The era of the internet and the consequent proliferation of high-speed consumer data access has thrown a wrench into long-established traditional business models. For small to mid-size brick and mortar retailers, adapting to the growth of eCommerce has proven to be a tough pill to swallow..
For those business owners longing for the “good ole days,” resisting the shift towards a technological world, one focused on e-commerce, can be like trying to paddle upstream. Adapting a business to include eCommerce functions requires a great deal of work, and could be harmful to the business if they do not understand how to embrace eCommerce technology.
How can a traditional merchant make the most of eCommerce?
Roll with the Punches
Since eCommerce develops and evolves together with the technologies which supports it, it’s really becoming workable at smaller and smaller scales. Once, powerful software and internet infrastructure were only accessible to businesses at high cost tags that only major corporations would be able to utilize, today there are more new and cheaper solutions to be found.
Thanks to emerging technology and consumer trends, it’s possible for a business of any size to get online to sell their merchandise. Additionally, because of the internet’s global scale, It’s also possible for traditional business owners to consider altering their reach out of a local market to a nationwide one, or even a global one. To put it differently, maintain your conventional in-store operations but also put your products online and also catch sales from anybody, anywhere.
A little investment in software and web design, coupled with a solid inventory, can transform a company from a completely brick-and-mortar operation to an online retailer with a robust presence.
Turn Eggravations into Opportunities
Last year in the usa, that the eCommerce industry netted $409.2 billion in annual earnings and by the end of 2018 specialists endeavor a second $461.5 in sales through eCommerce. 2022, earnings predicted to grow by 38 percent. What’s more, recent studies have demonstrated that 96% of Americans that have internet access have made an online purchase sooner or later and four out of five US adults online have purchased through eCommerce in the previous month.
E-Commerce is currently as popular as in-store purchasing, with 51% of Americans citing online as their favourite way to store. eCommerce is steadily cutting off bigger slices of the revenue pie year after year, and traditional business owners would do well to adapt to its rising tide or lose out on profits.