How Offline Retailers Can Build a Thriving Ecommerce Business Online
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.
Your customers are online, and so should your business
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.
