Module One

Why Setting Up an Online Store is Important?

As we discussed in the previous chapter, shopping is not just an activity but an experience for people. To make this experience worth cherishing, e-commerce stores ensure delivering the best shopping experience to every individual through an online store.

 

Today, when someone is talking about shopping, they are not always thinking about visiting a mall or a supermarket for that. How did this change come? Moreover, why did this change come? What led to e-commerce becoming such a massive thing? 

 

As someone who is looking forward to establishing their own e-commerce business, knowing these aspects is important. Today, setting up online shopping is not an option but somewhere a necessity.

 

But why should you move online? What the traditional retail method of shopping is not enough? These questions might be coming to your head, isn’t it? Well, in this chapter we are going to talk about it in detail. By the end of this chapter, you will be able to:

 

• Find how online shopping is different from traditional retail
• Know the reasons why e-commerce is getting popular
• Understand why you need to set up an online store
• Learn the advantages of shopping online for people 

 

Let us start our discussion and find out why setting up an online shopping store should be the next step that you should follow to take your business to the next level. 

 

1. How Online Shopping is Different from Traditional Retail?

Understanding the difference between online shopping and traditional retail will help us get an idea of how things evolved. Let’s imagine two different scenarios when you are shopping for clothes, to get a better idea of it. 

 

Scenario 1: In the first scenario, you go out shopping at a mall. After visiting your favorite stores, you choose the clothes that you like the most. Not only that, you also tried different clothes to ensure a perfect fit. Now, if there is any issue with the purchase, you would have to go back to the store to return the order. 

 

Scenario 2: In this scenario, you chose to shop online through your favorite e-commerce store. You selected different clothes of your choice and size, added them to your cart, and purchased them. After receiving your order in 1-2 days, you tried them. Now, if the clothes fit you perfectly, it is good. However, if there is any issue with the order, you can replace them and the order will be picked up from your home. 

 

Now, did you see the difference? In simple terms, traditional retail involves physical stores, that are set up in selected parts and are open for only a particular number of hours. On the other hand, online stores give access to the customer to visit 24/7, amazing offers almost throughout the year, and an exceptionally comfortable shopping experience. 

 

2. Why Is E-Commerce Getting Popular? 

Today, technology has reached almost every corner of the world. Just sit back and ask yourself one question. How many of your friends are such who have not ordered online even once in their lives? Hardly any, right? 

 

E-commerce has become so popular that it is reaching every part of the world. Be it any industry, it has its presence there. For anything to grow with this exponential curve, several factors play a role. The same is true with e-commerce. The following are the reasons why e-commerce has become so popular:

 

• Growth of Technology – In recent years, technology has grown exponentially. Yes! We all know the fact that there is a direct correlation between the growth of technology and e-commerce. Almost, every person today has a mobile phone. Hence, e-commerce businesses have this amazing opportunity for growth. 

 

• Personalized Experiences – Do you remember how Starbucks writes your name on the cup for every coffee you order? No matter how small the effort is, we all love personalized gestures. Today, with the use of technology such as machine learning, e-commerce websites provide personalized suggestions to customers. This saves a lot of time for people. 

 

• Busy Lifestyles – Today, considering how busy our lifestyles are, taking time to go to a shopping mall or vegetable purchasing seems so boring. When a person can relax and spend time with their family and friends, why would they be spending it doing household chores? Thus, e-commerce stores provide you with this opportunity. 

 

• Growth of Social Media – The world is becoming smaller and smaller. Moreover, trends on social media are becoming more popular each day. Hence, e-commerce allows purchasing products that help you follow the trend easily. Moreover, it is even possible that you might not get the same product in the nearby store but you get it online. 

 

Do you observe something? Convenience, comfort, choices, and quality; four are the primary reasons for the growth of e-commerce. So, is it worth it for you to set up an e-commerce store for your business?

 

3. How Does Setting Up an E-Commerce Store Benefit Your Business?

 

In the previous section, we found out the possible reasons why e-commerce is becoming popular. Now, the following points will help you understand why setting up an e-commerce store benefits your business:

 

• An e-commerce store has the potential to take your business to a global scale. Locally, you might be doing good, however, through an online store, you can tap into the unlimited potential and possibilities. Target a global audience and enhance sales. 
• There is no regulation that you will have to deal with as what you face with a physical store. Your online store ensures a 24/7 sale for you, without you being directly involved in the process. 
• An e-commerce store is highly cost-effective and there is no need for you to spend a lot of money in maintaining it. 
• These stores are highly convenient for customers. 
• You can also get valuable data insights that can help you understand the preferences and behavior of your customers. Hence, create a tailored campaign for them and make them a part of your permanent shopping family. 
• You have an edge over your competitors, especially in reaching a large audience, creating a brand, and even in terms of sales. 

 

Read More: https://zopoxo.com/why-does-your-business-need-an-e-commerce-store-now/ 

 

4. How Do People Benefit Through Online Stores? 

As someone studying e-commerce or wanting to open an e-commerce store, understanding how your services affect the masses is important. E-commerce stores provide an unparalleled advantage to customers. How? Well, the following points are going to help you understand this:

 

• The first instance of how people benefit from online stores is the convenience they offer. An individual, after a hectic day at work, can do all the required shopping from the comfort of his home and can also spend time with his family. 
• There is a wide range of products and brands available online at a single store that the person can explore, ultimately finding the one that suits him. Don’t you think it is far more efficient than searching through numerous offline stores and still not finding the product of their choice? 
• E-Commerce stores usually provide amazing sales throughout the year. Hence, the person receives wonderful offers on his favorite products. 
• Furthermore, the easier refund/return process online stores provide is unmatched when compared to an offline store. You have to return the product yourself to the offline store, whereas the delivery partner is going to take the product from you at your doorstep if you are unsatisfied with it. 
• How can we not talk about the personal reviews of people with the product? We all know how difficult it becomes sometimes to make our decision when we see a massive range of products ahead of us. Thanks to online reviews. We can easily choose the product that suits us as per people’s reviews. 

 

Hence, these are some of the advantages people get when it comes to shopping at an e-commerce store. 

 

5. The Future That Lies Ahead

When it comes to online shopping and the growing popularity of e-commerce stores, you should know that it will continue to rise. As we saw in the chapter, how an e-commerce store be of real advantage to people in terms of so many aspects. Be it convenience, comfort, product choices available, or even cost-effectiveness.

Today, with the advent of technology, more and more people are going to cling to online stores. With the technological advancement today, virtual reality, machine learning, and other such technologies are also getting involved in the overall development of e-commerce stores, making the overall user experience much more seamless and amazing for people. Without a doubt, e-commerce is going to rise, are you ready to harness the power and make full use of this opportunity? 

 

 

Image Source: Unsplash.

Key Takeaways From This Chapter

• Traditional retail involves physical stores with limited hours, while online stores are accessible 24/7 with great offers and convenience.
• E-commerce’s popularity is driven by convenience, comfort, choices, and quality.
• An e-commerce store can expand your business globally, targeting a wider audience and increasing sales.
• Online shopping offers consumers convenience, a wide range of products, and easy return processes.
• The future of e-commerce includes advancements like virtual reality and machine learning, enhancing user experience.