How Offline Retailers Can Build a Thriving Ecommerce Business Online

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The retail landscape is changing rapidly each day and adaptability is key to survive this constant evolution. Retailers must know where their customers are spending to sustain business profitability. The emerging retail trend shows that consumers are spending more online than offline. Thus, it makes perfect sense to reach consumers on a digital platform that dominate their preferences than to wait for them to show up at the store magically. Needless to say, digitalization is the best way forward for retailers to supplement their offline business like never before.

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Your customers are online, and so should your business

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An eMarketer report underlines that digital buyers will make nearly 65% of total retail sales by 2020. That validates how consumers are fast-becoming digital savvy and if retailers do not catch up with the trend then they might be on the verge of losing customers and revenue every passing day.

Another report by KPMG report reveals that 65% of consumers compare prices online while in a physical store whereas 49% look online for product reviews.

Consumers’ new-found online preference is not just limited to in-store price comparisons. Shoppers excessively depend on search engines to find a product or service they need in a store near them or do a preliminary online search before visiting a store. A survey by Searchengineland notes that 82% of smartphone users look for stores ‘near me’ before visiting a physical store.

These facts signifies how not going digital can negatively impact offline businesses. Thus, having an online presence is no longer a choice but a necessity to survive in the changing digital world.

Benefits of moving your business online

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Having an online presence does not mean that retailers can overlook their offline marketing efforts. Online marketing can work in-sync with offline marketing strategies with additional benefits packed for retailers.

  • Building a website can launch an offline business on global platform, enabling customers worldwide place orders 24/7 from the comfort of their home.
  • Offline businesses can up their visibility by 61% to mobile shoppers, says a report from Junto.
  • Digital presence can translate into a steady revenue stream alongside offline sales.
  • Offline businesses can grow unfazed despite seasonal changes, economic slowdown or market fluctuations by reaching out to markets with counter cyclical fluctuations.
  • Closer to customers - Operating an e-store gives retailers the opportunity to meaningfully connect with their customers through FAQs, informative videos and content.
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How to successfully open an ecommerce business

Starting an ecommerce store from scratch can be overwhelming for many offline retailers, particularly those who are still warming up to the idea of going digital. Retailers would not know the ins and outs of e-commerce and might not be able to fully leverage on the digital potential. That’s where MML can help retailers launch their digital business successfully and let them watch it grow faster each day.

Setting up a dedicated online shop

It involves several tiny steps like registering a domain name or web hosting service to start a self-hosted storefront. MML helps retailers to prepare for customer onboarding by following every single process to the core so nothing is missed out.

Creating a customized product catalogue

MML closely works with clients to understand their product offerings to help them create a unique and professional looking catalogue while keeping multi-channel approach in mind. So customers have a seamless buying experience both offline and online.

Integrating a secure payment gateway

MML sets up a secured payment gateway to provide ease-of-transaction to customers while taking care of all the logistical and technical hurdles that come in way.

Suggesting the right logistic

Whether to ship directly from your offline store or choose a third-party shipper needs a thorough review and can vary from one retailer to another. MML helps to figure out the right logistic mode and select a partner for stores, based on business model, customer base and future growth potential. Laying down an exchange and return policy is also among the top priorities of MML’s logistic recommendations.

Planning the right marketing strategies

There is no one-single digital marketing strategy to fit every ecommerce store. MML devises a tailor-made comprehensive marketing plan based on retailer’s target audience, budget and line of products and services so that every dollar spent works towards growing the bottom line.

FINAL WORDS

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By going digital, offline retailers can unlock the best of both worlds. Since businesses are gradually picking up the trend, there is plenty of scope to move traffic from offline to online and vice-versa. MML just knows how to make it work for you through its proven experience.

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