Bootstrapping Your Own Online Store: Current Trends
Bootstrapping, which is generally defined as the ability to create your own business with limited resources, is one of the biggest trends in online commerce. The growth of virtual stores is set to surpass the construction of brick-and-mortar retail spaces. In addition, more Internet users are becoming comfortable with online shopping. In 2013, 41 percent of all Internet users bought something online, and this number continues to increase. These developments are encouraging more people to open their own stores online.
One of the key trends in online commerce is the growth of stores that are created by individuals or small businesses. Retail e-commerce sales jumped to $237 billion in the U.S., and these smaller stores are partially responsible for the increase. The trends are also visible on a global scale, and the Global Retail E-Commerce Index reveals that global sales reached $840 billion.
Bootstrapping is one of the most popular options among e-commerce startups because it allows individuals and small businesses to enter the marketplace without a great deal of funding. This trend is being bolstered by the growth of online platforms and apps that allow anyone to create a store with a few clicks and products. In addition, the increase in the availability of digital products means that you do not need a warehouse or any physical space to store your merchandise.
The response to these e-commerce trends has been multifaceted, but one emerging development has been the push to use a platform or online marketplace to set up the store. By using these platforms, you can quickly create a store and integrate multiple payment methods. Platforms like Spaces allow you to sell products or digital items online, make your own store, set up subscription services and accept payments. The set-up process is free on Spaces, but there is a fee deducted from your earnings. However, for companies or individuals who are bootstrapping, the ability to build an online store without any investment is attractive.
If your budget for building an online store is $0, then bootstrapping is the simple solution. You will be part of a growing trend in e-commerce if you select this path. As more consumers turn to the Internet to do their shopping, online stores are becoming a lucrative industry. You can build a store in minutes with a platform or online marketplace that gives you access to the tools without the need for a large investment.