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How Much Money Can You Make With an Ecommerce Store?

 E-stores occupy the largest market share in the world of e-commerce, and the change in purchasing habits affected by technological development has made them the first kiss for shoppers. Accordingly, online stores have added new opportunities for brands and entrepreneurs, thus multiplying their types and methods for enhancing profits. What are the most prominent of these methods and types?

What are e-stores?

In short, an online store is the website or application that allows customers to buy and pay online, browsing ordered products digitally. The characteristics of e-stores do not stop at the online purchase feature, but rather go beyond having a customized experience for users with the ability to search and browse products and add to the wish list or basket for later reference. Besides, there are other competitive features, such as offers and rewards.

What is the difference between an online store and a website?

Every online store is a website, but not every website is a store. Both are collections of pages linked to each other and stored on a particular server. But the website does not contain online purchase services, it may be a news site, a company’s website to highlight its identity and show its services, a social networking site, a site specialized in displaying pictures, and many more examples.

Advantages of online stores

There are many advantages offered by online stores to the owners of companies and projects, most notably the following:

1. Profit potential around the clock

By creating an online store for your business, you can get profits at any time of the day, there are no specific business hours or specific times for purchase. The customer can easily access and browse your online store from anywhere and at any time, whether it is during his work hours outside the home, or even before he sleeps.

2. A wide range of customers

Having your store on the web enables you to reach a wide range of customers, without being restricted to a specific geographic area. In addition, the ways to reach your audience are diverse, so you reach them through search engines, which statistics indicate that they are the first source that 80% of consumers resort to before shopping, social media platforms, or through advertisements on sites, and so on.

3. Keeping abreast of future trends

Did you know that studies and insights indicate that the percentage of online purchases will rise to 95% by 2040? This study shows how important the trend towards e-commerce is now. To be able to build a professional identity that attracts the largest possible base, and keeps pace with current and future customer preferences as well.

Types of online stores

In general, online stores are divided into two main categories, namely:

e-market platforms

This type of store brings together a large group of sellers and retailers on one site, and is affiliated with a third party with a huge number of audience, such as Amazon and eBay.

When you subscribe to the online marketplace as a seller, you will not be responsible for the logistics of shipping and delivery, nor for the repair of malfunctions that may occur on the site. All you have to do is pay a membership to become an official seller, add your products on the platform and get paid whenever you get a selling opportunity.

Single Brand Stores

The online store in this case is for one company or brand only, such as the SHEIN store and the Adidas website that sells various products produced by the company exclusively. Here you will need to develop a store dedicated to your brand, you may turn to a developer who will develop it for you from scratch, or you can create it via e-commerce platforms such as WooCommerce , in both cases, you are responsible for the regular maintenance of the site.

Despite the multiple costs involved here, such as operational and technical costs and launch expenses, you will be able to create a distinctive and customized experience for your customers, choosing the design that expresses your brand, and defines the user experience that meets the needs and preferences of your target audience. Also, this type will make you stand alone on the platform with your products, without many competitors offering similar products and competitive prices.

To get a professional online store that represents your brand in particular, use one of the e-store development services provided by a group of Arab developers on the Khamsat platform.

7 Tips to Increase Your Online Store's Profits

Launching an online store does not mean ensuring more profits for your brand, there must be several strategies to help you increase the chance of achieving more purchase opportunities. Here are some of the most important tips to increase the profits of online stores:

1. Take care of your store design on different screens

Your customers may prefer to buy your products on their PC, sometimes on their phone, or even on an iPad. All of these devices differ in the sizes of their screens, and not paying attention to it will disrupt the appearance of your store, as the details of their interfaces appear small on phone screens, for example. This will inevitably affect the likelihood of a purchase negatively, as the user will not be able to carefully browse the store and will leave it immediately.

2. Provide a unique and easy to use experience

The most recent studies indicated that 88% of consumers leave the site due to a poor user experience. From here, you should ensure that you provide an easy-to-use experience that avoids the difficulty of understanding the user, so that he or she can shop in your store smoothly and comfortably.

To achieve a clear user experience, distribute the contents of your store well, do not put all the products on one page, but rather categorize them all to be added in specific sections, and add a search box to speed up the user's access to what he wants. Also consider the clarity of the design interfaces by making the main elements prominent and easy to click and understand directly, adding guidance phrases whenever necessary to avoid any confusion in the mind of the user.

3. Adopt a strong marketing strategy

An online store, like a traditional store, needs a good marketing strategy to attract customers. This strategy includes marketing with content that interests your customers and increasing your store visits with SEO. In addition to other marketing strategies that include various electronic means, such as email and social networking sites, that increase user interaction.

In this regard, you will find a wide range of e-marketing services on Fiverr, choose the one that suits you best; To ensure the development of a strong strategy with the help of those with the necessary expertise.

4. Understand shoppers' behavior

Sometimes cart abandonment rates reach 80%, which means it's important to understand shoppers' behavior and the reasons why they leave your store and leave the products they chose without completing the purchase. The types of online shoppers fall into three main types:

Type 1: Price-Affected Shoppers

There is no doubt that most shoppers tend to bargain, so the possibility of switching from your store to another store increases because of a better price. Usually the price is the key when you buy here, then free or discount shipping and promotions. Accordingly, try to provide these strategies in your store from time to time to create an attractive competitive advantage .

The second type: those who look forward to everything new

This type of shopper is looking for everything new to buy first before friends and acquaintances. You can acquire this segment by constantly updating your store with new products, then telling them directly everything new via email or by posting on social media, and placing the new products at the beginning of the main interface.

The third type: Shopper Researcher

The Research Shopper scrutinizes everything, gathering information and reviews of each product before making a purchase. So, provide your store with adequate information about each product, in terms of features, details, and the mechanism of use, and add the reviews feature to get a realistic visualization. It is also important to provide ongoing technical support or live chat to answer any questions they may have.

5. Take advantage of the data

Customer data helps you understand their preferences, analyze when to buy and which products they like and search for. Use this valuable information to create a personalized experience, displaying products that match the customer's requirements in their main interface, giving them recommendations similar to products they previously purchased, and emailing them to them to browse directly. This will increase the chance of making a purchase.

6. Add interactive chat feature

The live and interactive chat becomes an actual salesperson in virtual reality, answering users' inquiries within seconds, and interacting with them directly to enhance their desire to buy.

7. Explain the method of delivery and return

The customer needs to feel confident and reassured to make a purchase on the electronic stores, in this case he will be assisted by a clear and integrated policy on the method of shipping, and the time that the product will take to arrive. In addition to the return policy, some customers may withdraw from the idea of ​​​​purchasing for fear that the product is not suitable.

In conclusion, online stores have become a trend for many commercial activities, because of their advantages and promising profit opportunities. So take care of the professionalism of your store, the competition is fierce, and with the right planning and the best necessary resources, you will be able to launch a distinguished online store.