Take a moment to think about the benefits that ecommerce could bring to you…
Have you noticed how people in their teens and 20s interact? Voice calls are out and texting is way, way in. The switch to digital communication has taken full effect in all generations since Generation Y, and these are not only a prominent target market in today’s economy, but they are also setting the trend for the future. Say what you will about the downfall of society, given the trend away from personal interaction: the preference is heading towards interacting with machines rather than face to face. Modern consumers appreciate the convenience of never having to wait in a long line or be put on hold in order to make their purchase; with just a few clicks or taps they are able to shop till they drop. We are big fans of ecommerce, and here we share with you just a few ways in which it can revolutionize your business.
One of the greatest advantages to ecommerce is the ability to reach customers with a wider scope than ever before. Where brick-and-mortar stores work well to enhance your business’s public-facing tactile image, it can be difficult for consumers to purchase if they don’t live near a store location. However, with the advent of online shopping, consumers around the country and, if you so choose, around the world have the ability to shop in your online store no matter where they’re located. All they need is an internet connection and a valid postal address to be first in line.
A further pro of having an online store is the huge cost savings of not having a brick-and-mortar location overheads at all. Sure, customers like to have the chance to experience certain products before they try them on. But if you can create innovative solutions like online shoe retailer Zappos, who offer free shipping on returns, you can offer them the chance to try your product out in the comfort of your own home (this is not recommended for toothbrush sales). And if you’re a company whose product doesn’t have to be experienced in person before buying, this is a foregone conclusion. Replacing the cost of purchasing or leasing a retail location with a lean and efficient warehouse and shipping setup will make a huge difference to your bottom line. On top of that, warehouse space is always cheaper than retail store space, so you have the added ability to offer your customers a wider range of products.
But how does having all that additional inventory affect that inventory management? Believe it or not, it gets easier. When your items don’t have to hop from location to location, such as from the warehouse to your store’s back room to your store’s shelves, it means that the only time an item moves is when it is purchased. You will have your inventory down so well you’ll know where each paper clip is located at all times, and how it got there.
By having an online store you are no longer limited to normal business hours, but are instead open 24/7/365. Although your packaging and shipping facilities may not necessarily operate at all times, your business is able to accept orders at any time of the day, any day of the week. And when you’re always open for business, so is your profit flow.
Certain sectors of tech commerce stand to gain substantially by switching to an online retail model. If your business offers software, by going online you immediately eliminate the cost of storage devices like CDs when you give consumers the ability to download your software. What’s more, the consumer gets the satisfaction of receiving their purchase as soon as they click the “Buy” button at the bottom of the page with an instant software download. Increased efficiency, waste reduction, and cost savings are the three major benefits here.
Don’t miss out on what the ‘Buy’ button can bring to you. Get started on your online store today at Midphase.com
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