E-Commerce involves the act of selling and purchasing products or services online. Though E-Commerce companies have been in India for more than a decade now, online shopping has been gaining popularity in recent times due to two primary reasons. The increase in the number of internet users and the higher penetration of smartphones in India together have brought many people online. When most of your consumers are spending a considerable amount of time of a day on the internet, that is one place you will definitely have to be present. The online business can certainly boost your company’s prospects. To help you understand better, we have listed out 9 solid reasons why you should consider creating an E-Commerce website for your business.
- A New Avenue for Your Business
If you already own a business then you may be having shops or outlets where you sell your products or services. Creating an E-Commerce website for your business adds another avenue where the sale can happen. An online store website is nothing but a virtual outlet of your business. Compared to a physical shopping outlet, an E-Commerce site costs you less and has many benefits which will be explained in the points that follow.
- Expands the Reach of Your Business
An E-Commerce website can be accessed from anywhere in the world. This extends the geographic boundaries for your business. A well-optimized and well-marketed online shopping site can help you get orders from everywhere in the city or state you target.
- Sell at Anytime to People from Anywhere
Unlike your physical shopping outlet, an E-Commerce website can be accessed/visited by your consumer at anytime of the day and from anywhere. This increases the flexibility of running by taking your business online and can also improve sales.
- Low Investment and Higher Returns
As compared to the rent paid to the outlet, the salaries of the staff and the maintenance of the physical outlet, creating and maintaining an online shopping website cost you much lesser. The ROI or returns on investment to is higher as compared to having a physical shopping outlet.
- Customer Experience
Purchasing products online is much easier than physically visiting an outlet. Not just that, but with a well-designed online store website with a wide range of products and services, customers can have a delightful experience shopping. They can take their time navigating through various products/services checking out the functions/features and cost of each of them. The customer delight that may be achieved through a well-crafted E-Commerce website is intangible.
Good to Know Facts
- Urban youth are more likely to shop online than spend time on trips to malls – YouGov-Mint Millennial Survey
- More than half of India’s online shoppers are less than two years old to online shopping.
- “Phone shoppers” from India’s Tier II and Tier III cities have contributed to the growth of country’s E-Commerce industry – ASSOCHAM Study
- Understand Your Consumers Better
This probably is the most valuable outcome of having an E-Commerce website. In the digital age, they say, “Information is wealth.” The data that you collect from the time spent by your prospective customer on your online shopping site can help you improve your business. Through navigation and clicks, the interest of your prospective customers gets stored in the form of zeroes and ones. This can be analysed to gain valuable insights and set effective business development strategies.
- Stay Connected with Your Customers
An E-Commerce website helps you stay connected with your consumers in various ways. The Email ID shared by your consumer during the time they purchase a product/service can be very valuable to your business. It helps you stay in touch with your consumers and collect feedback through various digital channels and gives you an opportunity to serve your consumers better.
- Reduces Cost on Marketing
An online shopping website can also help you reduce the cost of marketing. Digital advertisements that run on online on various platforms or the posters related to offers and new products on your website can cost you very less or may not cost you at all. You can also run Email campaigns and various other types of social media marketing campaigns to target prospective consumers. Remarketing is another great tool where you can run ads specifically targeting your consumers’ interests. All these marketing initiatives can be fruitful for your business.
- A Competitive Edge to Your Business
With digitalization spreading its roots across the business world, it is imperative for companies to upgrade their digital footprint on a war footing. Working in this direction, having an online store website for your business will definitely give you an edge over your competitors in the market.
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