Your business should be ONLINE, NOW
Since the spread of Covid-19, online shopping behaviors have certainly been impacted around the world. While the virus is hurting in-store traffic for some retailers, others have seen drastic shifts towards online shopping, as anxiety over the virus increases.
According to a recent survey by SearchEngine, online sales in the US have grown 30% across grocery and non-grocery purchases.
So what are the key benefits that an e-commerce website can offer to your business?
- You can operate your business from anywhere in the world.
With an e-commerce website, you automatically get rid of any geographical barriers you would normally face with an office-based business. You can effectively oversee your business operations from anywhere in the world.
- You have many more scaling options
With an e-commerce website, you will be able to analyze in real-time and determine which products are outselling other products, so that you can plan and stock levels of these products just in time.
- Your business will be open 24/7
With an e-commerce website, your store will be open 24/7 since your buyers can view and purchase at any time of the day – resulting in maximization sales and profits.
- You won’t need to spend so much time running it
After setting up your e-commerce website, you won’t need to spend so much time running it since everything will be automated including the purchasing and payment systems. This way, you can allocate your time on new products you want to sell, special offers and track ROI.
- Your margins will be higher and costs lower
An e-commerce website will enable you to sell at higher margins, making profits higher. The payment options on these websites result in gaining a 100% payment from the customer straight away. Overall, your cash flow will be improved since at regular physical stores, customers usually pay in installments for prodcuts with higher prices. On the other hand, your costs will also be lower, since setting up and maintaining an e-commerce website requires fewer investments when compared to a regular in-store.
If you’re getting ready to take your business online for the first time, you don’t have to do it alone. The Faktory Group will be happy to help!
Author: Bardha Ajvazi, Project Manager & Digital Marketing Specialist