Is your retail business booming so much that you are aiming at a global reach? Are you not venturing into the ecommerce market due to the fear of falling down or simply lack complete understanding? If your answer to both these questions were a ‘Yes’, you are in the right place! In the retail industry, businesses need to be present right where the majority of their customers are; and ecommerce is the perfect way to do it.
You do not have to be an expert to understand and acknowledge the revolution brought by ecommerce in the retail world. Ecommerce plays a vital role in our everyday lives. Moreover, it is redefining commercial activities across the globe. Over time, ecommerce has unfolded in profound ways. Whether you face issues of a narrow storefront or location roadblocks, ecommerce can be a solution to all. Well, it does not mean that it is a cup of tea. In the end, it is your decisions that can bring the change. In this blog, we will be discussing why ecommerce is goods for your business growth. Keep reading and find answers to all your worries, right here!
Reasons ecommerce is good for business growth
Online shopping is rapidly growing and spreading its wings in almost every region of the world. The good news is that businesses still have scope to grow with ecommerce. Following are the few reasons we curated to help you know why ecommerce is good for business growth:
Reduced Operational Costs
Even with the bottomless competitions in the ecommerce market, it is inexpensive to operate an online store, thanks to low-cost ecommerce platforms such as Builderfly. The services provided by such platforms make it easy for businesses to set up an ecommerce store with everything including a mobile-friendly layout, attractive templates, and all-inclusive payment & shipment options. Indeed, there would be a few challenges on the way and key points to consider. However, the upfront investment, compared to that of establishing a physical store would be quite low. These platforms offer you enhanced features as and when you step up your business game.
Social Media Shopping
Did you know that more than 50% of the online populations are using social media platforms as a medium to shop online? Be it to browse for a few products, do quick researches, get inspired, or make a purchase, and social media platforms hold a major place in the retail industry. According to studies, Facebook is the most widely used social media platform to shop online compared to all other platforms. Also, on average, people spend about 3 hours per day on social media platforms. From all other platforms, Instagram is the one that evolves as per the user requirements every few months and that makes it one of the best places to find online customers. With millennials being the majority of the online shoppers, it is imperative to hit this market and ecommerce is the key to open that door!
Competitive Advantages
Many kinds of research have confirmed that online shopping is never to cease with millions of customers signing up every single day. Especially during the Coronavirus pandemic, more and more people have started shopping online for maintaining safe distances and stay home to avoid public contacts. The importance of online shopping has spread like a wildfire to the majority of the population worldwide. As mentioned above, the majority of the millennials are shopping online, followed by Gen Xers, and mobile commerce is booming and overpowering the traditional ecommerce businesses. Therefore, it has become more than essential to understand ecommerce and invest in the same as soon as possible to enjoy competitive advantages. The ecommerce sales that accounted for 7.4% of global retail sales in 2015 are expected to grow up to 17.5% by 2021. It is, by all means, it is the perfect time to take the competitive advantages of ecommerce for your business growth.
Infinite Customer Reach
Whatever is uploaded on the internet is accessible to audiences from all over the globe. Unlike the brick and mortar stores that are limited to its geographical barriers, ecommerce is not confined to any limitations on how many people get to view or know your store. Ecommerce offers increased visibility as well as sales by allowing every online visitor to look for your products to find your brand. Even when you have targeted your niche audience, ecommerce guarantees you an expanded customer base beyond your physical location. Also, as customers do not have to travel to your shop to purchase the products they like, you can gain loyal customers across the country or even internationally, if you are offering international shipping options. You can earn customers who are miles away from your store, sitting in their comfy corners, shopping from your store; and that’s according to us, the best way to describe how ecommerce is good for your business growth.
Customer Tracking
The beauty of ecommerce lies in the ability to know as much information as you require about your customers. You can track your customers to know their location, the way they approach your site, and the products or services they purchase from your store. These data can be used to optimize the website and offer a personalized experience to the visitors, the next time they visit your store. You can highlight the most popular products in your store, understand and work on the webpages where customers tend to go back, as well as know the changes that bring increased sales to the store through ecommerce. Moreover, these insights can also be used to boost sales in your brick and mortar stores (if you have one!). Many ecommerce platforms, including Builderfly, lets you view the analytics and performance of your store wherein you get to keep a check on how your store is perceived by your customers and what changes are required to boost your sales.
Enhance customer experience
Just like ecommerce has changed the face of retail businesses, it has also significantly impacted the customer experiences in multiple ways. The three aspects that drive more and more population to shop online are that they can purchase the products they like at their convenience, from any place, at any time they feel comfortable. Unlike the physical store, they do not need to be physically present in the store to complete a purchase. Ecommerce lets customers buy at their convenience from the comfort of their homes by browsing through unlimited products listed in the online selling platforms and clicking on a few buttons to complete a purchase. Not only this saves the customers’ time but also gives the utmost customer satisfaction (yes, it also depends on the platform chosen to purchase). Overall, ecommerce businesses go the extra mile to fulfill their customer requirements, unlike in the brick and mortar stores. Some such steps include providing personalized experience, suggestions, and customer support. Moreover, online shopping sites offer many discounts, offers, coupons, and advantages, over and above the comfort and convenience.
Conclusion
These were the tip of an iceberg; when talking about the advantages of ecommerce for businesses, the list goes bottomless. However, we have a few tips for you to begin. Looking into the benefits of ecommerce for your business, you do not have to try grabbing all at once. Consider starting small with low-cost or free ecommerce websites. For instance, the Builderfly Ecommerce Platform lets you create a beautiful online store for free with its Starter Plan. Next, ecommerce is something that keeps evolving and improvising. You are never late to grow with ecommerce and so, do not expect to create a flawless site right when you start; you’ll learn the game only when you are playing it! Lastly, we would suggest you feature attractive product images, concise product descriptions, and an easy-to-navigate website layout (which can be achieved when creating a store with Builderfly). Your bonus tip is to keep your customers engaged in your website using tips, videos, and brand story. After all, if you don’t keep them engaged, many others in the market will!
