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How often do you think of beginning your own eCommerce venture after getting inspired by dozens and dozens of success stories around you? But have you ever wondered about how many of these growing eCommerce setups really make it to the top? Not many, to be honest; in fact, only 3% or 650,000 out of a total of 12-24 million online stores, according to a report on Internet Retailer.
A successful ecommerce website can bring a major windfall to the entrepreneurs. However, the most common scenario is the fall back of such online stores due to the lack of understanding, and not-well approached research beforehand. The eminent mistake is the consideration of the known internet challenges and missing the lesser-known but critical challenges of running an ecommerce business.