How is E-commerce Different from Traditional Retailing?
How E-commerce is Overpowering Traditional Retail?
The whole business world is trying to embrace the online world. This is not something they are choosing by themselves. The younger and upcoming generation is more and more involved in it and in the end, businesses tend to try what their audience is liking. Hence the need for E-Commerce strategies. Let us look into how E-Commerce is overpowering traditional retail.
1. 24×7 Open For Service
All E-commerce platforms support staying open 24×7 hence you don’t have to worry that you might miss any customers. Anyone can simply access your website online and look for what he wants. It does not take any effort to stay open.
It provides great convenience to your customers at all times. Whereas traditional retail if they choose to close the shop on an unlikely day then they may miss out on customers.
2. No Geographical Limitations
A very common yet effective advantage over traditional retail is having no geographical limitations. There are no geographic boundaries for an e-commerce websites as anyone can access any website from anywhere.
This is one of the biggest advantages because this increases your chance of increasing the customer base. Traditional retail, located in one city may only expect customers from that city.
E-Commerce can expect customers from all over the country and maybe even outside. It all comes down to your Ecommerce supply chain supporting your geographic presence.
3. Low Set-up Cost
The set-up cost for an e-commerce website is much much less compared to traditional retail. This helps you save your money when starting up an Ecommerce business, hence you can invest that in something else which is more effective.
Once your website is live, customers can visit your website and at first, you may spread the word about your website as your website won’t be reaching out to your audience so soon. Although to make your eCommerce website thrive may require some additional cost to make a direct impact and run your website as an ad to reach out to your target customers.
4. Gains New Customers From SEO
E-commerce has the option and advantage of using search engine optimization (SEO) to reach out to new and specific customers. This is a great way to showcase your business to new customers.
With this, you can also narrow down your approach to only those customers who are already interested in your niche. A very convenient and effective approach. Whereas for traditional retail, it is very difficult to reach out to new customers.
Starting your own e-commerce store can help you a lot by saving time, cost and many more things. Starting an e-commerce business related to customizing the product can be more helpful. You can sell custom Popsocket, wedding koozies, custom koozies, t-shirts and many more things.
5. Eliminates Travel Cost & Time
As an e-commerce store, you are everywhere at all times. Reaching out to engage customers of an e-commerce store is much easier and requires no travelling. This saves time and money.
Whereas traditional retail is fixed at one location and to reach out to it will require travelling, some customers may need to travel more than others and this will require travel cost and time. This impacts number of customers reaching out and the conversion rate along with the time span of them visiting your store.
6. Easy To Locate Products
It is much easier to locate the products on an e-commerce website compared to traditional retail. On an e-commerce site, customers can look at every product they offer whereas in traditional retail you will have to showcase your product in a systematic order and can still not showcase everything you have.
This gives a benefit to e-commerce over retail because sometimes customers themselves don’t know what they like. It is only by looking do they get an idea about the product they want.
7. Data Analysis
A very important feature that being online can provide to all e-commerce websites. The use of data analysis. For example, you can find your audience using Google Analytics and monitor your website traffic, the pages people visit, and understanding what keywords people use to find your site.
This is something that can help you keep track of how your website is performing, which are the top pages on your website, what customers are liking more and how many customers are actually converting. Such data can prove to be very helpful for future strategy making and targeting your audience.
E-commerce is Overpowering Traditional Retail
This is how E-Commerce has been overpowering traditional retail. Bricks and mortar retail is not completely dead and increasing the online presence of an Ecommerce store is getting easier every day.
A business must have an e-commerce presence in today’s competitive world. It will only help you to reach out to more customers and eliminate your geographical limitations which could be a huge boost for your sales.