According to Nominet, one out of four retail purchases are made through the web. Last year alone, £68.2 billion was spent online and the ecommerce marketplace is set to double in size by 2018 because it will be boosted by sales through mobile phones and tablet computers. It has also become relatively easier to start a small business online because of the growth in technology platforms and the growing popularity of market places like eBay, Etsy and Amazon.
According to research results from Santander, at least 49% of UK student entrepreneurs sell their products and services online. While at the university, a student can start an ecommerce business with less than £100. How to start an online store requires identifying the product or service that you are going to sell or resell after which you have to purchase a domain name for as little as £3. The price of the domain name is based on domain extension whether you prefer .com, .co.uk or niche domains like .london.
After the domain, it is important to arrange for web hosting. You can opt for third party hosted ecommerce solutions like Go Daddy, 1&1 or 123-reg so that hosting can be managed on your behalf. You can also opt to manage your own hosting but this requires technical skills and resources. Price for basic hosting ranges from £4 to £5 but for premium services, you can expect to pay over £30.
After you have sorted out your domain name and hosting, you will be able to turn your retail ideas into reality through the use of shopping cart software like Shopify, Magento and Sellr. The shopping cart software is a key component of your online business because visitors will need to view the products before making a purchasing decision. One of the most common ecommerce shopping software is eBay’s Magento platform.
How to start an online store also involves ecommerce website design and the choice for payment methods. PayPal and World Pay are popular options but typically the shopping cart provider will offer a whole package that includes hosting, payment options and the ability to purchase a domain.
Electrical services and appliances repair are not cheap that is why a technician gave some tips on what should be done when appliance reached their broken down state. Upon purchasing an appliance, it may have already cost the consumer a lot of money and there are quite a few appliances that are no considered a necessity inside the house. After the purchase is made, the spending does not end there.
According to Mike Mannino, a technician at The Appliance Doctor, he has received many calls from customers and almost all of them are asking whether they should send their appliance for repair or not. Mannino experienced firsthand how his own appliances needed repair and he did but only after more than a year, it was already experiencing faults and would seem to need another repair. The repair bill kept coming only within a short span of time.
Mannino admitted that it is now one of the biggest problems since repair can be really expensive and it is so because of the high technology used by these appliances. Because these modern machines are so high tech, they also offer a lot of feature which is cause for more faults in the future. The problem with modern appliances is that with continued use, they tend to break down. But he shared the general rule that should be followed when it comes to repair decisions:
When the repair fee is half or below the total cost of the appliance when you purchase it and it is worth saving. More than that and you should consider buying a new one with the money you have.
There is now the latest list of product lifespan depending on the type of appliance. Give 10 years for washers and dryers and if the repair cost is expensive then it is high time to buy a new one. For dishwashers, it has a lifespan of 9 years before it needs replacing. For refrigerators, 13 years is the average but may not be uniform because there are many types. In the case of ranges as well as wall ovens, give 15 years before it breaks down.
Are you into business? Are you desperately seeking of ways to boost your sales? It is time that you launch yourself online. Getting your company in the internet will expand your market reach. Take for example UglyChristmasSweater.com, this business continues to sky rocket high when it comes to profit making because of the demand of the products as well as the availability of the products to challenging geographical locations.
During the holiday seasons, take advantage of the frenzy in the market. Strategize well in this season so you can boost your sales. Here are some things to keep in mind.
• Think more. When the customer is about to make the purchase, ask him if he might like an additional item as a gift for someone. Make a suggestion, take several items out and let the customer hold and see it.
• Get to know the customer. Make it a point to know something professional and personal when you are with a customer. You should build a rapport with them and create an environment that is pleasing. This way, they will feel that you genuinely care for them. If you build strong relationships with customers, they will continue to go back to your store even when it is not the holidays.
• Believe what you are selling. Ensure that your salesladies are equipped with the right knowledge regarding a product so that they will be confident in communicating what the product can do for the customer. In malls, there are several salespeople who clearly do not believe what they are selling. The customer can easily notice this in the body language and the facial expression of the salesperson. You need to train your marketing people how to sell your products effectively.
• Know what your customer is looking for. Do you have an idea what the goals of your customers are? Find out what the business and personal goals of your customers are. You can start by asking questions and then listen to their varied answers. During the holiday seasons, you might have something in mind with what your customer wants. Communicate with them openly and effectively.
The economic outlook of the European Union has brightened with retail sales rising for the fourth consecutive month in January. Official statistics from Eurostat, a European statistics agency, has shown that retail sales rose by 1.1% since December and by 3.7% if compared to January last year. This was the biggest monthly increase since May 2013 and the highest annual increase since August 2005.
Sale of automobiles increased by 3.2% from the month before while non-food sales were up by 1.2%. However, the increase in retail sales is not the same for all the countries belonging to the eurozone. Germany and Portugal had strong increases in their monthly sales which offset the weaker performance of countries like France where retail sales only increased by 0.1%.
The number one element in economic growth is consumer spending. This used to be held back in the eurozone because of the high rates of unemployment and economic uncertainty. There were fears that a negative inflation might occur in the eurozone with prices in January lower by 0.6% than a year earlier. It could impact on consumer spending because people could delay their purchases in expectation of a further lowering in the prices of consumer goods.
Spending on fuel is being seen as the driver in the increase in retail sales. With the decline in the prices of oil, consumers have more money to spend on goods and services. As the benefits from low oil prices continue, it is believed that the eurozone growth will be able to pick up markedly to 1.6% in 2015. According to Howard Archer, the chief European economist at HIS Global Insight, this means a more competitive euro and a substantial ECB stimulus. A separate report suggests that the rate of growth in the eurozone economy in February was the fastest in a seven-month period.
In February, Markit’s eurozone composite purchasing marketing index rose for the third month to 53.3 from January’s 52.6 which boosted new factory orders. Any number that is more than 50 means expansion which means that the index is now at its highest level since July of last year. This news is very encouraging because it shows renewed growth in France, the eurozone’s second largest economy.