The future of eCommerce is projecting to grow by 14.3% in 2022 and is not slowing down 1. With that growth, you consider if eCommerce is right for your business and how it benefits your bottom line. eCommerce will provide you with unlimited cost and time-saving features with improvements in the user shopping experience.
Need to Cut Costs?
You will be surprised how much you will save on operating costs by creating an eCommerce website. You will reduce costs in labour, rent, repairs, store design, and more using eCommerce. While eCommerce costs include design and maintenance, the cost is generally far less than a physical store.
Competitors Already Have an eCommerce Website?
There is a good chance your competitors already have moved to the eCommerce format, meaning you are behind the trend. Up to 87% of customers who start their buying journey online are therefore going to your competitors 2. Suppose your audience starts their purchase journey online and finds a company that sells a similar product online. In that case, they will purchase from that website instead of your non-eCommerce company.
Can I Sell My Products Online?
No matter what you sell, no matter the format you produce it in, it will translate into an eCommerce website. Do you sell a service? Create an eCommerce website that promotes different services you offer so users can do preliminary research and book that service instantly. Do you sell a subscription? Just look at Netflix and how successful their subscription eCommerce website is. Sell custom-made products? That can be tricky, but with options like colours, sizes, and descriptions and other features, you will make the purchasing process easier and faster for your customers.
Receive Many Customer Questions?
An eCommerce website will improve your response rate and decrease your customer’s shopping time with different online features. eCommerce websites will quickly answer availability questions by tracking your inventory level in real-time. It can advertise ‘low inventory’ or being ‘out of stock’ to your customers. eCommerce can answer product questions via filters that use product names, price ranges, and colours, and more. These features give customers quick access to important information while making their buying decision.
Want Access to More Advanced Customer Data?
eCommerce analytics is a powerful tool to generate large amounts of informative data. Powerful data such as customer behaviour and insights on their purchase journey. You can track what product’s popularity, abandoned cart rate, and when they go on and off your website. Analytics gives you insights into underlying issues in your product line and your industry. These insights will help you understand your customers and how to market towards them, that brick and mortar stores customer data doesn’t offer.
Want To Expand Your Reach?
You will reach more of your customers when you sell online using an eCommerce website. You are not isolating your customers due to your physical store location and its hours of operation. Customers can purchase at any location at any time of the day, regardless of their normal hours of operation. Did you know that the optimal time for eCommerce is 8 pm and 9 pm, when most stores are closing, and you are losing potential sales 3. eCommerce will reach those customers that don’t have the time to shop or work during your hours of operation.
Lack an Adaptable Store?
Adapting to different customers in an online store is difficult. eCommerce is a powerful tool to engage and create loyal customers quickly. eCommerce websites are adaptable to users by offering promotions, products or services, and sales based on their previous data. Typical brick-and-motor use the same promotions for all customers without focusing on different customer segments. When eCommerce websites give good product recommendations to customers, customers become more loyal. Customers become more loyal as they think of your website as a source of knowledge for their shopping inquiries.
Ready to Increase Your Average Cart Size?
Increasing your average cart size by relying on your physical store’s workforce is not reliable and effective. eCommerce offers more tactics on increasing your average cart size that physical stores can’t use. Tactics like pop-ups that all users must look at before shopping, cross-selling items based on their cart, and offer personalized recommendations. Physical stores can offer deals and recommendations, but an automated recommendation system will be faster and more effective.
Need to Optimize Your Space?
Physical stores have limited shelving space to display all your products. Limited space means you must decide which products are displayed and which products should receive less attention. eCommerce is different. You can display infinite amounts of products and be excited about new products without worrying about shelving space. eCommerce will do more than just displaying all your products; it will optimize your product display space. You can organize your product’s display based on users’ searches. For example, a customer searched for a blue sweater, your page would show them all your blue sweater options, thus optimizing your virtual product display.
Most businesses would benefit from an eCommerce website regardless of their industry. Want some more information? or are you ready to grow your business? Call us today and let’s get your project started!