E-commerce websites – How your E-store can help you earn $$$$

e-Commerce, also known as e-Business,E-store/shop or electronic business, is simply the sale and purchase of services and goods over an electronic medium, like the Internet. It also involves electronically transferring data and funds between two or more parties. Simply put, it is online shopping as we commonly know it.

There are diverse online business sites for each field. The most well-known sort is retail offering, yet there are numerous others as well, similar to sell sites, business-to-business administrations, music entrances, consultancy sites, back administration sites, and so forth

There are two types of eCommerce websites:

1. > Regular Online Store- Like Adidas E-shop
2. > Multivendor eCommerce Store- Like Amazon, Alibaba etc

Multi-vendor and regular eCommerce stores have few properties that make
each of them suitable for certain audiences and sellers. There are
multifarious features that increase the overall scale of business as
well as profits and make multi-seller platforms a better option than a
single-seller store.

 

What is required to set my E-commerce shop ?

Now if you are reading the article above this must be the obvious question in every readers mind,So lets list what all is required to setup a ecommerce website.

Build Technology/Platform or CMS
First of all, we need to decide the platform or Technology which it is highly scalable & customizable to set up our website.The best eCommerce platform contenders
Shopify (www.shopify.com)
WooCommerce (www.woocommerce.com)
Magento (www.magento.com)
Bigcommerce (www.bigcommerce.com

Admin backend
A robust backend admin panel for dynamic & efficient user management, account management & content management.
Integrated payment gateway
Popular payment gateway like Stripe and PayPal, or any other preferred gateways that have multiple payment options, must be integrated into the eCommerce website for performing safe & secure online transactions.
Unique seller dashboard
The sellers must be given a unique dashboard to manage their products and delivery from this panel.
Physical/Digital products
We must have an option to upload any types of products on the website based on which the shipping methods and transactions are designed.
Native Android/iOS apps
Native Android & iOS Apps, which is regarded quite useful for users to search, place orders, & track their orders on the go.
Multiple revenue modes
Get the best out of your eCommerce business by setting up multiple revenue channels like featured listing and subscription model for a consistent revenue flow.

What is the monthly cost to own and operate an E-commerce basic website?

The monthly costs associated with a basic e-commerce website that is self-hosted can be as low as $5-$10 per month. Don’t go for the $1-$2 range as they are not very stable in my experience.

For Starters, Get the website built in WordPress Woocommerce or Opencart and ask the web developer to upload it on a web hosting account that you have purchased from companies like GoDaddy or any other hosting provider(I love Ipage which is cheap and provide very good customer support)

Still need any help? I would love to answer all your questions and help you setup your very own E-commerce store-  Reach me here 

Anchit Sood January 24th, 2019