• Lower costs
Going online eradicates the need for a physical storefront, meaning lower fixed costs for the business. Also, since most e-commerce is automated, fewer staff members are required. Marketing an e-commerce store, using Google Adwords, e-commerce Facebook advertising, and social media marketing, for example, is much more cost-effective than promoting offline. These cost savings translate to lower prices for the consumer and more sales for the business. This is one of the key benefits of e-commerce for businesses.
• Customer data
Selling online gives the retailer access to a goldmine of customer data that is just not accessible through brick-and-mortar retailing.
Not only do online consumers typically provide their name, email address, and phone number when checking out or registering on a site, but they also provide a wealth of consumer behavior and demographic data, available through Google Analytics, that can help online retailers optimize the consumer journey and market more effectively and accurately.
E-tailers are also able to nurture and retarget consumers precisely, based on their stage in the journey. For example, using data insights, an online retailer can email potential customers who have abandoned their carts, motivating and reminding them to check out their purchase, and can even use retargeting advertising to nurture leads that have not yet purchased.
• Wider customer base
Going online with e-commerce sites makes geographical boundaries become inconsequential. You could sell your products to online shoppers across the country or even across the globe. You’re not limited to shoppers in your physical location.
The internet also opens up your retail store to different niche audiences that you wouldn’t have access to. By using multiple online touchpoints, you can access customers from all angles by going where they already are, such as social media, forums, and Google search.
• Open always
When you sell online, your business is open 24/7/365. Even though your customer support may be sleeping, automation ensures that the rest of the sales process is always flowing and consumers can buy on any day, at any time.
• Easier to scale up
Scaling up or growing a physical store requires more floor space (and the expense that comes with it! ), employees, and shelf space. In contrast, it’s very simple to grow an online store, which is one of the less obvious benefits of e-commerce for businesses.
All you need is more inventory, a few digital tweaks, and possibly more storage space, which is far less costly than storefront space. Being online also eliminates the need for opening a new store in another location as you’re already within the reach of a global marketplace.
• Lower costs
Going
online
eradicates the need for a physical storefront, meaning lower
fixed
costs for the business.
Also
, since most
e-commerce
is automated
, fewer staff members
are required
. Marketing an
e-commerce
store
, using
Google Adwords
,
e-commerce
Facebook advertising, and social media marketing,
for example
, is much more cost-effective than promoting offline. These cost savings translate to lower prices for the
consumer
and more sales for the business. This is one of the key benefits of
e-commerce
for businesses.
• Customer data
Selling
online
gives the retailer access to a goldmine of
customer
data
that is
just
not accessible through brick-and-mortar retailing.
Not
only
do
online
consumers
typically
provide their name, email address, and phone number when checking out or registering on a site,
but
they
also
provide a wealth of
consumer
behavior and demographic data, available through Google Analytics, that can
help
online
retailers optimize the
consumer
journey and market more
effectively
and
accurately
.
E-tailers
are
also
able to nurture and retarget
consumers
precisely
, based on their stage in the journey.
For example
, using data insights, an
online
retailer can email potential
customers
who have abandoned their carts, motivating and reminding them to
check
out their
purchase
, and can even
use
retargeting advertising to nurture leads that have not
yet
purchased
.
• Wider
customer
base
Going
online
with
e-commerce
sites
makes
geographical boundaries become inconsequential. You could sell your products to
online
shoppers across the country or even across the globe. You’re not limited to shoppers in your physical location.
The internet
also
opens up your retail
store
to
different
niche audiences that you wouldn’t have access to. By using multiple
online
touchpoints, you can access
customers
from all angles by going where they already are, such as social media, forums, and Google search.
• Open always
When you sell
online
, your business is open 24/7/365.
Even though
your
customer
support may be sleeping, automation ensures that the rest of the sales process is always flowing and
consumers
can
buy
on any day, at any time.
• Easier to scale
up
Scaling up
or growing a physical
store
requires more floor
space
(and the expense that
comes
with it!
)
, employees, and shelf
space
.
In contrast
, it’s
very
simple to grow an
online
store
, which is one of the less obvious benefits of
e-commerce
for businesses.
All you need is more inventory, a few digital tweaks, and
possibly
more storage
space
, which is far less costly than storefront
space
. Being
online
also
eliminates the need for opening a new
store
in another location as you’re already within the reach of a global marketplace.