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E-commerce, is it really profitable?

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Comments

  • Dennis L.Dennis L. subscriber Posts: 25 Bronze Level Member
    @Kjeldsen

    It is possible to make a decent return from e-commerce. There is no standard rule how you run an e-commerce. I worked with 2 e-commerce clients by consulting and implementing digital marketing strategy.

    One of the important factors for e-commerce success is marketing investment. How much to spend depends on your expectations and timeline.

    No matter what you sell, if you want your e-commerce site to have at least 10 orders every single day within a year, the digital marketing investment should be 1k to 3k USD per month. And also depends on the online competitions.

    The numbers from my experiences that worked with client e-commerce marketing. Hope it gives you some ideas on e-commerce.

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  • Adam JonesAdam Jones subscriber Posts: 124 Silver Level Member
    Of course, Yes! The Internet Ticketing business of IRCTC (apart from Catering, Tourism online gifting (flowers, cakes, etc.) is supposed to be very profitable, though I don't have data to support my case, because of the huge profit margins.
  • charucharu subscriber Posts: 27 Bronze Level Member
    edited October 2017
    Yes, i agree with your points. But in addition to this i think the role of logistics services is very important. Ecommerce supply chain has made a major contribution to the success of e commerce business. Thanks for sharing your tips. 
  • AnkitKapAnkitKap subscriber Posts: 5 Member
    Yes, eCommerce is nowadays a fruitful, because of its great advantages, people are taking their businesses online.
    Major benefits:
    1. You can target global market with just one website
    2. The ability to shop from multiple devices, such as PCs, laptops, tablets, and smartphones have only popularized online shopping. Considering the huge demand for online shopping sites, many businesses are drawn to the online sphere and are venturing into e-commerce.
    3. Consumers are increasingly being drawn to the usability of online shopping. This new means of shopping has enabled the customers to literally have power in their hands. They can now look for the best products, buy the best brands and also get great discounts and offers.
    4. The ability to shop from multiple devices, such as PCs, laptops, tablets, and smartphones have only popularized online shopping. Considering the huge demand.
    5. Reduction in Cost of managing their inventory of goods that they can automate the inventory management using web-based management system.
    6. You can easily keep a constant eye on consumers’ buying habits and interests to tailors their offer suit to consumers’ requirements.
    7. Setting-up cost is extremely low as compare to expanding your business with more brick and mortar locations.
    8. Very few licenses and permits are required to start-up an online business than physical store. You can save your lots of money by using fewer employees to perform operations like billing customers, managing inventory and more.
    The E-commerce website development or online store development industry is booming at a rapid rate nowadays due to an increased number of online customers. In fact, online shopping is a great trend now these days. Every other retailer who is having their stores in push locations of different countries want to own an E-commerce website or an online store for their business.

    If you're interested in getting your eCommerce store, you may contact these renowned and established ecommerce development companies from around the globe. These companies have good customer reviews and Google Rankings.
    1. PixelCrayons
    2. Oxagile
    3. Magneto IT Solutions
    4. AppSquadz Technologies Pvt. Ltd.
    5. ValueCoders

  • Olivia CaitlinOlivia Caitlin subscriber Posts: 26 Bronze Level Member
    Yes sure you should carefully step in as you are investing all of your hard earned money into the business. The e-commerce is booming but with every single day the profit margins are decreasing. because of intense competition. for some this business is the biggest nightmare and they lot everything. so you should carefully Plan everything and must have a backup plan. 
  • PulsarrPulsarr subscriber Posts: 89 Silver Level Member
    I think yes. I have bike shop and want to create online website for my customers. It will bring menay benefits for me, including profit. I will start with Wordpress with premium template https://www.templatemonster.com/category/bike-shop-wordpress-themes/ Montaina. It has great design and good functionality. 
  • LogicJoshLogicJosh subscriber Posts: 12 Bronze Level Member
    From my experience, it's profitable. After a while. You need to put in a lot of work and money in order for you to start making money off of it. You'll be losing more money than making money in the beginning.
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