E-commerce is more significant than ever in 2021. In this year alone, there will be more than 2.14 billion online buyers worldwide. What once was a small market consisting of a few players like Amazon has blossomed into a big industry.
In today’s age, any entrepreneur can start an e-commerce site with relative ease. What most people want to know is how much can you make with e-commerce?
Reliable data shows that a new e-commerce store can make up to $63,000 a month after three months. On average, stores make just under $39,000 in their first month of business. That’s considering that you’re selling in-demand products and have a well-designed website.
If you’re eager to learn how you can start making money using a platform like Shopify, you’re in luck. We’re here to break down how you can get started making money with an e-commerce store.
Why Choose E-Commerce?
As stated before, e-commerce is a gigantic industry. Yet, if you’re running a successful chain of brick-and-mortar stores, you may not see much use for it. Yet, you would be missing out on thousands in potential revenue.
In today’s age, consumers prefer shopping online for just about everything.
That includes groceries, toiletries, electronics, and so much more.
People also love to shop for services on the internet. So if you’re a masseuse or dentist, you can benefit from having an e-commerce store. The same is true if you’re a professional coach or consultant.
If you have physical businesses, your customers will appreciate being able to shop online. You’ll quickly find lots of new customers that exclusively shop online.
Starting a Shopify store is an affordable investment for any sized business. You can sign up for their Basic Plan at just $29 per month. With it, you can design a fully functional online store selling your products worldwide.
Perfect for Entrepreneurs
Let’s say that you don’t have any businesses yet, but you want to start one.
Well, e-commerce is the most entrepreneur-friendly space in the market. Starting an e-commerce store is far more feasible and affordable than a brick-and-mortar one. You won’t need to lease an office building or hire staff.
Instead, all you have to do is design an e-commerce store and start selling products.
So if you’re eager to get your foot in the door in the business world, e-commerce is the perfect starting point. By starting a dropshipping or print-on-demand business, there’s plenty of room for error.
Dropshipping and Print-on-Demand Businesses
There are two e-commerce models that entrepreneurs are flocking to like crazy. Both drop shipping and print-on-demand models are low-risk, cost-effective ways to start new businesses. When done right, you can also make a lot of profit without spending too much money.
The biggest draw for these models is the fact that you don’t need to manage inventory yourself.
Instead, you use a third-party service to do that for you. They will package your product and ship it to the customer.
That way, all you need to do is market your products and process payments. You won’t need to rent out a warehouse or manage any physical inventory.
Dropshipping works by selecting a supplier of not only shipping but products too. You choose from a line of existing products to sell through your Shopify store. Apps like Spocket allow users to dropship discounted products from around the globe.
Print-on-demand is very similar, with one distinct difference. It’s for budding graphic designers eager to share their creations with the world. If you have a series of original designs that you want to print on merchandise, print-on-demand is for you.
In this model, the third-party provider keeps a warehouse of blank merchandise on hand. That includes mugs, hoodies, t-shirts, and others.
Once you get an order, they will print your original design onto the merch and ship it to the customer. Hence, the name print-on-demand applies perfectly.
The company will only print your designs if there’s an active order for them. Both of these business models are perfect for entrepreneurs wanting to get started in e-commerce.
Creating a Successful Store
If you want to increase how much you can make with e-commerce, you’ll need a well-designed storefront. That’s one of the biggest reasons why Shopify is such a popular platform. It makes it effortless to design an attractive store that promotes your products. There are a few rules of thumb to apply when starting a new Shopify store. They are:
- A niche focus. The most successful stores are ones that operate within a niche of the market. That’s a specialized market segment that’s usually related to a mindset or a hobby. Popular niches include health and wellness, pet lovers, and more. Identifying a niche that you’re passionate about and is popular should be your first step.
- An attractive storefront. Your store needs to have a sleek design that showcases your products. Your customers shouldn’t have trouble finding where to make a purchase or browse your inventory. Well-written product descriptions are also a must. Please do your best to describe why your products are valuable and what problems they solve.
- A robust marketing strategy. Shopify arms you with all the tools that you need to market your business. You can add a blog to any Shopify store to add informative and relevant content for your customers. It would help if you also optimize your blogs for search engines and your entire store. Finally, an email marketing strategy is a must for any successful store. You can use Shopify Email, but we recommend using Privy for email marketing and pop-up ads.
- Customer interaction and engagement. What are you doing to engage with your customers? Do you include a satisfaction survey with every purchase? Or would you love to start a customer contest with an attractive prize? The more ways that you can get your customers to interact with your brand, the better.
Try Shopify for free.
If you are interested in Shopify and want to try it out, Shopify is offering a 14-day free trial here. The free trial is great because you get to see how Shopify works before committing to one of their monthly programs. If you decide to start the free trial, you can pick up right where you left off when you switch to the monthly plan. If you’re looking to grow or start your online business, this is an excellent opportunity to try Shopify.
How much can you make with e-commerce? The sky is the limit if you take the right approach. It’s a gigantic industry that has a lot of potentials. The great thing about e-commerce is how beginner-friendly it is and how affordable it is to do. Even if you’ve never run a business before in your life, you can start an e-commerce store with relative ease.
For more great content to help you develop your Shopify strategies, check out the rest of the merchant posts on the site. If you want to see a list of our top recommended Shopify apps visit this link here.