The Growth of E-Commerce Inspires Many Entrepreneurs to Set Up an Online Business
It seems that every entrepreneur wants to start the next Ebay of..... And so we have seen a rise of online shops, which may be due to the rapid expansion of the web and technology industry, the easy implementation of online payment systems and the availability of low interest credit cards. As a consequence, not only is the number of online consumers increasing, but also the number of many successful and growing online retail businesses.
The future of e-commerce looks very promising. Eurostat/nVision predicts that it will only take a few years before the European population buying online increases by 70%.
"E-commerce penetration is currently around 5%, expected to get to north 15% - 30 to 40% for the most bullish of the group." Investor Fred Destin
As online payment is now so common, many entrepreneurs set up the next online marketplaces and shops, inspired by the success of online luxury fashion retailer Net-a-Porter celebrating its 10th anniversary, and just sold for 350 million pounds and a creative publishing platform Blurb, which grew under Astia’s wings to a turnover of 45 million dollars.
The growing industry of e-commerce gives plenty of room for innovative creations, we name a few of the e-commerce entrepreneurs and their businesses:
Mama Tea is a webshop founded by female entrepreneur Anna Louise Simpson. As she struggled to find a tea flavour she liked during her pregnancy, she decided to create her own range of tea flavours which are now for sale on the website.
Founded by Matt Rutledge, Woot blends e-commerce and community and is centered on the different item for sale online each day. Although similar to Groupon and other daily deals sites, the success of Woot is translated into its partnership with Yahoo!Shopping and acquisition by Amazon.
Laura Dunkley, another female entrepreneur, founded Lasso the Moon. Similar to Etsy, this online shop sells unique handmade products from talented designers, that you will not find mass-produced. From jewelry to deckchairs, Lasso the Moon is a platform linking the designer to online buyers.
A online shop linking fashion designers to online shoppers is Catwalk Genius, co-founded by Helen Brown. Online consumers can buy unique pieces of clothing created by independent fashion designers. On top of their clothes, online shoppers can also buy shares to support those designers they particularly like.
E-commerce shop and family run business Babi Pur makes you protect the environment and the producers as you shop. This online store specialises in clothes made of quality natural fibres such as organic cotton, bamboo and wool, as well as safe, fun and educational toys for children up to 6 years old. All their toys meet the Fair Trade standards.
The Beauty Pot is an online retailer offering a range of beauty products especially hair care, skin care and manicure tools. What makes them special is that they offer products particularly suited to each single ethnicity to reflect the culturally diverse melting pot in which we live.
HotHotHot is an online shop that stands out from the crowd as it particularly focuses on hot sauces. Founded in 1994 in California but shipping in 43 different countries, HotHotHot is the first global hot sauce-only online store and offers a range of the best quality hot and spicy products from over 100 different brands.
Founded 4 years ago, and not related to the 2001 internet bubble failure boo.com, the award winning online fashion retailer Boohoo sells women’s fashions according to the latest trends. From party dresses to swimwear, Boohoo offers fashionable clothes at affordable prices.
The establishment of online payments and the expansion of the web has inspired many successful creative online businesses that would have had a hard time growing offline. It is with the rise of online payments using credit cards that customers were able to let such innovative and unique businesses grow. The key advantage is obviously the fact that an online store can reach out for a much wider audience than a local shop.
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