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[BEST BUSINESS OPPORTUNITY TODAY]: More Than 1.9 Billion People Are Going to Shop Online This Year and Spend More Than $3 Trillion!

It’s 2019. The internet is nearly everywhere, and more people are shopping online than ever before. eCommerce can not only get you in on the game but has a low barrier of entry to get started. Due to those reasons, eCommerce is considered one of the best business opportunity today. So, what are you waiting for?

Let’s check some numbers. In America, a person living out in remote, rural farmland typically spends five hours per week shopping online. Think for a moment. In America’s most far-out, disconnected, small towns, people are browsing online stores for almost an hour each weekday.

Parents – too busy taking care of children to go out shopping—are the most active online customers. Nearly half of parents in America shop online on a weekly or even daily basis – spending, on average, seven hours a week shopping online. Why do you think even grocery stores are getting in on the eCom game? Life as a parent is much easier when all daily shopping needs are accomplished at home.

In Europe, Mastercard ran a survey and found nearly half of United Kingdom citizens shopped online at least once a week, and 1 in 10 Europeans shop daily.

Moving further east, about 600 million people in China shopped online in 2018. That’s nearly half the population of that country! How about this? 1.92 billion people are going to make online purchases in 2019. That is 1 out of every 4 humans on the planet. And that number will only go up next year and years after.

Digital buyers worldwide, Statista.com

Why is that such a fantastic opportunity?

The key is the technology. It is changing the way we live our lives and shopping habits are not any exception. Computers and smart phones are not only working and communication devices, but more and more shopping devices. 

For people who live in small, isolated communities, it gives them a freedom that opens up their lives to the rest of the world. A girl in rural America can buy candy from Japan for her friends with a simple click on the phone. A man in Eastern Europe can purchase clothing from small designers in Argentina while having a coffee break. How amazing is that?

The first step to having a successful business is understanding how people shop. In today’s world, more and more customers are turning to the internet to spend money. Since the millennials are entering the eCommerce industry, that is not a surprise at all. Not only that they have money to spend, but their shopping habits are adjusted to new shopping era. 

More than 67% millennials spend money online

If more than 50% of baby boomers and generation X still buy things in brick and mortar stores, more than 67% millennials spend money online. That’s why it is not hard to believe that till 2040, around 95% of all purchases will be done via eCommerce (at the moment only 11,5 %). 

A successful eCom business takes notice of those numbers and trends above and uses people’s online behavior as a critical key to making revenue.

That being said, what kind of numbers are we looking at for successful eCom business?

How much money do you need to invest and what is a potential gain?

According to 2015 eCommerce growth benchmark, the average online store makes $63,000 in monthly revenue after three months of business. After one year? Over $120,000. That was in 2015. The average annual revenue per store in 2018 increased by more than double to $275,000.

That’s just the average. High performing sites have been known to make significantly more. For example, the guys from PuraVida bracelet are in eCommerce business from late 2010, and today they generate more than a million USD in revenue per month.

Even better, you don’t have to take a massive loan from the bank to jump into the business. The initial cost of getting started can sometimes be as low as $1,000 – $5,000. That’s a pretty low barrier of entry for such high potential gain.

A few years ago, when my brother and I build our first Shopify store, we invested ca. $10,000 and with that money store generated almost $60,000 in 30 days. I think that was an excellent ROI!

And yet eCommerce still has much more room to grow. Comparing to global retails sales, eCommerce is more than eight times smaller and covers only 11.5% of global retail (offline) sales! Think of all that potential!

With over $3 trillion being spent on eCom in 2019, now is the best time to get involved.

You don’t have to take my word for it, though. Check out some of these eCom success stories to see how much you could be making with your own products.

Allbirds

If you are on social media at all, you have probably seen Allbirds ads. In 2014 Tim Brown and Joey Zwillinger came together to make what Time Magazine has called the world’s most comfortable shoe

Their official launch was in 2016 after they gained an initial online foothold through a Kickstarter campaign. They have been so successful that their eCom site alone generates $1.3 million in revenue.

