We all know and love shopping, well most of us anyway. Shopping online though is not yet the slayer of all things traditional, it’s still ‘in the mix’ when it comes to options for people to buy. This is changing and rapidly. Here’s three eCommerce benefits every store owner can enjoy.
Comparing Products Is Easy!
Remember the days when you walked around shopping centers comparing the price of a blender in this store and that, bargaining between the sales people to try and get the best deal? Well now you can do that in a matter of minutes if not seconds. Comparison also runs deeper than just price.
Now, you can flick between retailers comparing not only price but warranties, shipping details, return policies and more – all from your desk.
This can be a huge issue for online retailers, starting something of a ‘race to the bottom’. However, the more savvy retailers will see it for what it is – a way to differentiate yourself in any number of ways to create unique selling points (USP’s) that make them stand out from the crowd quite easily. Thus making the choice to buy from that particular retailer and easy one for the consumer!
Ignore this opportunity though and it becomes a massive threat, you’re competitors will leap frog you quickly!
Tip: AT LEAST once a month, pick your top 5 competitors and check their sites. See what they’re offering and know how you stand in the marketplace by comparison.
Travelling to the shopping center and endlessly traversing the levels going shop to shop is past history and remains the domain of those who actually enjoy it. Now, with information at the finger-tips, today’s consumer expects to get everything they need straight away. This means I should be able to buy what I need when I need it, not within the traditional 9-5.
The effort required to facilitate this for traditional bricks and mortar store owners is huge. The opportunity for online stores to make money while you sleep is massive!
What does this mean for you? Well the easiest way for eCommerce store owners to improve their performance is to ensure it’s easy to do business with them and to buy their products. The reality is that if you make it the slightest bit difficult, your customers are going to close your website and open another one!
It may seem obvious, but this really is one of the key eCommerce benefits.
Tip: Count the number of clicks it takes to get to the product the customer wants and then to buy it. It really should take no more than five clicks.
Rock Bottom Prices
We all heard that eCommerce was going to kill traditional retailing because of the sheer price difference. It was considered one of the main eCommerce benefits. Whilst this hasn’t totally materialised, price is still king when it come to online shopping.
The ability to flick between sites and the introduction of foreign retailers means that everyone can get a great deal every time – whether you’re actively looking for it or not!
This may sound like obvious stuff but for those who run both online and bricks and mortar stores it presents an opportunity because the margin you make when you sell online is much much larger than what you make in store.
Therefore, inventing new ways to promote your products in store whilst driving people to buy online really is key because you can make so much more money!
Tip: If you’re a business owner with both a physical store and an online store, work out how much more margin you make in your online store and then apportion your digital marketing budget accordingly.