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How many businesses today sell their products exclusively through physical stores? Not many anymore, in my opinion. Ever since online selling became possible, it has become a top choice and a favorite among business owners. However, its popularity is not without reason as there are actually many advantages of e-commerce for businesses. Below are some of the main advantages of selling your products online through e-commerce.
1. Cost Reduction
Compared to selling through a physical store, it is undeniable and a no-brainer that the costs incurred to manage e-commerce are much lower. Businesses no longer have to worry about the cost of rent, store design, repairs, inventory, etc.
Labor costs are also much lower and more efficient. Oberlo notes that during the initial period of your business, you may not need a single employee. This is because the workload can still be handled by yourself. Even when your business starts to grow and you inevitably have to hire people to help you, you can hire people from all over the world to provide more options and flexibility.
Marketing and advertising can also be done more efficiently through the utilization of the platform itself. Attractive images and photos can serve as a complementary medium for the products you sell, as well as a marketing tool.
2. Data Collection and Personalized Offers
With e-commerce, you can also collect relevant data about your customers and make analysis for your next marketing strategy. This data can help you create personalized offers and product listings for each customer which will increase the chances of them actually being interested and eventually buying your products.
3. International Buyers
When you decide to switch to e-commerce, there are no boundaries between you and your customers. Anyone from any continent can see your products and buy them. Not only does it increase sales and profits, international exposure is also necessary if you want to build a brand that can help your business survive in the long run.
4. Better User Experience
For customers, shopping through e-commerce has become a necessity. They don’t need to visit stores one by one just to buy one item. It saves time and effort. With less time, they can learn about more products compared to visiting a physical store. They can also browse through the product list whenever they want without having to worry about store closing hours.
E-commerce also usually offers a wider range of payment methods. From digital wallets, credit or debit cards, to cash payments, customers are spoiled for choice. It seems that online sales and e-commerce are here to stay, especially since the aforementioned advantages appeal not only to small businesses, but also to big businesses, even to those who have been successful with sales through physical stores. You might want to design your own e-commerce now.
