Online shopping is ever-growing in popularity with the latest research stating that at least 95% of people in Britain are opting for shopping online. Unless a retailer is small and relatively new, it is more than likely that they will have an e-commerce website.
What Is An E-Commerce Website?
The basic definition of an e-commerce website is a business website that runs transactions transferring information using the internet. An e-commerce website can be used for many different industries including retailers and service-based companies. Although many people know what an e-commerce website is and regularly make use of them, there is not as much information on the advantages that it brings. We’ve devised a list of the top benefits of investing in an e-commerce website.
The most significant benefit of an e-commerce website is that it saves you a massive chunk of money. Whether you are a start-up company or an existing retailer, cutting costs is always going to profit your business. Choosing to sell online means that you will not have to spend money on a physical store. Many different additional costs come alongside a physical store such as rent, store displays, brand sign, tills, cash machines, along with having to hire and pay staff monthly to run the store. Whereas, an online store will only require aspects such as server cost, payment gateways, e-commerce hosting and courier services, all of which are considerably cheaper. Rent for a retail premises could cost up to £4,000 a month to maintain, whereas a hosting for a website would only cost around £200.
Around The Clock Sales
When running a physical store, it is impossible to be open around the clock, whereas an e-commerce website will always remain open, no matter the time of day. Customers will never be limited to having to rush to your store to take a browse as they will be able to look at all stock from the comfort of their home. Many people will spend their evening taking a look at potential purchases in the evening or early hours of the morning while they have some free time, with an e-commerce website they can make their purchase immediately without having to worry about opening hours.
Target More Areas
Many people refrain from shopping at stores because they are not local to the area. Having an online store means that you are not limited to just one area, once on the internet, your e-store can be seen anywhere in the world making your brand not only local but national and even international. The better you advertise and promote your business, the more customers you will entice in. Take a look at this useful article we found from Shopify, explaining proven ways to encourage an increase in sales.
Personalisation is an excellent way of encouraging additional sales from returning customers. There are many different ways that you can use personalisation to your advantage, and it is increasingly easier through an e-commerce website. Once a customer has made an account with you, every time they log in they can have suggestions for products they may like based on their previous purchase. Many online stores also send emails to customers reminding them of products that remain in their basket, encouraging them to go back in and make the final purchase.
Display More Products
In a physical store, it is common to have limited space, as new stock is delivered, it takes centre stage, and older products are often sent to the stock room. It is hard to find room to be able to display all products meaning that you may find yourself losing sales. Whereas, on an online store, all products can be viewed, new and old. There are no restrictions as to how many products can be on the website and they can remain on there until they sell out. Newer products can be displayed on the homepage, along with bestsellers. Particular products can also be located quicker through search bars and categories, making the all-around experience more straightforward for customers.
Encourage Impulse Buys
It can sometimes be tricky to encourage impulse buys in a store, as you do not want to come across as pushy. Many online stores instead add a section at the end of each product page with similar products, or add-on products. Another great way of encouraging impulse buys is to add a discount code that includes a countdown. If a customer sees that they could save themselves a considerable amount of money if they order within a limited time, they are more likely to purchase on the spot.
In a physical store, customers are more reluctant to give over their personal information, or they are in a rush and do not have time. On an online shop, to make a purchase, you have to submit necessary details such as your name, email address and postcode, unlike a physical store, people do not think twice about giving over their personal information. This gives you perfect opportunities to keep into contact with your customer and build a relationship where they continue to invest money into your products.
Having a business website as a whole increases customer trust, but this can be massively increased on an e-commerce website if you focus on customer service. If you consistently meet deadlines, deliver on time, respond to enquiries efficiently and send delivery progress emails, customers are more likely to return and recommend to a friend.
Having the ability to sell your products online is a huge advantage and will dramatically increase sales. Customers are more likely to shop online from the comfort of their home as they save both time and money. Regular discounts on, in particular, delivery will prompt customers to spend more money while the offer lasts. An e-commerce website is an excellent choice for a new, start-up business as they can trade in a more money-saving process.