ECommerce stores have been around for quite a while now, so why should you look at building your own?
The great thing about having an online business is that there are very few barriers to getting started, which means if you’ve got an idea, you’ve got the opportunity to make it a reality. So, here are five benefits to making your idea a reality by starting an eCommerce store.
Online Shopping is Only Growing
Between 2013 and 2019, eCommerce sales nearly doubled from $1.34 billion to $3.54 billion. Given the events of 2020, this number is likely to skyrocket, and there are few signs that this trend is expected to change.
Statista predicts that by 2023 this number will be over $6.5 billion, which means now is a great time to build your online store. So, find out how to get the right Shopify developer at blackbeltcommerce.com and get started.
There are no borders when you have an eCommerce store. While your bricks and mortar store is limited to attracting customers within reach of the building, your eCommerce store can make sales to anyone in the world.
This significantly increases your market and allows you to explore new opportunities in different countries. You might find that your brand becomes hugely popular in a country you would never have expected it to, and this is all because of the power of your online store.
Floor space costs a premium and having a brick and mortar store can put a squeeze on profit margins. When you’ve got an eCommerce store, you don’t have to pay large rents on a shop floor, which can free funds up to put back into your business.
While you have slightly different costs involved in an eCommerce store such as hosting and paying a developer, these are often much smaller than the costs associated with running a physical store.
Some People Prefer Shopping Online
The numbers would suggest that lots of people prefer shopping online, and it makes sense.
When you buy something online, you don’t have to leave the house, you don’t have to put up with crowds of people, you can easily search every product in the store, and you can make your purchase in a few clicks of a button. The convenience is too hard to ignore, and if you’ve not got an eCommerce store, then you’re missing out on all these people.
They say that in marketing you’ve got to reach people where they are, and a lot of people are at home shopping on their computer.
An online store makes it quick and easy to adjust your pricing as you see fit. You can have quick-fire sales, send out coupons to repeat customers, and generally have a huge amount of flexibility when it comes to pricing.
Your business’s needs change quickly, and an eCommerce store gives you the flexibility to react to this. With access to huge amounts of data, you can ensure you’ve got the pricing strategy that’s going to maximize your potential.