Online marketplace has become the synonym of ‘sell everything, buy anything’. Bludgeoning of internet users fused with the concept of e-commerce gave birth to the online stores which could give the traditional brick and mortar stores a run for their money. Take a sneak peek to realize the perks of setting up a business online:
- Low start-up expenses
For a typical brick and mortar store, getting hold of the suitable place to setting up is just the beginning of the frenzy .Property tax,rent,licenses and insurance expenses will cost a fortune in both time and money.On the other hand, an online store will need a SSL certificate,domain name and a nominal monthly fee of the gateway. After the development of the website, the expenses will be way less as compared to a physical store.
- Adieu to overhead costs
E-commerce stores are a huge saver on operational and maintenance costs. There is no compulsion to employ pay shop assistants or answer pre-processing queries.A helpline number or an e-mail is sufficient to cater to the enquiry of a potential customer and that too at any time of the day.Well defined products could be easily sold with minimal human interference.
- Expanding your horizons
What if Flipkart was a general multi-purpose store in Miami instead of being an e-commerce giant? This is where the power of internet is realised.Having a physical store not only limits your share of customers but also decreases your geographical reach.Internet caters to 1 billion people which mean that a product can reach billions of potential customers through an online store, increasing the possibility of sales.
- Flexibility on the go
One of the striking features of an online store is the ease at which modifications are done.For example,if there is a requirement to change the price of a product then all that is needed to be done is to change the value in products’ price field and the concerned changes will be done in the backend in a jiffy.Added perks include ease of putting up discounts,displaying special offers and customizing the website too.
- Easy marketing
Gone are the days of flashy pamphlets and neon hoarding.Having an online store makes marketing a mere cakewalk. Branding and marketing are one of the attributes that the Internet can boast of. Promotional e-mails, social media, Search Engine Optimisations clubbed with low costs are the stepping stones to voice a product online. Successful business people nowadays are assessing the market and targeting potential customers by studying the demographics.
- Gaugeable output
Amidst all the razzmatazz, the tricky part is that how can be a business’ success analysed? There are various online soft wares like Google Analytics which can periodically assess the percentage of the revenue received by the website during the specified interval clubbed with various other features.
All in all, switching to online business mode is a win-win situation. Independence to operate at any hour and unmatched global reach is what helps to make it an unparalleled source of income.Successful e-commerce websites like Amazon, eBay and Flipkart are the harbingers of the age of online shopping and it is nowhere near its culmination.
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