Online Shopping continues to grow and has no signs of a decrease in performance. In a way, it helps retail stores grow their business by reaching a much larger market making shopping more convenient than ever. e-Commerce is not an exclusive business for companies with existing physical stores or those who are planning to put up stores soon. With the advancement in technology and the growing number of orders worldwide, it seems like every business should jump on every opportunity to sell their products or services online.
Running an e-commerce business can be an exclusive brand website for your products or services, marketplaces (i.e. Amazon, eBay, Lazada, Shopee, etc), and selling on social media platforms with or without partnering with a payment gateway.
But why would a business add another channel to sell their products/services when they’re already doing well in their current sales channels? Simple! More revenue. Is it not our end goal for every business to grow our revenue. We should not stop in constantly thinking of ways to improve our sales record, customer experience, and reaching more customers.
5 Benefits of e-Commerce
- Store Open 24/7 - As a business, we want to continuously sell products/services but are limited to store hours and sometimes holidays. Having an e-Commerce store means your business is open 24/7 to your customers. Even in the wee hours of the night, you can get orders and inquiries.
- Low Cost - Unlike opening a physical store which may cost you millions with just one branch, setting up an e-commerce store will cost you less.
- Set up - For entrepreneurs, looking to start their business as soon as possible, e-commerce is a great way for you to start making money. All you need is a computer, internet, and your favorite couch.
- Storage - Opening your online store does not require you to have physical stocks in your storage. For entrepreneurs who are planning on selling products, you have the option to do consignment or drop shipping to avoid ageing stocks on purchased products.
- Logistics - Getting your products delivered to your customers’ doorstep is now easier with the growing number of courier providers today due to the surge of online purchases. You now have the option to invest in your own fleet to deliver products or partner with an existing courier to handle order fulfilment for you.
- Increase Brand Awareness - Customers nowadays conduct online research for products they’re interested in before making a purchase whether online or in-store. Having an online presence makes it easier for your potential customers to find your product in your store and make comparisons with other stores. When customers search for a product available in your store, you would want to be listed among the top results to make it easier to find your product.
- Expand Customer Reach - Having a brick and mortar store has its advantages on customers being able to experience a product before making a purchase but it also has its disadvantages on reaching more customers. Some physical stores can be limited to certain locations and customers may need to travel far to pay a visit without the assurance of them making a purchase. Having an e-commerce store makes you available anytime, anywhere. You can serve more customers across the country or internationally! Instead of having your customers come to you, be where they are and bring your products to them.
- Niche Market - Niche Markets are risky and having a brick and mortar store may also be quite difficult to maintain. e-commerce makes it easier to serve niche markets by making your products/services available anytime, anywhere through your website.
Are you planning on selling online? Start now by building your very own e-commerce website with Senarysoft!