Itâ€™s undeniable that having your eCommerce website has its benefits, but it comes along a few challenges. While itâ€™s one of the booming businesses due to its ease of access, you cannot guarantee success, especially if you are not fully prepared to create your eCommerce website.
Pro: You Are the Boss
It is undeniable that the most significant benefit of your eCommerce website is that you can operate it however you want. This is especially great for people who are using their eCommerce website as a side job to make extra money.
However, this can be a double-edged sword as you also have full responsibility for your eCommerce website. But if you think you have what it takes to start a side business, you can go for it and make more money.
Pro: Low Startup Costs
Gone are the days when having your website costs a lot. Nowadays, you can host your eCommerce website for as low as $17 a month on platforms like Wix eCommerce. Domains can range from $0.99 to $15 a year, and you can even get free for one year if you use platforms like Wix eCommerce. This is a small cost compared to the potential of how much you can earn with the right strategy.
Con: Existence of eCommerce Platforms
In the past decade, many retailer eCommerce websites such as Amazon, Etsy, and eBay have popped up and dominated the eCommerce business. While having your eCommerce website gives you full control, applying for a seller to the platforms mentioned can offer other benefits.
These platforms are much easier to use than creating your eCommerce website, especially if you are a beginner. However, you also lose a bit of control, such as how you want your website to look and feel. If youâ€™re a beginner, it might be better to start your online business journey on these platforms. But if you have a bit of experience, youâ€™re better off creating your online store.
Pro: Global Reach
With a physical store, your pool of customers is limited to the people in your area. But with an eCommerce site, you can have customers from all over the world. By building an eCommerce website and having the right strategy, you can make more money quickly.
Of course, you still want to have a strong presence in your local area to boost your income. But with the world at the tip of your fingertips, you can bring your business to greater heights.
Con: More Competition
While you have the potential to have a higher customer base, you also face a lot of competition when you want to start a business online. There are millions of people like you who have started a side business by creating an online store.
This means you have to create a better marketing strategy, which is the heart and soul of online businesses. By knowing more about how to market your products or services online, you can create better opportunities for your business to make more money.
Pro: A Lot of Online Resources
Did you come across something you are not familiar with? Donâ€™t worry, because there are thousands of online tutorials that can guide you through creating your eCommerce site. From simple things such as registering for Wix eCommerce to more complicated stuff like learning how to code HTML, your solutions are always one Google away.
Con: Setting Up Takes A Lot of Time and Effort
While you donâ€™t think about it that much, the accumulation of small things such as the color, font, and even logo you use can either help or ruin your business. This is all about how you present your company to people on the internet. These small factors allow users to gauge how trustworthy your eCommerce website is.
It takes a lot of time and effort to plan an eCommerce website. While you can change some of the aspects down the road, itâ€™s always a good idea to launch your website with a strong start.
Pro: After Setup, Things Are Easier
The good news is that the upkeep of an eCommerce website is much easier than creating one. After completing the setup process, you can focus on marketing strategies for your business. The beauty of having an eCommerce website is that you have everything right at the tip of your fingers. Thereâ€™s many services online that can fully automate your business while you do the barest minimum.
Of course, you still need to manage inventory, marketing, and other essential things in a business. But you no longer have to manage employees, do a daily inventory, and other things. You can even have bots on your website to assist your customer with their needs, so you donâ€™t have to hire salesladies or customer assistant specialists anymore.
Pro: All the Data You Need
You no longer have to do daily inventories as your eCommerce website can compute how many stocks you have left, and if you need to restock anything. Do you want to check which of your products sell the most? Thereâ€™s a lot of codes, programs, and services that you can take advantage of to create the set of data you need.
With this information, you can create a better strategy for your business. Typically, these data might take a while to get, and even then, it is subjected to human error and bias. But when a computer is doing all the work for you, all you need to do is analyze and strategize.
Thereâ€™s no denying that having an eCommerce site is a great thing, especially now that recent happenings have sped up the shift towards the online world. Thereâ€™s a lot of resources online that you can make use of, and itâ€™s much cheaper than a physical store. But if you are not prepared for the challenges up ahead, then you might end up wasting your capital on it. Before you take the first step in creating your eCommerce website, be sure that you have outweighed the pros and cons of being successful in your venture.