In today’s digital age, any business that relies on the sale of a product or service to consumers without an eCommerce website in 2021 is seriously missing out. With online spending in Canada projected to hit a whopping $108 billion by 2023, businesses of all shapes and sizes are exploring newer and more creative ways of generating revenue online.
Are you looking to take advantage of the surge in online spending? Still don’t have an eCommerce site? Here’s why you should turn your website into an eCommerce site sooner rather than later.
Generate Additional Revenue
As the name implies, an eCommerce website is another sales channel through which your business can generate revenue. Think of it as opening a new store in a new location, except this particular location can be accessed by anyone across the globe 24/7.
According to a report by Canada Post, over 80% of Canadians surveyed admitted to having made an online purchase within the past year. Moreover, other key eCommerce studies show that online shopping is becoming popular with people of all ages, with most millennials and Gen-Xers preferring to search and shop online and just under half of baby boomers surveyed prefer online shopping. Therefore, an eCommerce site is rapidly becoming a necessity rather than an optional extra for businesses looking to stay competitive and grow.
Operate Your Business Round the Clock
Business doesn’t have to stop the moment you shut shop for the day. Having your own eCommerce site is the closest you’ll get to having a 24/7 retail location, minus the staffing costs, utility bills, and other associated expenses. No matter what you sell, having an online store allows potential customers to browse your products and make purchases from anywhere and at any time, regardless of the time, day, and whether your physical location is open.
Reach New Markets
Is your store doing well in Calgary? Ever wondered how well it would do across the rest of Canada? What about the US? Or anywhere else? Just like opening up a new retail location gives you access to a new customer base, launching an eCommerce site offers you the opportunity to reach new markets.
Instead of being limited to a physical location and restricted by opening hours, however, you gain access to a global consumer base ready to purchase what you’re selling. This, in turn, creates endless opportunities for you to target new areas and explore additional income streams.
Improve Customer Experience
As a business owner, you can’t simply focus on the numbers, especially when targeting an online customer base. With customer experience growing increasingly important with each passing year, turning your site into an eCommerce site offers your customers unparalleled convenience, thus improving their overall experience.
In addition to browsing your products and making purchases online, prospective customers can check information such as your location, phone number, and opening hours via your website – adding an extra layer of convenience and potentially boosting in-store purchases.
Maximize Efficiency
Can’t ship your products to customers? No problem! Just because you can’t ship your products or for whatever reason can only sell your products in-store, an eCommerce site will still benefit you. In this case, your site will basically merge the physical and online worlds, creating a multi-channel experience that improves customer experience while speeding up in-store operations.
For instance, if you sell bulky items like white goods or furniture, you could use your eCommerce site to allow customers to browse your inventory, do their research, and make their purchases online. You’ll then receive their order and have it packed and ready for them when they come to pick it up. It’s that simple! Not only does make the whole purchase process more efficient, but it also allows you to redirect effort otherwise spent answering customer questions and choosing a suitable model to more important aspects of your business.
Reach a Wider Audience Today
You offer great products and services at your retail location, so why not offer them online too? Launching a new eCommerce site or turning your existing site into an eCommerce site enables you to offer those same great products and services to a wider customer base and generate more revenue. Contact the Three Marketers today to find out more about the benefits of turning your website into an eCommerce site.
