Amazon is the first company most think of when thinking of eCommerce. It established itself in the marketplace early, and continues to succeed despite large brick and mortar companies, like Walmart and Target, entering into its space. With a multitude of benefits, retailers are not satisfied just having an online presence anymore, they’re looking for growth.
Ability to reach more potential customers
As more retailers in-source their online shops, eCommerce becomes an extension of the brick and mortar store rather than its own entity. The expansion and targeting of online sales immediately expands your potential customer base. Anyone with an internet connection and a credit card can now walk down your virtual aisles without leaving their homes. Increased accessibility leads to more sales and increased profits.
Not only can customers browse stores without leaving their homes, they can do it when they wake up from a nightmare of high prices in the middle of the night. There isn’t a greeter judging you as you shop in your pajamas either.
Being open 24 hours allows for retailers to be flexible with sales with relatively low expenses. Flash-sales are great for turning over inventory and bad for my blood pressure. I am admittedly a victim of impulse buys from online sales. “50% off for 12 minutes” how can I pass that up?!
Retailers know what they’re doing to people like me and they’re not stopping. Around-the-clock operation allows for flash sales, late-night purchases, impulse buys, and it makes it easy to get rid of that tie-dye artificial goat fur sweater that your sales reps can’t push on customers without laughing.
Better processing of transactions
Finally, there’s a good chance that many of the forms of payment you accept at your physical storefront subject you to a processing period. With eCommerce, there are no more checks with “Boing” written in the memo space that you slowly pass the teller. Certified payment systems bring safety to customers while bringing security to your bottom line.
As you can see, there are so many ways in which your company could benefit from opening up an eCommerce store. By doing so, you can expand your customer base, enjoy 24/7 operation, and see more reliable revenue.
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