23 Aug Our Top 5 Reasons you Should Expand to eCommerce Now
For many people in the world, eCommerce has become one of their preferred ways of shopping due to its ease and convenience. And, in a post-COVID world, if you are doing well in your bricks and mortar operation, then you might seriously want to consider expanding your business into the eCommerce sector.
A report which came out in early August 2020 noted a 129% increase in online sales in the US and Canada. It is predicted that eCommerce penetration will reach 12% of retail spend worldwide, within the next three years. In case you are still sitting on the fence about the shift to online, let us tip you in its favour with our handpicked top five reasons to make the shift.
1. Better Understanding of your Consumer
Easily one of the best things you can do as an eCommerce retailer is to keep a constant eye on your consumers’ buying habits and interests. This enables you to tailor offers and products to suit their requirements and needs. By doing this, you can improve your ongoing relationship and gain long-lasting clients.
In an online world, analysis of these stats is so much easier. A mere couple of clicks of your website analytics and you will be able to see which of your products are more popular than others. And, new technologies
also allow you to track where exactly on your site your customers are stalling. All of this data allows you to maintain an understanding of your customers.
2. Sell 24/7, 365 days a year
Another significant benefit of an eCommerce store is the ability to stay open 24 hours a day, and every day of the year – without paying staff! This is beneficial for customers as they can shop from the convenience of their homes, day or night. As a store owner, you also don’t have to worry about losing clients while your brick and mortar store is closed over public holidays. All of this means that an eCommerce platform gives you the opportunity to increa
se sales during what would otherwise be, downtime.
3. Decreased cost
It’s an obvious benefit, but it still needs to be said: an eCommerce store is far more economical than maintaining a storefront. When you add up the costs of a lease, shop fit-out, personnel, travel costs and the various overheads like electricity, water computer programs etc it all goes up. And that is without the ongoing advertising costs.
Now consider the costs of just a website – which you would also have with a bricks and mortar store – it makes perfect sense.
4. Attract new customers
With eCommerce, you’ll be able to attract new customers with Search Engine Visibility. While people are more likely to go into a brick and mortar store when they’re familiar with the brand, online shoppers do tend to explore unknown brands and websites via links in search engine results.
5. Sell globally
While a bricks and mortar store is limited to the geographical area that you can physically service, eCommerce websites can sell your products and services across the globe. Ultimately, the entire world is your playground.
Why wouldn’t you?
The grocery industry alone, is estimated to see a $2billion growth in the next five years. Similar opportunities for expansion exist in other areas of the eCommerce landscape. So, with amazing returns available to you in the online world, the question you need to ask yourself is why wouldn’t you make the shift?