Flevy Blog is an online business magazine covering Business Strategies, Business Theories, & Business Stories.

5 Tips for Retailers Starting an Ecommerce Store

Editor's Note: Take a look at our featured best practice, Retail Strategy: IT Cost Management (22-slide PowerPoint presentation). Weak consumer spending; saturated markets; increased consumers demands for service and lower prices; and intense competition has put significant strain on Retail bottom lines and growth avenues. Such low margins force the Retailers to save costs across the operations, including IT, which is vital [read more]

* * * *

Are you a successful business owner thinking about expansion? Why not increase your sales by starting your own ecommerce business? Buying and selling goods online has become an enormous industry in recent years so it is easy to see why so many people are setting up online stores. However, it is not an easy industry to survive in; the market is flooded with competitors and therefore it can feel impossible to get people to your store and then convert them into customers. You must know how to succeed in the ecommerce industry and there are a few handy tips which should help when starting your own ecommerce store.

1. Get a Website Professionally Designed

There is nothing more important than your website, so it is worth using the services of a professional web designer. It should be easy-to-use, up-to-date and attractive with high-quality images, customer reviews and fast speeds so that you can easily convert visitors into customers.

2. Sell the Right Products

The key to success in the ecommerce industry is selling the right products. You might have a passion and interest in a certain area, but it will be hard to succeed if the products are not in demand. Instead, look into what products are trending and predicted to grow in the coming years and focus your efforts here. It is also helpful if you are able to provide a range of products which are all related in one way or another. If you sell exercise clothing, for example, then you could also sell protein powder, healthy snacks, water bottles and other related products.

3. Create Original Content

You will need to do more than simply sell trending products if you are to compete with the bigger brands in your industry. Creating original content is a smart way to promote your brand, increase your visibility online and show your expertise. Think about content which would be valuable for your target audience and then use a variety of mediums to engage your customers. This could include instructional videos, how-to guides, infographics and anything else which will be of value.

4. Use Demand Forecasting

It is important that you always have enough stock for your customers but equally you do not want to invest in too much inventory which you might not sell. A good way to strike the right balance is to use demand forecasting which will help you to figure out how much stock you need for different parts of the year based on previous sales.

5. Make Shipping a Priority

Modern day consumer expectations have changed in recent times and now it is essential that you can provide a good shipping process. You should have a few options available and make sure that shipments are fast, affordable and reliable. Otherwise, you will struggle to retain customers and develop a negative reputation.

If you are considering starting your own ecommerce business, then keep these tips in mind when setting up. There is the potential for success, but you must always be aware of just how competitive it can be online.

44-slide PowerPoint presentation
The e-commerce market continues to grow exponentially. More consumers are opting for the convenience of online shopping. This trend has been accelerated by COVID-19. The future of e-commerce is Omni-channel Retailing. A single channel is no longer enough. The challenge is to find a seamless [read more]

Do You Want to Implement Business Best Practices?

You can download in-depth presentations on Retail Industry and 100s of management topics from the FlevyPro Library. FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.

For even more best practices available on Flevy, have a look at our top 100 lists:

These best practices are of the same as those leveraged by top-tier management consulting firms, like McKinsey, BCG, Bain, and Accenture. Improve the growth and efficiency of your organization by utilizing these best practice frameworks, templates, and tools. Most were developed by seasoned executives and consultants with over 20+ years of experience.

Readers of This Article Are Interested in These Resources

103-slide PowerPoint presentation
This presentation is a report for a global electronics firm which was executing a digital growth strategy in the US. Although it had great products and a rejuvenated brand, the firm lacked a good understanding of the retail channel and thus lacked a channel strategy and relevant capabilities to [read more]

Excel workbook
Excel workbook

About Shane Avron

Shane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.

Complimentary Business Training Guides

Many companies develop robust strategies, but struggle with operationalizing their strategies into implementable steps. This presentation from flevy introduces 12 powerful business frameworks spanning both Strategy Development and Strategy Execution. [Learn more]

  This 48-page whitepaper, authored by consultancy Envisioning, provides the frameworks, tools, and insights needed to manage serious Change—under the backdrop of the business lifecycle. These lifecycle stages are each marked by distinct attributes, challenges, and behaviors. [Learn more]

We've developed a very comprehensive collection of Strategy & Transformation PowerPoint templates for you to use in your own business presentations, spanning topics from Growth Strategy to Brand Development to Innovation to Customer Experience to Strategic Management. [Learn more]

  We have compiled a collection of 10 Lean Six Sigma templates (Excel) and Operational Excellence guides (PowerPoint) by a multitude of LSS experts. These tools cover topics including 8 Disciplines (8D), 5 Why's, 7 Wastes, Value Stream Mapping (VSM), and DMAIC. [Learn more]
Recent Articles by Corporate Function






The Flevy Business Blog (https://flevy.com/blog) is a leading source of information on business strategies, business theories, and business stories. Most of our articles are authored by management consultants and industry executives with over 20 years of experience.

Flevy (https://flevy.com) is the marketplace for business best practices, such as management frameworks, presentation templates, and financial models. Our best practice documents are of the same caliber as those produced by top-tier consulting firms (like McKinsey, Bain, Accenture, BCG, and Deloitte) and used by Fortune 100 organizations. Learn more about Flevy here.

Connect with Flevy:


About Flevy.com   /   Terms   /   Privacy Policy
© . Flevy LLC. All Rights Reserved.