Many of the factors to establish if there is an opportunity overlap with the work you will have already done. In your market research and creating your brand identity for example.
Your first step should be focussing on your target audience. What is the insight or need that would lead them to firstly shop online and secondly, shop online at your online store?
In Australia more than 73% of households shopped online in 2018 but online sales still only account for around 10 per cent of total retail sales. Though online sales are growing fast and the majority of people do some online shopping, the default model for most shoppers in most categories is still traditional retail. This is still the case even in advanced e-Commerce markets like China, the US and the UK.
So for your online store to be successful, it needs to fill a need for the consumer that isn’t being satisfied through existing stores. Why is buying online going to be a better option?
Reasons to shop online
There is the convenience of being able to place on order at any time of day. And if the items are are heavy or bulky it is easier have them delivered to your door.
Does the product or service have a lot of technical features? These can be explained through providing product information pages. And links to research online and expert reviews and opinions can help drive online sales conversions.
Is there a lot of choice for shoppers in the category you are looking at? Online stores are less limited by physical space as traditional stores are so can often offer a wider range and variety of products online.
And how does pricing fit into the shopper decision? There is usually a delivery charge for online shopping. But for larger purchases, it is easy for shoppers to compare prices and find a bargain, particularly if there is a sale or promotion on.