Online retail has boomed in recent years thanks to the many benefits it offers the general public.
In fact, in 2017, e-commerce accounted for 15% of the British economy.
So what is the key to its success?
And how can your business take advantage of this prosperous opportunity?
Why is E-commerce So Popular?
It is no secret that online retail is now a dominant force with brands such as Amazon and John Lewis leading the way.
The shopping experience that these websites offer is extremely convenient meaning the public has taken to purchasing online like a duck to water.
Purchasing your desired products can now be done from the comfort of your own living room with a glass of wine in hand.
There are also savings to be made as products are often cheaper online than in high-street shop
What Are The Advantages of E-commerce to Retailers?
There are wide array of advantages to retailers considering e-commerce although for the purpose of this brief guide we will focus on the two most important advantages…
Firstly, e-commerce offers a potentially global audience for a retailer. The ability to reach a target audience in their own home should not be underestimated.
Secondly, the cost of running an e-commerce business is very low when compared with running a physical store. There is no rent to pay on expensive premises, business processes are simplified and less man-hours are required to run it smoothly.
How to Start Your E-commerce Venture
There are now many options available to retailers looking to set up an e-commerce store.
The first option is to use an “off-the-shelf” e-commerce package such as WooCommerce, Shopify or Magento. These open-source packages offer a very reasonably priced way to set up an e-commerce store and include all the standard e-commerce features that the public has come to expect such as secure checkout with PayPal, search function, featured products, discount codes, customer login and many more besides.
If your needs are a little more bespoke, then it may be worth looking into having a bespoke system developed. Whilst this will almost certainly cost more, it does offer a higher level of control over the features and functionality of the website.
Either way, it is important to do your research. What features do you require? What are the initial setup costs? What are the on-going costs? How will you promote your e-commerce business.
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