E-COMMERCE: It's all about maximizing your reach
Ecommerce is a huge part of the economy and is vital to businesses that sell their products or services online. Ecommerce gives businesses the ability to reach more customers than traditional retail reaches. With so many people making their purchases online, It is the fastest-growing retail market. Statistics show that 96% of Americans with access to the internet have made a purchase online. Ecommerce offers consumers a more convenient way to shop for the products or services they need without having to visit a retailer's physical location to make a purchase.
START LOCAL, SCALE GLOBAL
With a physical shop or office you are often geographically limited to nearby markets, so if you have a New York City shop and want to sell in Los Angeles, you’ll need to open another physical location. This restriction does not extend to your online shop. You can market your digital e-commerce business to anyone and everyone, anywhere in the world! This obviously increases the potential customer base greatly and at no real extra cost after your eCommerce business has been put live. Furthermore, even your local customers are likely to shop more online, even if they don’t convert as often.
ALWAYS OPEN FOR BUSINESS
In general, traditional companies have restricted hours, but an online e-commerce shop can be open 24 hours a day, 7 days a week, 365 days a year. This is highly customer friendly as people can choose when they shop. While merchants can see revenue rolling in while they are sleeping. From looking at statistical data, online customers make purchases around 8pm. Many offices and physical shops are closed around this time, missing peak purchasing hours.
ANALYTICS ON DECK
An E-commerce store can provide you a lot of insight into customer behaviour and shopping habits. Tools, such as Hotjar’s heatmap and Google Analytics pairs with Google Tag Manager can provide amazing detail in your shoppers browsing path. This can give you further information into what customers are interested in and at which stages of a marketing funnel they get stuck! Finding out these patterns in physical stores relies on customer surveys and questioning which is a time consuming and costly task.