Online Retailer Growth In 2014
If you’re planning to start your own online business in 2014, there are a few things you’re going to want to keep in mind.
Your Online Business In 2014
The first question you’re obviously going to want to ask yourself is whether or not such a venture is even worth it. According to current data, a close look at vertical data for fifty-thousand Bigcommerce clients and the rates of growth for big internet retailers revealed some interesting information.
One of the most interesting things about the information that came through this research is the clear indication that the smaller and more flexible business is, the better they will do against larger companies in their particular marketplace.
Here are some tidbits to consider, depending on the type of business you would like to create:
Automotive Shops
Automotive shops are definitely on the rise. Each of these stores has experienced a growth of eighty-nine percent in revenue. The big guns in this field have only experienced a revenue increase of twenty-two percent. SEO and mobile options should be part of your plans.
Jewelry and Accessories
Stores that sell jewelry and other accessories have seen a thirty-one-percent rise in revenue, while the store count rose four-percent. Stores that sell clothing lost four-percent in revenue, but saw a thirty-eight-percent climb in store count. Those who wish to run their own business in this area should start with simple jewelry and accessory pieces.
Media
Stores that sell books, music, and films are struggling a bit. Revenue dropped fourteen percent over the past year. If you’re planning to compete with the digital options out there, try to focus on a specialized market.
Additional Industry Sectors of Interest
Industry growth trends are worth looking at. Focus on your specific area, and see how that particular industry is faring. For example, the growth, help, and demand for automotive stores have increased. Toys and games has increased in health and growth, but dropped in demand. Electronics are doing well in all three of these areas, as are the health/beauty and arts/crafts fields. Furniture has dropped for both health and demand, but growth did increase over the course of the past year. Studying the trends that concern your preferred industry will give you a good idea of what your chances for success will be, when you start your own business.
Smaller stores are better able to compete with their larger counterparts. Shops dealing in things like toys, sporting goods, or electronics are doing better overall than the big guns.
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