STARTUPS: So many travel startups are focused on the product or partnership side of what they do that some of the core elements of running an ecommerce site are often put to one side. Throw in the distraction of looking for investment and many small teams just don't have the resources to make a business work. A startup will not go anywhere if it doesn't keep one on the basics of running a web company. Read more on Entrepreneur.
Consumers have overwhelmingly embraced online shopping.
According to a recent UPS study, 70% want to shop their favorite retailer digitally. As a result, the category is seeing huge gains and growth annually.
We’re seeing more ecommerce companies launch each year to take advantage of this migration, many in new categories – art, electronic cigarettes, mattresses, etc. – that were previously relegated to brick-and-mortar retail.
While a handful manage to be successful ventures over the long-term, 75% of the time these startups unfortunately fail.
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NB: Startups image via Shutterstock.