Given the latest statistics which report that global retail e-commerce sales will hit $4.5 trillion by 2021, it’s clear that there’s no need to hesitate and baulk at the idea of starting an online shop. The fact that 80% of the online population have purchased something on the internet at least once is another good point that goes under the “pros” section. If you’re running a brick-and-mortar shop, there’s no better way to expand your reach and increase your customer base than starting an e-commerce. Still, if you’re having second thoughts over the feasibility and profitability of such an undertaking, here are a few more reasons why you should establish an online presence and capitalize on it.
Setting up and launching an online store has never been easier, as there are lots of e-commerce tools that you have at your disposal. One of the best options that you can go for is selling from your own website, instead of opting for one of numerous e-commerce solutions. That way you can be in control of your own business, and it’s much easier to stand out if there aren’t hundreds of other similar online shops that are listed next to yours on each of those e-commerce platforms. Another extremely important detail is that you’ll be able to have a unique, custom website design, optimized to match the requirements of your business. You should also think about the visual appeal of your online business, and avoid cluttered and cramped pages. So, if you consult professionals from Quikclicks, you can be sure that your e-commerce store will be both attractive and functional.
It’s open 24/7
Why would you limit your customers by allowing them to make a purchase only during the opening hours when you can go the extra mile and let them order what they want whenever they feel like it? This basically means that you can sell and make money even when you’re sleeping. Let’s not forget that people are very busy nowadays and that they often don’t have enough time to visit physical stores, so it’s an amazing idea to provide them with this time-saving option to buy from the comfort of their own homes. According to some surveys, 67% of Millennials and 56% of Gen Xers prefer online shopping to visiting brick-and-mortar stores. This doesn’t mean that your target audience can’t consist of Baby Boomers and senior citizens since 41% and 28% of them respectively enjoy the benefits of e-commerce websites.
It’s all about location, location, location
Everybody knows that the location of a physical store is essential for its success. Still, not everybody can afford a retail space on Fifth Avenue or Champs-Elysees, while a well-picked domain name will make your online store globally visible and accessible. Instead of being confined to your brick-and-mortar store, you should think big and embrace the omnichannel approach that will help you reach your target audience in a manner that they find most suitable.
It lets you tap into the power of remarketing
Physical store owners can do nothing if a customer leaves without making a purchase. They don’t have the customer’s name, phone number, or address, and that’s it. However, e-commerce owners have several aces in the hole. If we bear in mind that the average online shopping cart abandonment rate is almost 70%, it’s comforting to know that you can actually do something about it. Sending follow-up emails shortly after a customer abandons their shopping cart and reminding them about the item they were interested in is a great way to re-engage the customer and change their mind. Basically, online store lets you keep track of the most important customer metrics, such as what pages they visit, how much time they spend on a particular page, or what items they put in their shopping cart. This online tracking is an actual gold mine of information that you can take advantage of to persuade your potential customers to buy from you.
It offers simplified logistics and distribution
You can forget about renting a storage warehouse or dealing with complicated details of shipping. Namely, running an e-commerce can practically mean that you can be a drop shipper. All you have to do is set up a store, list the items that you want to sell, and leave everything else to your suppliers, without having to keep the products you sell in stock. This basically means that all you do is take orders for the goods you have listed, contact the third party, that is a wholesaler or manufacturer, and let them take care of fulfilling those orders. The best part is that you won’t even have to see the ordered items or handle them. This kind of online store also doesn’t require large investments, managing inventory, or worrying about returns, and that makes it an excellent starting point for new e-commerce entrepreneurs.
Starting an e-commerce business can be the right move since the future of the retail industry lies in online shopping.