The last year has been particularly stressful for small business owners. With the Coronavirus Pandemic bringing business to a standstill, many of them have struggled to sustain their businesses, pay their employees, or make any sales.
While things are now looking up once again, the challenges in front of small businesses are quite daunting. Rising debts, consumers moving to online stores, and COVID-19 dangers persisting, many of them are strongly reconsidering trying again.
Experts suggest that rather than abandoning the business altogether, maybe it’s time to take it to an entirely different level!
Ecommerce Business is the new buzzword in industry circles. Trillions of dollars are being spent on online platforms and the world’s richest man in the world is running an Ecommerce store!
In this article, we look at the top seven reasons small businesses need to start an Ecommerce website.
List of Top 7 Reasons Small Businesses Need to Start an Ecommerce Website
Reason 1: An Ecommerce Website is a Store that is Open 24×7
Unlike a normal physical brick-and-mortar store, an Ecommerce store is always open. Even when you are not there, customers can visit it, check out the products, see reviews, read descriptions and place their order. This means that even when you are sleeping your Ecommerce store is out there making money for you without any limitations.
Reason 2: Most of your Target Audiences are Online
Small business owners need to understand the fact that the pandemic has changed consumer purchase behavior. They are looking for information online, which includes buying products and services. This is why it is important to have an online presence. The pandemic also resulted in people being less open to visiting crowded public places anymore.
Reason 3: Cost-Effective and a Fraction of the Investments
Remember how much you needed as a capital investment when starting your business? If you are looking to start an Ecommerce business, you need probably 1/100th of the same cost. You don’t need ten employees or pay astronomical levels or rent. All you need to do is make a small one-time investment and work strategically to ensure sales and profits from your platform.
Reason 4: A Business Model for the Future
A successful businessman is one that always aims to make his business future-proof. Take up any study or research on Ecommerce and they will all point towards the same things. Trillion-dollar sales, double-digit growth margins, and a booming market. All over the world. Ecommerce is registering what is its best period ever. It is a future-proof business model.
Reason 5: Does not have the Limitations of a Physical Store
We have already mentioned how an Ecommerce store operates even while you are sleeping. In addition to this, you do not need to do a lot to get it up and running. In terms of employees or overhead costs, what you are looking at is a bare minimum. All this makes starting an Ecommerce platform a lot of business sense.
Reason 6: Worldwide Target Audience
A physical store has a predominantly local clientele. An Ecommerce store’s target audience can be the entire world! If done right, an Ecommerce platform can generate sales from everywhere from the US to Australia. All you need is the right brand awareness, marketing strategy, and a stellar quality product to lead the way. In other words, the world is your oyster.
Reason 7: Lesser Risks as Compared to a Physical Store
Think about no physical thefts, zero shoplifting cases, or employees stealing stuff! An Ecommerce platform does not suffer from any of the risks that a physical store does from. This includes catching fire and burning the entire place down to dust. Yes, there are cybersecurity risks. However, if you have the right software in place you do not have to worry about the same.
The Bottom Line
For a small business owner, understanding how the entire ecosystem works can be a bit challenging. However, if you are open to new things and want to carve out your path of success, you need to seriously consider starting an Ecommerce website at the earliest. Not only will it help you resurrect your business, but will also be able to effectively demonstrate how digital is changing the way business used to be done.