New Product Categories
For so long we have been able to buy things like clothing, toys, and electrical goods online. In fact, along with books and audio, these are the top things that people spend money buying online. So as these areas are already doing well, there is little wriggle-room for them to grow. However, there are plenty of markets or categories that do have the potential to grow and grow. Food and drink, office supplies, and health and beauty are all categories that do have room to grow. So it is great news if you work in that industry, as there is a large scope for expansion.
You might be surprised to hear that out of the whole world, the region in the world that spent the most on online sales was the Asia-Pacific region, with well over $100 billion more spent than North America. So while shipping into your own country is a good idea, it can be even better if you offer international shipping and can find a provider to do so in a timely manner. It shouldn’t be too long of a process to implement, but you should look at a DIM calculator by the guys at Red Stag, for example, to see what the postage could be for your products. Would there be a way to reduce the cost of it all? If it is going to be worth it for your business, then it is a growing and expanding market, as more and more places like Eastern Europe and Latin America are growing with what they spend online.
Marketplaces vs. Direct Sites
With many sites like Amazon and eBay taking a lead in ecommerce sales, it will be interesting to see how it all plays out. The sales on outlets like these are rising and rising, and it is easy to see why, with the benefits to both the customer and the seller. So as marketplaces like these take up around 30% off online sales in the US, it makes sense for your business to be on there if it is able to be. The stats are showing that these marketplaces will continue to rise and rise in an effort to become leaders in the market.
In order to get people buying online that never have before, you have to think about what is holding them back. One big thing is that the product won’t be what they think it will be, which is where product visualization comes in. In years gone by, there would be one image for a product. But trends are seeing multiple images per product (around seven), as well as video of the product. It help the buyer to be confident in what they’re getting, and makes the sale more likely.