The internet has changed the retail industry. Obtaining a product used to necessitate a trip to the mall or a local store. People are now using their desktop computers or mobile devices to have merchandise delivered to their doorsteps. According to Digital Commerce 360, consumers spent $453.46 bill on online shopping in 2017.
Entrepreneurs looking to start a retail business must consider the ramifications of the rise of online retail. You might be wondering: Should you open a physical store? Launch an online-only retail business? Pursue an omni-channel solution? To start, here are five key advantages of ecommerce over brick-and-mortar sales.
Advantage #1: Ecommerce Boosts Customer Convenience
A recent survey revealed nearly half of respondents (43 percent) named convenience as their primary reason for purchasing goods online rather than in person. Convenience beat out other reasons for buying online like pricing, variety and home delivery.Put it this way: People like to take the shortest route between points A and B. If shopping online can save them a trip to the store—and the gas pump—then many people are likely to give it a try. If they have a positive experience, they may just become habitual online shoppers.
However, convenience hinges on offering a positive user experience (UX) online. This means speedy load times and simple navigation. The last thing you want is for your ecommerce customers, who are seeking convenience, to hit a snag on your website and exit out of frustration.
Advantage #2: Websites Are Great Sales Tools
So what is an ecommerce website? In its most basic form, an ecommerce website enables consumers to browse products and purchase them via a payment gateway. Instead of training an entire sales staff and setting up an entire sales floor, ecommerce entrepreneurs can focus on building a website that both informs and persuades customers.
It doesn’t take extensive coding experience to create a website complete with HD imagery, informative copy and intuitive controls. And once your site is up and running, it’s simply a matter of making improvements and assessing the performance. This tends to be much less labor intensive than opening and closing a physical store each day.
Advantage #3: No Need to Rent Physical Sales Space
Physical stores require paying per square foot to rent the commercial space. Selling online alleviates these costs, though paying to create and host a website does require some funding.
Brick-and-mortar retailers often depend on foot traffic to get potential customers in the door. Similarly, ecommerce retailers must drive online traffic through tactics like search engine optimization (SEO), content marketing and social media.
Advantage #4: Ecommerce Overcomes Distance
Brick-and-mortar stores are limited by geographical distance. That is, a shopper must be proximal to the location to visit. But ecommerce stores are overcoming geographic limitations by allowing people from all over a given country—or even the world—to buy goods.
Advantage #5: Ecommerce Allows for Data-Driven Personalization
When someone walks into a brick-and-mortar store, sales associates usually have little context for their habits, preferences and behaviors. Ecommerce entrepreneurs, on the other hand, have all of this data at their disposal. This increasingly allows merchants to personalize the shopping experience for customers.
Ecommerce websites can leverage artificial intelligence to recommend products to consumers based on prior purchases and browsing behavior. Ecommerce marketers can also personalize subject lines and content within emails based on recipient behavior. Merchants can also serve online users retargeting ads based on purchases they have clicked on or added to their shopping carts in the past.
Ecommerce has a number of advantages over brick-and-mortar sales, making it a viable option for many entrepreneurs looking to harness the power of the internet.
Your Business Needs These 13 Digital Security Solutions – Here’s How To Get The Most Out Of Each
How would you characterize your organization’s digital security posture? If you’re not sure how to answer this question, or perhaps would prefer not to answer it at all, you’re not alone. Countless decision-makers, from uber-competent CTOs and CISOs to CEOs and COOs who couldn’t code…
Louisiana And Oklahoma Introduce Digital Identification To Prevent Fake ID Use
Digital ID in Louisiana Utilizing digital IDs has been a commonly broached topic for a while now. Although most states are only either deliberating their helpfulness or in the utmost initial stages, Louisiana has moved forward. The primary introduction of this technology was done back…
ScanGuard Review – Here is What You Should Know
Doesn’t it sound good and satisfying to have a goop-performing antivirus that is reliable enough? Yes, it is. For that reason, you need to be extra careful when you are in search of a good antivirus. Put all the necessary factors into consideration so that…
The Emerging Need for Social Media Security
By the time you’ve finished reading this sentence, nearly 700 passwords have been stolen from social media accounts across the world. Social media security breaches have the potential to cause up to $6 trillion in cybercrime damages by 2021, up from $3 billion in costs…
Which New Lorex Security Camera Is Right for Your Home?
Keeping your family and your possessions safe requires a proactive approach, and one way to protect what you care about is with a security camera system. Lorex Technology is well known for their security camera solutions, and their two newest products will change the way…
- 3D Printing
- App Dev
- Artificial Intelligence
- Arts and Entertainment
- Big Data
- Blockchain Tech
- Business Technology
- Car Technology
- Cloud Computing
- Cloud Storage
- Computer and Technology
- Conference Calling
- Coupons and Deals
- Cyber Security
- Dark Left 1
- Data Center
- Data Recovery
- Digital Arena
- Digital Marketing
- Edu Tech
- Email Marketing
- Google Glass
- Guides and Tutorials
- Health and Fitness
- Home Improvement
- Home Security
- Internet and Businesses Online
- Internet Marketing
- IT Careers
- Mobile Apps
- Mobile Security
- New Tech
- Online Shopping
- Project Management
- Reference and Education
- Reputation Management
- Sales & Marketing
- Shopping and Product reviews
- Small Business
- Social Media
- Tech Trends
- Technical Support
- Technology in Education
- Tips & Tricks
- Tips And Tricks
- Video Conferencing
- Virtual Reality
- Wearable Technology
- Web Design
- Web Development
- Web Hosting
Financial Experts Share 5 Secrets To Successful Cultural Change
Cultural change can come in many forms and be prompted by a variety of factors, whether internal or external to the organisation. More often than not, change is necessary to keep a business afloat and competitive in a difficult market. But this doesn’t mean everyone…
How To Create And Sell Tasteful Vacation Rental
Vacation rental websites are all the rage at the moment. You may or may not have noticed that the current state of the travel market has taken a massive swing over the last half a decade. The rise of holiday home rentals is one that…
Non-Negotiable Elements For Your Business IT Security Plan
In 2019, having a business IT security plan is more important than ever. An IT security plan is the first line of defense you have for protecting your business – and your clients – against cybercriminals. Cybercriminals include hackers, who frequently obtain personal information with…
Businesses Need To Be Proactive When It Comes To Cyber Security
For business of any size, making sure they are not only compliant with security regulations but continually improving and adjusting the measures they have in place is vital. Quite often the factor which determines how a business approaches cyber security is the mindset of the…
How To Become A Cyber Security Analyst
What is Cyber Security? Cyber security is the practice of protecting a system or network from digital attacks. These attacks are generally aimed to retrieve or destroy sensitive information and it is a serious threat to all the organizations. Who is A Cyber Security Analyst…