Beat high-street costs by setting up an e-commerce site
If you’re starting a retail business, focus your resources on your online presence rather than a brick and mortar store
In this day and age, the inter-connectivity provided by the internet has completely revolutionised commercial trading.
Online marketplaces such as Amazon and eBay have become some of the world’s most successful and famous brands, with many millions of buyers and sellers respectively, providing money-making opportunities for anyone with a digital connection and a product for sale.
For a small online business, being able to so easily connect with its target market is a complete game changer. It makes for a significant change in the way budgets should be allocated when it comes to maximising sales.
Increasing footfall online
Traditionally, those who had the best situated or the most attractive premises would hold a massive advantage at getting potential customers through their doors.
Naturally, new and small firms without a great deal of financial capital would be at a disadvantage in the property market and miss out on the best spots with a high footfall.
However, an increasingly digital world has broken down these barriers and the internet is a much more democratic space for retailers. It makes sense to create an online shop and optimise your website to win customers online.
Starting an e-commerce business
Today, catching a customer’s eye relies more on a well-optimised and designed e-commerce website.
With all goods displayed virtually, all you really need is a suitable place to store your goods and dispatch them from.
Individuals can use their home to operate from, but eventually it’s likely that some form of specialised warehouse or office will be required-especially if you sell perishable goods such as food, or a delicate luxury item.
Seeing as your target audience will have no cause to come and view your warehouse or premises in person, you don’t have to invest massively into beautifying it as you would if you were based on a high-street. Your homepage is now your shop front.
Therefore, you have to commit to ensuring that your site is very distinctive from the competition, especially when you work in highly competitive industries. E-commerce has seen a huge leap in prominence in once niche industries such as that of vaping retailers, and those who fail to adequately differentiate themselves will fall behind.
Ensuring therefore your site has a regular flow of useful content can help position you as a ‘thought leader’ who knows their stuff, and prominently displaying your reviews/testimonials can also help display your reputation for quality and reliability
Investing in your digital presence
Investing in your digital presence is likely to yield more success for small firms than making extravagant purchases early on, which have a far smaller guarantee of success.
Whilst some industries such as clothing or cars require more of a physical presence due to people wanting to try out a product, the vast majority of sellers don’t need to physically be present to make a sale.
Directing your resources to carve out an online niche which markets itself to customers all around the world will see your brand reach more people than whoever just happens to walk past your door