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With the rapid growth of dot com business, brick and mortar businesses have seen a major downfall resulting in arising a common question- To Go Online or Not? Well, changing and emerging online trends have dragged the companies to come online and recover from pitfalls. Plenty of good reasons come ahead to start your eCommerce business to earn extra perks.
Reasons Are Listed Below
eCommerce is Growing Day by Day
eCommerce business has experienced growth of 7.3% since 2008 as per United States Census Bureau. There is a moderate jump of eCommerce business growth from 3.5% to 7% in the last half decade. The data shows that there is a huge scope for this sector to grow. eMarketer report expected that eCommerce will experience high growth in the next 2018. By the end of 2018, it may reach up to $2.5 million. Even, if you have a look at the U.S.A market, growth from 11.6% to 16.5% is expected from 2013 to 2018.
Well, while starting a new web store, choosing a right business model by considering the current trends and understanding the growth helps in making the right decision.
Online Shopping In Trend
Online Shopping hit the list of new trends in changing the consumer habits of purchasing from brick and mortar store. Changed technology has also brought a new trend of shopping with mobile. Whether you have big or small business, everyone would be able to sell more online compare to physical store.
The success depends on gaining your customer trust which leads to high sales. The fact depends on how you present your website, do customer find what they look for, how secure is their data online are few factors that helps in gaining customer trust. Vast explosion of eCommerce market today and positive reactions of consumer builds strong web presence, still more focus have to be laid on consumers privacy and data security.
Customer Acquisition
Unlike in physical store where chances of reduce customers create worry for your business growth, eCommerce business still finds the ways to cope in competition. Abandonment cart or declined customers can be optimized better again using the various retargeting apps and tools available online. They will help in gaining your potential customer trust before they are actually gone.
Traditional marketing approach would no longer work and you need to change the interaction behavior with customer. Availability of various marketing channels in the present era using various platforms offer you to connect with your customers, share your products, know their likes and dislikes and find a better approach to present what your customer actually wants.
Few effective ways of promoting your business online are sending promotional emails, presenting value contents that speaks about your products, capturing your customers attention and aware them about discounts or sales.
Influencing Purchase Decisions
Knowing your customer behavior is a tedious job and never ending challenge. When they do not find any product at physical store, then they turn down to online store. As the online store is flooded with the tremendous options they start looking for their product and purchase it.
Having a well-designed eCommerce business website attract customers to make a purchase. A product which is few clicks away can be avoided due to poor web design. Hence, make it easier for them to search and purchase product online. The main reason behind success of these eCommerce Store is its user friendliness of buying the products and availability of various options that turns down the physical store.
Popularize your Brand
An eCommerce store can popularize your brand more than a traditional brick and mortar store. The online store gives freedom to showcase your brand as you want. You list down specification of products, add more images, details and allow customers to get diverse options for their purchase. Things have changed dramatically. Today, you can make changes to your product pages, add or remove any details, inform your customers about your new products and share with the whole world.
Earn While Sleeping
Do you get freedom to sell even while you are sleeping? New technologies have allowed the merchants to set up their eCommerce store and start selling 24/7 for 365 days. This is the biggest advantage that serves with high business revenue to sell products even while the other physical store are closed. All round the clock, you are getting potential customers and achieving product sales.
Conclusion
Many entrepreneur have got idea to do business successfully online or have bit extra money to start a new business. Well, you would be glad to know that the eCommerce store is one of best option to start new venture. Lots of online resources are available that lets you to build an online store. No major programming knowledge is required, only you require is having basic understanding of HTML and CSS.
Alternatively, You can rely on eCommerce website development company who can give you a store that is been developed as per your requirements and latest trends. Only you need to is planning and think of success.
Yes your are right, a eCommerce site can make money while site owner are sleeping, making a brand eCommerce site is the best way to do so, nice post, Thanks Yogesh Trivedi
Thanks Darshit for covering this topic with your blog post. You have explained it very clearly and I like the tips to consider about knowing the competitors.