E-commerce is the magic word for a lot of entrepreneurs across the globe. E-commerce businesses have been turning over millions of dollars every day and this is encouraging more and more businesses to jump into the wagon.
Even though there are multiple successful e-commerce businesses, around 90% of them fail.
There are multiple reasons for the failure of an e-commerce business. But, NautOne is an expert in creating and running successful e-commerce businesses. From our extensive experience, we have compiled a list of the top 10 e-commerce business mistakes to avoid.
- Selling on a single platform
Selling on e-commerce platforms is now a seamless process because of the options available out there. In many cases, e-commerce sellers list their products on the already available platforms such as Amazon, Flipkart, etc… and some e-commerce business owners create their own platforms.
Whatever the case may be, a lot of new sellers usually sell only on one platform and do not concentrate on others. Yes, it is not easy for e-commerce businesses to sell on multiple e-commerce platforms at the same time and there are a lot of issues to take care of. But still, selling on at least two e-commerce platforms is a great idea.
Even if your product is going well on one of the platforms due to competition or other reasons, the other platform can help you survive until you find an alternative or sort out the problem.
So, to sum it up, selling on just a single e-commerce platform is one of the top e-commerce business mistakes to avoid.
- Having only a couple of products
A majority of e-commerce businesses don’t do this, but entrepreneurs who are just stepping into the world of e-commerce business may do this just to play it safe.
It is actually not a safe option. It may favour the new e-commerce seller in short term and play it safe, but in the long term, this may hurt the e-commerce business. It is great for e-commerce businesses to avoid a mistake like this in the early days.
E-commerce businesses need at least two or three products in their kitty. These products can be either related or unrelated, but still, even if one product is not selling really good, the others might sell well and compensate for the loss incurred by the others.
On the other hand, if you have multiple products related to one main product, that can be your way to hit the jackpot. For instance, if you are an e-commerce business that sells mobile phones, you can also stock your inventory with cases for the mobile, flip covers, tempered glasses, skins, headphones, etc…
If you have all the accessories that go with the primary product, then you have a successful way to sell a couple of accessories along with it and increase your profits.
- Having low inventory during the sale season
Attention e-commerce businesses!
If we don’t have it already, these numbers will definitely grab your eyeballs.
32% of sellers had their biggest day in terms of sales during the Amazon Great Indian Festival sale in 2020. The Great Indian Festival had recorded sales from 98.4 per cent pin codes in the first 48 hours.
These are Everest like numbers for any e-commerce business. Imagine getting sales volume like this but not having enough inventory to fulfil the order.
Scary, isn’t it?
A lot of e-commerce businesses forget to stock up before the sales season like Diwali, New Year, Christmas, etc… In cases like these, as an e-commerce business, you may want to avoid the mistake of not having inventory during special sales.
- Not investing in digital marketing
Digital Marketing is the magic wand that pushes any business forward, especially e-commerce businesses since they are 100% reliant on digital customers and sales.
Digital Marketing across various channels can boost the sales of any e-commerce business. Especially, if a business is brand new, then digital marketing can boost the overall digital presence and help increase organic traffic to the e-commerce product page or the e-commerce website.
Yes, it is hard for new e-commerce businesses to invest huge sums in marketing right away, but we can help you with that. NautOne’s digital marketing team can take care of your brand’s entire digital marketing requirements without burning your pocket. We have an excellent track record of boosting visibility, reach and sales for multiple e-commerce businesses.
You can get in touch with our amazing digital marketing team by ringing us at +91 99948 92628.
- Not having logistical support
This goes without saying! Not having adequate logistics support is a fatal mistake that any e-commerce business should avoid.
Right from manufacturing, to storage to delivery, every little step is dependent on the efficiency of logistics. In established e-commerce platforms, your seller rating and the product ranking will be affected if the delivery time is too high. This is another reason for e-commerce businesses to focus more on their logistics and support system.
All these may sound daunting for new e-commerce businesses. That is where we at NautOne step in and shoulder the responsibility of growing your brand and increase your sales by multiple folds.
You can check out all the e-commerce services we offer and be a part of our successful seller community by calling us on 8072696474 or by mailing us at firstname.lastname@example.org.
Oh, and one more thing! We have an amazing blog loaded with information on Everything an Amazon Seller Needs to Know.