Is eCommerce still profitable today?
With the pandemic that caused lockdowns and people losing money by either working fewer days or hours.and the need to supplement their income more than ever before people are looking to eCommerce as a way to earn extra money, so the question is can the money be MADE in e-Commerce, Is e-Commerce still profitable today?
This is the big question being asked today, but first just what is eCommerce?
What is eCommerce
According to Wikipedia
E-commerce (electronic commerce) is the activity of electronically buying or selling of products on online services or over the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. E-commerce is in turn driven by the technological advances of the semiconductor industry and is the largest sector of the electronics industry.
In essence, eCommerce is electronic commerce. It refers to the buying and selling of goods and services online.
It also involves the transfer of money electronically to pay for sales.
Most of our daily lives have something to do with eCommerce whether it is for buying or selling physical goods or services such as training and coaching programs, especially in the year 2020 when a pandemic has caused people to work from home or be educated electronically.
E-Commerce officially started in 1994. And due to its popularity, people have been wondering if the industry is saturated.
e-Commerce has grown in popularity because of its low cost to set up and depending on the type of e-Commerce b business, you need little or no staff so it is a low-cost setup and has the potential of high returns.
Types Of e-Commerce Businesses
- There are four main types of E-Commerce businesses,
- There is the business to consumer
- There is also a consumer to consumer
- There’s the business to business
- Consumer to business
Business to consumer is where Businesses like Amazon and other online stores sell to a consumer.
Consumer to consumer This is when consumers can sell goods to each other, like Craig List or eBay, or Market Place on Facebook.
Business to business is when a manufacturer sells to another business an example would be software like Microsoft, Microsoft sells computing devices, cloud systems and services, software, and other products to consumers and businesses.
Customer to Business That means you need to sell yourself just as much as you’re selling your service.
Can You Be Successful In e-Commerce?
Yes you can be successful in eCommerce, but like in any other business there are challenges to be met and overcome
E-commerce has become very competitive, so to be successful you must be able to stand out, and in order to do this you must find a niche
Find A Niche
Remember people can buy directly from the manufacturers these days so there has to be a value addition for them to buy from your store.
One of the ways is to create a lot of useful information on how your product can be used and you can easily do this by creating a website around your product and this can help lead to lots of sales.
Creating a website is easy on a training platform it takes only 30 sec. You can create your own website HERE and start your own online business
e-Commerce Can Be Profitable
More people are buying goods online, which has increased the profitability of many online companies.
But to remain profitable it is good to take care of your customers, treat your customers with respect, and not like a profit-making center and they will buy from you again and again. This creates a thriving business.
To me, Affiliate Marketing is one of the best e_Commerce businesses, with affiliate marketing you advertise for companies like Amazon and get a commission from any purchase made from the link on your website.
With affiliate marketing there is :
No huge startup costs!
- No selling face to face!
- No stock to keep or manage!
- No recruitment involved!
- No taking of endless surveys!
- No huge investment involved – (Get started for $ FREE)
- And no working for someone else!
- You can operate in any market you wish! – even your hobbies & passions!
- Earn a full-time income & more!. No limit to your earning potential!.
In other areas of e-commerce, like having your own store where you are responsible for ordering and supplying goods, People usually buy from China because the goods are cheap and they feel they will make a bigger profit but it can lead to a lot of stress.
If you are buying your goods from an overseas source like China, which in most cases doesn’t offer sales support. This makes it very hard to know what to expect when you are buying stock. If clients don’t get what they ordered refunds and returns also take a lot of time.
Products bought from China
People often complain that products bought from China are sometimes of low quality.
With Affiliate Marketing the profits may be lower but there is absolutely no great stress, there is no inventory, no staff, you work at your own pace, and you can work anywhere.
You do not need any knowledge of affiliate marketing.
At Wealthy Affiliate you can be trained, I think they have the best training platform, upon joining which you can do free you will get 10 lessons (free) at the end of these lessons not only will you learn about affiliate marketing but you will have your website up and running
There are also TWO more membership programs with lots more information and tools the Premium and the Premium+ Check it out on the website, Wealthy Affiliate .com
I must remind you, with a website you can go to any branch of e-Commerce, you can use the website as a tool for advertising your goods or services.
While Affiliate Marketing is not a get rich quick venture it can be very rewarding, you will need to have patience, be consistent, and as in every area to be successful you need to work at it.
Thank you for stopping by, If you are in any area of eCommerce I would like to hear your thought on the subject. Please leave your comments and questions it is greatly appreciated and remember to post.
.NOTE: This post includes affiliate links, which, if clicked on and a product purchased, I get a small commission (with no increase in cost to you)