It does not matter if you have been operating successfully as an offline store for the scores of years. What is important is to expand your reach beyond the neighbourhood, district and city. That's what makes you a brand, lest you are just one small fish among the many out there. Which business would like that a glutted profit and reach ratio? None.
Analyzing the eCommerce phenomena on a country-wide scale, there are many developed and developing nations that are still not comfortable with conducting their business online. It's a strange affliction to stay away when the benefits to reap are manifold.
According to some crude statistics by the Australian Bureau of Statistics, eCommerce is an ascending trend for the coming decade as well. eCommerce is likely to increase by 13.5% every year until 2015 and related niche profits will amount to $1.4 trillion dollars worldwide.
For the brick and mortar stores, it becomes all the more necessary to capture the heart of the ongoing e-tailing phenomena. Why?
- For one, eCommerce is practical. Consumers today are being offered discounts and freemium services to purchase anything and everything online. We agree that having that small storefront out on the street's corner is important for a quick last minute shopping in times of need but that's about it. Even shopping at malls are beginning to sound tedious. Who wants to walk down or drive all the way to a market when its available online with a home delivery tag as well.
- With the growth of mCommerce, selling online is being drastically altered. Market research shows that consumers are using their mobile handsets more and more to know about brands, products, discounts, offers and buying online. In fact, they look out for physical stores through their phones as well. Google shared its mobile search data by stating that 1 in 3 mobile searches pertain to local information.
The reasons to go online, even if you are a traditional offline store is pretty evident. The processes are complimentary. While online businesses act as a platform for marketing offline commodities that were available earlier only in physical storefronts, on the other hand, offline businesses need this digital embrace to expand their reach beyond the immediate locales.
It's high time, offline businesses transcend from simple retailing to e-tailing. They can sign up on Google Places for Business and other geo-tagging services for a real time branding process to unfold. Begin now if you haven't already...
Check out this amazing infographic by Punch Buggy for related insights:
Do share with us your ideas and opinions about why traditional storefronts need to go online as well. We would love to hear your thoughts.
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