You can create your e-commerce store just like that on Shopify. It's fast, easy, and made for you. As an entrepreneur, developing a full-fledged e-commerce site is barely an option. That's why there are so many stores on Shopify. However, not all of them become successful. You shouldn't back out from your dream wondering how many Shopify stores succeed.
The number of successful Shopify stores is public information. On the contrary, the number of failed stores is a mystery. Only the Shopify authority has this knowledge. Even if Shopify discloses this information to the public, you shouldn't be scared. By following some guidelines, you can have a successful online store on Shopify.
Providing the customers with a unique experience is the best way to do it. It isn't much different than maintaining a physical store. Good customer experience, affordable price, and reputation can be the difference maker. Besides these, a competent website and appropriate content marketing are of utmost importance.
If you are looking for comprehensive and clear-cut data on how many Shopify stores succeed, there is no straightforward answer to this. Also, if you are thinking of making a decision judging from the success rate of others, you are making a mistake. Let's talk about it in more detail.
There are no numbers as to how many Shopify stores succeed or fail. This data is in the hands of Shopify authority. Shopify never published any data regarding this issue. You will often see here and there that 90% of Shopify stores fail, only 20% of Shopify stores succeed, or something like that.
Any of this information is not feasible and completely vague. And also, the definition of success is different for everybody. A failed Shopify store doesn’t necessarily mean a failed entrepreneur. Someone who has failed in Shopify may already own several successful businesses.
But, we can get an idea of how well Shopify Stores are doing by looking at Shopify’s gross merchandise volume. In Q1 of 2021 it was 37.3 billion dollars. More than double of what it was a year back. So, you can imagine that Shopify stores aren’t doing too bad for themselves.
The secret tip for succeeding on Shopify isn't really a secret. It's the same as any other online platform; even the same rules apply to physical stores. Let's take a look at some fundamental tips for success on Shopify:
Customer experience can make or break your business. The success of any business revolves around the customers. How they feel visiting your site, how convenient it is to browse products on your e-commerce site, page loading speed, etc., everything bears an impact on your store's performance.
Not just the fundamentals; aesthetic and visual pleasure also play a huge role. Quality design, pleasant color themes, simple homepage; all these may seem insignificant, but are equally important. Ensure the site is easy to navigate and checkout and free of annoying pop-ups to give the customers a blissful experience.
Keep the price low. People won't buy anything from your store if the price is out of their reach. If a product similar to yours is available at a lower price elsewhere, there's no reason to buy it from your store.
Research the e-commerce market thoroughly before putting a price. Make sure the price is competitive and, at the same time, brings you profit.
Transparency is essential because it's seldom seen. Be honest and expressive about what your store offers to the customer. Clearly mention the terms and conditions so that potential customers can see them before checking out.
Also, state all the pricing and charges honestly and openly. Nothing is more irritating than finding out about hidden costs after choosing a product. Put yourself in customers' shoes and design your site and business model accordingly.
If your store has a good brand image, you will automatically gain customers. An excellent way to do it is to add positive customer reviews on the product page. It can be a screenshot from your social media page or a link to Trustpilot etc. Social proof can be anything like user social proof, expert social proof, or certification.
Days where a computer was the only way to access the internet are long gone. Most people now surf the internet using smartphones, and why wouldn’t they? Mobile phones nowadays have everything that a computer offers. It's portable, more convenient, and easier to use.
So, design your store keeping the mobile users in mind. Make sure the store is easy to navigate, read and search products from smartphones. Also, if you can manage a mobile wallet as a payment option, that would be great for mobile users.
People steer clear of fishy websites, and rightfully so. Purchasing online involves sensitive information like card numbers or bank account details. Scammers can make good use of these to steal money.
So always make sure your website is safe and secure for the customers. Update SSL certificate frequently and feature secure payment methods. A customer shall only enter payment details if they are convinced. Make sure of that.
Proper marketing is the key to draw customers to your store. Well, optimized content marketing, email marketing, social media marketing, and SEO are unparalleled for your store's success. Many store owners disregard this important aspect and in turn, don’t see a glimpse of success.
Marketing is the only way to reach your customers. Most of the customers come to know about your store from an article published on a website. Or it could be from a YouTube ad, social media ad, or email marketing.
According to statistics, only one-third of visitors on a webstore are returning customers. The remaining two-thirds are new and likely never to revisit your site. How can you draw the attention of such a massive number of customers? The answer is content marketing.
A new customer is likely to forget about your store within an hour. Then, he will see your store again on an affiliate site, spend time thinking about your site, and be likely to forget again. As this cycle continues, the customer will make up his mind to visit your store to see what you have to offer.
This persuasion is the key to bring customers. Besides affiliate marketing and advertising, marketing through ambassadors and influencers is also becoming a thing these days. With our Ambassador Affiliate Marketing app, you can easily establish and manage your affiliate programs.
The best part of this app is that you won't have to interact with any influencers. Your store will run on autopilot. Our app automatically sends email and manages spreadsheets so that the ambassadors interact with your store. This app also generates discount codes automatically for influencers to share with their followers.
You will receive email notifications whenever an ambassador or influencer makes sales. They can also withdraw their affiliate payment from the portal. You can also set different tiers for different ambassadors based on their performance. Install our app right now if you are new to the Shopify store and looking to boost your sales.
Shopify offers top-notch features for aspiring entrepreneurs who want to have their own online store. Don't think about how many Shopify stores succeed and how many have failed; focus on how you can come out on top. Try to read the customers' mindset and figure out what they want. Aside from this, full-scale affiliate marketing can make your store a crowd favorite.
Thanks for reading. And I hope this article was able to provide an answer to all of your curiosities. Until next time, farewell.