The Basics of Becoming an Online Trader

September 25, 2022 0 Comments

Online sales are on the rise due to the changing buying habits of today’s consumers, those under 30 who were entering their teens or had just graduated from college when the Internet boomed in the mid-1990s.

This is the generation that spends most of their time reading and sending Twitpics, shout-outs, reposts or jejespeak on their FB, Flickr, tumblr and Blogspot pages, in their desire to be visible and look good on the Internet (now band wide and a powerful tool for business) that has become a friendly tool for collaboration, thanks to Web 2.0 technologies.

Fast forward to an interesting question. Want to join the world of internet retail as a pure gamer to earn extra income from Net Geners, whose disposable income will remain ‘amazing’ through at least 2020. Hear a resounding ‘yes’ out there? That means you are getting into a winning ambition.

Online retailing presents the greatest opportunity for all internet users to earn profit from the web. After all, you spend more than 4 hours in front of your computer screen doing any or all of these things: research, work, play games, chat online or send instant messages, use Skype.

Warning: You won’t immediately get gold from your online sales, but it will initially give you additional income that will grow over time.

Consider this data from the March 2010 ITIF (Information Technology and Innovation Foundation) report.

For the past 10 years, among the top 10 Internet companies in the world are those that have been successfully selling products and services such as Amazon, eBay, Expedia, TD Ameritrade (in merchant services), and of course Yahoo, Google and AOL, which collectively earned $58-B in 2006. The leading e-commerce countries are the UK, US, Sweden, and Denmark.

E-commerce is also growing in Asia, where total B2C sales in Japan, China, Korea and India are expected to reach $115 billion this year. At 52% (in Asia), Japan has the highest percentage of online shoppers, followed by Korea at 45%. China, the second largest Internet population in the world with its 210 million Internet users, is expected to see huge growth in its online retail sales: $18 billion in 2010.

In other parts of Asia like the Philippines, about 90 percent of 28-M Filipinos with Internet access visit social networking sites to chat, play games, and promote business and civic events. Social networks have become an omnipresent tool in any business marketing campaign.

To make your mark in online retail:

Number 1: You must have products or services to sell

Number 2: Study the basics like on-time delivery and packaging (you don’t want your merchandise crushed or broken)

Number 3: You must know how to use new media.

It is advisable to focus on a small range of products first and to know where to find reliable suppliers. Your products or services must be able to be sold, such as mobile phones, gadgets, fashion and accessories, souvenirs, household items, health and wellness, appliances, travel reservations, insurance.

You can earn income from your hobbies and interests such as beading, embroidery, photography, crafts, gardening, woodworking, used or vintage items.

Internet gives you the global market, so there will be customers in Trinidad, Los Angeles, Glasgow, Shanghai, Puchong, Cebu who would like to have those items on your web store.

Here are some basic tips for becoming a trusted online retailer in the world of the net.

Build your website. If you can’t, ask your friends and relatives who can. It is an integral part of running an online business. Or you can buy eCommerce software that has a complete eCommerce platform that integrates payment gateways and a logistics system for local and international deliveries. This way, you don’t have to worry about setting up payment and distribution brokerage services on your own. It’s never too late to get your own website up and running and be one of over 80 million dotcoms in the world. Judging by their sheer numbers, you’re in great company.

Get discovered through social networks. Your FB friends and Twitter followers will be great starting points for engaging with consumers. You can advertise on popular social sites or you can create a Facebook fan page or Multiply product page. Be innovative in your rants (but don’t go overboard) about the benefits of your products so that consumers can emotionally connect with them, regardless of your business agenda.

Wait training. Learn additional skills to create customer engaging content, photo editing, viral videos, SEO, etc. It will increase your confidence as a network entrepreneur and if you apply them wisely, you will be well on your way to building a good customer base.

It’s usually in the first year when it comes to deciding what to sell, where to get your products, and building awareness for your online store. You need to keep your enthusiasm for your business and your customers intact so that for years to come you can get ahead and stay ahead of the curve.

As we look beyond 2020, Net Geners and their progeny, due to their online behavior, prioritize time and convenience that online retailing 100% delivers.

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