Hello entrepreneur, are you having second thoughts about taking your business the e-commerce route? What if we tell you that there isn't a better time to kickstart one!
As per an eConsultancy survey, 60% of shoppers are not fond of shopping in a crowded mall or store and 51% prefer to shop from the comfort of their homes.
So, the era of brick and mortar purchases is bygone! We are in a phase where customers want solutions in just a few clicks. Whether it is purchasing B2C products like cosmetics, grocery, white consumer goods or industrial wares, ‘going online’ is the new wave.
As the majority of customers are inclined to shop online, more and more entrepreneurs are thinking of establishing web stores. Does that mean a tough market competition? Yes, it points towards that.
But the good news is that you don’t have to struggle to compete with Amazon or the likes of it. The internet enables even small companies to market online and adequately compete with big guns using e-commerce platforms like StoreHippo.
Going online has several benefits. The bonuses also depend upon the Industry type and your niche, i.e. what you are selling. As compared to a traditional set-up, getting started online is quite manageable and affordable.
So looking forward to opening your web store and yet clueless about what to pick? Well, check out these 5 businesses that can benefit hugely by going online. As you go along, you will discover the many advantages of an E-commerce store depending upon the industry you select.
5 businesses that can benefit hugely by going Online
1. Whole-istic approach for your B2B business
Well, let’s park the pun aside. But if you think that online sale is only for the retailers, then let us surprise you.
It is estimated that B2B online business is about to double in size as compared to retail, generating up to $6.7 trillion in 2020. Imagine the number of people you can reach if you tap into the online bandwagon right away!
More so, in today’s times, your wholesale customers are already armed with all the information about your company before approaching you. 89% of wholesale buyers do extensive internet research while 73% use Google to search for you online. More motivation to become an e-retailer, isn’t it?
Besides the perk of achieving good traffic, B2B entrepreneurs have another great advantage of opening a web store. Regardless of what you are selling, you need to keep bundles of catalogues for your customers. When buyers visit your store, they might want to see the products in person. This means you have to go through the hassle of maintaining inventory, hiring staff members and store maintenance.
Establishing your web store is an ideal option to get away with all this. All you need is a good, responsive website and you are good to go! Your product catalogues turn into product listings for your e-commerce store. Your customers can browse through the products, go through the reviews and make the choice.
This way you can not only save money by discarding the need for maintaining a store, but also allow your business to be more transparent. By optimising your business needs and satisfying customer demands, why not have a holistic approach to selling online?
2. Rent in need is a rent indeed
Did you know that the sharing economy industry is expanding exponentially across the world? Nowadays people rent everything including clothes, property, furniture, etc. through e-commerce stores. Just so that you know the estimated worth of the global furniture rental market is between 5 to 8 billion dollars.
Who is going to rent Furniture, but for marriage and party occasions where people hire specific sets of dinner tables? Sure, that’s a valid point. But look around you! You will find people relocating to metros from Tier I and Tier-II cities. Hundreds and thousands of individuals, families and colleagues are renting apartments in cities where they seek a professional base.
Do you think all these people purchase permanent furniture? Well, of course not! Most people look for alternative options such as renting furniture from an e-commerce store, especially if they know that the usage is temporary.
Your Online furniture rental business will reap all the benefits that other e-businesses will get. You need not have to keep all the stock, but tie-up with respective dealers to showcase the items on your web pages.
Still, think that this won’t work because customers would want to see the furniture physically? Well, even if your products don’t appear ideal for online sales, an e-commerce presence will let buyers discover your offer.
Today's tech-savvy shoppers spend more time researching online. 64% of buyers spend 10 minutes or more gathering information about what they are about to buy. They are online searching for products your business might sell. When you list your items online, you can increase your chances of appearing in search engine result pages.
And if you have different sales touchpoints, nothing like it! Customers can reach out to you on the contact number and address that you mention on your landing page.
3. A home-coming for your customers
Another B2C business that’s seeing great success online is real estate. Whether it is about renting a property or buying a commercial or residential space, you will find a fleet of customers for this segment.
Why? It’s simple. As far as this industry is concerned, shoppers come looking to your portal for information. Buying or even renting a property is a major decision. Unlike buying a book or clothing apparel online, it can’t happen in a jiffy.
Your potential customers would want to review and compare dozens of e-commerce stores and products at a go.
Rather than having to hop from one store to another or contacting several brokers, smart online shoppers chose to navigate different web stores. They take their time going through the information, terms and conditions, prices, etc.
Because all the information is for you to simply put up, you can avoid having face-to-face negotiations with buyers. You can do away with all the hassles of convincing the buyer or chasing them like a pushy salesman.
One way to cash in on this option is to provide all the basic information on your e-commerce store that your potential audience is looking for. Being transparent early in the buying cycle will help generate trust.
Try and make your web store an unforgettable experience by keeping the navigation easy and guided.
Property purchases involve longer sales cycles. So give your visitors a reason to provide you with their contact information, early in the buying process. This way you will be able to contact them and follow up.
Nowadays, e-commerce is for every kind of business. All you need to do is learn the trade and then learn the trick of the trade!
4. Set your heart on your Art
So what are you? An up-coming artist? A curator of fine handmade products? Or a sculptor? The good news is that the art retail market is flourishing like never before. An Art Basel annual report estimates global art market sales reached over $67 billion in 2018.
Staggering figures, isn’t it? When it comes to B2C products like apparel, accessories or private labels, e-retailers are bringing home the bacon. But in recent years, the art market has become one of the hottest new investment craze for a good number of people around the globe. Painting and sculpture collectors do not hesitate to add exquisite pieces to their investment portfolio.
Now you can always showcase your art pieces in a gallery or go globe-trotting to search for B2C customers where they are. But how practical is that? Besides, you will always have to deal with the nuances of taking care of your pieces.
In comparison to this, when you sell online, the benefits are far greater. Firstly, it will always give you room to showcase more of your pieces than in a traditional set-up. Moreover, by putting up good, high-quality photos, you can always be available for “made-to-order” demands.
This way, you can pull B2C customers from across the world and keep your web gallery open to visitors 24/7. Also, by opting for a mobile-friendly web store, providing a swift navigation experience and with a well-efficient logistics, you can be on your way to having a successful career.
Seriously, out of all the other sectors, this one is by far the easiest to launch online – it’s your personal web store!
5. Selling online is not a heavy load
In today’s times, there is nothing you can’t sell online. Cement, concrete, building equipment, etc. are also there on e-commerce platforms. However, for heavy equipment, it’s challenging to overstate the importance of social proof online. For this category, customers insist upon reading reviews. And that’s the main reason they come to your web store.
Of course, in comparison to clothes or other retail products, you might not have a beeline of customers for this segment. But that doesn’t mean you cannot reach out to your buyers and pitch them for sales.
One advantage of selling heavy-duty products online is the ease of collecting, measuring and acting on customer data for B2B or retail sales. You can collect first-hand data by tracking customer interactions. You can also generate a feedback loop of actionable insights to continually innovate your buyers.
Start Your Online Journey
So now that you have made up your mind as to what industry niche you want to choose, what next? You will need a reliable online platform that helps to soar your online business.
StoreHippo is a modern-day e-commerce platform that helps business owners to create attractive and reliable sites with negligible efforts. It also provides you with end-to-end solutions related to your logistics, hosting, marketing and vendor needs besides many other features. With StoreHippo you can quickly get off the ground, if you’ve successfully created word of mouth or activated your social.
Ready to expand your business with the power of the e-commerce? Contact us today and avail a 14 day free-trial.