Nicaragua has less than average rates of eCommerce and less than average access to the internet. Consumer market research groups say that in 2021, 45 percent of Nicaraguans will use the internet, most of them through mobile data plans. This is lower than the average of 54 percent in Central America, where 54 percent of people use the internet. Nicaragua has 84 cell phone subscriptions for every 100 people, which is less than the average of 112 in Central America. The government of Nicaragua can stop the internet at any time. During the protests in 2018, the government cut off the internet in some cities. The government of Nicaragua could use technology to keep track of what people do. Under Nicaragua’s 2020 Cybercrimes Law, a local judge can issue an order, at the request of the National Police or Prosecutor General, to force internet providers to give specific information about an individual customer, as well as collect, extract, or record data about this customer, such as real-time data traffic.
How to start an online store
Strategy and logistics work together to make an e-commerce business successful. Even though you have to be hands-on to be successful, the process is much easier and cheaper than opening a physical store. With an online store, you don’t have to worry about rent, utilities, and maintenance, and you don’t have to stick to a set schedule. This can give you a better return on your investment and more freedom. You’ll also be able to reach millions more potential customers, all of whom could become brand loyalists.
Follow this simple, straightforward process step by step, and you’ll know how to start an e-commerce business without wasting time:
Make your business idea clearer
If you want to start a new e-commerce business, you may already have an idea of what it will be about. But it takes a little more work to turn your idea into a business plan that has a huge chance of making money and helps you make the right business decisions. You need to talk more about your main point and explain these three things:
The goods or services you sell
What exactly are you selling? Whether you plan to sell physical products, digital products, or your own knowledge, you need to know what you will offer customers before you launch. You don’t have to come up with completely new product or service ideas, but you should think about what you want to offer and make sure there’s a good market for it. For example, if you want to sell jewelry, be clear about how that will happen. Will you sell earrings, necklaces, and bracelets? Will selling rings be your main goal? Will you use real, valuable gems or regular metal to make them? To answer these questions, you may need to think about what materials or finished products you can actually get and what kinds of jewelry are popular or in demand.
Your business niche
Anyone can sell what you sell, so why should people buy from you? Your company’s niche is what will keep customers coming back and help customers tell you apart from your competitors. Part of figuring out what your niche is is figuring out who your target audience should be. Think about who wants to buy your service or product when you’re coming up with ideas for it. Give your niche market some specific parameters based on their age, income level, location, interests (like outdoor activities), and values (like relationship-building).
Pick a name for your business
A good brand name does three important things: It helps customers find you, remember you, and get a feel for what your brand is all about. Do some research before picking the first business name that comes to mind. For an e-commerce business, it helps to have a brand name that is unique enough that when a shopper googles it, your store comes up as the first result. You should also make sure that the name you choose is available, both for legal registration in your state and as a domain name. This will make people remember your brand because it is different.
Pick an online store platform
Just like people who want to open a storefront need to find the right spot, you need to decide if you want your own domain name or if you want to be part of a bigger online marketplace.
Outline your order fulfillment process
It’s important to give customers a five-star experience if you want to have a good reputation and keep customers coming back. Setting up a satisfying order fulfillment process is an important way to make sure that shoppers always see you at your best.
Promote your launch
The last step in learning how to start an e-commerce business is figuring out how you’ll market it. How will people be able to find your brand and connect with it? Many online stores use social media marketing because it’s where millions of customers spend their time. It’s better to start with one or two platforms, depending on where your target audience is. For example, a Facebook business page can help you reach almost every adult in the U.S., while Instagram is best for B2C brands and LinkedIn is best for B2B brands.
