A lot of people and businesses have started to sell items or services online over the past 12 months. The trend for online shopping has been building for quite some time now. However, it has really taken off over the past year as a result of the pandemic. More people have needed to stay at home and self-isolate, which has resulted in people doing the majority of their shopping online instead of in-person. If this sounds familiar, you may have spotted an opportunity in the market through your own online shopping habits during this period. However, it is not simply a case of displaying your products online and the magic happening.

There are a lot of different elements that need to be considered when it comes to selling products online. If you’re thinking of adding an online store, do these three things first:

• Sign up with a payment gateway. There is only one place to begin when it comes to selling products online, and this is by signing up with a payment gateway. If you want to sell items online, you’ll have to have the mechanism to accept online payments. You need to choose with care, as different payment gateways have different levels of security and there are different fees in place, so it is critical to read through all the documentation carefully and choose wisely.

• Consider what platform you are going to use to sell your items. You also need to carefully consider what platform you are going to use to sell your products online. After all, there are a lot of great options for selling products today. If you are selling crafts and items of this nature, it may make sense to list them on Etsy. Or, you have the likes of Amazon and eBay, which also have marketplaces. Other options include setting up your own online store (see mine here, created with Podia). This is the preferred avenue for most people today. However, it is imperative that you put in the work when it comes to marketing your business online. You cannot simply create a website and expect people to come to it. You are going to need to make sure it is SEO-optimized and that you market it on social media and channels of this nature. 

• Do extensive research into pricing. You need to conduct extensive research to make sure that you are pricing your items competitively. Find out what your competition is charging and use it as a guide, not a rule or mandate to match. This does not mean that you need to undercut other businesses. You can outperform them in other ways, such as by offering a better quality product or by offering special deals and discounts. And it’s important to remember that it is a lot easier to lower your prices in the future than it is to increase them.

• Provide a number of payment options. Finally, make sure that you provide a number of different payment options. Generally, it makes sense to offer all of the major credit and debit cards, as well as e-wallets like PayPal. Many platforms are now offering both ApplePay and AfterPay offering customers the convenience of paying with their phones and making payments. As you set up payment options, ensure you’re keeping track of seller fees and tracking analytics to evaluate which payment methods are most popular.

There is no denying that there’s a lot to consider when it comes to selling products and services online today. However, by putting together a comprehensive plan and thinking through all of the logistics beforehand, you’ll find it to be a great source of extra income and a great way to attract new buyers from all over the world!

Happy selling!

Until next time,

Andrea

P.S. Want more guidance on online commerce? This post from the great team over at Style Factory on How to Make an Online Store is a great resource for those looking for simple steps to kickstart their next e-commerce project.