ecommerce-store-importance

The e-commerce fraternity is expanding at an astronomical growth rate in the United States as more and more people have been enjoying the comfort of ordering products from their home.

The need of having an e-commerce store set up by an expert e-commerce consultant is increasing by the day as a sound online presence assures the businesses with the potential of reaching widespread audiences in a short span of time. Selling a range of products and services online can demonstrate a comprehensive range of benefits to boost the business.

The following factors would explain how an e-commerce store can increase sales and fortify a business’s position in the market:

1. Reaching more customers, scalability, & exploring broader markets

An online shop stays open for 24 hours a day, throughout the year. You can offer your products and services internationally to millions of people or a lot more, depending on the type of product you have in store for everyone.

New techs have been reducing the barriers that startups and mid-scale enterprises had to face to target global markets.

There are a lot of active businesses in the United States that earn a major portion of their revenues from overseas markets. You would never be limited by the geographical obstacles (or time zone restrictions) a physical store may present — a principal advantage for any online business that has a mobile-friendly web application along with an app to target maximum of shoppers online.

To widen the customer base, online businesses also have the option to follow several ancillary ideas for the purpose of attracting new customers, such as:

  • selling at events and pop up stores
  • collaborating with other brands, offering free giveaways
  • targeting specific groups of customers on social media platforms
  • partnering with influencers online

Once you have an e-commerce store in place, there are hundreds of integrations & tools which would help you explore untapped opportunities, draft goals, market & implement strategies, and monitor the overall progress.

Reach of ecommerce

Demand analysis for your products in unfamiliar locations can be uncovered with ease by either observing your competition or running an introductory campaign online to oversee the response. 

If the initial outcomes are in your favor, then scaling your online business becomes quite flexible and straightforward with the availability of extensions & plugins to take care of almost every operational function like marketing, shipping, order & inventory management, taxation & compliance, and payment handling process, etc.

2. Personalized customer experience brings more business

Trades thrive when customers return. Customers only return if they are satisfied with the last purchase. They return whenever they want to make another purchase out of their necessity or they are convinced enough with the recommendations they saw before. 

An attractive e-commerce store does not make the consumers hesitate too much about your offerings or research on how a particular product would fulfill their requirement. 

With modern technologies like AI and Machine Learning, an online storefront can be configured to serve every visitor with personalized content based on their browsing trends.

Personalized customer experience

An intelligent system identifies customer needs and makes accurate suggestions to guide them toward making the right purchase. The bright side is that this entire process can be automated to handle hundreds of thousands of customers simultaneously.

Tailor-made content can also deliver faster results, i.e., assist the consumers with finalizing the purchases as quickly as possible. Paying undivided attention to multiple visitors in a brick-and-mortar store is not feasible for many reasons. However, an online store exhibits unparalleled benefits over physical shops, if meeting customer expectations is one of your business objectives.

3. Reduced overhead costs

E-commerce comparatively reduces expenses to operate and expand a business.

Searching for the best location for a physical store in a premium locality shall require an initial investment in order to pay a hefty amount of money toward rent, utility bills, decor, maintenance and store management. However, launching an e-commerce store is relatively affordable and fast – thanks to platforms like Spree Commerce.

Spree Commerce is open-source and completely free to use, allowing anyone to get an online storefront customized with smaller investments. Specialized to build e-commerce applications, Spree Commerce development process is very quick and can be tailored to target worldwide audiences.

Suggested read – Is Spree Commerce The Right E-commerce Platform For Your Business?

Expanding a retail chain means opening up of several branches along with maintaining the inventory in each store — considerably stretching overhead costs and prolonging the time to break even besides the constraints of product shelf life. A shopping website can be introduced to multiple markets without much difficulty or investments as there is no need to actually hold a large amount of inventory unless required.

Ecommerce store can reduce overhead expenses

Customer acquisition and retention costs are lesser in the online industry. Instead of expensive television and print commercials, cost-efficient online advertising is a proven way to connect with millions of prospective customers, given almost half of the world’s population is connected online.

 

4. Happy customers are great marketers

Small businesses witness accelerated growth rates, if they have a persistent base of satisfied customers. I, as an avid online shopper, have recommended many purchases of mine to my friends and known ones. But, how did I make those purchases in the first place?

The answer is: Five-Star Rating System. All of my online purchases are always rated at least 4. Customer comments posted alongside a product play a vital role to guide a lot of prospective buyers to complete the sales process. That’s how the human mind works. People are very quick to respond to ratings which look like ★★★★ or 4.7/5.

Happy customers have an indispensable part in building brand awareness among a large audience because the online feedback acts as an invaluable instrument of success – a tool exclusively available to e-commerce businesses.

 

5. Keeping up with the competition

The face of business has been changed by the ever-increasing market share of online sales in the United States. Creating an e-commerce store is an essential measure to stay competitive as more and more people are getting used to shop online.

Running an online storefront has several competitive advantages of its own, like picking a profitable niche, targeting a dedicated audience, allowing other sellers to compete on your application, automated customer interactions, using social media channels to promote your business, etc.

With powerful e-commerce analytics tools in the market, competitor study can be done very precisely to identify and compare the three Ps (Product, Price, and Placement) with your rivals. 

To take full advantage of the boom in the world of online shopping, building an e-commerce store by choosing the right platform is of utmost importance to strengthen the commencement phase of your business. Superior e-commerce development platforms like Magento and Spree Commerce are extremely efficient for creating professional web applications for startups, mid-size businesses, and large-scale enterprises.

Does your e-commerce store need a mobile application, apart from a mobile-friendly responsive website?

Maintaining both the website and a mobile app is incredibly important to reach a maximum number of customers. Mobile applications possess a number of characteristics that are not present in smartphone-compatible websites. We have elaborated on how a mobile app can complete your online business in this article.

Building an e-commerce store is easy. Making it stand out from hundreds of thousands of online storefronts is difficult.

Vinsol is an eminent web app development agency with a sterling reputation for creating complex e-commerce applications. With our proficiency in Magento web development, command over Spree Commerce development techniques, and dexterity to deliver blue-chip Android & iOS applications, we have assisted hundreds of worldwide clients to achieve their business goals.

To build a next-gen web or mobile application, please contact us and we would be glad to bring you on board.

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