Six Important Reasons Why Your Retail Business Needs To Have An Online Shop
- January 23, 2020
The shopping trend is moving more and more towards online shopping. In fact, online shopping is growing three times faster than in-store shopping. In order to capitalize on this growing trend, you need to run an online shop on top of having a physical store.
With that, you will be able to capture both the customers who love shopping online and those who still prefer the tactile experience of in-store shopping. Besides, since quite a number of people prefer to first search online for prices before going to the physical store to make a purchase, it can be a win-win situation for you.
To better understand why you need to take your retail business online, RedBrain created a handy infographic explaining the differences between running an online and brick and mortar store by using examples from some of the US retail giants.
Offers 24/7 Shopping
While brick and mortar stores have a closing time, online shops operate 24/7. It makes more comfortable for people to purchase products at whatever time depending on their mood. This is one competitive advantage you cannot afford to miss out on.[irp]
It’s More Convenient
With the busy schedules of consumers nowadays, some find it hard to create time to go shopping at a physical store where they might also have long queues to contend with. Hence, by giving them the option of doing it online, they can do their shopping while at work or while looking after their kids at home.
Moreover, customers find it easier to search for a variety of products online and compare prices using their phones before making a purchase.
Some people love the discretion that online shopping provides. If your business sells products that people might find uncomfortable to buy in-store, providing them with the option of doing so online can be fantastic.
Easier To Promote Your Products Online
Considering the fact that many people these days own smartphones and actually spend a lot of time conducting online searches on them, it’s much easier and effective to market to them in a space they enjoy using.
The majority of online shoppers like a good bargain and opt for shopping online because e-commerce sites offer better prices than brick and mortar stores. This is why they’re more receptive to receiving information on promotions which could lead to higher sales.
Exposes Your Products To A Wider Market
By taking your shop online, you will be able to open up your business to the whole world thus widening your customer base. Consumers who would have previously wanted to buy from you but couldn’t do so due to lack of a physical store in their area will now be able to buy online from you.[irp]
Helps You Understand Customer Behavior
When it comes to in-store shopping, it can be hard for you to track the number of customers who enter your store but end up buying nothing. With online shopping, however, you can track at what level shoppers abandon the purchase process as well as tally the numbers for insights on how to better improve your services.
It’s more than necessary to have an online store on top of your physical one in this digital marketing era because most searches about products happen online and you wouldn’t want to be left behind.
Further, as a business owner, it’s in your best interest to leverage all the marketing platforms available in order to grow your business.