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Can You Still Make Money On The Internet?
(I mean, look at the Dot-Coms...)
You've heard of
enough bad news. Economic downturn, dot-com fallout, weak stock market,
all the online scams...Some people just don't believe this
"e-business" kind of thing any more.
But before you
walk away, I want you to think about something for a moment. Did you know
that between 1998 and 2000, Online Shopping
Within US Grew A Staggering 580%? It's true.
Forrester Research reported growth from $7.8 billion US in 1998 to $45
billion US in 2000. And online sales reach $5.7 billion in December 2001,
- up 14% from December 2000, in spite of bad economy.
You can read
more detailed and latest report here.
And I don't think Singapore is an exception.
Now think about
this. Online consumers couldn't care less about the dot-coms dropping off
the Web. More and more people are coming online to shop, and the number of
purchases that they're making each year are continuing to increase. Those
new to e-shopping are making 9 purchases a year and those with more web
experience (5+ years online) are making 20 purchases a year.
So what's going
on? Online spending is growing at fantastic speeds. e-Shopping is becoming
a routine part of consumer life. Yet all we're hearing about right now is
failed dot-coms. One by one, companies like Furniture.com, Pets.com,
MotherNature.com, Toysmart.com, Living.com, Mortgage.com, Garden.com,
etc...have closed their doors, and each time the pink slips are handed
out, the media has a feeding frenzy. Feature stories promising easy wealth
and overnight success have now turned into the dot-com obituaries. It's
enough to make your head spin.
And that's why
these statistics I've just shown you are important. Obviously the whole
story is not being told. If online shopping has reached 5.7 billion per
month, all of this money must be lining someone's pockets.
A large portion
goes to small businesses who sell
unique products directly at their web sites!
Small is a big
advantage. Big businesses dominate the traditional business world. The
Wal-Mart's and Microsoft's have steadily forced smaller businesses out of the way. Not so on the Internet. Three out of four
Internet businesses are very small, often only one person working from
You can find
many direct sales web sites popping up online everyday. Some will fail.
The ones making money all have something in common:
focus on a
well-defined, easy-reachable niche market
unique product or have a unique selling proposition
effective web site promotion
There is still
plenty of room for new businesses on the Internet. Now is an excellent
time to be starting or promoting your e-business. Now you can take advantage of
your competitor's hesitation at this dramatic turning point and scoop up your share of the market!
Feel free to use this article in your
publication or web site.
It's pre-licensed to you.
The only requirement is to include this resource box:
Article by Zac Hewlett at
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