Starting an online business is easy, now that so many resources are readily available, some for free and some quite reasonably priced! However , running your e-commerce successfully and making sales regularly is not at all easy. Often the prime reason behind online business failure is ignorance or unwillingness to learn about the target market.
You don’t make an effort to research the trend and learn your customer behavior, you don’t try to find out what is causing shopping cart abandonment.Because you are in a hurry to make your first sale. This can be disastrous and can ultimately lead to your online business failure.
Often the problem with first-time entrepreneurs is that they often become emotionally attached to their business. Thus they don’t want to step back and observe dispassionately what’s going wrong at their e-commerce store.
Here in this video (the link is right there at the end), I have shared few interesting and well-researched facts and data about the online shopping trend.
The Statistics Tells You Some Key Reasons Behind Online Business Failure
How buyers select a particular online store?
Why a buyer abandons the shopping cart and what makes him/her return to the same e-commerce store to complete the purchase?
Which are the preferred platforms for online reviews?
If you are already anticipating your online business failure, then take a look at these stats. And am sure you will be able to find out the root cause behind your e-commerce store’s sluggish performance.
Related Reading: How to Write Product Descriptions That Boost Your E-Commerce Sales
(PS: Data for this video is sourced from online business statistics.)