E-commerce which is short for Electronic commerce is the activity of conducting business activities on the web. It refers to the selling of services & products on the Internet via a website. An E-commerce site or an online store has a number of features that make it very convenient for customers to search for the products they need.
They can add the products they want to the cart and then check them out via secure online payment methods. If you are looking for ways of increasing your business reach, adding E-commerce functionality is one of the best ways to do it. The different benefits of having an online store for your business include:
1. Quick set-up and launch
Unlike a brick & mortar store, your website can be set up and launched very quickly. It’s possible to use ready templates from certain platforms and create a DIY E-commerce site. However, these sites lack the robust, secure functionality that a custom-designed site would have. If you are looking for a quick-start to a new business, this can become a great option for you.
2. Low investment
Starting an Ecommerce business is considerably cheaper than setting up a physical store because:
- You don’t need to rent a space to start your business from. If you prefer you can start it from your home.
- There are no start-up costs like outfitting a retail outlet etc.
- If you are a startup, you can use the drop-shipping option to procure the inventory you need, without a huge upfront investment.
- You can use various digital marketing strategies such as Google AdWords, Social Media etc. All of these are very cost-effective compared to traditional methods of advertising.
- You don’t need a large staff to run and manage your business. This eliminates the cost of payroll.
- You can scale business as your sales and profitability grow.
3. Increase your customer base and brand awareness
Today a whopping 81% of buyers conduct research online before making a purchase decision. Even brick and mortar stores can benefit from having an online store. Even the biggest and most notable global brands like Nike, Reebok etc. have E-commerce stores to complement their in-store sales. This goes to show exactly how important it is to make your products or services available to customers via the internet.
Having a presence online helps make sure that potential customers are able to locate your product information easily and can comparison shop. Being listed at the top of the search results pages substantially increases your brand awareness.
4. Reach new markets
If you are a small business, that caters to a more local audience, that can limit your expansion potential. The best way to overcome this is to set up E-commerce functionality on your website. With E-commerce, you no longer need to be limited by your location; you can easily sell to customers anywhere and anytime. This allows you reach customers nationally as well as globally if needed. For any more information, feel free to contact Hunter WebDev via this online form and we will respond to your email shortly.