There has been a recent unfortunate rise in the unemployment trend in the US in recent years. Unfortunately, the outbreak of COVID-19 has done very little to improve the situation; instead, it led to a staggering increase in unemployment stats, with most companies being affected by the pandemic and its effect. However, eCommerce has not suffered as much. Some brands report high sales, which they only get during Black Friday discounts. This is understandable because many people are locked in their homes or quarantined. Hence, most people only purchase what they need from online stores since they can’t go out physically.
It is worth noting that some niche has experienced a massive spike in sales during this period, such as those into health supplements, athleisure, kitchenware, and exercise equipment. So if you’re one of the millions of people without a job, whether you lost your job recently due to COVID or you’ve been out of a job for longer, you should consider the numerous solution providers that make it possible to create an online business overnight.
eCommerce is the solution.
Many people fail to understand the processes involved in creating and converting an idea into an eCommerce business with inflowing sales. According to Nick Peroni, a contributor at uk.bestessays.com, and founder of Ecom Empires, creating and growing an online business can be straightforward. However, many find it difficult because they don’t understand how to convert their ideas into online income appropriately. He has been able to scale his eCommerce store to generate a revenue of over $21,000 within three weeks.
Many people within the eCommerce industry, like Peroni, are stepping up and trying to provide others with the necessary resources, tools, and data to help unemployed people start an online business, especially those laid off recently.
Getting Started in eCommerce
As you would imagine, it is easy to start an eCommerce business, especially with the aid coming from seasoned eCommerce entrepreneurs to help those new in the industry. For instance, Nathan Resnick (founder of Sourcify) launched a Product Sourcing School to teach people everything they should know about bringing their product to the market. As a result, according to Resnick, Sourcify experienced a signup increase of around 30 percent. New users are getting an action-takers scholarship so that people in need can find help.
This is the kind of stewardship that’s in high demand these days. For instance, many questions pop up when thinking about manufacturing a product. You ask yourself questions about ensuring quality control for the product, finding a reliable factory, importing materials and selling the products, etc.
It is also worth mentioning that many other individuals and brands within the eCommerce industry also offer significant discounts and extend free trials to help people learn how to promote and sell their products online.
For instance, Shopify, a host to over a hundred thousand online stores, extended its free trial period by three times from 30 to 90 days. In another instance, Chase Hero, which created the Watchers community, also extended its offer to join the Ecommerce Launchpad for $1 only to support others during these difficult times. Their brands are now experiencing an upturn in sales more than before, and the cost of Google and Facebook ads has become far more affordable than usual.
As a first-timer, you have the perfect storm to launch your company because eCommerce mainly requires your ad expenses and the goods you want to sell. So this will allow you to get customers more prudently, and you can effectively bring your products to life.
Other online service providers, such as ShipBob, a third-party logistics company, provide real-time details on shipping trends. This company uses the eCommerce businesses’ fulfillment centers to categorize the products into different niches, such as beauty and fitness, to know the currently trending goods.
According to their data, fitness sales from these eCommerce stores increased by over 51 percent within a few months, whereas jewelry sales went down by 39 percent within the same period. So, it’s not enough to go into eCommerce entrepreneurship. You must read the times and know what’s trending.
Suppose you want to start your eCommerce business and find your way in this industry. In that case, you must consider the current data and analyze the best category to focus on. Although normalcy will be restored in the long run, since you’re looking for a source of income after being laid off, you should set up your business in a niche or category currently experiencing a sales spike.
History proves to us that recession is the basis for building many fortunes. The foundation for this is e-commerce entrepreneurship in our world now, mainly because it’s easy to access the necessary tools to start now.
Justin Osborne is a writer at uk.bestessays.com; he loves sharing his thoughts and opinions about education, writing, and blogging with others on different blogs and forums. He works as a content marketer at the best essay writing service.