As the eCommerce market continues to flourish, opening an online store has never been more appealing. With US online sales reaching an estimated $268.1 billion in the first quarter of 2024 alone, the potential for success is significant. But when is the best time to launch your online store? The experts at Wix.com have crunched the numbers and revealed some valuable insights.
Best and Worst Months to Open an Online Store
Based on an analysis of monthly search data for top online stores across five major retail sectors in the US, November emerged as the prime time to open an online store. Searches for top brands surged by over 30% from October to November, driven by Black Friday and the start of the holiday shopping season. December followed closely, with only a slight drop in search volume, maintaining high consumer interest through Christmas.
Conversely, February is the least favorable month to launch, seeing the lowest number of searches, followed closely by October. This suggests that consumer interest wanes during these periods, making it a less opportune time for new online ventures.
Sector-Specific Trends
Interestingly, not all sectors follow the overall trend. For instance, online home stores peak in May, with searches increasing by over 25% from January to May. Home Depot and Lowe’s particularly benefit from this late spring/early summer surge as consumers focus on home improvement projects.
In the tech sector, Apple defies the typical November and December peaks. The tech giant sees a significant spike in searches in September, coinciding with new iPhone releases. Searches in September are nearly 50% higher than the average for the rest of the year and 22% higher than the November peak.
Fashion retailers also show unique patterns. ASOS, for example, sees its highest search volume in April, while December, contrary to the general trend, is its lowest month for searches, 25% lower than April’s peak.
Expert Advice for Starting an Online Store
The experts at Wix.com offer essential advice for those considering launching an online store:
- Know Your Target Audience and Market: Understanding your audience’s behaviour and needs is crucial. This knowledge guides decisions on product design, marketing strategies, and website experience.
- Decide What to Sell: Use your understanding of the market to choose products. Consider popular trends, untapped markets, and practical factors like manufacturing and shipping.
- Create Your Store: Choose an eCommerce platform based on features, scalability, and security. Decide whether to partner with a dropshipper and set up payment providers.
- Build Your Brand: Develop a strong brand identity with a unique name, domain, logo, typography, and color palette.
- Design Your Store: Focus on consistent branding and optimize the site for sales. Implement marketing strategies to drive traffic to your store once it’s ready.
By keeping your consumers in mind and planning diligently, you can set up your online store for success. For more detailed insights on how to start an online store, visit https://www.wix.com/blog/how-to-start-an-online-store
