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5 Signs You Should Start an Online Store

How do you know it is the perfect timing to take the next step? How do you know when to start an online store? Read this article and find out!
Your ecommerce store might get an excellent start on Amazon, Shopify, Etsy or some another platform. However, if things go too well for you, it shouldn’t be long before you build your own online store and start selling your items directly.
Owning your own store or your own platform will help you create your own brand identity, help you engage with all of your online customers in more friendly and meaningful way, and give any small business the tools and options that fit certain needs.
You probably are asking – how do you know it is the perfect timing to take the next step? How do you know when to start an online store? You are not the only one who is asking these questions. There are a lot of people out there who are looking for the same answers.
According to some experts, there are a few crucial signs you shouldn’t miss and in this article, we are going to present you the most important ones:

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Your needs have become more sophisticatedYou sell a luxury pro

➢ You are paying too much in fees

There are some days when you feel like Amazon or eBay are eating you alive with certain fees. Without your own revenue stream, you can’t expect to run your online store for too long. If you think you are paying too many fees, you need to find a way to start your own platform and cut down the costs. eBay, Amazon, Etsy, Shopify, and other platforms make their money off transaction fees which are usually around 15%, per each transaction.

➢ You are not diversified

In order to protect your online business and your empire, you will need more than one revenue stream. The best way to make money and have a resilient income is to own the business and not hope that you will fit in the platform. For a lot of people, the perfect moment to diversify is when their profit reaches $10.000 or more per month.

➢ Your customers are asking for it

Having your own ecommerce site is a sign of success and brand maturity. It also tells customers that there is a powerful and serious business behind the product. When certain people ask you where can they find your store or your products online, you can’t just send them to your Amazon account. It is unprofessional. If you notice that your customers are asking for your online store it is a clear sign that you must build one as soon as possible.

➢ Your needs have become more sophisticated

As the product volume grows, you may need a simpler system to collect important customer information such as shopping cart abandonment, order history or an email address. This information is really important to building a retention strategy and it is even more important to the long game.
Your customers are asking for itYou are not diversified

➢ You sell a luxury product

Did you notice that you can’t find a Louis Vuitton or Gucci bag on Amazon or eBay? Well, this is because there is a certain reason why these brands avoid listing their luxury items on marketplaces such as Amazon and eBay and there is a certain reason why these brands never offer discounts. They want to maintain a sense of luxury and exclusivity. It makes sense to keep a tight control over where customers can locate your store and find your products. If you think your products are too luxury for Amazon or eBay, here is another sign that you need to start an online store. This strategy is especially recommended for high margin and low volume businesses in the fashion, jewelry, and accessory industries where user experience is superior.
So, are you ready to start an online store and take your business to the next level?

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