You may have a physical store outlet that offers products and services. You also have a website that shows your product range. The natural next step in growing your business would be to monetise your website and offer e-commerce, and bridge both the physical and digital world when offering your products and services.
Why? Customers are increasingly shopping online, along with the rise of handy mobile devices. Shopping online is so popular because it is convenient, saves you time, effort and sometimes even money. Users can also select their items at their leisure, at their own pace. There’s nothing much to complain about, other than the delay in having your items shipped to your home.
Here are some quick info bites about e-commerce, and why you should take your business to a new level.
No restrictions = More revenue
64% of small businesses that sell online said that the Internet has increased their sales and revenues (IPSOS, Paypal Study).The beauty of having an ‘online shop’ is that you are open 24/7, and you are accessible to anyone in the world who has an Internet connection. 64% of small businesses that sell online said that the Internet has increased their sales and revenues (IPSOS, Paypal Study).Your customers can browse, select and pay anytime they like. Furthermore, they can do this from the comfort of their mobile devices- they can buy products from you even if they are lounging on the sofa at home, or while travelling on a long work commute. The possibilities are endless. All these translate to more revenue for you.
The Golden Era?
It’s a great time to get involved with e-commerce, as customers are no longer as fearful or wary as before about purchasing items online. The generation that grew up with a plethora of digital devices and services also have increased purchasing power as they join the workforce. In fact, customers are so comfortable with the idea of online shopping that now they may even find it strange that you do not offer e-commerce options. E-commerce has already become a familiar industry standard, and you could benefit a lot from it.
All roads lead to Rome
View e-commerce as an extension of your current business. It’s just a different platform to conduct business, and ultimately, your customers purchase the same products- just that they now do it through an online process. You may also observe that some customers drop by your actual store to try out your product, before ordering it online. Some customers do the opposite, scoping out your product online first, before heading down to your physical store. Everything is interconnected.Providing multiple convenient ways of purchasing your product can only lead to more profits- and the revenue streams back to one place- you!
