Many established bloggers make their money through affiliate links whereby they take a percentage of the sales when someone purchases a product through that particular link at no extra charge to the customer. Another stream of income comes from retail. It can range from apparel to accessories and the bright side is, anyone can set up an online store and start earning.
Firstly, one must understand that there are many different kinds of e-commerce. The most convention one stocks up on product they believe will sell. Some produce their own products, such as is the case with Etsy. There are also pre-orders and those that offer procurement services – these buyers go to foreign lands to purchase local products for their customers. Once you understand the kind of business you are interest in running, you are ready to start.
Procurement services often run on credit, whereby the customers must first pre-pay an amount into the buyer’s accounts or the customer would have to make a transaction in order to secure a purchase. Upon reaching the foreign country, the buyer usually spends the day hunting for their customer’s orders. They also take photos of products that might seem likely to sell. When an order is confirmed, the item is purchased and will be sent to the customer upon the buyer’s return.
This service is becoming increasingly common, especially in Asian countries. This business satisfies those who are unable to travel but want to enjoy foreign products without the hefty prices of international shipping. It is also rather popular with youths as it is their way of earning a keep while seeing the world. Usual platforms for buyers to offer these services are through WeChat or Facebook.
Some may find that lifestyle too stressful or demanding. In that case, conventional e-commerce is something that virtually anyone can do. Popular platforms include Facebook, Instagram and online marketplaces or forums.
After identifying what products to sell, there are three methods to the next step. One could start procuring the stock by placing an order through a supplier and setting up shop from one’s own home or use a drop-ship.
This second method minimizes capital as the order will not be pre-purchased but sent to the customer directly by the supplier. Many companies that offer drop-shipping also make room for their client’s branding to be placed on the packaging.
The third method is through a fulfilment company. This frees the business owner from having to take inventory and pack or deliver packages, giving them the time and energy to focus solely on the business itself. It is basically a storeroom that processes orders. The orders will usually be directed straight to the company from the business’ website so that there is no need for the business owner to do anything, logistically speaking.
While the more modern ecommerce might sound fun and adventurous, it is a lifestyle that only looks glamorous as one gets to fly to exciting destinations. The downside is, depending on how one organizes one’s business and how large their customer base is, it could be extremely tiring and one would not get the chance to see the country at all. However, it does not require as much capital since everything is pre-paid in advance.
On the other hand, conventional ecommerce does pose a little bit of a risk, but it is rather fuss free, especially with the third method of using a fulfilment centre.
However, bear in mind that there are more methods than what is listed and various more ideas to make a sale. In the end, the right mindset and marketing can turn anything into a business.
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