Nothing can rival the essence of a traditional brick-and-mortar store. However, the current business landscape is evolving. If you want to diversify your business, attract more customers and increase sales, it’s time to consider some changes.
Whether you’re a hairdresser, a food truck owner, or a thrift store — an online presence can do you wonders. As a physical store owner, if you are still contemplating on starting an ecommerce store, the following reasons will give you the necessary boost.
Let’s get right into it.
What Differentiates a Physical Store From an E-commerce Store?
Each offering its unisque experience, let’s explore the distinction between the two ahead.
- Access: Physical stores target local clientele, while ecommerce stores are accessible globally, and subject to shipping.
- Overheads: A physical store involve costs like rent, staff, and maintenance, while an online store have lower operational costs without physical space overheads.
- Marketing: Physical stores rely on storefront visibility, while ecommerce stores rely on online visibility, SEO and social media.
- Operational hours: Physical stores are limited to set hours, while your online store can be accessible 24/7.
While both a phsyical store and ecommerce store hold its strong attributes and advantages, the synergy of both is more poweful. Here’s how.
Advantages of an E-commerce Store
Growth and Visibility
Imagine owning a brick-and-mortar jewelry store—a small, delicate shop located deep within a market area with minimal foot traffic. While your loyal niche customers know where to find you, you have a hard time getting in new customers. Plus the incurring costs of rent, utilities, and maintenance keep you worried.
On the other hand, with an ecommerce store, you gain the ability to display more products compared to your limited storefront. This lets customers pick more products online than they would at the phsyical store.
Without the expenses of a physical store, your profit margin significantly increases. Plus, as you market your physical store on social media, you can expand your real-life customer base as well, therefore increasing your profitability.
Whether it is you sharing information for your store, or gathering insights about your customers — online stores prove to be an optimal choice.
With an online store, you have the power to update in real-time from anywhere, at any moment, reaching a global audience. For a slow Wednesday morning, you can advertise a special brunch offer on your social media platforms. Any customer who would be looking for a new place to explore might be prompted to pop in and experience the goodness you have to offer.
Besides that, customers can always find whatever information they need about your products or the store online, at any time.
Adaptability and Insights
With an ecommerce store, not only can you sell more products, but you can also gain insights into your customer base. You can learn about the type of products their interested in, their geographic location, and more. This will help you adapt your business in a way that caters to their needs and preferences. If you want to start your e-commerce store, contact our Shopify developers.
In summary, running an ecommerce store along with your physical store can help you boost your reach and profit. It will also help you understand your customer base better, and will endure a successful and versatile retail strategy. It will be a change your business strategy rightfully deserves.