Next, let’s look at what you need to set up your online shop.
Shop system
In general, there are three types of shop systems you can choose from as an online retailer:
Modular SaaS solutions: With a modular SaaS solution, you rent a fully functional shop system with ready-made design templates. This enables you to easily build an online shop without any prior experience. Web hosting is usually included, as well as the most important interfaces. This is an easy all-in-one solution, and the monthly price usually ranges from €10 to €200.
Open-source shop systems: These are professional shop systems. They’re usually available in a free community edition that gives you a strong foundation for customisation and expansion. However, setting up your shop will generally require some programming experience or a budget that enables you to hire a web designer, programmer or agency. Depending on your requirements, it will usually cost at least €5,000 to set up your online shop using an open-source system.
In-house development: Large companies with big budgets often program their own custom-built shop system designed to meet their own specifications. In that case, the online shop is individually built from the ground up. The development costs for this type of solution can easily run into five or six digits.
Here are some of the most common providers of the first two categories of shop systems:
Although a SaaS system allows you to get started quickly for a minimal cost, its functionalities are generally limited. This is why open-source systems are the best choice for running a professional online shop in the long term. Some of the advantages of open-source shop systems include:
Few limitations in terms of technical possibilities
High flexibility and scalability
Better customisation in terms of design, functions, etc.
Security standards
Not offering the right level of security can have a devastating effect on your company’s reputation, as well as high financial costs. That’s why it’s important to always choose a shop system that complies with the latest security standards. These include measures such as two-factor authentication and SSL certificates. Secure shop systems encrypt the data that is transferred from your customers’ device to your server and keep it safe from unauthorised access. To learn more about the latest security standards and how to keep your online shop safe, be sure to check out our article on Online Shop Security.
Compliance
Online shops that do business in the UK must adhere to specific legal requirements. For instance, your website may need to include information such as:
Publishing information (the name and address of the website publisher)
Privacy policy
General terms and conditions
Returns/cancellation policy (right of withdrawal)
If you fail to comply with these legal requirements, you may face expensive fines. That’s why it’s important to familiarise yourself with all the legal requirements when setting up your website. Consult a legal specialist for the details that apply to your situation.
Inventory management
When you first start out, you’ll probably only have a few orders and transactions to handle. Bookkeeping, inventory management and CRM will still be relatively easy to manage at that stage. But as your sales increase, details will become harder to keep track of. That’s the point when many online shops run into difficulties with maintaining proper bookkeeping and inventory management.
That’s why it’s crucial to work with proper inventory management software from the very beginning. Above all, your inventory management software must be integrated directly into your online shop, in order to avoid double bookkeeping.
Payment methods
The payment methods that you offer your customers are another important aspect to consider. Different target groups expect to be able to pay using their preferred payment methods. This is why it’s best to offer a mix of payment options. Especially when shopping on a site for the first time, customers prefer to use a payment method that they already know. With Mollie, you can easily incorporate all common payment methods into any online shop—all with just one single integration. That means you spend less time working on integrations and still enjoy maximum payment security.
Usability
It’s important to give your online shop a user-friendly design from the very beginning. This includes:
Thoughtful website navigation
Attractive design
Customer-focused usability
Optimised mobile display
Fast checkout process
You can use A/B testing to quickly find out which design features work best for your target groups. It’s also important to remember that your load time has an important influence on the user’s experience. You should choose a shop system that’s powerful enough to ensure a smooth process, even as your online shop grows. If your load speed begins to deteriorate, visitors are likely to ‘bounce’ (leave your site immediately without making a purchase).
