Ecommerce is a multi-billion dollar industry that is growing at an exponential rate year after year. In the US alone, the growth figures for online shopping lie somewhere between 8% – 12%. According to one study online sales have been projected to amount to more than $600 billion by 2020. With such promising prospects on the horizon, there are not many reasons to stop one from venturing into the field.
Here we discuss more specific reasons why you should consider investing in an online business at the earliest. While the overall outlook is promising, there is a load of small scale benefits that individuals can obtain from the field on ecommerce. A few of these have been listed below:
The freedom of being your own boss
Almost half of all employees wish that they could liberate themselves from their work lives. This is because at the end of the day, performing the work that you’re doing for someone else can take its toll on every individual. A business, especially an online venture these days can help you wade out of these troubled waters and into a state of freedom where you’re king.
A word of warning, being your own boss doesn’t necessarily mean having a relaxed stress free life. While it means that you have unlimited freedom of time, creativity and management, there is no guarantee that all your hours will be spend relaxing in your home on a comfy office chair.
Strong growth indicators for the future
Ecommerce is one of the fastest growing fields in the world of business today with markets like the US and China already coming close to $500 billion in sales annually. All major experts have predicted that this trend is going to continue as 70% of people today believe they find a better deal online rather than in a retail store. Couple this with the 10% annual growth prediction for online shopping and it is easy to see where things are going.
Small overhead costs and high profit margins
Online businesses have very little start-up costs due to the breadth of features offered by the internet these days. You’ll need to buy equipment if you haven’t already got everything you need. It’s also a good idea to pay for a market research company to get all the market research done for you to the highest standard. This will ensure all the information on your target market and the industry is correct. Social media is absolutely free for small scale start-ups to create their platforms and start selling as soon as they capture the attention of their target markets. This is one of the reasons that the youth today is venturing into ecommerce quite rapidly.
There are no limits to expansion
A well managed business that is based on sound strategies is an unstoppable force in the online realms of today. Amazon is one of the best examples that came from humble beginnings and just being a book store. Today it is one of the largest online retailers in the world with its founder amongst the richest people on Earth. There are other examples of smaller ventures that have made it to enormous success as well. This goes to show that once you have the appropriate tools and techniques in place, you can grow huge.
It is a chance to shape the future
Most of all, an online business allows you the opportunity to contribute towards the future and make a difference in how the world will look like a few years from now. While there a plethora of products and services that are already being provided through online platforms, this is still a lot that is left to be explored. All these ventures together will alter the outlook of the world for the future generations.
We’re quite confident that by the end of this discussion you’ll be feeling the urge to tread down the ecommerce path. In case you have but are confused where to start, visit us at the8figuredreamlifestyle.com and discover a whole world of possibilities for yourself.