We’re now living in the digital age where we have become more dependent on technology.
One good example of this is in the commercial sector. What people want today is convenience above anything else, which is why the number of online shops is on the rise.
And yes, there might still be brick and mortar stores out there, but based on the latest studies, more people prefer to buy online instead of driving all the way to the store and purchasing a product.
So, what’s up with this revolution? And should all brick-and-mortar businesses go full eCommerce?
This article aims to answer that question by weighing the pros and cons of running a full-blown eCommerce business.
Advantages
No need for a physical store.
One of the best things about eCommerce shops is that you don’t need to have a physical store or location. This means that you can save on expenses for the rent, construction of the store or building, as well as the furniture, machines, and equipment you need to operate the business. Though you might need some GSE for smooth operation of your business that you can get fromm gse for sale.
Although you have to pay a monthly hosting fee for your website, that isn’t still that much if you compare it to the expenses physical stores have.
Easier inventory management.
Another nice thing about eCommerce businesses is that they can have low inventories without having to worry about going out-of-stock.
You also don’t have to maintain a huge inventory and risk not selling them because you can order from your supplier easily and receive it in the soonest possible time, sometimes, around just one to two days, or just a few hours.
Almost everything is automated.
Automation means that you don’t need to have a lot of staff to work in the business. Almost every process is automated because you’ll be using a specially designed platform or system to track goods, inventories, and orders through your devices, such as a laptop or smartphone. Everything from single touch payroll software to business management software is there to help you manage your business, so it has never been a better time to start one!
Tap onto a bigger market.
The nice thing about eCommerce is that your reach isn’t just confined to a specific local location, but throughout the whole world instead. Of course, with the help of the internet. This means that you’ve got a bigger reach and market, thus higher potential earnings and sales.
Open 24/7.
Brick and mortar shops have store hours around 9 AM to 5 PM, right? Well, there’s no such thing as store hours for eCommerce businesses as these operate round-the-clock. Your store is always open for your customer’s new orders, no matter what the time is.
Smoother logistics tracking.
You can track your logistics in an easier way because these can be accessed through a software, app, or platform. This way, you can easily sell and maintain a clear mind in knowing that your orders will be successfully received by your client.
Disadvantages
Inability to see the product before purchase.
This is one of the major drawbacks to eCommerce shops because customers cannot see beforehand the actual product. And it’s not just seeing, but feeling, touching, and smelling it.
These are important because these are some of the factors and criteria potential buyers need to experience for them to decide on buying something.
Dependent on technology.
What happens when technical issues arise? A downed server, internet issues, programming errors, or logistic glitches?
Well, that’s surely a problem because your business is fully dependent on technology. Buyers also need to make transactions through the internet, which means that they need to use a smartphone, tablet, or computer.
Very fierce competition.
You might have a bigger market and reach, but this also means that you’re literally competing with the whole world. This makes it harder for you to stand out, knowing that customers and clients have unlimited options out there.
So, should a business go full eCommerce?
The best thing to do if you already have a brick-and-mortar business is to just expand and not entirely ditch out your physical store. You have the best of both worlds if this is the case. Expanding also means that you’re keeping up with the trend, in this case, eCommerce.
But if you’re still starting out, then it’s best that you start with an online shop first. Build up your brand, and when you’re already established, then that’s the time when you’re going to decide to expand to a physical store, or just continue expanding your online presence.
It’s really just up to you on how you’re going to approach this as we all have our own preferences. Just weigh things out and assess your situation, when you do, then you’ll surely have a great time with your business, whether it be physical or online.