Main Reasons Why E-commerce businesses fail
"There are several reasons for an eCommerce company/project failure. It might cause due to these reasons:
i) Don't do enough research on the target market
ii) Lack of engagement in line with other channels
iii) Unclear image of the desired customer's buying behavior and preferences from an analytics perspective.
iv) Poor sell-through rates from poor merchandising skills/loading times/offering variety etc.
v) Inability to maintain a cohesive cross-channel marketing strategy that achieves complementary objectives within a realistic budget.
vi) Overhead expenses - IT costs, labor costs, legal fees for NDAs and patents take up too much time and money before launching a product making it difficult to gain initial traction"
1) Wrong Product Sales
The product is one of the key reasons websites fail. Selling a product no one wants puts you in a difficult position from the start. The most important decision when opening an internet store. Make sure online shoppers want to buy your goods!
2) Inexact Pricing
There are tales and websites that make millions, yet they look amateurish. Despite their unappealing appearance, they succeed in giving the greatest costs. Of course, better design and marketing would help, but the assumption is that low costs will attract buyers. This is true in the offline retail industry, but even more so online, where the next store is only a click away. Make sure you have investigated your competition and their prices. For more advice, see how to improve online sales.
3) No Marketing Plan
You cannot succeed without a strategy. Plan it out and execute it. Remember to change it if it doesn't work the first time to increase your ROI. Since most online sales begin with a search, develop a paid search marketing strategy (and budget).
4) Google does not rank the website
eCommerce SEO should be a major aspect of your marketing strategy. The main concept is to get you to the top of the search engines so people can find you when they search for similar keywords. 36% of shoppers begin their product search on Amazon, while 35% begin on Google. So getting found on Google for your product keywords is still a good idea.
5) No action calls
If you want people to add something to their cart, make the button stand out. If you want them to call, display your number. Always direct the user where to go, what to do next, and of course, to buy.
6) Poor Content
Customers will trust you more if you have a lot of material. Create buying guides and individual product description pages for your products. Videos and photos are included. It's vital to educate as well as sell your guests. This will also assist your SEO.
7 ) Excessive Shipping
Shipping is expensive. It annoys us. Reduce shipping costs and offer free shipment whenever possible. Again, FREE delivery. Much more sales!