Characteristics of successful online stores

Source: empowernetwork.com

Source: empowernetwork.com

In Australia, there are 50.3% of population has shopped online and it has grown 12% from last year (Ray Morgan Research, 2013).  Due to this high market potential, more and more people open their own online store. Furthermore, opening an online store is also has less cost (renting venue cost and wages) compared to open a traditional store. Thus, it is easy for many people to set up their own online store. However, some of following characteristics are required to make a successful online store.

The first characteristic is having short, simple and meaningful brand name and url (web address). By keeping it short and simple, the name of your store can be easily to be remembered. For example, eBay (www.ebay.com), which is the most successful online auction company. It is using short and simple name, so that people can easily to remember its name. Furthermore, the name of your store has to be meaningful. Here, your online store name should represent the products that you sell. By creating meaningful name, it prevents confusion when people visit your store. For example, Wikipedia (ww.wikipedia.com) that offers free encyclopedia online. The word “pedia” at the end of its name is associated with encyclopedia, thus people are easily to know and remember what they are doing.

The second characteristic is having secure, easy and vary transaction methods. By having secure payment methods, this allows your store to built credibility, and it is very important for online stores. Furthermore, the payment methods has to be easy in its process. Complicated process will make customer confuse and unwilling to make another transaction with your store anymore. One of good example of a payment method that your store can use is PayPal. It offers security and easy process. Lastly, having a vary methods is also making easier for customer to make a transaction. Imagine if you do not have the payment method that your potential customers prefer, it is guarantee that your customers will find another stores that offered the payment method that they can use.

The third method is having easy navigation in your online store. It is important for customers to be able fully understanding what is in your website. If your website is complicated and confusing (e.g. unclear link to the other pages, duplication in information, and confusing design), it makes your customers difficult to find what they want and finally they will run away from your stores.

The fourth method is advertising your online store. Even though it might require some money to advertise your online store, but it is worth it, especially for new stores. By advertising your store, it will increase you store’s awareness, which expected to generate more sales. Furthermore, there are some websites that are good to advertise your store. For example, a social media called “Facebook”. In this website, you are allowed to advertise your store in specific target audience at cheap price.

However, there are still a lot of characteristics that can make an online store to be successful. The information that I gave to you is based on the summary of these following website and my knowledge.

SO, ARE YOU READY TO OPEN YOUR OWN ONLINE STORE?

Source:

http://www.abc.net.au/news/2013-06-04/more-than-50-per-cent-of-australians-shopping-online/4731590

http://www.networksolutions.com/education/online-store-tips/

http://www.prestashop.com/blog/en/six-key-factors-creating-successful-online-store-infographic/

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