Innumerable companies around the world thrive with eCommerce. Some are purely eCommerce, only doing business online; others are associated with a brick-and-mortar business. The worldwide retail eCommerce business is booming. According to eMarketer, it’s expected to continue to experience double digit growth through 2020. At that time, sales will exceed $4 trillion.
This business model works well for all sizes of businesses, from a one-person business to Amazon. Moreover, it also works perfectly well for all kinds of businesses. Besides stores, an eCommerce business could be used for businesses that provide consulting or teaching. They can also be used by service business by making it easier to set appointments.
Since all these businesses need to charge clients or customers before they can deliver a digital product, dropship a product, or provide a service, websites must offer payment gateway solutions that provide global payments, prevent fraud, and promise security. In addition, they should also make available intelligent payment routing and subscription billing.
Most big businesses have realized that simply having an established, physical business is not enough. It makes a huge difference to create an online presence as well. In addition, many forward-thinking small businesses are developing an online presence.
However, not everyone who runs a business is onboard. If, for example, you have a small, specialty store, say a hobby shop, you might feel an eCommerce business would be nice to have but not necessary because hobbyists like to look at your modeling and craft supplies live in living color. They also usually have lots of questions about the model airplanes, trains, ships, and houses and buildings that you have available.
However, an eCommerce business will suit almost every kind of retail business, even a highly specialized one. So even if you have a hobby business that requires your expertise in describing your products to customers, here are five reasons why an eCommerce is still important for your business:
1. It is easier for customers to research
Traditionally, customers would come into a store or make a call to see if the store carried what they needed. While this still remains true, they also like to do a little online research. Often if the product picture and description are clear enough, they might decide to buy it on the spot. In other words, the easier you make it for your customers to buy what they need, the higher your sales will be.
2. It is easier and cheaper to advertise
Besides using paid advertising you can also promote your business in a subtle way through social media. If you can provide shareable content, you will build a relationship with buyers. If, for instance, your store now sells remote control planes, you can share posts about how to start this hobby.
3. It is easier for customers to buy
As much as they would like to, sometimes customers can’t come to your store. Your hobby shop may be too far away, or they don’t have transportation, or they don’t have the time to shop because they work long days. Now, they can still get what they want without having to come to your store to make the purchase because it’s only one click away and takes only a few minutes of their time.
4. It’s easier for you to expand your product line
Your physical store has one limitation: size. No matter how big it is, the universe of hobby options far exceeds the room you have to display and stock all the different things people are interested in. Now through your website, you can provide a search feature that gives customers the chance to make a special order through your website. Once a customer places an order, you can then make a direct purchase from the manufacturer.
While large businesses have an online business as a matter of course, many small businesses are hesitant to build a website to grow their brand. The two main causes of resistance are that they don’t have the technical skills and that they can’t offer a personalized experience.
While these may look like valid reasons, they don’t stand up to scrutiny. The technical aspects of building a website can be hired out, including maintaining the website once it is set up. Moreover, an eCommerce website can also be customized to offer personalized experience through fast customer service, recommendations, rewards, and order tracking. In short, there are an online store matters for the growth of your business if you sell products or provide a service.