E-commerce is already a way to the future. Online platforms are a huge opportunity to grow successfully. People from every industry have revved their progress since the pandemic has driven the world to caution and social distancing. But the real question is, “how can you level up your store with a website?”
An e-commerce website has so many positive aspects to help businesses excel. More and more people are inclined to shop online — benefitting e-commerce businesses.
Specifically, having an online appearance is now a vital aspect of any retail business. Considering more than 60% of the audience prefers to buy online, e-commerce has become a necessity for any business. People like to browse and purchase stuff from the comfort of their homes.
So, if your brick-and-mortar store has declining sales and you want to increase your revenue, now is the perfect time to consider having an e-commerce site and take a step forward.
Benefits of an E-Commerce Website
Online stores allow you to expand through leaps & bounds and introduce customers to a wide range of products and services — without leaving the premises of your office or home.
As reported by Statista, every year, sales spike through e-commerce sites. The figures for e-commerce retail stores reached $4.9 trillion in 2021 and are expected to cross $7.4 trillion by 2025.
That said, e-commerce platforms empower your business by giving customers a choice to purchase with a click, allowing you to expand internationally, and increasing your customer base by virtually reaching almost everyone; the list continues.
f you’re unsure how to get started, platforms like eCom babes can help you launch your eCommerce store, but we recommend reading this eCom Babes review to make sure it’s the right fit.
We have outlined the benefits of selling online to make your decision easier. Keep reading for a more detailed look at the benefits of an e-commerce site!
Low Setting Up and Running Costs
The most tangible benefit of having an e-commerce store is the lowest cost of almost everything — from the launch to maintenance. Compared to the usual brick-and-mortar store, an online store can be set up for a small fraction of the cost.
Selecting the right platform and working with great partners allows you to set up an e-commerce store within a few weeks smoothly. The cost of launching an e-commerce store includes domain name, web hosting, logo design, theme, and low sign-up fees for e-commerce platforms.
Once your store is running, you can easily automate other functions. The purchasing process goes through a predefined cycle, and you will have the profit in your pocket. The checkout and payroll options will further lower your expenses.
Since your business doesn’t require any location, you will save a lot on utilities and rent. Moreover, if you are planning to run a drop shipping business, you can even avoid the investment of buying and stocking up on products.
Globalization of Your Business
A brick-and-mortar store is bound to cater to a specific geographical area, not to mention a limited customer base. Your store’s location dominates your audience. E-commerce is the only way to avoid geographical restrictions and be global — without moving from your office.
E-commerce sites will make the whole world your potential marketplace by helping you reach every corner. It allows you to engage, target, and reach a much broader audience. It also opens amazing opportunities to grow your brand, run your business from anywhere, and stay a step ahead of your competition.
Through an online store, you put your products and services right in the client’s palms on their phone or customers, no matter where they are.
No Time Restrictions
You must have heard the expression, “Make money while you sleep”? An e-commerce site will make that a reality for you; unlike a brick-and-mortar store, it operates 24/7. It means there won’t be any time restrictions on when people can purchase your products.
How incredible would it be to wake up with new orders every day?
Brick-and-mortar stores usually have limited working hours, while e-commerce sites will be free from such restrictions. You can keep it running seven days a week, 24 hours a day. It’ll maximize your profits and sales.
Moreover, you can also provide 24/7 customer service to your customers by using chatbots — without paying the staff to be available. Customers always appreciate the round-the-clock and responsive customer service.
Simplified Scaling & Inventory Management
Another major benefit of making an e-commerce site is that it allows you to handle your inventory and scale your business seamlessly. A website and a person to manage it; it’s all you need to have a strong online appearance — and you can move forward.
Not only will your sales increase, but you will also have enough time to scale up your shop and diversify your product range with minimal costs, increasing your profits even more. E-commerce sites will enable you to simplify your inventory management and adjust the services based on how your business is going on.
Customized Online Store Experience
Personalized websites perform very well, and they enhance the online shopping experience. One of the most tangible benefits of having an online store is that you can create customized pages according to the audience.
It will entice visitors to buy from your store. You won’t have to make an extra effort; it is not like having a physical store where you have to cater to a customer from the very first minute. Your hard work will end after launching a campaign, and you can relax.
In addition, you can also personalize the experience you provide through marketing. Try targeting the right audience through email marketing by segmenting the customers based on their location and purchases.
Another thing you can try is to retarget the customers who have once visited your store — send them a mail with personalized discounts for products they have already added to their carts. Keep a record of things customers often purchase together and introduce them in bundles with discounted rates to increase sales.
If you’re looking for a way to create a customized online store experience for your customers, a Shopify development company like Clickysoft can help. They can create a website that is user-friendly, search engine optimized, and tailored to the specific needs of your business.
Affordable & Minimal Staff
Having an e-commerce store will allow you to operate it from a smaller space with minimal staff and, — you can hire employees from anywhere in the world. It will ultimately help you target the right international audience.
For instance, you can hire employees experienced in web development while operating your business from another continent. You can easily outsource work to virtual assistants from different countries at comparatively lower prices.
You will also need fewer employees as compared to a brick-and-mortar store. You can carry out most of the tasks yourself and have freelancers hired for small tasks. After growing and having a profitable cash flow, you can build a small team.
Utilizing Massive Search Engine Traffic Potential
A brick-and-mortar store would have to excel in its marketing efforts to get more customers and also ensure that store has a location where more walk-in shoppers can visit.
But an online business will enable you to tap into the SEO potential. Optimizing the power of search engines allows your store to appear among the top results in SERPs. It would help if you also focus on the main keywords to drive revenue through different streams.
You will also have to write optimized, up-to-date, and unique content, including product descriptions. Even if you already have an established e-commerce store, your website will enhance your chance of reaching new customers through visibility and create a traffic source to boost sales.
Based on the benefits of an e-commerce store, it’s clear that e-commerce is the way to the future. Starting an e-commerce business is the next milestone your business need. However, you are in a prime position if you already have an online store.
And if you are still stuck in the brick-and-mortar business.
It’s high time to think about having an online presence and be the best of both worlds. Customers are already out there; all you gotta do is seize the opportunity and grab their attention.