H1: Retail vs. E Commerce: Expand Your Business Offline or Online?
Title: Retail vs. E Commerce: Which Is More Profitable
Description: Are you thinking of opening a new retail store? But maybe it should be an eCommerce site instead? There are many pros and cons for each route. And we’re here to give you some business tips to help you make the best choice for your brand. Let’s dive in.
When expanding a business these days, you have two options. Firstly, you can open a new brick-and-mortar shop. If you already have stores in physical locations, your clients will appreciate having you in an additional convenient location. However, expanding can also mean investing in taking your business into the online world. The internet provides a plethora of opportunities to engage new audiences and scale your enterprise. For example, gambling establishments can offer online bonuses to create excitement around their games. Or a clothes retailer can leverage a super popular social media platform like TikTok to approach younger people with the latest fashion trends.
But which move is better for your specific company? There’s a lot of debate around the benefits and downsides of both retail and eCommerce. So, we’re here to go through the pros and cons for each and help you determine the next step that would work best for your business goals. Sounds good? Let’s dive in.
The Key Differences Between Retail and Ecommerce
Look, ultimately, both retail and eCommerce are concerned with one thing: selling products to customers. But while retail achieves that goal via person-to-person interactions in physical stores, eCommerce markets sell only through the web. And since both these approaches have multiple benefits, most savvy businesses employ them both. A good example is Walmart, which has successfully operated thousands of stores for over half a century. But that hasn’t stopped them from keeping up with the times and establishing a website for quick online purchases.
Business Tips From the Perspective of the Shoppers
One of the best business tips and ideas when coming up with a new strategy is to look at the issue from the clients’ perspective. The clients are the ones who will pay you money for your products, so it’s vital to make their purchasing process as convenient as possible. So, for example, a big plus for retail is that people can touch and feel the product before buying. In an eShop, the visitor relies solely on pictures and videos to know what they’re getting. That can often become an obstacle in purchasing the product, as the images can not always convey the item’s quality.
Here’s what you can do to make your clients’ experience in the eShop more immersive:
• Make sure your images and videos are high quality.
• Add some interactivity to your ads and app. For example, if you sell furniture, you could provide a feature in your app that lets people see how pieces of furniture look in their interior.
• Install a chatbot on the site that can help prospects 24/7.
The Purchasing Experience
Unfortunately, when buying an item from the internet, there are no business tips and tricks to get the product in the client’s hands immediately after buying it. That’s possible only when getting something from a physical store. Once someone has purchased an item, they can carry it out of the store. But the online shoppers need to wait for their order to arrive. The best you can do to overcome this nuisance is to get your shipping time down to two days. It’s one of the business tips examples that Amazon uses. And as an average eCommerce site offers 3-5 day shipping, the two-day option will stand out and win more clients.
The eStores Are Available 24/7
Here’s the thing: your shop on the internet never closes. And that allows you to make sales even when you and your staff are soundly sleeping. That’s something the consumers love. They don’t have to rush to your store to get there on time. And they’re not pressured to buy anything because they don’t want to make the trip again. Instead, they can make a cup of coffee, browse your site, and buy whenever they’re ready.
However, when it comes to customer service, many people prefer direct communication with a support agent. If you want your eCommerce venture to offer the same level of immediacy, you need to put in a lot of effort. Here are some business tips for beginners when it comes to establishing top tier customer service on your website:
• Install chatbots. That way, people can get answers to basic questions even when they’re shopping at midnight.
• Make sure you reply to the emails within one working day. Longer than that makes you seem uninterested.
• Connect your brand to social media channels. That way, you can talk to them directly via popular platforms like Facebook.
Whether you choose to start exploring the world of eCommerce or open another brick-and-mortar shop, both of these give you their advantages. So why not do both? With physical retail shops, people can obtain your items immediately after buying them. And the online storefront offers a convenient from-home shopping experience for your busiest clients. There’s something for all types of people. And isn’t that what every business should strive for?
Which business tips and guidelines would you give to someone who needs to choose between eCommerce vs. retail? Share your advice in the comments.
About the author: William Benetton is a famous writer, professional photographer and web-designer. Last few months he has been creating interesting, informative blogs and websites such as casino no deposit bonus. If you want to contact William, please check his Facebook. He can’t imagine his life without sport, travel and morning coffee.