Without a physical storefront, you won’t incur rental or management costs. Your only costs will be the software you use to set up the online store, labor, and any money spent on marketing or advertising.
Google analytics makes it extremely easy to see where people are finding your website, which pages they are visiting, and from what region of the country they are hailing in from. You can also use tools like Crazy Egg and MouseFlow to analyze cursor movement as they browse your web store.
t would be very difficult to get these kinds of statistics regarding merchandise browsing patterns or visitor traffic with a physical store.
Search engines are the holy grail of online activity. Rather than constantly pushing out marketing messages and trying to attract people to your store, a search engine will pair a customer’s search queries with products and information that exists online.
If you rank well in a search engine like Google, then you will receive recurring monthly traffic that can convert into a steady flow of incoming sales. If your product is on Amazon, you can also get traffic from their search engine.
While at one point in time, only bloggers like myself had the ability to voice opinions and influence buying patterns of new products. Now, everyone has the ability to speak their mind or recommend products to their friends on Facebook, Twitter, Pinterest, LinkedIn, Instagram, and more.
Just because you are running an online store, let’s say, in Massachusetts, doesn’t mean that you need to set up a warehouse in Massachusetts or hire staff there. You can hire a staff member from out of the state or even out of the country to take advantage of tax or labor costs.
Similarly to point #9, you also don’t need to be in Massachusetts in order to run your business. You could take a week off and be in Europe or on a beach in Malaysia, as long as you have a shipping and order fulfillment system in place.
Similar to search engine traffic, identifying repeat customers and particularly the products they buy most frequently is the golden goose of building a longterm successful business.
The analytics of a web store make it very easy to see which customers are your best customers and which products experience the fastest turnover.
If you were operating out of a physical location, your POS might have some of this functionality, but it’s likely that you’d have to remember who your good customers are and the items that are the most high-margin and responsibility for the majority of your store’s profit.
If you are running a physical store, it will be limited by the geographical area that you can service, but with an e-Commerce website, you can sell your products and services across the world. The entire world is your playground, where you can sell your complete range of products without any geographical limits. Moreover, the remaining limitation of geography has dissolved by mcommerce that is also known as mobile commerce.
One of the most important benefits that ecommerce merchants can enjoy is store timings are now 24/7/365 as they can run e-commerce websites all the time. By this way, they can increase their sales by boosting their number of orders. However, it is also beneficial for customers as they can purchase products whenever they want no matter whether it is early morning or mid-night.
With effective ecommerce solution, you and your organization grow and scale easily to meet market demand as well as customer requirements by introducing different sales channels and reaching market segments.
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