As the pandemic continues to impact small business owners’ lives and livelihoods, making the switch to selling online is becoming a necessity. Statista predicts Australia’s online shopping revenue will grow to $34.5 billion this financial year. If that’s not reason enough to jump aboard the eCommerce train, we give you the lowdown on the other business benefits of selling online.
Here are five reasons to adopt an eCommerce strategy for your business.
The world is your shopfront
Setup an online channel for your products or services, and you open a window to the world. With a few clicks of a mouse, your customers can visit your eCommerce shop and peruse your products from any location.
James Bruce, the founder of Melbourne-based beverage company Strangelove, says setting up an eCommerce channel has allowed him to expand his business.
“Selling Strangelove on Amazon Launchpad has boosted our business. It’s really allowed us to put our product in front of a whole new range of consumers. Amazon’s expertise in freight and logistics has allowed us to ship out our product really easily,” Bruce says.
Lowered operational costs is a tangible benefit of eCommerce. Automating processes such as checkout, billing, payments and inventory management can deliver immediate savings for a business, not to mention an eCommerce store doesn’t have the high running costs that come with a physical location.
Shopping becomes an intuitive customer experience
If you’re looking to up the ante on your customer experience, a well-designed eCommerce store can deliver in spades. You can setup your eCommerce channel to remember customer preferences to facilitate repeat purchases and provide a more personalised customer journey. Analytics allow you to track what they’ve bought from you and when and even suggest other products they might like to purchase. Analysing conversion and engagement statistics means you can make smarter decisions and offer rewards and customer incentives at times of peak engagement.
Take a deep dive into products
Price, convenience and product range is driving an increasing number of shoppers online. Today’s consumers are a savvy bunch and will often use the internet to research products before purchasing. A simple google search could see your products come up trumps showcasing your business to customers who may have never even heard of your brand. Your eCommerce channel allows you to give these customers a deep dive into the details. By setting up individual product pages, you can provide rich information about your offerings.
Online all the time
eCommerce stores run 24/7 365 days a year. This increases the sales opportunity for a business owner while customers have the convenience of an ‘always open’ store. In addition to trading hours restrictions, physical stores can also face arbitrary restrictions on product lines, including rules on what products can be sold at particular times, imposing additional costs to retailers. Online stores have no such hindrance, further increasing your sales opportunities.
Convinced that your business might benefit from the wonders of e-commerce? Join the next generation of emerging brands on Amazon Launchpad. Apply now.