Starting an eCommerce business from scratch is not anymore a complicated thing. Anyone can build an eCommerce platform today and start selling. However, launching an ecommerce platform will not fetch immediate success. There are a few things that business owners must know before launching the ecommerce platform.
Many business owners or entrepreneurs make mistakes in the beginning at the time of launching an ecommerce platform. The errors, in the beginning, will prove to be costly later. According to a few industry surveys, the failure rate in ecommerce stands at 90% after four months of the business commencement. The risk of failure decreases with time, though risk remains high for around one year.
So, why is the failure rate in ecommerce so high? There are many reasons behind the high failure rate. Knowing a few things can help business owners to reduce the risk of failure in the ecommerce industry. Find some crucial tips in the following section in this regard.