Ecommerce market analysis

Ecommerce market: selling products and services through the internet — offers vast opportunity for entrepreneurs everywhere. A quick look at eCommerce statistics will show solid growth with no sign of slowing down. If you're interested in starting a business, selling online can be extremely rewarding. It can also provide a path to success without the risks involved in buying property and opening a physical store.

Of course, there are several steps involved in starting an online store. You'll have to choose an industry, think up a business name, and decide what types of customers you want to serve. Since your storefront will be on the internet, you'll also need to choose the right domain name for your website, build your online store, and handle other details like which shipping carrier to use. At the beginning, this can seem overwhelming, but the process will be much more approachable if you follow our guide.

1) Decide what products to sell
Your first step is deciding which products or services to offer. Your products can range from unique products you’ve created to sourced items from third party vendors or drop shippers. To help you choose the right products for your online store, read our comprehensive guide on selecting products to sell online.

2) Identify your target market
Researching and identifying your target market and competition will go a long way to help you decide product pricing, website design and branding, and building your initial marketing strategy. This can provide insights into showcasing your product’s benefits to potential customers.

3) Pick an all-in-one ecommerce platform
Picking the right ecommerce platform is just as important as the product you sell. Make sure you choose a fully hosted, all-in-one solution that allows you to own both the ecommerce website and the shopping cart software. This way, you don’t need coding skills or have to pay transaction fees on sales. You also have access to a support team to help you set up your store.

4) Build your online store
Choose an ecommerce theme or a custom design that works with your brand. Set up product categories and upload your inventory with as much information as you can. Set up shipping methods and payment gateways.

So, let's get started!