According to Statista, 67% of millennials and more than 50% of Gen Xers are using online shopping as their main platform if they want to buy something. I think that this is borne out of the need for convenience since people are quite busy now in that they do not have the time to visit physical stores anymore.
That being said, one of the main questions that people ask is if you can build your own e-commerce store on a tight budget. Well, the resounding answer is yes, but it will require a lot of time for you to brainstorm about the product you’re going to sell, as well as shipping the products to your sellers.
In this article, I will talk about ways you can start your own e-commerce business through ecommerce solution provider even when you’re on a shoestring budget.
But before I go ahead and impart some tips, a little word about dropshipping. Typically, you would have to have your own warehouse to house your products, but this can be quite costly. That is why dropshipping exists.
The idea is to have your products shipped directly to your customer but that your products are actually not in your possession. The products will be shipped directly from your supplier by using a courier service. This is a much more convenient way for you to ship your products- all while the product is not in your possession.
With that out of the way, here are some tips to help you build your own e-commerce business even on a tight a budget:
Choosing the Right Platform
For you to run an online business, you need to choose the right online platform as well. There are plenty of them out there that you can choose from, but for the purpose of this article, I will only use Shopify as an example since it is the most flexible and affordable platform for new entrepreneurs.
When creating an account on Shopify, you will then be given the ability to tweak your own website using their pre-built settings. It is just a matter of clicking at this point.
What I love about Shopify is that it gives you the ability to sell products without any prior technical knowledge. Everything is labeled correctly and you can use the right functionality just by clicking on it.
Configure Various Payment Methods
Now that you have your platform in place, what you need to do is set up your payment scheme. I highly recommend that you support all major credit cards since this is most likely the option that people will take.
Aside from that, you can choose other major payment options, including Paypal, GoCoin, Coinbase, PayDollar, BitPay, and a host of others.
Build a Social Presence
Now that you’ve pretty much created your own online platform, you will then need to market your business.
Since you’re working on a tight budget, I suggest that you start marketing your business on social media platforms. They are free and even the premium options are quite affordable.
Build a social presence by creating your business’ own social media page. Amass some followers to help build credibility. Include high-quality photos and even other forms of media as well to help entice people to buy from you.
And while you’re at it, I suggest that you use Shopify’s own blogging platform to help drive in more leads.