7 Reasons Why Most eCommerce Sites Fail & How To Prevent It
We live in the digital age, and one of its consequences is that we have shifted towards a more digitally accessible world where eCommerce Website Design Price has become essential for all retail businesses. With over two billion consumers worldwide engaging in online shopping, it is no surprise that a new eCommerce site appears every second. And yet, even though these numbers are encouraging for eCommerce businesses in theory, more than 99% of them go bust within their first year. Knowing how and why these businesses fail is essential information for anyone looking to get a foothold in the online market. Before we do, here are seven main reasons why most eCommerce sites tend to fail (and what you can do against them). 1. Lack of Market Research Why It Leads to Failure: Many eCommerce entrepreneurs jump in without a clear understanding of their target audience or the competition. Simply having a good product idea doesn’t guarantee success. Without knowing who y...