How to Open an Online Accessories Store?

How to Open an Online Accessories Store?

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In 2020, the online sale of accessories reached US$15.8 billion, giving a boost to the increase in business and making many entrepreneurs seek to invest in an online store.

In the same year, considering the e-commerce market as a whole, we had a growth of 41%. And the positive tide continues, with the first quarter of 2021 already surpassing the revenue of the same period in 2020.

With this wave, several people started to undertake digitally, not only to surf the trend, but to take advantage of the business opportunities of the online market.

But, to be successful in this market, it is necessary to understand how to open an online store and the dynamics of accessories sales in the country.

In this sense, to help you mitigate common mistakes made when opening e-commerce, we have listed some tips for you to have a successful accessories store.

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The accessories market in the US.

As mentioned in the introduction, e-commerce data points to a field full of opportunities.

A study carried out recently, for example, mapped more than 50 market niches that could be explored in online sales.

Among these, the accessories and fashion categories stood out the most in terms of the number of purchases made in 2021.

In the first quarter of this year alone, 78.5 million online purchases were made, of which fashion and accessories took the lead, representing 16.5% of orders placed.

The numbers, of course, are very promising for those looking to invest in the field, and they do not stop there.

A Google search showed that 3 out of 4 people buy fashion items and accessories online.

In addition, with the increase in sales on social networks (from Instagram to Facebook), for example, and the opportunities for advantageous shipping in the digital environment, consumption tends to grow, and the benefits of creating an online accessories store only increase.

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Types of accessories for sale in your online store

Accessories are the icing on the cake of every look, and there are a number of niches you can invest in when setting up your online store.

It is worth mentioning that you can either focus only on a niche, or bet on different product categories.

#01. Jewelry

The jewelry market is very strong in the US and is expected to grow by around 9% in 2022.

In addition, there is a whole variety of items that you can invest in your e-commerce – from handmade to those bought by resellers.

Its low price is also great for those who have little initial investment. In addition to being able to take pictures, you will be able to perfect your store’s catalog.

#02. Glasses

Glasses are other accessories that don’t leave people’s heads. Vintage, modern, futuristic, all styles are always on the rise.

In addition to being useful in protecting against sun rays, many buy them to reinforce their style.

In addition, their frames can also be used with prescription lenses, which makes glasses a part of many people’s routine.

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#03. Bags

Ecobags, travel bags, backpacks, shoulder bags, these items, in addition to being part of the fashion market, are extremely functional.

Whether a child or an adult, everyone needs a bag to store and protect their belongings.

In this category, each item opens up different market niches. Research what you like the best and invest with planning.

Through Google itself, you will be able to follow trends in this market, and use Analytics to refine your search.

#04. Hats

Another social media craze is hats and caps.

Timeless accessories that gain new prints, colors, and styles are another interesting niche to invest in.

The interesting thing is that you can invest in this niche by also working in other markets, such as online clothing and T-shirt stores.

By putting these strategies together, you will be able to expand the audience that your online store can reach.

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#05. Cell phone accessories

Just as clothing accessories never go out of fashion, cell phone and computer accessories are still on the rise in the country.

Chargers, cell phone cases, speakers, ring lights, tripods, are some of the accessories that are in high demand.

#06. Women’s fashion accessories

Finally, the women’s fashion niche could not be missing from our list, and setting up an online store aimed at this segment can be an excellent strategy.

After all, we are talking about one of the main niches of e-commerce partners and one that has a decisive participation in its results.

Again, you can specialize in certain items or have a store that targets different audiences and consumer profiles.

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How to open an online accessories store and earn money?

Opening an online store is not a very different process from physical stores. Although e-commerce regulations are different, in some ways, you will also need a lot of planning to succeed and make money safely.

In this sense, here are some steps to open your online accessories store

Step 1: Defining a product

In the previous topic, we indicated several examples of accessories that can be sold in e-commerce.

To define the product, it is necessary to think about some questions, such as:

1. What could I produce?
2. What would the production cost be?
3. What could I resell?
4. Who would be my supplier?
5. Which product is more cost-effective?
6. Which product, at the minimum sale, would be able to maintain the costs of the store/production?

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These are some questions that can help you in defining the product, marketing strategy, and even in the logistics sphere.

Step 2: Analyzing the Target Audience

After defining what will be sold, we move to who will consume the products in question.

To find the target audience, it is necessary to think about which platform to use. Social networks, marketplaces, Google searches.

In addition to thinking about the profile of this audience, how to communicate with them is also part of the planning.

So, create a good visual identity, or brand, and bet on tools that will help you reach customers.

In addition, the value proposition, as well as good service, and user experience (UX) in the online store, are crucial factors to differentiating you from the competition.

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Step 3: Hosting the Online Store

Now that you know what to sell and who to sell it to, let’s go to where we can host your accessories store.

In this part of the planning, points such as platform cost, reach, audience, and maintenance; everything must be taken into account.

For example, a Facebook or Instagram store doesn’t demand the same maintenance energy as a website. Sales on websites can be easier than on marketplaces.

In any case, the good experience of consumers must be taken into account. Therefore, opt for platforms that allow you to customize and have autonomy over your virtual store.

Wix, for example, is a free platform for online stores with all the resources for structuring and optimizing your e-commerce sales.

Check out the benefits that Wix offers you:

1. You will be able to distribute your products in the main logistics channels in the country;
2. Set up a store with attractive usability and visual identity;
3. Count on the main means of payment;
4. Publicize your contact channels on social networks;
5. Have financial management, cash flow, and bank reconciliation tools.

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How to boost your accessories store's results

#01. Marketing planning

The marketing planning of a virtual store is very important and this also applies to e-commerce of accessories.

After all, it is from this that strategies to reach customers and guarantee sales will be determined.

The strategy consists of determining marketing actions, for example, creating a giveaway on Instagram, or promoting paid campaigns to generate leads.

In addition, the planning also determines how the actions are implemented in social networks, the multichannel or more centralized focus; and the verification of results will be analyzed.

The data collected will serve as a basis for future decision making, mitigating possible challenges and bringing more returns and profits.

#02. Logistics

Online sales have, among their advantages, the possibility of reaching people from various places all over the world.

However, this advantage needs attention to logistics, a factor that impacts the company’s profit, quality of experience, and the final cost for customers.

In this sense, seek to understand more about the logistics and freight processes and how logistics increasingly assumes a decisive role in e-commerce.

#03. Stock

The lack of a product in stock is a loss of a sale, in addition to making it possible for the customer to never come back.

Therefore, inventory control must be done frequently so that your online accessories store is managed efficiently.

In the case of own production, it is important to establish the time for production, as this data will help to keep the stock always stocked.

In cases of resale, the search for reliable suppliers that meet deadlines is extremely important. Thus, your store can maintain consistency and quality.

Conclusion

In summary, creating an online accessories store is a good business opportunity to boost your sales.

There are several products and market niches that can be explored, in addition to being items that are part of people’s daily lives.

Finally, just like any other venture, planning is essential for e-commerce success. There are many challenges, but also opportunities to keep an eye on.

With that, be sure to follow good practices for the positioning of an accessory store, learn strategies to avoid making mistakes in e-commerce, and invest in a unique experience for your customers, aiming for long-term growth and success!

Well, that’s it. We’ve got to the end of our article: How to Open an Online Accessories Store?.

We hope that you enjoyed reading this article and found some helpful advice from it.

Feel free to comment and share this post.
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