As the rate at which consumers purchase their items online continues to increase, with 87% of UK consumers claiming to have bought at least one item online in the last year, lots of businesses have been left wondering why ecommerce is growing, so we thought we’d give you this list of really valid reasons, not only why it’s growing, but why you should be considering it for your business.
Consumers can shop 24/7: a huge reason why ecommerce is growing is its sheer convenience; not only can consumer shop from the comfort of their own homes or on-the-go between meetings, but they can shop in the middle of night if they really want to. Being online means your shop is open and available 24/7. Great!
They’re global: due to the very nature of the internet, when you create an ecommerce website, you’re not limiting yourself to specific consumers in a specific geographical location, you’re opening yourself up to the entire world; millions of potential customers who can purchase from you at any time. Your only limit then is where you’re prepared to ship your items to, and how much for.
Reducing barriers: when it comes to spending money, consumers can often find reasons not to, over reasons to; whether that be the cost of an item, having to drive to the shop, not wanting to take the kids or even just forgetting to swing past on their way home. Having an ecommerce store reduces many geographical and time-associated barriers, meaning consumers will be more inclined not only to buy, but to buy more.
Competitive prices: running a physical shop can be expensive; you pay rent, monthly electricity, gas & water bills, staff salaries, and probably even a fee to rent a warehouse to store your stock. And that’s not yet even considering the price of buying in your stock… all before you can think about paying yourself and making a profit. However, running an online shop dramatically reduces the costs associated with any ‘real’ shop simply by being online, which means that – not only will you increase your profit margin – but you can afford to increase that margin whilst ensuring your prices are really competitive.
They’re trackable & traceable: Like anything online, ecommerce sites are entirely measurable and traceable; you can analyse the data behind visitors to your site, understand their behaviours, and strengthen your offerings accordingly. You’re also more likely to recapture existing customers with things like retargeting adverts, abandoned cart adverts, and promo/discount codes. And if you implement a newsletter sign up and blog section, appealing to existing and potential customers with emails and exclusive offers will make it all very easy.
Affiliate marketing: a really great way of driving traffic (and sales) through your website by paying other individuals or companies a nominal fee to advertise on their site, affiliate marketing is a really effective and cost effective way of reaching new customers.
If you have a product to sell, and you can ship almost anywhere in the world; if you want to increase your reach, your sales, your profit margins; you want to decrease your overheads, and your marketing costs, then ecommerce is for you.
For more information about ecommerce websites or to discuss your options, contact us today.
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