Switching from the traditional, brick and mortar store to the digital world of eCommerce might not sound new to you. After all, almost all businesses today whether from the retail industry or the food and beverage sector are now online. With most people depending mostly on their mobile devices and gearing towards online shopping, many businesses are now experiencing massive growth in sales due to local and international customers purchasing online.
Although having an eCommerce website has its perks, creating one is not an easy task especially for someone who hasn’t done it before. There’s a lot more to it than just choosing which logo or font to use or which payment method to choose.
Read on to learn more about the essential tips on creating a successful online business.
From In-Stores to Online Stores: What to Consider When Creating an Online Store
Transitioning from a brick and mortar business to an online store is one of the most popular, most effective ways that allow businesses to navigate in the midst of COVID-19 pandemic. While there are various positive reasons to take your business online, there’s also a list of things you have to consider before making such a huge decision.
Here’s a list of considerable factors you need to think of before creating your very first online store.
Products You Sell
Choosing which product to sell online is an essential factor you need to consider when planning to create an online store. However, you need to understand that not every product you sell in-store is appropriate to sell online. As such, you have to spend some time deciding which products to post in your online store and which ones to leave behind.
Unlike products that are displayed in-store, products sold online may be priced differently. One common reason is that products online are associated with various expenses such as delivery costs. Pricing strategies such as offering customers discounts on shipping rates or free shipping promo can attract more customers and can drive more sales.
Another major difference between in-store and online retail business is the payment option available. As such, you need to carefully consider which payment gateway would work best for your business. One of the most popular payment methods available today is the use of major credit cards for online purchase.
Inventory May Be Different
Since not all of your products may be suitable to be sold online, it’s most likely that you won’t be selling 100% of your items in-store on a digital platform. As such, you have to expect that your inventory may be different from your brick and mortar shop. When planning to start an eCommerce business, taking full responsibility for your physical store’s inventory is a must. Go through your inventory list and look for the things that you think may and may not be available in your online store.
Creating an online shopping website while operating a brick and mortar shop means dealing with extra work. In most cases, it also means hiring new staff to help you with administrative tasks. While you can choose to transition an existing employee from your physical store to handle your online store, doing so may likely cause confusion and inconsistency. The best way to do it is to hire part-time staff who have the experience to handle the responsibilities that come with online stores.
Along with other considerable factors, choosing which software to use is essential in creating a digital storefront. After all, the software you choose will greatly affect your customers’ shopping experience. In Singapore, two of the most powerful eCommerce platforms to complement brick and mortar stores are Shopify and WooCommerce
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