{"id":3151,"date":"2023-06-01T11:48:43","date_gmt":"2023-06-01T11:48:43","guid":{"rendered":"https:\/\/vitalij.michno.lt\/?p=3151"},"modified":"2023-06-01T11:56:09","modified_gmt":"2023-06-01T11:56:09","slug":"is-it-still-worth-creating-an-online-store","status":"publish","type":"post","link":"https:\/\/vitalij.michno.lt\/en\/articles\/website-creation\/online-shop\/is-it-still-worth-creating-an-online-store\/","title":{"rendered":"Is it still worth creating an online store?"},"content":{"rendered":"\n

Changing Trends in E-commerce<\/h2>\n\n\n\n

In today’s rapidly evolving digital landscape, many individuals considering a career change contemplate the idea of creating an online store. The shifting buying and consumption patterns in the online market have captured the attention of aspiring entrepreneurs. Furthermore, the remarkable surge in global sales and e-commerce transactions has spurred a growing number of people to venture into the realm of virtual stores. It’s not just career changers; even established brick-and-mortar retail giants like Walmart have recognized the value of establishing an online presence to cater to their customers. This raises an important question: Is creating an online store still a viable option?<\/p>\n\n\n\n

In this article, we will address the main concerns of those contemplating opening an e-commerce business and assess whether it remains a worthwhile pursuit.<\/p>\n\n\n\n

The Evolution of Online Stores<\/h2>\n\n\n\n

The origins of online shopping and sales can be traced back to the late 1970s when English inventor Michael Aldrich developed an online transaction processing system. Over time, this system evolved into what we now know as e-commerce and online payment methods. However, it was in the 1990s that online sales gained significant traction, thanks to the emergence of major companies like Amazon, Pizza Hut, and American banks.<\/p>\n\n\n\n

The growth witnessed in this sector over a relatively short period was beyond anyone’s imagination. For instance, Amazon alone generated a staggering $46.37 billion in online sales of physical goods, not to mention digital products. But with such rapid growth, has the profitability of online stores diminished or reached a saturation point? Let’s explore this and other related questions.<\/p>\n\n\n\n

Is the Niche Saturated?<\/h2>\n\n\n\n

Given that almost three decades have passed since the inception of e-commerce, one might assume that this niche has become oversaturated and highly exploited. While it’s true that there are numerous players in the market, especially in popular sectors such as clothing, cosmetics, perfumery, and books, there is still room for innovation and differentiation. If you’re considering creating an online store, it’s crucial to offer something unique and stand out from the competition. People are drawn to novelty, and replicating existing models may not yield the desired results. To help you in this endeavor, we have shared some ideas on how to innovate within a saturated niche.<\/p>\n\n\n\n

The Competitive Market<\/h2>\n\n\n\n

As mentioned earlier, the ever-changing landscape of consumer behavior has sparked an interest among entrepreneurs to invest in the online marketplace. Consequently, both small-scale businesses and large corporations have recognized the advantages of expanding their operations to include e-commerce. While established brands may already enjoy success in their physical stores, they understand the potential offered by the virtual realm and have established a strong online presence.<\/p>\n\n\n\n

Considering the competition, it’s important to bear in mind that your online store will be pitted against major brands with global recognition. Does this mean the market is fiercely competitive? Yes. However, by targeting your products effectively towards a specific audience, you can carve out a niche and thrive in your online venture. If you’re uncertain about identifying the right market niche, we recommend reading our post on micro niches.<\/p>\n\n\n\n

The Importance of Planning<\/h2>\n\n\n\n

Before embarking on any new business venture, it’s essential to be prepared for the various challenges that may arise. Starting an online store does not exempt you from the need for careful financial planning. From the outset, you will incur expenses, and it’s crucial to avoid the misconception that launching a virtual store is a quick and effortless process.<\/p>\n\n\n\n

One common pitfall for new online stores is neglecting the planning phase. Some individuals view online stores as an alternative to traditional employment, failing to adequately plan and strategize for their new venture. Consequently, these stores fail to achieve the expected success. Therefore, meticulous planning is indispensable to ensure the viability and prosperity of your online store.<\/p>\n\n\n\n

The Pros and Cons of Creating an Online Store<\/h2>\n\n\n\n

Now, let’s examine the advantages and disadvantages of creating an online store:<\/p>\n\n\n\n

The Pros:<\/h3>\n\n\n\n