In this day and age, consumers can compare stores and products, and also purchase items right from the convenience of their computers and smartphones. The accessibility of online shopping and ordering have helped e-commerce sales increase by over 500% in the past 10 years alone.
Launching an online store can seem like a intimidating task if you've never done it before. But with the amount of people online and today's technology, not selling online could be hurting your business more than you think. You could be missing out on some enormous sales opportunities. This Union Commercial Capital blog post shares 5 different reasons why you should sell online.
Business is Always Open
With the introduction of e-commerce platforms, a door was quickly opened to new sales opportunities for businesses that added shopping portals to their websites.
When you sell online, your business is essentially open 24/7. Customers from all over the US or even globally can shop on your site regardless what time zone they are in. That means you can sell your products any time or day.
Mobile Shopping is on the Rise
Tablets and Smartphones are fueling the growth of online shopping. Customers are using their mobile phones and tablets to review products, compare prices, and make purchases increasingly.
Mobile e-commerce sales are projected to reach $3.56 trillion in 2021; 22.3% more than the $2.91 trillion it registered in 2020. This marks a 24.5% increase in only 5 years.
Customers Shop More Frequently
People are always on their phone these days, and what better way to pass time than by shopping at your favorite stores. Gone are the days where customers had to actually drive to a store or mall to do their shopping. People can get the same deals and products all from their smartphones.
Expand Your Target Market
All small business owners are constantly looking for ways to attract new customers and generate more sales. Once you move your business online, you have the opportunity to discover target markets nationwide or even globally. This can help you reach new customers who are looking for the products you sell.
Everything is Trackable
One of the biggest benefits of selling online is being able to track everything. You can see where a customer is from, how they interacted with your site, products purchased, and what they left in their cart, etc. This data supplies key information for your business, for example, you can see if one marketing campaign was more successful than the other.
In Conclusion
The global e-commerce market is expected to total $4.89 trillion in 2021. That figure is estimated to grow over the next few years, showing that e-commerce is becoming more and more of a profitable option for online retailers. The benefits of having a webstore provides you with some great opportunities, so if you are thinking about adding this functionality to your site, hire a professional to make sure everything is done correctly and is working properly. Nothing can hurt a business more than a customer having a bad user experience.
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