We understand that consumers are changing buying habits much of which is being diverted online. Ecommerce or short for electronic commerce is a way of doing business online and has grown exponentially. Ecommerce can be seen as a very lucrative type of investment when done correctly. In the era of technology ecommerce is becoming an increasing popular tool for business. Below we will highlight some significant reasons as to why you should invest in an ecommerce business.
A 24-hour access 7 days a week means that your business can potentially earn you money even when you are asleep. The fact that you do not need to close up/or open like you would do with a brick and motor store minimizes room for lost business. Here is another thing, time-zones. Now we all know that different parts of the world have different time zones this means that when it is for example, night-time in the UK it is daytime elsewhere which means that you carry on gaining new business at any time of the day.
Lower operational costs
As you may be aware that a brick and motor store has many expenses that its owner will encounter such as, rent, bills, staff wages, stock/inventory etc. With an ecommerce business you are counting out the majority of costs that arise with a traditional brick and motor store. Websites in general have a relatively low running cost (depending on the size/scale).
As we understand that a traditional brick and motor store may only be popular in its local constituency whereas, with an ecommerce business your business is able to reach out to a much wider reach and sell to a much wider and diverse population.
As with all businesses there are risks involved which an investor much understand before beginning an investment regardless of the scope/scale. With an ecommerce business you are at much lower risk than a traditional brick and motor store. A lower financial risk is one thing for sure as the original investment and on-going costs are low. Furthermore, you can quite easily change your product mix if you are unable to sell a specific product. If worse comes to worse, you may sell your store at a fair price on platforms like ‘flippa.com’ which your business can find a new owner to direct the business.
Brand image/ boost
In today’s world we know that consumers spend much time surfing the web and shopping online – online shopping is the consumer way of shopping whether that’s buying groceries, clothes, electronics or even booking a holiday. With a fully functional and well manged ecommerce store you can build or boost your brand online presence and image. Without having an online website for your business can prove to be a major competitive disadvantage.
If an ecommerce business sounds good to you get in touch with us today and see how we can help you grow an online business.