More and more people are shopping online. In fact, there is no getting around the fact that people love e-commerce ...
You're probably guilty of it yourself; statistically, around 75% of us have bought something online. A big issue here is that online is growing, and doing so at the expense of traditional retail shopping.The facts don't lie.
In November 2018, online sales exceeded 20% of all retail sales for the first time ever. What's more, the pace of change is greater as online sales grew by 13% year on year. Research shows that around 53% of shoppers prefer to shop online and this preference is more prevalent amongst the under 40s. In other words, the customers of tomorrow pretty much define that you need to be online.
Going online doesn't have to mean moving out of your high street shop, but that could be an option and a way of reducing your costs. But this article isn't about cost-cutting, it's about moving your business forward so that it is still there 2 or 3 years from now.
Key business issues, both for a traditional retailer and for an online retailer, are Customer Service and Stock Control. If your business excels at these two things then you can influence (but not always control) customer deliveries and returns.
What's more, you obviously have to be more in control of warehousing and stock management which will benefit your business. So, what are the practical things you need to do?
A point to bear in mind is that going online isn't a silver bullet or a magic instant fix. It can take time to make a difference, but it could also be the way that you ensure you are still in business in 3 years' time!
If anything I've said here resonates with you and you'd like to find out more, call me on 01234 752 566 or leave a comment below and let's see how I can help you.