If you’re thinking of starting your own business and selling your products, there’s one big decision you need to make: e-commerce or a traditional brick-and-mortar store.
There’s a lot to be said for both of these options when it comes to retail, and it’s important that you understand how they differ in terms of a few different factors. In this article, we’ll take a look at some of the key components of what it takes to sell your products successfully and help you determine which route will work best for you and your business.
Accessibility and Convenience
First of all, you want your products to be easily accessible to your customers. When it comes to eCommerce, you’ll be able to reach a wider demographic due to being accessible to a much larger geographical range. So long as you’re working with a reliable delivery company like https://www.couriersatlanta.com, you can ship your products anywhere you need to.
That being said, online shopping might not be accessible to certain groups, which might make a brick-and-mortar store the better option, depending on your target audience. The instant gratification of instant purchases can be a wonderful pull factor in modern society, though!
Cost and Overheads
If you’re looking to open a physical store, you’ll need to make sure you have certain expenses in your budget, such as rent, utilities, etc. This will impact your pricing strategy and potentially bog down your profit margins.
In this department, eCommerce is the clear winner. You’ll save on rent, staff requirements, inventory management, in-store design, aesthetics and marketing, and other expenses. This can help simplify your operations and allow you to offer your products at a lower cost to help you boost sales.
Customer Experience
When it comes to customer experience, a tangible shopping experience often cannot be beaten. Especially if you’re selling products like clothing or consumables, customers may like to be able to physically experience the products before they buy them. Further, creating an ambience in your store can help contribute to your brand identity!
On the other hand, the simplicity, ease, and accessibility of online shopping is alluring to certain types of customers. If your eCommerce site is well-designed, user-friendly, and clear to understand, this might make up for the limited sensory experience.
Marketing and Reach
Finally, you’ll need to think about what methods you’ll be using to attract your potential customers to your business. When you have an eCommerce store, digital marketing is the obvious choice, and this offers you a wide yet very targeted reach. You’ll be able to use analytics to see your data and make sure your marketing efforts are going to the right people.
If you have a brick-and-mortar store, you can still take advantage of digital marketing tactics – and you should! However, to generate foot traffic, you might need to lean into some more traditional advertising forms as well. Think flyers and posters that direct passersby to your business, as well as an eye-catching storefront to lure them in!
