E-commerce Entrepreneurship Flourishes as Unemployment Rates Spike
For a fact, the rate of unemployment in America has reached overwhelming levels. More and more Americans have lost and will lose their jobs due to the impact of the COVID-19 pandemic. Despite the odds, there still are a growing number of businesses that have taken over the market by storm and are showing tremendous growth ranks.
Many of these companies are heavily dependent on e-commerce and have recorded more sales during this pandemic than ever before. Global situation reports have got Americans staying indoors and as a result, they are fully engaging e-commerce. From fitness equipment to tools to fuel newly discovered talents and hobbies, e-commerce brands are shipping out products and services to customers round the clock.
Have you recently lost your job due to the effect of the pandemic? The e-commerce sector is teeming with opportunities. By harnessing its promising potential, you can change your employment status in one night. Let’s introduce you to e-commerce. Who knows? This might be your opportunity to make the most out of the pandemic.
Introduction to E-commerce
E-commerce is not and has never been rocket science. There are companies without a physical address that generate more revenue than those with multiple stores. The process is pretty straightforward. Ecom Empires founder, Nick Peroni, shares a similar belief. In less than three weeks, Mr Peroni scaled up his e-commerce store to be worth $21,000 in income. He shares his success secrets in this video. A lot of people have yet to harness the latent power of online marketing. Thankfully, e-commerce business owners are readily providing recently unemployed Americans with all the tips and tricks they need to succeed in the e-commerce industry.
E-commerce? What Next?
The next best step after learning how powerful the industry is is to take time out to understand it. This includes getting the essential tools and resources to ease the journey. You will also need to know what niches generate the most revenue. Some e-commerce companies provide this service.
E-commerce business owners are also providing help for the unemployed. A Product Sourcing School was recently launched by Sourcify to give extensive tips on product introduction to an online audience. The founder, Nathan Resnik, confirmed in an email dialogue that the number of new students taking courses on e-commerce product sourcing has spiked by 30%. Sourcify is also doing the best they can by giving its new users various scholarships.
Companies like Sourcify are helping new business owners find their feet. They understand that this new phase also comes with an endless pool of ‘how’ questions. How do you source materials? How do you choose your freight company? How do you ensure you get and produce the best products and services?
Already existing e-commerce industries willing to help new business owners are discounting their learning materials. People looking to sell online now have access to a pool of resources for almost no cost. Major stores and companies are now offering free trials and major discounts on all services.
Getting Your Brand Out There
There has been no better time in the history of e-commerce to build an online presence than now. Online advertising used to be costly, but in recent times, running ads on Facebook and Google have become more affordable. Now, new business owners only have to worry about selling their products and other running expenses. Customer securing has never been easier. From the comfort of your home work station, you can make your products and services available to millions of interested customers, even as a first-time e-business owner.
Knowing What Sells
With real-time statistics on freight trends, it is easier to see what products sell faster than which. ShipBob, a third-party logistics company, provides this information and more. They categorize trends into niches like kitchen equipment, training equipment, and beauty supplies. In over a month, they saw that the sales of fitness equipment have grown by half the normal rate and the sales of other products like ornaments have dropped down drastically in the same period.
If you’re venturing into e-commerce for the first time, choosing the right product and service to market in these times is important. Spend your time garnering resources that point you in the right direction. Also, take out time to study data from logistic companies on what products and services people are asking for in high demand.
It is crucial to build an online presence with a brand that offers services that many people are interested in. Income flows faster when you stop worrying about whom to sell to, but if you can meet up with the demand.
Niches like fitness, beauty, and camera gear have seen major sales spikes in recent times. Channel your energy into focusing on a much-needed service and enjoy the ease of e-commerce business.
The Final Step
After preparing a solid business plan and learning all you can about sustaining an e-commerce business, generating income and building a strong online presence, you will need to establish a brand. Choosing a name, theme, and feel to your online pages are just as important as planning the logistics. Customers will only see what you show them and you have to make your business worth their while.
Whether it be the manufacturing, wholesale or retail branch of e-commerce you plan on venturing into, taking time out to invest in your business and learning with and the available resources will be visible in the quality of products or services you render.
Don’t feel bad about losing your job due to the pandemic. Channel your energy and resources into starting a new one. It might be tricky and you might even get discouraged but it is always worth it in the end. Commit to being the best salesman in this period and you will be generously rewarded for your work.
With high hopes that the world will stabilize sooner or later, e-commerce enthusiasts are taking advantage of this period to make viable income. E-commerce is your much-needed foundation to go against the recessions and generate profits you never imagined was possible. Take the right steps today.