Are you considering opening a store and wondering about the pros and cons of online vs. retail? There are many things to consider when starting a business, including how much capital you have, your marketing strategy, and how much time and effort you want to invest.
While it’s never easy to start any business, online stores offer many conveniences and opportunities that retail stores just can’t match.
So let’s examine the many reasons why online stores are better than the retail kind.
Why consumers prefer online stores
First, let’s consider consumers.
Everyone loves the convenience of shopping online. We don’t have to drag our kids to the store, battle traffic, and find out that the store doesn’t have what we were looking for in the first place. Also, how do we know that we’re getting the best deal?
Instead, with online shopping, we can shop from the comfort of own own home, easily compare prices to find the best deal, and buy exactly what we want with the simply click of a mouse.
Why online stores are better for small businesses
Let’s be honest: it takes a lot of capital to own and operate a retail store. You’ll have to invest a huge amount of money getting a store built and ready for business before you make anything on your investment. Many small businesses just don’t have that kind of cash lying around.
Also, you’ll have to pick a specific location for your retail store. Are you sure you are picking the best spot to maximize your revenue? What about all of your customers who don’t know where your store is? How do you target them?
Plus, you’ll have to hire and manage employees for your store and pay rent every month. To pay for all of this, retail business owners must work long hours.
More benefits of online stores
One of the best things about having an online store is that you get to work from home, saving time and money on long commutes. Even if you have a short commute, you’re still spending at least an hour or two each day that could be better spent on your business. Working at home means greater convenience and freedoms that you just don’t get from running a retail store.
Also, you get to choose when you work! Online stores are always open, but that doesn’t mean that you have to be. Your online store can largely run itself, while you take care of the backend processing.
Plus, if you have a few warehouses, you can ship your products quicker, and these days with quick delivery, your customers can receive products faster than ever before. While it still my be faster for them to visit retail stores, it’s much less convenient for them, so you have an advantage.
Of course, having an online store means that you’ll have to learn about things like SEO, affiliate marketing, pay per click advertising and other means of online marketing. But there’s a learning curve with starting any new business, and you can always learn on the job.
In the final analysis, online stores offer many advantages and opportunities that retail stores can’t.
Copyright © 2018 SME9ja. All Rights are Reserved.