Their early success is due in large part to their eCommerce model. According to Zwillinger,

“Retailers are struggling. eCommerce has changed the way consumers interact with products and retailers, and so we wanted to do something direct-to-consumer and make it different and try to break through the noise with a great, comfortable product and do it only through our own website and our own stores,” (Source: footwearnews.com)

There you go. Straight from the CEO’s mouth, retailers are struggling, and eCom is the future. That was Allbirds key to success at the beginning.

That could be you.

PRESS

One reason many businesses do not consider eCommerce for their products and services is that their target market is local. They are not interested in reaching a global audience. Well, meet PRESS, king of cold-pressed juice and diet subscriptions in the UK. Their eCommerce store generates $43,600 in revenue per month.

PRESS uses the power of eCom to provide healthy cold-pressed juice subscriptions to their 60,000 customers each month. And here’s the thing, PRESS doesn’t use their online platform to try to reach a global audience, but they stick with UK-only customer base. 

Yet founders Georgie Reames and Ed Foy immediately saw the value in using an online service for their product. That’s what understanding your customers’ behavior can do for you.

Nomad

One of the best things about eCommerce is that you can run your online business from just about anywhere in the world. From Tokio to the Bahamas, as long as you have an internet connection and electricity, you can manage your online presence and earn money no matter where you are.

That is where Nomad, the last company I’ll talk about here, comes in. Nomad specializes in products that help you keep devices powered and protected on the go, anywhere in the world.

Another company that began as a Kickstarter campaign, Nomad’s first product was the ChargeCard – a USB charger the size of a credit card. After raising three times the requested amount of funding for the first product, Nomad has been making minimalist, durable, lightweight, and easily portable charging hubs, cables, and cases for devices.

Thanks to the power of eCom and Shopify, Nomad has been able to generate over $350,000 per month through their online store.

Having an eCommerce presence allows Nomad to sell their products in a way that fits their business philosophy and lets them interact directly with their customer base.

Should you join the ranks of these companies or not?

eCommerce is a booming industry, no doubt about it. There are thousands of companies, all just like the ones above, who have successfully used eCommerce to boost their bottom dollar.

Sure, there are other ways to make a living. You can have a regular 9 to 5 job, freelance, or even get involved in affiliate marketing. These are all great and proven options, but eCom has some benefits that these other avenues do not provide.

eCommerce vs Freelancing

Freelancing can be great, but it often does not earn the type of income that comes with eCommerce. Many freelancing gigs require you to perform a service in exchange for getting paid. The more you work, the more you get paid – you are essentially trading your time for money. The downside is that you can only do so much work in a day, so income is limited.

One of the greatest things about eCom is that your site is always trying to earn you money. When you freelance, you can’t work 24/7, but your online store certainly can. And instead of trading time for money, you are trading products for money – and it’s a lot easier to get more product than getting more time. That’s why eCommerce can bring in so much more revenue than freelancing.

eCommerce vs Affiliate Marketing

eCommerce has more income potential than freelancing, but what about affiliate marketing—the king of “passive income” techniques?

Sites like Amazon have a great affiliate program where you can advertise other people’s products on your website and earn money by generating traffic. But here’s the critical part—you’re promoting other people’s products. That is a big deal because you can’t create a brand through affiliate marketing.

As an affiliate marketer, you limit yourself to helping other people pursue their business dreams. What about your own?  

Yes, you can make a couple of extra dollars plugging links for other businesses. But there is a reason why Allbirds is an 8-figures eCom business and quickly becoming a household name. Besides, how many affiliate marketers have you heard in the news, seen ads for online, or have seen featured in FORBES magazine?

The Amazon's boss Jeff Bezos, the leader in eCommerce

If you think that you are in the wrong business, you don’t have to worry at all. Whether you are a photographer, painter, crafter, whatever your passion, you can turn it into eCommerce. 

The founders of PRESS started as two people passionate about healthy living. Tim Brown of Allbirds just wanted to save the planet while wearing a more comfortable pair of shoes. There’s no telling where your interests could take you, let eCommerce enhance the trip.

