Why Online Businesses Seem More Profitable Than Offline Stores?
An online eCommerce site can make you more rich overnight than an offline storefront. Yes, you heard it right! The exponential growth in e-retailing in the past years with popular online retailers like Amazon achieving phenomenal successes has set off the trend of going online for most of the retailers irrespective of the size of the business. The thriving retailers in the online business proclaimed that having an eCommerce website is a prudent strategy on their behalf for gaining more market share without investing much.
Let us briefly view the key facts that make online shopping store today more revenue-driving than the real stores.
Easy to start off
Online store is way more easy to set up than any physical storefront and does not even need any intensive technology to get started. Online shopping sites are easier to build with the availability of a number of customised eCommerce solutions offering flexibility in product listings and payment integrations. Also, the cost of setting up an online store is minimal or can be zero for open source software solutions.
Support 24*7 sales
You can carry on your business 24x7 and every day as you do not have to keep manpower at your end to sell products all the time. So, you can provide your customers the opportunity to shop anytime it is convenient. The longer you keep your stores open, the more will be the sale of your products.
Economies of Scale
Most retailers, irrespective of their form of stores (online or offline) in the long-run strive to achieve economies of scale. By putting up your stores online you can easily reap economies of scale by discounts, promotional offers and free shipping services.
Magnify your Business presence
With an appealing online store that supports off extensive products range and provides numerous offers, you can look bigger as a retail company than what you are actually. A vibrant online presence also creates a feeling of trust and security in the shoppers.
Have Greater Stocks
Unlike retail outlets, you need only those items ready that are to shipped and can buy more of the items when you see demand is surging, So, you have enough room to stock other product lines and offer more varieties of items to your customers.
Promote social marketing
Customers are the greatest advertisers, especially for online businesses. By allowing customers to share reviews of your store and products at different platforms like Facebook and Twitter, with just one click you can make your store popular straightaway. eWOM (electronic word of mouth) is perhaps the most powerful form of digital marketing that can draw customers from widespread areas.
By far you have realised that starting a retail venture over online is more profitable both in long-run and short-run than embarking on the same with a whole new outlet or storefront. Moreover, with a robust open source eCommerce solution like Magento, things will be much easier and extremely cost-effective. So, go ahead and partner with GetAProgrammer, a pioneer in website development services having a proficient team of Magento developers from Sydney to step into the world of eCommerce.
