It’s ironic, but the growth of e-commerce has been both a good thing and a bad thing for online retailers. On the positive side, buyers are more comfortable than ever when it comes to looking for items – and ultimately buying them – over the Internet. In fact, millions of people regularly shop for all kinds of products from their smart phones and tablets, making e-commerce more accessible than ever.
On the other hand, though, this e-commerce explosion has invited more competitors. And so, the question every business owner should ask him or herself is: What makes your online store different from the others your customers will find online?
There are literally dozens of good answers to this question, but here are some things you might be able to offer:
Lower prices. If you can sell cheaper than everyone else, there’ll always be a segment of the market that will love you for it. Beware overseas companies and bulk-buyers, however, as it can be easy for them to undercut your low prices.
Better service. Just as some buyers will always look for the least expensive option, others will always seek out the highest quality or best service. If you can offer either one, then you could become the premium retailer of choice.
Unique products. One of the oldest (and best) advantages your business can have is a unique set of products or services. Sell what no one else can, or will, and you might find a profitable niche that can’t be duplicated.
Customer reviews. Some e-commerce sites succeed not because they are the biggest or the best on their own, but because they have communities of buyers who share information with one another. Could you do the same?