- 🕹 Online store
- 💡 Insightful
- 💻 e-Commerce
The benefits of investing in an online store
For many people around the world, over the past decade, the ability to shop in online store became extremely important. On-line’s share of retail sales has been on the rise—21.3% in 2020 which is up from 14.3% in 2018. and 15.8% in 2019.
A new relationship between sellers and buyers
Pre-internet consumers would visit numerous shops to purchase the things they want or need, and it became so much easier now. Today people are ordering and buying 7 days a week, 24 hours a day.
At the same time, the virtual relationship between seller and buyer is improving and evolving while e-commerce is promising the bright future of the sales industry. In this article, we are going to talk about the benefits of investing in an online store.
Benefits of investing in an online store:
Start selling anywhere online
Online Store helps to easily start selling anywhere online. It lets you customize your storefront, organize products, accept payments with credit cards, track and respond to orders.
Competition and Price Comparison
Remember visiting dozen of stores to see what they offer and compare the prices? That is all in the past as e-commerce made it simple to visit few stores simultaneously, whether it is 10 pm or 1 am, 24/7, sunny or raining.
Consumers are allowed to compare prices instantly so your products could be found by thousands of consumers who may never hear of you before or chose your store initially.
Improving your reputation (Online reviews matter)
The average consumer will presume that a retailer with a good reputation will have an online presence. Another big thing – by encouraging your customers to leave good online reviews about your products, your will increase your sales. Stats claim that 85% of buyers read reviews, over 70% of them trust businesses more after seeing positive reviews.
There is another bonus to every retailer that is investing in an online store – the low overheads – it is much cheaper to run a business online than to run it from physical property. Server space and a domain name cost far less than renting and maintaining a physical store.
Shoppers Start Online
Today digital channels are the first place to look at when searching for certain products for almost 90% of buyers. Imagine shoppers searching for information about your products and not finding them online. Are they going to look for your physical store? No. They will continue the online search and choose products with the best reviews and prices.
Customer Data Insights
Online selling makes it incredibly easy to collect and measure customer data. Online selling is collecting first-hand data while tracking the interactions of customers. You will get a feedback loop of insights and it will be easier to continue your customer experience innovation.
Reach New Customers
Some marketplaces provide a wide audience, but at the same time, they can help you find niche markets. The best example is Amazon , but there are other marketplaces like Etsy and Poshmark where specific audiences are looking for specific products. For your business, you might want to use a mix of online touchpoints and engage with multiple audiences at once.
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