As per statistics, the U.S. ecommerce economy is worth $349 billion and China’s ecommerce economy is worth $562.66 billion. To be a part of this growing ecommerce ecosystem and enthralling economy, your business plan for ecommerce startup must be ready soon. Opportunities are obtainable out there, you just have to identify them before others.
Research plays a big role in planning an ecommerce business; the mistakes committed by failed startups demonstrate this state. It all starts by knowing which business model is a good fit for you.
Choosing business to consumer model comes with several advantages such as availability of tools and expertise, ready to deploy platforms, etc. Major players include Amazon and eBay which enable businesses to sell online to consumers
The business to business model has seen tremendous acceptance ever since ecommerce became a household name. The biggest name in this segment is Alibaba with an annual turnover of USD 14.7 billion. However, as alluring this segment may appear, sustaining your B2B ecommerce business requires you to know both, who can provide you goods in bulk and those who can buy from you in bulk.
Also Read – How to Attract Customers to your Ecommerce Marketplace?
The biggest example in the C2C ecommerce segment is eBay. More recent examples in the ecommerce ecosystem include Airbnb, where people list available accommodation and travelers from around the world can pay the rent to experience life while living as a local.
Also Read – About to Start an Ecommerce Business? Know How to Overcome These Common Hurdles First
The government outsources work on contract basis to businesses that can offer their expertise and provide quality solution to government. It can be seen in many sectors such as Construction, Information Technology, Healthcare, etc.
There are many ecommerce projects as well, which the government needs help with. However, there are certain challenges associated with the business to government model as well.
The business to government model adds convenience to the lives of citizens. This can be seen when one tries to pay tax. More examples include online registration of documents such as passport, birth certificate, death certificate, vehicle registration, etc.
Choosing a successful ecommerce business model depends on a lot of factors. Not sure which one will suit your ecommerce business idea? Drop a query and our business consultants will get in touch with you.