Did you know that 71% of shoppers today believe that they are getting better deals online than in stores? 80% of the online community has purchased something online and 50% has purchased more than once. Today, consumers are now buying more things online than in stores. Now on the buyers’ side, it is more than likely clear to them why they prefer to purchase things online… but what about on YOUR side, the retailers? Why should YOU sell online instead? Well, here are the facts:
- Lower start-up and operation costs. With online selling, you can run your business without having to worry about the costs of having a physical store such as rent, electricity, water, staff wages, utilities, and insurance. You can already have a store just by paying for website or app development. Better yet, you can sell for free by creating social media accounts for your store or by posting your products on buy-and-sell platforms.
- More flexible and manageable. It is easier to make changes to an online store than in a physical store. Whether it be the price of a product or the store layout or design, alterations are better made on an online store because of its zero-cost, built-in customizable features. Also, in your online store, you can apply changes collectively unlike in a physical store where each adjustment should be made individually.
- Better customer reach. With an online store, you can be part of the global market and not just target customers locally. A physical store is limited to reaching only the people in its surrounding area, which is nothing compared to more than 3 billion internet users worldwide who will be able to access your online store through social media, search engines, apps and more.
- 24/7 Worldwide Availability. When you sell online, there are no restrictions on time and space. You can be asleep in the Philippines and have your online store up and running on Canada. Your store can be open everywhere, all the time and you don’t have to be present to make a profit.
- Measured results and sales through digital marketing. Creating social media accounts for your online store is a powerful digital marketing strategy that serves as an instrument to effectively assess which of your products or services are in demand and what kinds of promotions work on your customers so you can grow your business based on these findings.
So, with lower start-up and operation costs, a more flexible and manageable system, better customer reach, 24/7 worldwide availability, and measured results and sales, what do we get? Simple. More profit. Online selling promises better gains with minimal requirements than having a traditional physical store.