There are quite a number of businesses across the globe going online every day. Driven by inflated costs caused by factors such as high start up cost and long hours, entrepreneurs have been migrating to the online platform for selling their products and services.
Major portion of market share in retail sector is now owned by online stores
Online retailers are continuing to carve out a major chunk of market share of traditional brick and mortar stores on a continuous basis. Recent advancement in technology and corresponding adaptation by shoppers toward online processes are the driving force behind this trend.
This growth is also attributed to E-Commerce retailers’ ability to leverage a plethora of buyer behavior information that online business websites offer. E-Commerce retailers are able to use this data to their credit for creating increasingly effective, shopper-centric, and customized online experience.
Shoppers have much limited time than their spending capacity
From research, it has been proven that shoppers normally pre-set their mind about how much time they want to spend on shopping. Most retailers are not aware of how much time customers are willing to spend. They are under the impression that their offerings and merchandise are capable of enticing the buyer to remain in the store for more time than that they intend to.
The average trip time of shoppers in stores has been found to be a mere 6.5 minutes, putting pressure on retailers to merchandise their ware efficiently to buyers in such brief visits.
Advantages of E-Com Business mode
Web-based businesses incur low start up costs; they have the ability to reach tens of thousands of people across the world in short time.
- Low start up costs
- Work from Home
- Marketing Intensive
With just a few hundred dollars, you can get a simple website. It is also possible to sell your products on websites such as Ebay, Amazon, and others
One of the great perks of owning web-based business, this mode of operating avoids commute, saves time, and offers freedom and convenience that will never be available in brick and mortar stores
Marketing your products and services through SEO, PPC, affiliate marketing, and other online promotion methods leads to success
Online retail stores have become the common staple of modern life. Convenience of choosing products and shopping are the major factors that contribute to this trend.