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Do you sell your products in a brick and mortar store, or online?
With more and more commerce moving online - particularly with there cent spread of the Corona Virus which may push traditional retail online - now is the perfect time to dive into eCommerce benefits.
In short, Ecommerce businesses have many advantages.
They require less investment compared to traditional retail. And eCommerce entrepreneurs have a higher potential of expanding their business.
Studies show that e-commerce sales have grownatan impressive rate of 10% each year in the United States. If you are thinking of venturing into e-commerce, below are some ofthe ways you’ll have an advantage over traditional retail.
Looking to get your eCommerce store off the ground? Find out more about these popular eCommerce platforms:
With your retail store operating on the internet, it will be a business that stays open round the clock, throughout the year.
Asa result, your prospect of having more orders are better because customers can shop at any time, even in the late hours of the night.
Imagine getting leads and sales while you sleep?
eCommerce can make that a reality!
Retail shops depend highly on their brand image and customer relationships to survive and thrive.
When foot traffic is poor, so is business.
However, with your own online retail store, the traffic needed for lead conversion comes from various sources. With93% of online experiences starting with a search engine, people use search engines to find what they need. Which means you’ve always got access to traffic.
As such, your customer base is diverse as new and different people find and follow links to the e-commerce site.
With e-commerce requiring less investment, you don’t have to break the bank to get your business running.
The costs of marketing and advertising are manageable since this can be d one via social networking sites and pay-per-click advertising. Other overheads are also reduced when you take your store online.
And with much of your operations automated, the costs or running the business are less given that the number of employees required is reduced.
Even better, issues of product placement and awareness are also less of a hassle because they can be show cased online.
Win-win!
Given the fact that every customer is unique and has different needs, it can be hard for retail store owners to care for the diverse needs and expectations of their audience.
However, things are very different when it comes to e-commerce stores.
Products will have a description that browsers will crawl through for search purposes. In some cases images may be interactive, helping increase conversion rates.
The eCommerce team behind ExtremeBrown explains “ultimately people are able to make purchasing decisions without leaving home, which is simply not possible for brick and mortar stores. Our online store also allows us to explain the benefits of each product in a way that a sales assistant never could in a traditional store.”
In the digital age, by giving people everything they need to know about your products, you’ll see greater levels of engagement and sales.
If you have a physical outlet, then you can provide localized services and sell your products with your location.
But with an Ecommerce option, you’ll have zero geographical restrictions. You can reach out to and penetrate the market on a global scale if you want. Interested in targeting specific regions around the world? That’s on the table too!
And if you are using a mobile-friendly website for your Ecommerce store(which you 100% should be) then your prospects of market dominance are exponential.
In most retail shops, customers push a shopping cart around as they search for what they need and then proceed to the payment point.
In short, eCommerce stores trim the fat and let people go straight from browsing to buying without leaving the couch!
Customers get to browse through the available products by a click of a button. HypnotherapyCanberra expert Ilona Nichterlein explains that this speed can actually boost conversions. She notes “searching for what is needed removes the friction of a potential purchase. Studies from Harvard have shown up to 95% of purchasing decisions are unconscious. Features like a time-sensitive sale price or a simple navigation can help you tap into the subconscious of your site visitors.”
And with the ability for some sites to note customer preferences, the shopping experience is enhanced for those that make repeat orders.
While all these advantages of eCommerce are valuable, nothing beats convenience.
The convenience that comes with shopping online cannot be overstated when compared to the conventional way of shopping.
You can attract more customers and increase the sales through deals, coupons and offers that are a few mouse clicks away.
Everything is done without negotiations or other hassles. Super simple and super effective.
Are you looking for an eCommerce solution to grow your business? Chat to the team from Avid Brio today!