You’ve probably been encouraged by the news of how big the online marketplace has been. Or tempted to launch your own Internet-based venture because of the favorable experience of someone you know. Whatever your reason is, you might want to learn some of the important things to keep in mind when launching an online business.
The e-commerce sector is widely projected to be the biggest retail channel several years from now. Euromonitor International believes that the sector will reach that status in 2-3 years. By 2021, e-commerce is projected to account for 14 percent of total retail sales.
Online merchants naturally wish for increased traffic and sales for their e-commerce stores. As the online marketplace becomes more and more competitive, it has become crucial for online merchants to employ marketing tactics to boost traffic to their websites and hike their sales and revenues.
When Bitcoin reached a peak price of $20,000 in December 2017, the hype about this cryptocurrency also hit an all-time high. The media flooded news about the escalation of Bitcoin valuation in the market. But a month later, the price dropped by almost 50%. This highlights how cryptocurrencies like Bitcoin can shake up businesses and markets worldwide.
The Digital Age has come and businesses are adapting to the changes brought by it. Brick-and-mortar retailers are perhaps one of the most hardest hit by the digital transformation as customers are preferring to shop online instead of going to a traditional store.
Now that you have decided to start your own online business, the next important step is to determine the right content management system (CMS) for your venture. There are many e-commerce CMS platforms available but there are three widely-used today: Magento, Shopify, and WooCommerce.
Cryptocurrency exchange and Bitcoin wallet Coinbase Commerce has introduced a new plugin for a widely-used e-commerce platform seen to boost the number of online stores accepting cryptocurrency payments.
To say that Bitcoin is booming would be an understatement. Since the creation of the virtual currency in 2009, Bitcoin blockchain has reached more than 185 GB in size as of the end of September 2018. There was also a case of a Bitcoin purchase worth $400 million.
Canadian e-commerce giant Shopify is betting that augmented reality will become a big hit in the near future and would push online selling to greater heights.
Shopify has become the leading e-commerce platform for online merchants. With more than 600,000 clients worldwide, it offers features that an online store need such as shop design, product management, inventory, and payments.