Conclusion

Is eCommerce the best business opportunity today? Well, despite all success stories and promising prospects, make no mistake, eCom can be difficult. Knowing which platform to use, how to set things up, and navigating technical hurdles that inherently come with online business is only the beginning and the easiest part.

That is probably why more than 90% startups fail, despite the potential gains. If you do not know what you are doing, trying to run an eCom business on top of an already stressful life, can do more harm than good.

Luckily, there are eCom experts and mentors, who can help you, give you the advice and guide you through many traps. With experienced and skilled mentors, you can decrease the risk level and avoid failure. Don’t jump blindly into the business as many out there do. With professional help, there is a considerable chance that you can skyrocket your eCommerce business into a 21st-century money-making machine.  

If you want to learn more about eCom, sign up for my free eCom BootCamp, and we will get you started with the next step towards your dreams.

Yes, the future of business is in eCommerce. Don’t let you or your company get left behind. We live in incredible times, so take this chance and make the best business opportunity today be your winning ticket to a better life and bright future.

What do you think about an eCommerce business? Is it the best business opportunity today? Let me know what do you think or what are your experiences in the comments below.

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12 thoughts on “[BEST BUSINESS OPPORTUNITY TODAY]: More than 1.9 billion people are going to shop online this year and spend more than $3 trillion!”

  1. Sounds exciting, Urban and, If I understand properly, would benefit those who already have a product/s to sell.  If you don’t have a product of your own, how would one get involved in E-commerce?  Does one need a website and hosting and?

    I’m not one of those who has a said product unless you could count carving walking sticks (a hobby) but I don’t think I could churn out enough to keep up with the demand should it even occur.

    Might not be understanding this properly but, isn’t Affiliate Marketing a form of e-com?  One writes content with links around products or services in their niche that can help others solve an issue they are having.  I know it takes time to establish authority in a particular niche but I would imagine the same would apply to an E-com business as well? 

    Perhaps E-com isn’t the avenue for everyone and Affiliate Marketing should be the avenue I pursue.

    Wayne

    1. Hi Wayne! Great that you took time and read the article. Yes, you are right. If you want to start with eCom, you need to have your own products (physical or digital) and your own online store. That could sound scary, but in reality, it is not like that at all. Fortunately, there are many services which make your life easier when starting with eCommerce. You also don’t need to stock your products or some special technical skills to build your online store. More about that you can read here

      No, affiliate marketing is not a form of eCom, because you promote products or (services) from other businesses, which can be in eCommerce (like Amazon). I am not saying that is bad. It is sure excellent If you do that properly. But the potential eCommerce has you cannot beat with affiliate marketing. And in both cases, you are investing your time and energy.

      No, in eCommerce, you don’t have to be the authority to sell products. You have to be if you sell digital products (like courses) though. But if you sell physical products, ou doesn’t have to at all. 

      The only thing you need is a creative idea and marketing skills. In my opinion, eCommerce can be great additional business every affiliate marketer should run or at least try. As an affiliate marketer, you understand online and digital marketing and have skills to do it, for instance, much better as newbies from other fields. 

      So, If you find this topic interesting, dig deeper into it, and someday you might have your own online store and brand. For instance, the brand is something you cannot develop with affiliate marketing as much as you can do that with eCommerce. 

      I wish you all the best. Take care & cheers!

  2. This couldn’t have been more timely. I’ve actually been thinking about starting an eCom business – specifically dropshipping Yoga range products – an interest of mine. Having started as an affiliate, I kind of get the basics of online marketing already and feel that I am ready to take it one step further. Looking forward to learning something new from your free training. 

    1. Hi Cathy! That’s great to hear, and Yoga range products are always popular. Do not fear the competition. If you are interested in the niche and practice yoga by yourself, then you have a competitive advantage because you can speak to your potential customers from your experiences. That personal touch always works well. But, I guess you already know that 🙂 … 

      Yes, check my website recently to learn more about eCommerce business. Don’t miss my eCom BootCamp and join our FB Group (UrbiBaba’s eCom Business Group). I wish you all the best in your eCommerce adventure. 

