Starting A New Ecommerce Shop

I had always rejected selling on e-commerce platforms such as ebay and the like. The first is the transaction fees which may be incurred, the second is the lack of control which I may have. The Chinese e-commerce site Taobao has also been known to take down sellers’ items without notice. Competitors on Taobao has also employed tactics to get each other’s items down.

I had decided to build a website for my own e-commerce store a long time ago. But it did not go well, partly due to my own laziness to promote and partly due to my own laziness to consistently put new things up. Recently I was advised by someone who read up about the success stories of e-commerce sellers on various platforms. These are not feel good stories about how to get rich fast or fluffy stuffs on buy cheap sell expensive that kinda thing. This stuff draws on how the seller analyze goods and how they attract customers.

One take away point would be to sell a few very cheap stuffs. By having a few very cheap stuff where you almost have little to no margin, you are able to attract customers into your shop. This will have the effect of driving traffic to your shop, and with the higher traffic comes the possibility of selling other stuff which are more expensive and have a higher margin. There was a real case study on a particular seller’s experience on why this is important but I shall not go into that.

I was hesitant at first because selling a lot of cheap stuffs will mean taking up my already little time to do my other things. But if I do nothing to improve my situation, it will never change, particularly more so since my business has dropped by about 70% in recent times. I have since then decided on the product scope and have started imported things. Not too many, but something small to start it off. I don’t believe in dumping 10k into a business and hope it will work. I am not a rich man and have to be more cautious when I deal with risk. Calculated risk yes, but not senseless risk.

When the new stocks enter, I will be listing it on various platforms as well as my own website.

Posted by pencil-leads

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