Let’s start with a reality check.
https://share.snipd.com/post/1e9f20de-9e6b-413e-9e0c-6d0219224ba7
https://www.reddit.com/r/ecommerce/s/ITxUmhf5DJ
"The landscape of e-commerce has evolved significantly over the past decade, moving away from arbitrage tactics towards a focus on adding value to the customer.Success in e-commerce now requires building real brand value, exceptional operational capabilities, and unique selling propositions. Amazon has raised the bar for sellers, emphasizing the importance of operational excellence.Creating income and a sustainable business in e-commerce necessitates valuable skills and adding value to the customer's life.The era of easy arbitrage and generic digital marketing strategies is fading, replaced by a hyper-competitive environment where distinctive superpowers are essential for success.Businesses must leverage various strategies to create uniqueness and establish a sustainable competitive advantage. Finding a specific niche where one can excel and offer unparalleled expertise is crucial for e-commerce success. The internet provides the opportunity for significant outcomes, even without traditional margin structures, by tapping into a large total addressable market. The future of e-commerce is likely to witness extreme niche specialization and the rise of highly unique, expert-led businesses with sustainable competitive advantages."
"To succeed in e-commerce, you need to have at least one exceptional skill or 'superpower' that sets you apart and allows you to outperform the market.Having a unique superpower is crucial in a competitive digital business landscape, which offers immense opportunities but also intense global competition. While e-commerce may seem easy to start, it is actually one of the toughest ways to make money.However, having and leveraging your superpower can lead to extraordinary success and make the journey feel like magic."
"The key to success in e-commerce is finding a specific niche where you can excel.By being an expert in a particular area, you can create a sustainable competitive advantage for your business. This advantage can come from offering unique products or services that cater to a specialized market segment.Leveraging expertise and becoming the go-to person in a niche allows for selling in a large Total Addressable Market (TAM) even without traditional margins.Creating a moat around your business by being the best at something is essential in building a successful e-commerce venture."
That brings us to this difficult yet most important question to reflect on.
How are your products different from countless other options already available in the market?
Many of them had built a loyal customer base over many years and spent millions of dollars.
How are you going to convince them to choose your brand’s product over others? How are you going to compete with these existing players, in capturing the attention and trust of potential new buyers who might want/need the same products?
More likely, these brands have a larger marketing budget, better content production infrastructure, and equally good (if not better) quality products to just name a few.
Where is the gap that you can use to your brand’s advantage?
Starting an eCommerce business has become easier than ever.
You can launch an eCommerce website using popular platforms like Shopify or WIX (or countless new platforms launching every minute) within next 24 hours, without needing any technical knowledge.
You can even start selling products without needing to manufacture them, buy & stock inventory, or fulfil them - ‘Drop shipping’ partner can handle it all for you!
You can hire people from sites like Fiverr, at a very economical rate to handle almost everything - building & managing eCommerce website, research & list top drop shipping products, marketing, advertising, customer support - what not!
What’s left?
🤑 You can simply count the cash and relax on a vacation & run a Growing eCommerce business on auto-pilot. 💸
Right?
That’s what eCommerce Gurus are promising in their Free/Paid courses or YouTube videos.
That’s what countless Agencies are promising with their ‘Guaranteed ROAS’ offer.