Worldwide retail ecommerce sales are expected to reach 4.20 trillion U.S. dollars in 2020 – a trend that will continue growing exponentially. People can buy everything online from fresh groceries to prescription glasses – without ever leaving the comfort of their home.
Investing in an online store can be a valuable addition to your revenue stream. The strength of ecommerce lies in its convenience as potential customers can find your business from anywhere with an internet connection. As more Canadians turn to online shopping, you can get your business in front of shoppers who are currently browsing online.
Step-by-Step Ecommerce Guide
Before anything else, you need to lay the groundwork with some pre-launch preparation. The best way to start selling online involves a plan, similar to an overall business plan, specifically focused on ecommerce. It doesn't need to be complicated. However, it does need to outline the essentials for getting your online business up and running.
Now that we laid the groundwork, the next step is to choose the right ecommerce solution for your business. Every small business has specific needs, while different platforms have their strengths and weaknesses. An essential factor in selecting the best ecommerce solution is whether it offers the right features for your business.
Now that you've identified your market, nailed down your shipping strategy, and picked an ecommerce platform, we can focus on essential tips for creating your store. While you could whip a website together in minutes with Bookmark, you run the risk of losing potential customers without a proper launch strategy. With an organized approach to launching your website, you'll set up your online business for long-term, scalable success.
Once you have tackled these key areas — site functionality, product photography, and search engine optimization—you’ll have created the solid foundation you need to build out your online store.
Next, we’ll focus on setting up your website with Bookmark and enabling the power of ecommerce with Moneris Online.
Help Prevent Fraud From Hurting Your Online Sales
The world of ecommerce has grown dramatically, as businesses have begun to include online shopping as part of their standard business model. Unlike traditional brick-and-mortar stores, detecting fraudulent behaviour can be difficult. The fact that 88% of Canadian businesses reported experiencing at least one cyber-attack in the last year alone shows that all businesses are at risk, including yours.
Fraud prevention tools within your ecommerce solution might sound like an expensive or tedious feature that only the big businesses can afford to do. Still, you might be surprised that this isn't the case. Implementing fraud prevention tools is one of the easiest ways to minimize your exposure to online credit card fraud.
Kount, a Moneris partner, helps ecommerce businesses boost sales by reducing fraud and allowing you to accept more orders from more people in more places than ever. Moneris collaborated with Kount to expand fraud protection services to small businesses by building an easy-to-use fraud solution that reduces chargeback risks from online transactions.
With Moneris Kount Essential, you can get out-of-the-box fraud protection for your ecommerce business. It uses predetermined risk parameters based on your business size and industry to assess potentially fraudulent transactions in real-time.
Accept All the Online Payment Methods
With the expansion of ecommerce and the need for secure payment methods, online shoppers are embracing digital wallet payments. Digital wallets have seen a surge in popularity in the last few years, not only for the security they provide but also for the great convenience involved.
To meet the changing preferences of consumers, online business owners need to evolve their websites and provide a smooth shopping experience. While a mobile-friendly website is a big part of it, you also have to offer a seamless checkout experience with alternative payment methods.
The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed.