With consumers moving online at an astounding rate, why is it crucial for the entire offline shopping fraternity( big or small) to shift from their traditional bricks and mortar business to an online eCommerce business?
62 percent of online buyers shop at least once per month and in addition, 26 percent of online shoppers shop online once a week, and 3 percent claim to shop once a day. (Oberlo)
This study reveals that online marketing can be a triumph card for all offline retailers who want to evolve with consumers’ preferences.
But how can it be a boon for offline retailers?
Establishing an online eCommerce website can be a multi-million dollar profit investment for offline marketers.
Consider the following reasons to build an online presence for your offline business:
- Unlike a traditional physical store, building an online store comes with considerably lower startup costs without any payment for a large physical space.
- A vital benefit of having an eCommerce website is that your customer can place orders at any time and to support them you will be available 24/7.
- With an online presence, you can give customers just the information that they are looking for, and just when they are looking for it. Also, through the internet, you can educate, instruct, and solve customer problems instantly.
- With the use of several online service providers, you can now take all the components of your business process online, such as purchasing, billing, order fulfillment, and shipping.
- With a good website, you can literally have thousands of people visiting your online store at once to purchase, resulting in higher business productivity.
- Many retailers are launching online businesses for the time, economic, and location liberty it offers.
Still in doubt then look at another relevant reason…
Consumer buying behavior in Lockdown
As in many countries worldwide enforce strict lockdown measures to limit the spread of the virus, the number of consumers shopping online, especially for groceries and essentials, has skyrocketed.
It is setting up a paradigm shift in consumer buying behavior.
9 in 10 consumers have changed their traditional shopping habits and over 50% of consumers have ordered products online that they would normally purchase at the store. (Business insider)
One of the major drift in consumer shopping behavior this year has undoubtedly come from the consequences of the coronavirus.
In the lockdown period, there has been a surge in the use of online channels and with the constant support of the consumers, this trend will outlast even after the lockdown is lifted.
Online marketing will mark a tipping point in the upcoming years for every offline retailer.
Want to know more?
We are pleased to invite you to our exclusive eCommerce Masterclass to give you a clear online marketing vision.
Date: 27th May 2020
Time: 5:00 PM IST
Topic: Retail Offline and Online – Transitions and Scaling up
The Masterclass will be hosted by the leading industry expert, Umair Mohammad, Founder, and CEO of Wigzo technologies.
Below are the Key Takeaways
- An in-depth masterclass on taking your retail store online
- The prerequisites for getting your retail business online
- How to integrate your offline data to your online store
- How to scale your online presence
- How to set up the operations for your Ecommerce Business
- Q&A Session with all the panelists
If you are keen to understand the evolving structure, trends, and impact of online retailing to broaden your business presence, then this eCommerce Masterclass will be a grand chance for you.