A Guide to Launch an Online Store

1. AGuidetoLaunchan OnlineStore

2. Introduction

3. The eCommerce industry worldwide was valued at USD 9.09 trillion in the year 2019. It is expected to grow at a CAGR of approximately 14.7% from 2020-27. The growing infiltration of the internet is sustaining the smartphone using population across the globe. Financial services, digital content, and e-tailing are amongst other things that constitute a basket of eCommerce options available to the internet- accessing audience and are gaining momentum with increased usage of the internet. Companies have been inclined towards buying and selling goods or services through a B2B eCommerce platform and this pattern can be observed globally. Here, they set-up their eCommerce store, get help and support from their respective eCommerce solution and start selling their products. Businesses that prefer eCommerce platforms follow two models basically: the marketplace model or the direct model. The marketplace model is where companies sell products on a common platform alongside their competitors. The direct model involves the companies to set up their personal B2B platform and sell directly to the buyers.

4. ABeginner'sGuidetoLaunching anOnlineStore Launching an online store is not an easy job but it isn't a tedious one as well if you know what to do and whom to approach for support and assistance. The following would make it clear to all those who wish to open an eCommerce store for their businesses:

5. Select Your Niche What if you don't know what to sell but want to sell just because others are doing it too? This could be very costly though. One must always be ahead of time when it comes to selling products online. When you know the product which you are best at selling you can carry out other processes with ease. Due to the COVID pandemic and a sudden increase in the eCommerce sector, IT products would be a great choice for all those who are new to the business sector. Some examples could be computers and laptops, ink and toner cartridges, servers, and more. Choose the appropriate eCommerce Platform: Once you have decided upon the product which you will sell, it's time to choose where to sell the product. Selling via eminent marketplaces like Amazon, eBay, and Etsy could be beneficial. However, these should be thought of as marketing channels and not the sole means of selling. Whereas selling with the help of an eCommerce platform will ensure that you control your brand. If you are serious about starting an online store (which is believed to be a "Yes" as you are here), you would target the full functionality of an eCommerce platform that would help you slate your voice and marketing efforts.

6. Thefollowingaretobelooked atwheneveryouselectan eCommerceplatform: 1.Customized Pricing and Catalog Information: An important aspect of an eCommerce platform is the ability to customize. Hence, it should provide catalog and pricing information to the customer based on their log-in information. Doing this will streamline the process, making buying much more easier and efficient. 2. PunchOut: The eCommerce platform must provide PunchOut integration support. PunchOut catalogs provide a buyer with access to the supplier's catalog from within their e-Procurement framework application. This leads to the buying and selling process being automated, leading to much more efficiency and accuracy since human intervention is lessened. 3. Integration: Integration with CRM and other third-party applications like ERP, CMS, accounting software, and more streamline the entire business cycle and make sure the business development graph shows an upward trend. 4. Branding: Everything in business revolves around branding. How well can you position your brand in the customer's mind is what makes a business a great one. If the buying and selling process is automated, other functions or aspects of your business are running smooth, pricing is fair, and most importantly if the customer is returning it means you have succeeded. Select a Distributor Having connections with the appropriate distributor can be very crucial for anyone who wishes to open an online store and enter the eCommerce business. Always go with the one that provides the dropshipping facility and supports distributor catalog integration.

7. The dropshipping facility would make sure that you do not need to take the burden of storing inventory as the product would be shipped to the customer directly from the distributor's end. The distributor catalog integration support will make sure that all the catalog and pricing-related information is updated in real-time and the process is automated, having very little human intervention, and hence, fewer chances of errors. Setting up payment gateway and payouts Next, you must be clear with the various payment methods which your business will accept. Payment Gateways are how you collect money from the customers. Usually, the eCommerce platform you select will provide you with the ideal gateways which work with their system. All being said, you want to have a payment gateway that helps increase your business opportunity, and not be the reason for its decrease. Customer Service and Maintenance Just following the aforementioned, and setting up your online store with rich product content, lucrative offers, and marketing won't be enough. The customer is god and every business revolves around the customer. These two phrases should be enough to make you understand just how crucial customer service is (be it supporting the customer throughout the buying process or after-sales service). Customer service, along with proper maintenance and management of the store and the back-end processes is what will lead to a successful eCommerce business.

8. Conclusion For those who own a brick and mortar store, it would be very beneficial to have their online eCommerce store because not only will it double and triple their business development and growth opportunities, it would also make their brand go from a local name to a global one. And for those who do not have a business, this is a great opportunity to build an eCommerce store and start selling products online and witness the growth opportunities that await you. Hence, get partnered with a top-notch eCommerce platform that can make a customized store for your business according to your needs and requirements, and watch your business prosper with ease and comfort.