  3. Thank you for this great and informative post on eCommerce.

    I have to say, there’s quite a bit I didn’t know.  That said, I’d have to have my own product or service to build an eCommerce site right?  I think that’s why I’m in affiliate marketing right now.  I do t have my own offering to sell.

    eCommerce makes total sense for companies with a product of their own.  Online is where everything is heading.  Major stores are closing locations as purchasing trends shift to the online space.

    Thank you again.  I’m going to have to look deeper into what eCommerce has to offer.

    Scott

    1. Hi Scott! Yes, if you want to start an eCommerce Business, you have to sell your products (physical or digital), but it doesn’t mean you need to produce them as well. You can start selling products from manufacturers and wholesalers (mostly from China, but you can find local as well). 

      The only thing is that you need to do some research before you decide what you are going to sell. If you want to minimize the risk, you even don’t need to buy your stock, but you can use dropshipping model.
      What does it mean? It means that you purchase the product after you sell it to your customer first. So, eCommerce made a huge step forward to lower the barriers and risks for people who want to start a profitable online business in the long term. The industry itself, as you could read in the article, is in a huge uptrend, so there are high odds to be successful in this business. 

      As an affiliate marketer, you have already excellent marketing skills which mean that eCommerce could represent a perfect additional income for you. I guess you know the quote “don’t have all eggs into one basket.”
      Look deeper into eCommerce and let me know if you need any help. I wish you all the best and take care.

  4. Hello there, thanks for such wonderful post. I have retired from my job now for almost 2months and I have been in search for an online business to get on with. From what i have read here I’m convinced this is a good means to make money for ones self considering the stats. However being a newbie in it, how do I come in contact with someone who can be a guide for me? 

    1. Hi Chloe, I am glad you liked the article. All economic indicators show enormous potential in eCommerce, and many people will jump into the business in the next years. It doesn’t mean everyone will be successful, though. You need to know what you are doing, and you need to do it properly. 

      Yes, as a fresh pensioner, an eCommerce adventure can be a perfect fit for you. If you want to know more about it, I suggest you sign up to my eCom BootCamp and learn more about eCommerce Business. You can sign up here.

      However, there are many online courses, which can lead you through the process. But if you want more individual or personal approach, don’t hesitate to contact me.

      I wish you all the best. Take care & Cheers.

  5. You have given a lot of inspirational stories of people who started small and now have made it big in the industry. This just proves that there really is a big opportunity with e Commerce. I like the idea of this business – making a brand for itself through online selling. You don’t have to monitor your business 24/7 because your store is doing it for you.  However it is really difficult to let go of a big amount of capital. There should be a plan before delving into this business. Before, people.would make feasibility study before establishing a brand or business but now, it’s as easy as getting a training like yours,  or even a consultancy.

    Thank you for all this learning about E Commerce that I accumulated today. It’s like having a morning class on business. This is something that I would put my time, effort and  money (which I have to save) because it’s very timely and has more opportunity in the future.

     

    1. Hey MissusB! Yes, eCommerce is a massive opportunity for anyone who is looking to start a business or earn additional income to a regular job. Fortunately, you don’t need an enormous amount of capital to start an eCom business. I am talking here around $1,000, which is very affordable or can be saved in a reasonable period. Meanwhile, you can spend time learning about the business and developing crucial skills. Yes, planning is important as well, but again; you don’t need months to create a plan and even more time to implement it. Everything you need is available to you. I wish you all the best. Take care.

  6. Ecommerce sure has benefits but in the same way it also has a lot of risks. I am all for e-commerce but anyone entering into this line of business needs to know that it involves a lot of risks. If properly managed though can lead to a lot of revenue that you never believed could be possible in the online world. 

    I have personally seen a lot of people succeed in this line of business and I have also seen those that failed. Just like every other business one needs to be aware of the risks before getting involved.

    1. Hi Jay! Yes, I agree. Like any other business, Ecommerce can be a very risky business. But only if you don’t know what are you doing and if you take the business with ease. It is not as easy as many people think. There is no free lunch. However, If you do your homework, learn stuff, use available technology, and develop the needed skills, then the risk can be much much lower. And If you ask for help, you can reduce risk even more. Yes, always check and do your own research before you start an eCommerce Business.   

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