The COVID-19 pandemic has turned the world upside down. Currently, in some parts of the world, there’s still some movement restriction or lockdown, and more people are now working from home than ever before. That means people are trapped at home, and we now have a whole lot more time on our hands.
We still have 24hrs a day, though. So, nothing has changed there. But, while we’re trapped at home, many people see it as a golden chance to launch a new project, like an online business. And, what kind of business will sell more during this day and age? That’s right, an eCommerce business!
Why is it a great time to start an eCommerce business?
One major reason that stands out is that more people are now buying their groceries and other supplies online. If this wasn’t reason enough to start an ecommerce site, just take a moment to look at the changing environment, shipping, and business practices around the world. Before the COVID-19 pandemic struck, people mostly shopped online for clothes, shoes, gadgets, etc.
But now, people are buying anything from tissues to hand sanitizers to food, and more (virtually everything), because of movement restrictions and fear of contracting the virus.
Keep reading to know why starting an online business is a good idea right now.
IMAGE: UNSPLASH
New Shopping Habits
As explained above, because of the quarantine, the way consumers purchase things has shifted.
When the physical stores open again, people will go out more. However, it does not mean that they will completely ignore the very addictive, cozy feeling of shopping online. Therefore, these trends will continue for a long time – which means more money for eCommerce businesses.
Because COVID-19 fears aren’t going to disappear overnight, here is why people will keep patronizing online businesses.
- People will be cautious even after the quarantine and lockdowns end, and many will prefer shopping from their homes’ safety.
- Also, the exponential rise of mobile devices makes searching and shopping online simpler than ever before.
- While some goods were unavailable in physical stores, there were options for buying those items online.
- From the beginning, ease, large selection, and savings have spurred online shopping. As eCommerce becomes more popular and competitive, this will continue exponentially.
Now, let’s discuss what you should consider before deciding whether or not to launch your own online business.
It’s Anyone’s Game
For everyone, this global pandemic has changed the nature of work and personal life. The change has created gaps and exposed outdated structures. Therefore, it’s anybody’s game now!
To get things done, you no longer need a ton of money and an army of workers. With a small, efficient team, maneuvering your industry and providing value, you can be nimble.
Families are going through a transition between jobs and children at home that is affecting their everyday needs. And singles are seeking new ways to be connected with friends and meet new people digitally. There is now the potential to find a new niche for online businesses that can solve these people’s problems while they are stuck at home.
The gaps are everywhere, and there is high motivation for change across all sectors. The pandemic has presented us with a perfect storm for innovation and progress.
There Is Currently A Pool Of Talent In The Market
A lot of good talent that will otherwise be scarce is now on the market with current economic changes and firms struggling. During the financial crisis, profitable businesses such as Apple and Google recruited actively, and they are doing so again.
Individuals are searching for new opportunities, many with an open mind and a desire to disrupt industries. Some freelancers can fulfill the company’s temporary needs, while full-time talent can help create the robust team you have always dreamed about.
Moreover, with remote jobs, you are no longer limited by location. You can now work with a reservoir of talents across the board. You can extend your locations to draw the world’s best talents to help you establish your online business.
Services Are Cheaper
You would need access to services, training materials, and suppliers to supply you with systems to make your online business more effective while you develop your company. You have access to sites like Mailchimp and Zoho if you need to simplify your e-mail marketing. Services like Canva are available if you need assistance with designing your social media.
All of these firms offer promotional pricing. Several forums and blogs now offer educational material for free on digital marketing and client acquisition to help businesses grow.
It is also a great opportunity to take advantage of newly available small business offers on services such as online advertising and small business trials for team messaging and video conferencing apps.
There Will Be A Post COVID-19 Shift
This pandemic is not going to last forever (as much as it feels like it will). When the COVID-19 nightmare is over, companies that have made their businesses responsive to the current environment and adaptable to change will thrive.
As challenging and daunting as it has become, the pandemic can also be an incentive to prepare your chosen industry for the future. So, take time to reflect and adapt to the post-COVID-19 world.
This gives you useful lead time to build up your client list, improve your promotional campaign, and step up your social media game. And you’ll be able to enjoy the upward trend in the eCommerce niche for as long as possible.
Many businesses have been successful by starting in tough economic times. During a financial crisis, companies like Venmo, Whatsapp, and Uber were all created. And many others are discovering how to reach new audiences through the use of influencer marketing and social media.
With all of these new conditions and metrics in place, now is the time to start that online company you’ve always wanted.
Final Thoughts On How To Start Your Own Online Business
Some cities have relaxed the lockdown while some are easing into it gradually, but the future is still unclear, especially with new strains of COVID-19 discovered in several parts of the world.
Also, reopening physical businesses have limitations on social distancing, wearing masks, and restrictions on how many people can enter stores at a time. Therefore, by starting your online business now, you have a high chance of succeeding even after the pandemic is over.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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