Why You Need To Move Your Brick And Mortar OnlineAug 15, 2021
In the past few months, people’s buying habits have drastically changed. So how does it affect your business? Due to the pandemic, 52% of consumers are avoiding crowds and 32% are staying inside their homes more often. Therefore, brick-and-mortar retailers are having a difficult time keeping their businesses alive.
Although you may find it too risky to open a new sales channel during these uncertain times, it can actually be a wise move for your business. The pandemic has made it clear that expanding into e-commerce is key to ensuring that your business is doing everything to attract consumers. So if you’re thinking of adding an online component to your business, then let’s talk about the benefits of having an online store.
The Perks of Moving Your Physical Shop Online
It Helps You Meet Customer Expectations
Remember, your customers want what they want, when they want it. However, it can be hard for a brick-and-mortar establishment to meet those demands, whether it’s due to health protocols or simply having regular operating hours. When you have an online store, it offers customers convenient, 24/7 access to all your products or services -- without leaving their homes.
Likewise, customers want to get answers fast. No problem. Address their questions or concerns outside of standard business hours by setting up various channels for customers to contact you via 24/7 customer care lines, Facebook, chatbots, or email. Furthermore, customers would love to make personal connections with you online, and you’ll have the means to earn their trust by serving them every time they want to shop.
It Allows You To Expand Your Reach
As mentioned above, part of connecting with customers is going where they like to be, which is online. Likewise, creating an e-commerce store lets you connect with new customers and new markets all over the world. Not to mention, cross-border e-commerce is going strong right now and is showing no signs of slowing down. Global online sales are expected to reach $4 trillion by 2025, and brands who expand online can take advantage of the most active places for e-commerce, like Japan, Brazil, and China.
It Helps Reduce Costs
Every business wants to have high profits. Yet, it can be challenging to do if you have a lot of overhead expenses, like paying rent and utilities, purchasing and storing products, and buying store fixtures and office supplies. So by moving your physical store online, you reduce your overhead costs. Some huge retailers can even operate from their homes, contracting drop shippers to offer a wide array of merchandise without having to invest directly in costly inventory that has to be kept in and shipped from a warehouse.
It Helps You Stay Competitive
Although many people will always shop in physical stores, there’s no doubt e-commerce is becoming more popular than ever. According to last year’s statistics, an estimated 1. 92 billion consumers purchased goods or services online. However, if you’re still selling exclusively via brick-and-mortar stores, you’re missing out on getting your share of the estimated $3.46 trillion shoppers spent worldwide online last year.
So why not take advantage of this shopping trend and launch your brand online? It will allow you to expand the reach of your store to consumers outside your local base and it makes you stay competitive in today’s growing e-commerce industry.
Do you still need more convincing? Here are some more amazing benefits of having an e-commerce store:
- It allows customers the ease of shopping from home or on the go.
- You gain sales outside of your local area - shoppers who don’t normally visit your store can find it online by searching for products you sell.
- You gain relevant information about customers and sales. You can use it to grow your brand and create a more pleasant customer experience.
- It decreases the financial impact of COVID-19. Even if you have temporarily closed your physical shop, you can still earn through your online store.
- No more worrying about the cost and time required in finding a physical storefront.
Despite the pandemic, you can still continue selling your products through e-commerce platforms. The key is to make sure that your customers have a fun and convenient shopping experience so they will repeatedly shop in your online store.
Need help in launching your business online? Book a free consultation with one of our e-commerce gurus here.
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