Last time, we discussed why the funny concept of a pop-up works so well. Today, we wanted to shine a spotlight on online stores and the benefits that businesses can reap from them. Let’s start with the basics:
What is an online store?
Much as the name suggests, an online store is a digital store. It is a digital space that is tied to your business wherein your customers can go and make their purchases. They can either pay online or pay on delivery (mostly depending on your options). The product that the client orders can either be shipped to their chosen location or can be picked up at a store location.
Here are a few benefits that an online store would have for your business and your clients:
Larger Customer Base
Not everyone has the luxury to go to your store’s location. Most of the time even if a customer really likes your product they’ll choose the business that’s closer to them. This means that you are losing out on potential revenue because your customer is far from you.
Having an online store means that you will always be within the reach of your customer! All they will have to do is to go online and go through the motions of the transaction.
Less Costs for You
If you find that keeping a physical location is too much for you to sustain, you can always pull back and maintain an online presence. If you think about it, Amazon is a big online store. They do not have a physical location. They started out in Jeff Bezos’s garage.
As you can imagine, the overhead costs of keeping an online store are pretty low.
Flash Sale Revenue
One of the best things about online stores is that they really drive up revenue sales. Business owners achieve this through flash sales. Anyone who is enlisted in your newsletter or follows you on your social media can be the recipient of a special code that enables a flash sale.
Not only does this help provide a ‘personal’ feel for your clients but it also incentivizes their spending. Those that purchase a certain amount are often treated to freebies.
As You Can See
There is nothing like convenience to really entice a paying customer. Having a brick and mortal location is no longer the only option that consumer have. While having a brick and mortar location is still good, you can reach more people by having an online store. In the grand scheme of things, those who provide several options for their customers survive the best.
What benefits of an online store can you foresee for your own business?