How to Start Online Shoe Business in 2023- A Basic Yet Important Guide For Success
Over the next seven years, the global footwear market is expected to grow at a rate of 3.62% annually. This significant annual growth makes the business idea of selling shoes a very lucrative option. But, is only an idea enough to start selling shoes online?
Many people become enthusiastic about starting their own business, but even the most passionate and hardworking minds fail at tackling a certain set of challenges when it is their turn to actually deal with selling and facing competition.
Well, all you need is the right guidance and the basics to get started with your venture. Rest, you learn and grow. So, here’s a guide on how to start your online shoe business in 2023.
Essential Requirements for an Online Shoe Business
Before you start with your online shoe venture, make sure your checklist of all the essentials is ready to create a strong brand identity.
1. A Compelling Name
People often make the mistake of keeping an obscure name in the name of being creative and out-of-the-box. The core idea is to settle on a name that strikes the right chord and is memorable. Today, there are so many business name generator tools available to help you with the name and brainstorming.
2. Business License
Just like the offline shoe business, running an online shoe store doesn’t exclude you from having certain legal requirements. The license you must have depends on your business requirements. In fact, some cities and states can have different requirements that you will have to keep up with.
Licenses necessary for an online shoe business are:
- Business Operation License: Permits conducting business in the city, county, or state where the eCommerce operates.
- Employer Identification Number (EIN): Identifies the business as a distinct tax entity.
- Seller’s Permit (or Seller’s License): Legally allows the sale of shoes online.
3. Brand Logo
The right brand logo can do wonders for your business. A well-crafted logo puts out the right message to your target customers. Don’t make it complicated; rather, be more simple and creative. It should communicate the very essence of your business in just one glance.
4. The Price
The price is the key to winning over your customers and leading the market. Is keeping a lower price the right thing to do? No! Is keeping the price higher the right thing to do? Absolutely not! Then what? It’s the right balance that would work. Choose the right price strategy for your business based on a number of factors like revenue goals, competition prices, business cost, etc.
Customer Expectations for Online Shoe Business
In order for your online shoe business to be a success in 2023 and beyond, where digital competition is terrifyingly massive, here’s what you need to be stronger at the very core of your business:
1. A User-Friendly Online Store
You must be aware that around 88% of the users never come back when they have a bad experience at a website. A huge number right? Well, there’s also a saying that “The Internet doesn’t give a second chance.”
Therefore, a website that’s not user-friendly is never going to make it to your potential customers.
The key is to make your customers find whatever they are looking for without any clutter or hassles. This can be achieved when your focus points are providing customers with segregated product categories, filters, clear pricing, and an easy payment gateway.
2. High-Resolution Pictures & Videos
Gone are the days when a single image of the product with a bulleted description would work. Today, customers wish to have an online feel for the products through pictures and videos. Shoppers want a comprehensive product image from multiple angles.
Your online shoe store requires high-resolution photos and videos that provide customers with an immersive experience, allowing them to feel the product rather than just zooming in on pictures. Ensure quick loading times for a seamless browsing experience.
3. Mobile-Friendly Experience
Every day, 45% of people worldwide use their phones to shop online, indicating that more than two in five individuals engage in mobile shopping. Therefore, a mobile-friendly user-experience can’t be emphasized enough
4. Return Policy
A return policy is the best way to create trust with your customers. So, make sure your online shoe store has a clear return policy.
The Expert Advice!
If you are trying to enter the online shoe selling market with the entire niche in mind, you might put your success at risk.
No doubt everyone today needs shoes. But targeting “everyone” is not as easy as finding the right fit and the right size. Especially as a newcomer in the ecommerce market selling something where competition is huge, the move is risky. Rather, deal in a niche product that targets a particular audience.
So, instead of “I want to sell men’s shoes,” try “I want to sell leather shoes, knee-high boots, sports shoes, etc.” Focus on a particular niche, and the chances of entering and making a mark in the market will be easier.
Effective Marketing Strategies for Your Online Shoe Store
You need to connect with your audience in order to let them know about your products and offerings. Therefore, curating a proper marketing plan can’t be underestimated in the digital era.
Content: Through engaging content, you let your audience know what’s trending and how your solutions can give a new angle to their footwear style statement.
Social Media: Keep your social media game strong. Connect and engage with your customers to form a personal bond. It also builds the trust factor.
Streaming Platforms: Utilize streaming to update your audience on exciting news and product releases.
SEO: Perform the right SEO so you reach your target audience at the right time by ranking higher on SERP.
Paid Advertising: Drive targeted traffic to your online shoe store through paid ads.
Sourcing Shoes from India with Zoglix
When starting your online shoe venture in any corner of the world, it’s crucial that you source high-quality shoes at competitive prices to get an edge over your counterparts. Zoglix is an online platform where you get access to a wide range of shoes from India. As a leading player in the market, Zoglix ensures that you find the right shoes to align with your niche and fulfill your clientele’s demands.
India is known for its rich tradition of shoemaking and offers a diverse collection of footwear, from classic leather shoes to trendy safety shoes and more. By partnering with Zoglix, you can tap into this vast market and offer your customers unique and stylish shoe options.
Starting an online shoe business in 2023 requires a compelling name, legal licenses, and a user-friendly website. High-resolution pictures, a customer-friendly return policy, and sourcing quality shoes from India with Zoglix are essential for success in the competitive marketplace. Focus on a niche product to stand out and thrive in the evolving online business landscape.