The eCommerce market is already massive, and it’s expected to experience even more growth in the coming years. In the US, eCommerce currently accounts for 25% of all sales — up from 19% in 2019 — and will reach 30% by 2030.
In other words: it’s a good time to be running an eCommerce store. Of course, while there are plenty of online sales being made, it’s also true that a fair chunk of those sales are going to the big corporations. Amazon alone accounts for around 40% of online sales in the United States, with the top 100 online brands making up 66% of sales.
That leaves a much smaller piece of the pie for the rest of us. Throw in the fact that there are tens of millions of stores online, and it becomes pretty clear that finding a foothold in the competitive eCommerce market is a pretty big challenge.
But challenges are meant to be overcome. By adopting a few handy strategies, small eCommerce businesses really can get their voices heard and, in some cases, compete with much bigger businesses. Let’s take a look.
Focus On A Niche
You can try to compete with bigger online stores on all fronts, but you’ll be making things much more difficult for yourself. With limited resources, it makes a lot more sense to focus your efforts on trying to beat them in one particular area. By focusing on a niche product (or niche area), you can make yourself a specialist in that product in a way that businesses that sell everything under the sun cannot.
Utilize the Power of Digital Marketing
It might not always seem like it, but digital marketing really can be a way to snag customers from businesses that are much bigger than you are. After all, the online landscape is a lot more democratic than, say, the billboards of yesteryear. It’s not about how much money you have, but how you use it.
By putting together a flawless digital marketing campaign, you can ensure that you reach your target audience at the right stage of their journey. Of course, if putting together a great campaign was easy, then everyone would do it. This is one of those areas where it’s better to work with experts like Jason McDonald rather than trying to do things yourself. The bottom line? With a sophisticated campaign, it really is possible to get your voice heard, even when the bigger brands are shouting from the rooftops.
Be Everything The Big Brands Are Not
Smaller businesses trying to compete with Amazon and other large online sellers is like David v Goliath. The odds are stacked against you. Getting ahead often depends on avoiding trying to go toe-to-toe with bigger brands and instead focusing on the things that set you apart. You might look at them and wish you had some of what they had, but they can do the same to you, too. They can’t talk about their family-owned small business or show photos of their close-knit band of employees. You can!
