On behalf of Thaler Law posted in business formation on Thursday, January 24, 2019.
One area that has seen a lot of growth in recent years is online retail. Estimates point to ecommerce having hit $2.8 trillion in global sales revenues in 2018. And continued growth is expected.
The opportunities ecommerce can provide may draw entrepreneurs here in California to consider starting an online retail business.
When entering the ecommerce field, there are many things it can be important for entrepreneurs to stay aware of. This includes what the current major trends are in the online retail industry. Such awareness can allow an owner of a new ecommerce business to develop strategies for how best to react to these trends to put his or her company in a strong position to compete.
A recent article on Forbes’ website identified some trends that could be significant ones in ecommerce in 2019:
- A move towards more big data use by small retailers
- Growing AI opportunities for ecommerce companies
- Customer personalization being of high importance
- Increased expectations among online consumers for excellent customer service
As entrepreneurs take steps to adjust to trends in the industry they are starting a business in, it can be important for them to carefully address any legal issues connected to these steps. When starting a business, missing an important legal issue can cause a lot of problems. So, when taking steps related to starting an online retail business, such as steps related to adjusting to current trends, entrepreneurs may want to talk with a skilled business lawyer to get a clear picture of what legal issues might arise and what can be done to handle such issues.