Whether we’re living in a socially distanced world or going back to business as normal, one thing is abundantly clear: no matter what, eCommerce is the way of the future. Consumers flock to online retailers for the convenience of simplified shopping in an always hectic world. Naturally, it makes sense to want to jump online to market your business or product.
However, doing this is not without its risks. Setting up a virtual shop also means going toe to toe with mammoths like Amazon for customer sales. While this may seem like an impossible task, it is still possible to thrive in the digital marketplace alongside giants. Entrepreneur Hudson Shapiro did just that. As co-founder of multiple companies, including Luciawellness, a supplement company with a holistic approach focusing on the many benefits of seamoss.
The Amazon Impact
From an early age, Shapiro was creating business opportunities. The Luciawellness co-founder also helped launch Dupuytrensco, a company credited for creating and marketing the first homeopathic cream to fight Dupuytren’s Disease. With lasting success in multiple business ventures, Shapiro is in a unique position to offer advice on how to succeed in the current online marketplace. Shapiro says:
“The most obvious concern as far as longevity in the e-commerce marketplace revolves around Amazon. The company already has roughly 50% of the entire US E-commerce marketplace and there are no signs of it slowing down. The two companies that I currently run all provide a unique service or product to market. This makes it harder for giants like Amazon to impact these businesses. As amazon might be a place we consider listing our product, the actual business and product we offer is what customers are after. Not the sales channel it’s listed on.”
Offer Consumables and Services Customers Seek Out
To thrive as a successful e-commerce business, the goal is to have a product worth going elsewhere for. Whether it’s advice that they cannot get elsewhere or a quality product that stands out from the crowd, a winning entrepreneur will make the consumer want to come to them.
Don’t Overthink it
While having a plan is important, Shapiro notes that sometimes, leaping is better than holding off and missing your chance to start. “You don’t have to have a groundbreaking, polished idea to start,” says Shapiro. “Through failure, you will build a skillset and find your strengths and weaknesses quickly. This opens up news lanes of opportunity.”
Startups will always carry with them a fair amount of risk, but those that succeed in a modern marketplace are those willing to rise to the challenge and speak to the consumer.