According to online research, increasing numbers of full-time workers are exploring their own online retail start-ups.
Statistics show that almost half of online retailers work outside of standard business hours.
Studies show that 48% of online retailers work between the hours of 5.00pm to 12.00 midnight.
Estimates indicate that about half of those who are running an online store while working full time, have plans to turn their part-time activities into a full time online business. Most business owners had plans to move towards doing this once their online earnings matched or surpassed the income that they generated from their day jobs.
Starting an online store is a very cost effective way to check if there is demand for a product. It also allows your business to grow and expand slowly over time, based on your other commitments.
“In the ‘90s, we used to say the big Australian dream was to own your own home. Today, the new Australian dream is to own your own online business.”
The increased affordability of selling online has also caused a “reverse retailing trend”, with people testing the retail waters by starting an online store first, before establishing a bricks and mortar store.
As a merchant, if you want to start a business, you can try it out online for very little cost, as compared to starting a bricks and mortar business which has very high overheads and high start up costs. You can learn about the business, grow your customer base, and work out what products will sell best, before investing thousands of dollars in your retail premises.
Around 40% of Australian retailers are selling online internationally. You would be ‘crazy not to’, considering it’s just as easy to sell online worldwide as it is to sell online in Australia.
If you have always dreamed of being your own boss and starting your own online business, or perhaps you’re looking to test the waters before launching your own traditional bricks and mortar store – there is no better time to get started!