Even if you own physical store at high street, still you should set-up online store
Today I have decided to put my point in very straight forward manner and it is regarding ecommerce investment. Here I would like to favor ecommerce channels for generating sales for all those businesses who have earned a lot popularity in specific region or territory by delivering quality product and satisfactory post-sales support (service). This post is an unusual type of my writing because generally I justify my points with statistics or research figures but in this article I put some valid arguments or reasons to give insight into the topic.
Because of a project of UK’s renowned family owned footwear business Shoe & Boot Ltd. Our digital marketing team is somehow busy with development department. I got inspiration of this article from this project. Shoe & Boot Ltd is a boots manufacturer and retailer have a shop at lower high street in Stourbridge. It is almost 95 years old traditional business of making boots. Old ecommerce website of shoe and boot is redesigned by our company in magento platform.
In general there are two types of ecommerce entrepreneurs one who are very new with business at all and the other who are familiar with business but at high street not on the web. It’s somehow very challenging for newcomers and ROI is also somehow questionable but for the second type of people it is not so painful. ROI of ecommerce development he/she can get on both channels of sales (physical store sales and ecommerce).
Now listen few reasons that will clear the concept more decently….
1: Brand Building doesn’t necessary
If you have a well-established store or outlet at high street that means a group of audience are aware of your brand and business. You don’t need to create a customer base. Your physical store is also a mark of trust.
2: Minimal Investment Maximum ROI
Set up an ecommerce store is far economical compare to physical store. Like for example if you are planning to expand your business from Stourbridge to London, then you have to pay minimum £10,000 pa for 380 sq. ft. shop. This is an average rental of retail shops, you should consider other relevant expenses too. Now compare ecommerce establishment with this one. You can start the complete ecommerce website with all setup within £1500. You can hire affordable ecommerce Development Company for ecommerce store design and development. My company 3i InfoCom offers few additional services like product uploads, social media setup, 1 year support absolutely free of charge with complete ecommerce website development package. Yearly £144 approx. you need to pay for web hosting.
3: Uplift the physical store sales too
Ecommerce website is not only the shopping atmosphere but also a wonderful medium for browsing as well. Number of people who first explore the product on website, get all the information from the site, compare price with other retailers and then buy it from your outlet.
4: Enhance the trust factor and brand equity
In present time the customer is smart and tech-savvy. So he/she double check your brand and product before buying. If you have a website and fair number of fans or followers on social media, he/she will trust your brand. In this way your brand equity also increases because you will get the benefit of “word of mouth”
5: Earn Customer’s love for your products and services
6: You should present where people spend more times in a day
According to a survey conducted by Ofcom, People spend more than 8 hours and 41 minutes a day with media (including TV, Radio, internet etc.) this is approx. 20 minutes more than asleep. Identify this behavior and reach to your target audience as the same way they expect.
7: Less expensive promotion for new offers or discounts
If you set up a physical store in any city, you will spend thousands of bucks with print advertisement and other local promotional medium. But in ecommerce store all the promotional techniques are cost effective whether it is SEO, social media promotion or Email marketing. Even paid channels drive very potential visitors at very low cost.
8: Don’t require much staffing for sales and administration
In ecommerce segment of sales you can handle all the activities with minimal staff. To handle inventory and order you need one or two person and one person for shipping or delivery management. You can handle customer support as your own. You can outsource SEO and social media to any bespoke SEO agency who provide these services.
9: Your loyal customer can shop anywhere from all across the globe
10: Beat your competitors who are still not updated with ecommerce
For example you have a footwear shop in Stourbridge, and there are 15 other shops in your area which you can say competitors. Now out of these 16 retailers, how many retailer offer online shopping like you? Hardly two or three, prospect customers who are likely to buy shoes order online from one of these three sites. Others who have no online stores simply lose the customers!!!
This article is totally based on my own experience and thinking so take more on the side of advice. You may have a different stand on few of my points discussed here. So don’t hesitate to express your thoughts via comments or other way of conversation like twitter and email.