One of the top trends today is to create an ecommerce website and start your own business. Online sales are growing worldwide which will continue to grow and will be a $4.5 trillion market by 2021. In 2017, ecommerce sales accounted for $2.43 trillion whereas in 2018 they accounted for $2.86 trillion which is an 18% increase. As per statistics by 2040, 95% of purchases will be made online, which means ecommerce is an emerging industry for entrepreneurs and developing an ecommerce website is worth the effort.
Following are benefits of developing an ecommerce website,
A- Cheaper Employees
As you grow you will need more employees and like your online business these employees can also work remotely or online from any part of the world. You may choose to outsource to countries where the labor is cheap.
B- Customer Retargeting
With an ecommerce website you can retarget or remarket to people who visited your website but did not make a purchase. Your ads will be shown to previous visitors while they browse the web.
C- Low Cost
There is little cost to develop an ecommerce website which includes domain and hosting purchase and a one time website setup fee and then you are ready to go.
It saves you from startup costs such as rent, improvements, equipment, inventory or other expenses.
Furthermore, for physical stores more staff is needed as compared to an online store which means more salaries.
D- 24/7 Service
Normally most of the stores don’t open more than 12 hours a day but with online stores you are open 24 hours. For this reason you are attracting different kinds of people those who don’t want to go to a shop or are too busy with their schedule or those who would shop if they were open.
E- International Selling
One of the benefits of online business is that you can sell internationally it doesn’t matter if you are located in North America or the U.K. or any other country you can target audience anywhere.
When you dropship to customers from your ecommerce website you don’t have to worry about inventory or shipping products to customers
G- No Long Queues
In a retail store customers can get frustrated with long queues but with ecommerce business there is no waiting time and the business can handle as many orders possible
H- Easy Access to Customer Data
People might hesitate when giving their contact details to physical retailers but when it comes to online ecommerce business you can get them to fill a form in return for a favour
I- Bestseller Items
It’s easier to show best selling items when running an online business the reason is people want to buy what others have already bought and are happy with it.
J- Impulse Buying
When running an online store one can showcase their product with attractive photography, colors and emotions which triggers impulse buying.