The retail business continues to change, which means as a business owner, you need to adapt to the changing environment to keep up with shoppers and how they like to shop. Consumer behavior dictates the market, and over 90 percent of consumers research information online before they make a purchase, while over 80 percent will check the price of a product online before going to a brick-and-mortar store. If you have a brick-and-mortar business without an online presence, there are some good reasons to take it online.
- It’s a Budget-Friendly Way to Expand
Expanding a business is expensive, and if you want to grow a traditional brick-and-mortar business, it can lead to extra rent, more employees, and even renovations to create a space that works. Expanding your business to an online store is much more cost-effective and there are usually minimal overhead costs. You can create a website using one of several e-commerce platforms that make it quick and easy. In addition, if you are already selling your product offline, the transition is very smooth.
- You Can Provide Better Customer Support
Having an online presence changes your availability, making you a 24-hour, seven-day-a-week business. This increases your chances for sales, and it increases your available for customer support. You can answer customer questions any time and solve problems any time without the constraints of the business hours of a brick-and-mortar business.
- You Can Work From Anywhere
An internet-based business allows you the freedom to work from anywhere. As long as you have an internet connection and a reliable e-commerce platform, you can conduct your business. Bringing your business online opens the door for more flexibility, and it will complement a brick-and-mortar store or business.
- Any Business Can Work Online
It doesn’t matter what type of business you have; you can create an online store to complement your existing business. If you own a restaurant, you can package your most popular item and sell it online, or you can create a website to help increase traffic to your restaurant. Even salon owners can sell products online as a way to increase the income stream.
No matter what type of business, there is a platform that will work for it. Additionally, if you need help creating your site, there are businesses that will either build it for you or provide the type of support you need.
- It Adds to the Value of Your Brand
An online presence gets your brand out to more customers and makes it more recognizable. Just having a brick-and-mortar store, even if it is well-known in your area, limits you to local customers. Creating an online store opens your brand to a wider audience, and it helps you to create brand authority. Customers will buy products from a brand they recognize and trust.
Brick-and-mortar shopping is not going away, but neither is online shopping and buying. Having a combination of the two is one of the best ways to capitalize on the benefits of modern technology while keeping your face-to-face customers.