Market Trends and the Landscape of Digital Entrepreneurs.
It comes out every year NubeCommerce Annual report on e-commerce with market trends in the world. Many people want to become content creators and/or start online businesses. What does the report say about the landscape of digital entrepreneurs?
After overcoming the initial challenges of starting an online business, 47% of digital entrepreneurs say personal development is the most important improvement their business has brought to their lives, especially because they like a challenge.
Entrepreneur Profile
More than 50% of the entrepreneurs surveyed have a source of income other than just their online business; 41% also have a physical store integrated with the online store.
At least 64% of them work from home, and based on the number of people who make up the work team, 53% work with just one person, 43% with teams of two to five people, and less than 5% with six or more Persons .
Products
Speaking of the origin of the products for sale, 48% are purchased from suppliers, 24% are created and manufactured by the sellers themselves, 20% through a blended approach, and the rest sell digital products or sell through the dropshipping model (sales without physical inventory or own inventory. The seller acts as an intermediary between an ultimate buyer and a supplier or “dropshipper”.)
Benefits vs. Challenges
The report also lists some of the issues that online store owners say they have faced; including:
- Money and/or lack of investment (28%).
- Insufficient time for all desired activities (22%).
- Know and master the necessary technological tools (20%).
- Difficulty finding qualified staff (7%)
- Lack of emotional support from family, friends or other entrepreneurs (5%).
The survey of digital entrepreneurs shows that there are other advantages in addition to the personality development mentioned:
- Earn a higher income (41%).
- More time for family and private life (29%).
- The opportunity to take better care of their physical and mental health (19%).
Social networks: sources of inspiration for sales and customer service
For the respondents, social networks are tools that serve three purposes:
- connect with consumers
- give customer service
- Create and distribute relevant content to increase brand reach
To the function of content creation The most popular networks among entrepreneurs are:
- Facebook (90%)
- Instagram (80%)
- WhatsApp (54%)
- Tiktok (30%)
- YouTube (12%)
- Pinterest (11%)
to do on the other hand campaign advertising and ads are the most chosen platforms:
- Facebook Ads (58%)
- Instagram Ads (40%)
- Google Ads (22%)
After all, the channels offer earlier Customer service Son:
- WhatsApp (78%)
- Facebook (63%)
- Instagram (56%)
- Email (38%)
Special appointments as a sales strategy
Regarding commercial events created by organizations like the Mexican Association for Online Sales (AMVO), the report states that they are popular among digital entrepreneurs, for example, almost 40% of them bid during the Hot Sale any type of promotion, discount or benefit. while 60% used this type of strategy in Buen Fin.
The most used strategy during these special dates was free shipping, followed by promotions and discount coupons. Affiliate marketing is the least popular as less than 10% of entrepreneurs have put it into practice.
The economic context surrounding e-commerce in the country maintains stable growth, albeit not as fast as expected a few years ago.
Digital entrepreneurs have various resources and tools within their reach that can help them educate themselves to implement best practices and increase sales and build customer loyalty. Undoubtedly, the healthy increase in these forms of buying and selling is necessary to further strengthen the digital ecosystem.
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