Today’s guest post is from Michael Koploy, Analyst at Software Advice.
E-commerce is one of the fastest growing retail segments, and its growth is only expected to escalate over the next 5 years. Sucharita Mulpuru, Analyst at Forrester Research, projects that online shopping is expected to increase 45 percent over the next 5 years, reaching $327 billion by 2016.
While companies like Amazon and Zappos will benefit from the increasing number of consumers that would prefer to shop online, this also opens the door to small business owners that want to move their operation online or entrepreneurs that are looking to get their foot into the e-commerce door.
For those opening an online storefront for the first time, it’s important to think of your e-commerce business like a traditional retail store. You’ll have to bring customers to your online storefront through great marketing campaigns, build an excellent website to convert visitors, and build a rapport with excellent customer service, if needed. Unlike brick-and-mortar retail, however, is the need for excellent order fulfillment. Sloppily fulfilling orders can lead to errantly shipped packages or damaged goods that turn first-time shoppers into last-time customers. Continue reading