over the next four years, reaching approximately $7.4 trillion in 2025.
The potential of setting up the e-commerce platform is huge. Business owners can gain from this trend by making it simple for shoppers to make purchases instantly. In addition, with international sites and shipping services, businesses can reach overseas consumers. The impact of COVID-19 has only further accelerated this trend as people are now more likely to shop online due to safety concerns and restrictions on physical stores.
Exploring the Benefits of Having an eCommerce Website
Having an eCommerce website is essential for any business that wants to succeed in the digital age. The solution provides companies with a platform to increase their bottom line and create connections with customers. Establishing an eCommerce website requires a business plan and marketing strategy, but it is easier and more affordable to launch than physical locations.
Through collaboration with courier services, online businesses can make their products available around the world and expand their customer base.
An eCommerce website also helps businesses build brand awareness and loyalty. Customers can easily find information about the company’s products and services on the website, as well as read reviews from other customers. It helps build trust between the business and its customers, leading to increased sales.
Additionally, having an online presence allows businesses to reach out to potential customers who may not have heard of them before. Finally, with an eCommerce website, companies can expand their reach beyond local markets and tap into global markets for increased profits. Here are a couple of reasons why retail businesses need an ecommerce site.
1. Customers Prefer Online Shopping
Online shopping has become increasingly popular in recent years due to its convenience and time-saving features. Customers can shop from the comfort of their homes without worrying about long checkout lines or waiting for their items to arrive.
The pandemic has also impacted e-commerce sales which surged by 40% in 2020 due to the increased demand for online shopping. Online buying is convenient and safe; people can buy from anywhere, anytime, using smartphones. That’s why it’s no wonder more people are turning towards this option for their shopping needs.
2. Smaller Financial Risks
Selling products online is a great way to reduce financial risks. Compared to opening a physical store, the costs associated with setting up and maintaining an online store are much lower. It includes staff, electricity, rent, site setup, maintenance, and marketing costs. These are more predictable when running an online store than a physical one.
3. Maximizing Business Growth
Maximizing business opportunities is key when it comes to running a successful venture. With the rise of eCommerce, companies can now reach audiences globally and operate 24/7. Investing in an eCommerce platform can provide a passive income stream and reduce monthly rent expenses. Digital advertising is more cost-effective than traditional media, providing business owners with flexible marketing strategies. Utilizing a chatbot can improve the customer experience by providing round-the-clock customer service.
Which Features are Important for an Ecommerce Website?
An ecommerce website should include a variety of features to make it successful. First, the website should focus on a niche the owner is passionate about and experienced in. It will ensure that the products offered are relevant to the target audience and attractive to potential customers.
In addition to these core elements, an e-commerce website should also include other features such as payment gateways, shipping options, product reviews and ratings, search engine optimization (SEO) tools, social media integration, and analytics tools. These features are essential for creating a shopping app that can attract customers and generate sales. Let’s see the main functionality to implement into your e-commerce solution.
1. Homepages
The homepage of any online store must be well-designed and informative to make the right first impression to customers. It should feature the top product categories, popular products, and products that are on sale or new. It will help customers quickly find what they’re looking for and encourage them to explore further.
In addition to providing information about products, the homepage template should also reflect your brand. Include images, slideshows, or videos to engage visitors, and make sure they communicate your business type. Ensure all elements are consistent with your branding guidelines so that customers can recognize your store at a glance.
2. Categories
Categories are an essential part of any e-commerce website. They help customers find what they need quickly and easily.
3. Product Pages
Product pages are an essential part of any e-commerce website. They should include a detailed description of the product, its price, photos, and an ‘Add to Cart’ button. Additionally, upselling related products with a ‘People also buy’ carousel can help increase sales.
4. Checkout Funnels
The checkout process is an integral part of any e-commerce experience. It begins with the shopping cart, where customers can view their items and the total cost before ordering. The checkout page should provide a clear list of available payment methods, shipping information, and a “Pay Now” button for customers to complete their purchases.
Once the consumer completes the payment, they should be taken to a Thank You page that displays the items and payment method used.
Points to Consider Before Creating Your an Ecommerce Site
Here are a couple of things you should account for to make a successful e-commerce platform. So let’s figure it out.
1. Choose a domain name
Picking the correct domain name is essential for establishing a brand identity. A good domain name should be concise, straightforward, and easy to remember. Steer clear of domain names too close to existing ones, which could cause misunderstandings or legal trouble.
2. Decide on the development type
If you’re new to Ecommerce, it’s good to consider low code development to set up your online store. This approach doesn’t require deep code knowledge and allows for creating an ecommerce platform using pre-built code blocks and design templates. In this way, you can quickly and easily create a professional-looking website with minimal effort. The drawback is that you’re limited to the functionality and design available.
3. Pick a theme
When choosing a theme for your e-commerce website, there are many factors to consider. First and foremost, you want to ensure that the theme is a good fit for showing your products. Second, it should load quickly and be mobile-friendly to keep customers engaged. Third, you should look for themes that have an easy-to-use interface so users can easily navigate through your store. Finally, it’s essential to read reviews of the theme before making a purchase decision and make sure it fits your budget.
4. Include photos and descriptions of the product
No online store is complete without product photos and descriptions. High-resolution images and detailed descriptions should replicate the in-store experience for online shoppers, giving them a better idea of what they are buying. Photos should be taken from multiple angles to show the product in use, including its unique features and video tutorials/demos. Including relevant keywords in product titles and descriptions will make it easier for shoppers to locate your products.
5. Design extra pages
Creating supporting pages for an online store is essential to guide the customers through purchase decision-making. These pages should include Terms & Conditions, About Us, Contact Us, and Shipping & Returns.
6. Set up payment processing
Setting up payment processing for an online store is vital for successful sales. It is crucial to choose the proper payment method that meets your needs and is trusted by customers. PayPal, Stripe, and Shopify Payments are popular payment gateway options. After connecting to one of these services, it is vital to make a test payment to ensure the system is functioning correctly. It will help you avoid any issues when customers start making actual payments.
What Is the Average Cost to Create an Ecommerce Website?
Making an ecommerce website may cost you from $5000 to $55,000+. The price depends on multiple factors, such as website complexity, type of platform, the technical expertise required, and the number of features. In addition to the initial setup costs, ongoing maintenance and support should also be considered when budgeting for an e-commerce website.