If you are a retailer, you have probably asked yourself this question at one time or another
Why should I invest my time and resources into developing online sales channels?
The answer to that question is fairly straightforward and easy to comprehend: More options (for you as a retailer), more customers, and lower costs in proportion to revenue.
Instead of going on about these advantages at length we have instead split them up into four easy to understand points.
Shoppers Prefer Online Stores
According to Wipro digital, over two-thirds of American shoppers made their purchases exclusively through online channels last year.
Even those who did not still admitted that they use the internet to check prices before buying any product from a brick and mortar store.What does this mean for retailers exactly? By establishing an online sales channel and keeping it in good working order,
What does this mean for retailers exactly?By establishing an online sales channel and keeping it in good working order,
By establishing an online sales channel and keeping it in good working order, retailers can expand their reach and potentially attract customers who would normally have avoided their store altogether.
Shoppers Like to Buy from Local Stores that Have Virtual Storefronts
After reading the first point you may be concerned about how you will be able to compete for those online only shoppers with the more established online retailers.However recent data from UPS suggests that those fears may be unfounded, as 93 percent of online shoppers expressed a preference for “small and local retailers” when deciding where to purchase their goods. A little less than half also enjoyed buying from stores that allowed in-store pickup as well.
However recent data from UPS suggests that those fears may be unfounded, as 93 percent of online shoppers expressed a preference for “small and local retailers” when deciding where to purchase their goods. A little less than half also enjoyed buying from stores that allowed in-store pickup as well.
A little less than half also enjoyed buying from stores that allowed in-store pickup as well.
Having an Online Presence Can Give You the Edge You Need to Compete
Simply put, your store is already better than most giant retailers. You provide more personalized service and probably better pricing.The only edge they have right now is that they have access to way more customers by way of their website. A properly developed eCommerce strategy for your own store can help to negate this advantage by giving you the ability to reach those same customers who, as previously stated, often prefer shopping at stores like yours anyways.
The only edge they have right now is that they have access to way more customers by way of their website.A properly developed eCommerce strategy for your own store can help to negate this advantage by giving you the ability to reach those same customers who, as previously stated, often prefer shopping at stores like yours anyways.
A properly developed eCommerce strategy for your own store can help to negate this advantage by giving you the ability to reach those same customers who, as previously stated, often prefer shopping at stores like yours anyways.
Controls Costs While Increasing Revenues
When you increase the size of your business, whether by opening a new location, moving into a bigger space, or simply by hiring more employees, you are going to incur some very large expenses.
Expanding online is far less costly, both in terms of time and money while also potentially producing huge revenues. This, of course, translates into the possibility of much higher profits.
There is also the issue of taxation. Many taxes that affect brick and mortar retail stores do not apply to online stores. This can result in significant savings for your business.
