We have heard many speaking of the amazing benefits that shifting to online retailing or how setting up an online store has helped customers in multiples ways but if you are an owner of a business, you should be more interested on what kind of gains that you could obtain by being a part of this online business community. We know that when you make your company open to the internet, it switches itself from the local state to the global state. This makes up the chance of you having the opportunity to reach a wider audience.
It’s quite common sense and a main stream advantage to know that when you have a wider reach to potential customers, there’s tendency for your sales to go up as well. If you are a business that intends to move into launching an online store, then a read through these benefits will encourage you to make a move and also it will provide you with more information into what to be considered prior to your big move. The first thing you need to know is whether you sell a product that can market without any human intervention. There are certain items that need a sales person to be helping and guiding you throughout the purchase and also whether the product can be sold with a fixed price for all the customers.
You may have seen that certain shops would know their regular customers off the face and will somehow give a discount to them while they might not give such a discounted rate if another agent is buying it for reselling purpose. However after considering how well you can balance out the costs and other factors, once you switch into an online store you will be able to achieve the following gains.
Reduce Operational Cost – when you don’t have a physical office base, you have no high rentals or lease payments to be made. The utility bills like electricity and telecommunication will go down. A local store would require work staff where as you can employ few personnel to handle customers online, to respond and to keep them informed.
Work hours – Having to operate 24/7 even creates the ability to provide people with flexible working shifts whereas the business can employ people across different countries to suit such different working hours as well.
Customer tracking – they have the ability to use different customer tracking tools to spot from where most customers are rooting from and what kind of products that the prefer the most and which areas of the site needs modifications in making it more customer friendly.
These are the potential benefits that online store launching could bring to your business. My advice would be to evaluate well on a proper cost benefit analysis according to your business model prior to any major business decision you make.