In the era of digitization and the Internet of Things (IoT), the online marketplace has become more interactive than ever before. And with the utilization of the internet, the door to a broad spectrum of avenues for e-businesses has opened and led to the online library business.
The conventional library model has become a victim of fast-changing consumer preferences and is on the verge of being rediscovered and remodelled in the form of an online library powered by technology.
Creating an online b2b book marketplace is one of the most promising and lucrative business opportunities for those who want to keep their passion for books alive and want to cater globally to a wide array of customers virtually. If you are thinking about how to start selling books online, well, keep scrolling to get your answers.
Why create a Virtual Library Store?
- Go Virtual: You don’t need to be physically present in a virtual store. You can run your business from anywhere, anytime. So, users can shop 24/7, whenever they find the time. Isn’t that a wow?
- Cost-Effective: You don’t have to pay a fortune for furniture, staff, rent, license, etc., to start your business. Instead, route the budget to marketing and creating a virtual library bookstore that will cost you much less than setting up a physical store.
- Easy Operations: With tech and digital advances, operating an online bookstore has become a piece of cake. You can effortlessly manage and handle the online store with the diverse plugins and intuitive interfaces available that makes everything easy to operate
- Global Reach: With the rise of Internet shopping, it has become easier to market your products globally and stock books of diverse languages from across the world.
- Recommendations and Feedback: One of the greatest benefits of an online bookstore is inviting recommendations and feedback from customers to gather necessary information and insight to increase your sales and credibility.
- E-Books: With the rising popularity of portable devices, e-books are soaring in popularity and demand. And since, physical book stores cannot sell electronic versions of books, this makes selling E-books a natural fit for your online bookstore.
Analysing Market Potential & Trends
Did You Know: Over 675 million print-books were sold in the US alone last year?
The online bookstore industry is one of the fastest-growing e-business industries. The statistics that speak volumes about the trends are quite impressive:
- According to Google India’s report, 90% of online shoppers buy products online, out of which, books rank as one of the top product categories purchased online with 62% online buyers.
- Over 70% of publishers in India have digitised their content to produce ebook versions.
- Selling books online account for 15% of the total e-commerce trade, after electronics (34%).
A step-by-step guide to creating a virtual library
Know the market
Before investing any amount, consult experts like existing booksellers, publishers etc., and get all the knowledge regarding the industry. Discover what niches are there that are left untapped and design your business model accordingly.
Plan your budget
It is essential to set your budget right and understand how you will be investing it right to reap the maximum benefits. At the initial stage, divert your budget to choosing the right b2b book marketplace and marketing your product on the right platforms.
Build Contacts with Relevant Book Publishers
Ensure to build strong contacts with everyone including publishers, wholesalers, distributors, fellow competitors, etc. While some publications deal directly with retailers, some only work through distributors. Choose your contacts wisely
Bigger Variety of Books Categorically
You can pick from a plethora of book varieties – academic books, law books, children books, competition books, medical books, general books, foreign language books, etc. It is an exhaustive and never-ending list. The more the category and variety, the more customers you attract.
Competitive Pricing Model
Set the price at a low-profit margin during your initial phase. To get the attention of customers, you can employ diverse sales gimmicks like discounts and rewards and ultimately expand your customer base.
Flexible Mode of Payment
For the users’ benefit, you could incorporate flexible modes of payment including wallets and digital payment which is now a common practice including Cash on Delivery. Ease of payment attracts more customers.
Be sure, you deliver the books on-time with intact packaging. On-time and safe delivery gives you very good publicity and increases your online traffic.
Market Your Business Idea
For efficient marketing, use social media marketing to drive organic traffic and reach out to maximum buyers and run promotions to attract buyers from across the globe.
Build an Online Store every Book-Worm will Love
An online book store has to be accessed online on a well-optimized website. Therefore, choose from top-notch online book store builders like Shopify, WooCommerce, 3DCart, JungleWorks, etc. to build b2b book marketplace that lets you furnish all the relevant information neatly like pictures of books, authors’ name, date of publication, selling price, etc. Choose an online marketplace that is compatible with all smart devices across cross-operating platforms.
JungleWorks is one of the most desirable e-commerce platforms that offer professionally-designed templates and empowers you to create an online store within minutes including must-have facilities like domain name, hosting, shopping cart, store manager, in-built marketing and everything you require to start your online bookstore.
To conclude, a streamlined and enjoyable buying experience always encourages buyers for purchasing and hence, we highly recommend JungleWorks which is cost-effective and helps you create a visually appealing online marketplace. Also, be sure to take all the factors listed above into consideration. With JungleWorks, you can take the customer’s shopping experience to the next level with a strikingly attractive and rich-feature marketplace.
Live your passion and love for books and start your online bookstore business today and leave the how-to start selling books online to us, with a single sign-up.
Reach us today to create miracles.