When the world shut down for the pandemic, businesses from brick and mortar retailers to restaurants screeched to a halt. But not all companies suffered from the intense fall-out of shuttering their doors. The ecommerce industry saw unprecedented spikes in online shopping and digital consumer behavior. Reports show that consumers spent $861.12 billion online in 2020, showing a 44.0% increase from 2019.
But as pandemic conditions wane and things start to get back to normal, you can still create an ecommerce business and succeed. Here are six reasons why.
1) Consumer Spending Has Changed Forever
The world of consumer behavior was already in full swing when the pandemic hit. However, we saw grocery shopping and online fitness go from a novel idea to the mainstream option. Research also shows that 75% of consumers who tried a new shopping behavior during the early months of the pandemic and 73% intended to continue.
If you want to start an ecommerce business in an unusual niche or typical brick and mortar industry, now is the time. The world is already accustomed to everything going online, from cooking classes to healthcare. There’s room for your niche, too.
2) Self-Employment is the Only Form of Job Security
It was just a short time ago that people were ghosting out interviews because the job market was strong. But 2020 was a game-changer for employment. Estimates show that nearly 114 million people lost their jobs over 2020 due to the coronavirus pandemic.
It’s no longer a safe bet to get a job and bounce around to new opportunities as you see fit. You need to go out and create new opportunities instead of letting them happen to you. When you start an ecommerce business, you take more control over your future and how you want your financial health to look.
3) There’s Always Opportunity to Make Things Better
Ready to start an ecommerce business but are nervous about the competition? Thank your competition instead of fearing them. When you launch an online business, even in a saturated market, you can look to your competitors to see what they’re doing well and what they’re not. You already have insights into their audience and demographics, which products seem to be the most popular on their social media channels, and what types of ads they use.
The idea isn’t to copy what your competition is doing but to see what they do well and how you can make it better. Look for the shortfalls and read their product reviews to figure out how you step in and create something far superior.
4) You Can Embrace New Innovations
When we’re living in crisis mode, we look for ways to innovate and pivot to resolve the issue. The pandemic is no different and brought fresh innovations to the marketplace. Brick and mortar quickly blended a new form of commerce with curbside pick-up options. Gyms started curbside pick-up of weights and other equipment, along with virtual classes they didn’t offer before.
Whether you’re taking brick-and-mortar shop virtual or want to start an ecommerce business of your own, the time to innovate is now.
5) People Are Looking for Solutions
It’s no secret the world was restless and uneasy during the pandemic. Shutdowns brought a shocking new reality of trying to cope without distractions and indulgences outside. Instead, more people turned to online shopping, classes, delivery, and digital entertainment. You can continue the trend of delivering on solutions with your own ecommerce business. There’s more flexibility in the world to be out and about, but people are now accustomed to bringing their solutions to their homes.
6) It’s Never Been Easier to Start an Ecommerce Business
Just twenty years ago, options were limited if you wanted to start an ecommerce business. Platforms offered limited functionality, and big players like eBay dominated the marketplace. Today you can launch a Shopify Store, Etsy shop, or eBay account in minutes. You can also take your pick of fulfillment methods from print-on-demand to dropshipping.
The pandemic only sped along the tools and resources to start and grow an ecommerce business. Platforms make it easier thane ever for brick and mortar shops to pivot and people to develop their online empire.
Ready to Start an Ecommerce Business?
What about you? Are you ready to start an ecommerce business and embrace entrepreneurship? Contact Digital Nomad Designs to learn more about our web design, SEO services, and other digital marketing solutions.