The U.S. ecommerce market made over $504 billion last year and is anticipated to grow to more than $735 billion by 2023. With this growth potential, it’s a great time for entrepreneurs to start selling products online. Today’s sellers have many options to get started. Here are five of the most popular.
Your Own Ecommerce Store
Building your own ecommerce store is the most traditional route. It requires some effort to put everything together but offers the most control. You’ll need to find website hosting and a domain, design the layout, add products, and create content. You can also hire a designer or developer to help. Once completed, you have full control to add products, change content, and adjust the site’s functionality.
Hosted Ecommerce Platforms
Hosted ecommerce platforms, like Shopify, BigCommerce, and Big Cartel, make setting up an online store easier, though you have less control over certain details. These platforms provide the main functionality, and you can choose from themes and templates, with some customization available. While they simplify setup and can be cheaper initially, they usually charge monthly fees that might add up over time.
Marketplace Sites
Marketplace sites, such as Etsy, eBay, and Amazon, allow small businesses to sell their products alongside other sellers. These sites often have fewer customization options but attract large numbers of visitors. Amazon, eBay, and Etsy get millions of visitors each month, offering a built-in audience. Your products will appear next to those of other sellers, which could be both a challenge and an opportunity to stand out. Many businesses use marketplace sites alongside their own dedicated websites.
Social Media
With about 72 percent of U.S. adults using at least one social media platform, businesses can meet customers where they spend their time. Platforms like Facebook and Instagram offer features for setting up storefronts and shoppable posts. The main advantage is the built-in audience, although converting social media users to buyers may require more effort than on dedicated ecommerce sites.
Ecommerce Add-Ons
Ecommerce add-ons offer a middle ground between building your own site and using a hosted platform. You can integrate plugins or pre-made options to manage payments or add buy buttons. While this can make getting started easier and potentially save money, it involves coordinating multiple components, which can be complex and prone to technical glitches.
