Small businesses have always had to compete with larger retailers for their customers’ attention. Larger stores can afford to have a larger selection of products and also carry more well-known brands. This is where an online store has the upper hand:Â Â
The process of moving your store online can be beneficial both in the short and long term. As long as lockdowns remain uncertain, operating your store online is still a viable method to generate sales, regardless of government restrictions and in-person activity.
And for the long term, you can continue your business with an omnichannel approach. With more than half of consumers requesting convenience, you can provide them with buy online, pick up offline services, and much more. Are you still confused, perhaps? Especially when things are starting to normalize, you may wonder why you need to take your store online now. Keep reading to learn why.
Statistical evidence speaks for itself–
There are tons of statistics that demonstrate the rise of eCommerce; however, let’s take a look at-
Table of Contents
7 reasons why you should take your brick-and-mortar store online
1. Cost-effectiveness
Shoppers will continue to shop in-store after COVID-19. However, they will be more inclined to shop online during this lockdown period. So while they’ll still go out to shop for items after the pandemic, shoppers will be more than comfortable buying things online. If you don’t move your brick-and-mortar store online, you stand the chance of missing out on this new normal.
Small businesses face the high cost of running a physical store. Depending on the contract, you may need to use the facility for up to a year. So, launching an online store is much easier on the wallet than opening a new brick-and-mortar location because there are very few overhead costs.
2. Open your doors to the world and get big
Online stores have made it possible for anyone to sell their products online. With a few clicks, you can make your business available to billions of people worldwide, increase sales, and skyrocket your revenue with little investment, while keeping taxes in mind when transacting for cross-border eCommerce. This will not only boost your business but also create a brand image in the online market.Â
3. Scalability
Websites that offer e-commerce give you the ability to determine which products are successful and increase the stock levels of those products. The website can be diversified based on these successful products to develop a broader range of products. You can increase your assortment size from hundreds of SKU to thousands of SKU without keeping higher inventory to display at shelves with lower investment in inventory.Â
By doing this, you will be able to grow your profits, customer base, and sales. A substantial component of Amazon’s success has been its ability to expand its product line and monitor closely what sells to its customers. As a result, they have significantly diversified into a wide range of sectors.
4. Data insights to create targeted communication around sales
By having a clear example of what products your clients are buying, you can target their interests through communication and marketing. You can also use this information for planning sales, offers, and discounts on products and services. Keep this information all online so that these conversations don’t cut into valuable office time during the client’s appointment.
5. Helps Increase Brand Credibility
The brand awareness of consumers measures their familiarity with the brand. Any identifying characteristics associated with a brand include its name, logo, jingle, etc. With today’s digital literacy rate, customers research online first, whether they buy online or in-store. An online presence makes it easier for customers to find your product information and make comparisons. When they do a product search online, you want to be listed among the top results. Furthermore, it also helps in creating brand legitimacy.
6. Round-the-clock sales
It is no secret that the retail industry has transformed into a 24/7 industry in the last two decades. By relying exclusively on a brick-and-mortar store, you are missing out on the opportunity to make sales while you sleep. The best part about eCommerce is that you don’t have to stick to standard operating hours, be present at all times, or hire extra staff. With the right eCommerce platform and a solid content and sales strategy in place, your products can pretty much sell themselves.
7. Increased customer satisfaction
With omnichannel dominating the eCommerce industry, shoppers want options, and demand convenience. The key to customer satisfaction and strong brand loyalty is to give your customers a choice over when and where they interact with your products.
When you provide your products and services online as well as in-person while maintaining a consistent brand identity, and when you offer options in terms of payment, shipping, and pick-up, you allow consumers to shop with you according to their needs. And let’s be honest, who wouldn’t want that? Having an online store would just be the right thing to aid customer satisfaction and create a loyal community around your brand.
Retail isn’t dying; it’s evolving
How do you feel about the future of brick-and-mortar shopping? It is not going anywhere, but it is knotting the ties with the digital stores to reap maximum benefits of serving customers everywhere. Because consumers still need to be able to examine, touch, and try products in person. Additionally, they expect complete and utter flexibility from today’s retailers, who must deliver an omnichannel experience in whatever channel or medium they are in.
Would you like to meet the demands of modern consumers? With our omnichannel solution, you can bring your business online, give your customers the experience they’ve come to expect, and see your profits grow. Contact our experts at info@paxcom.net, and let’s take on to the omnipresent eCommerce world.
