The shopping behavior of consumers has changed a lot in the past few years, especially in 2020 due to covid. Convenience for today’s consumers is defined by the ability to explore a wide selection of products via mobile devices, apps, in-store, or desktop computers; access consumer-generated content (CGC); and, lastly, select the best delivery choices.
People now expect to access content with no physical or temporal limitations. Online stores are being used by more consumers than ever before to make fashion purchases. According to statistics, e-commerce is becoming a crucial tool for fashion retailers. In 2018, the sector earned $481 billion in global revenue. That figure increased to $545 billion in 2019 and is expected to grow to $713 billion by 2022.
Thus, it is inevitable that to prepare for the new normal and succeed at it, fashion retailers need to take their business online and develop an e-commerce store to serve their customers.
Reasons why fashion retailers should start an e-commerce store
The major advantage of e-commerce stores is the consumer’s convenience. A majority of people have busy lives, and when they need to buy anything, they generally opt to do it online rather than at a retail shop. They save time, effort, and even money by shopping online.
Simply said, it is far more convenient for people to shop from the comfort of their homes than in a store. That’s probably the biggest reason behind the success of sites like Amazon and Myntra. Thus, to provide people the convenience they need, you should consider taking your fashion business online.
Having an online store provides businesses with more channels for engaging with buyers. It brings you where your customers are present – on the web. Integrate your business with social media and allow people to shop directly from their feed, assist consumers in finding you in Google searches, and make transactions as soon as they are ready. You can also send out newsletters to customers with goods that they require based on their purchase history.
A physical shop can only sell to people who live nearby in your area. Whereas, an e-commerce website allows you to reach individuals all across the country or the world, thereby extending your client base and revenue potential. Moreover, the target market is only going to expand because as developing countries grow, more consumers will acquire access to the Internet.
Selling online also provides the opportunity to widen or increase inventory – the amount of goods a firm may sell online is not restricted in the same way as a physical store, which may be a factor to boost cash flow.
Because of the fact that consumers like to shop online as compared to going to physical stores, businesses are bound to earn more revenue by selling through their e-commerce store. Apart from generating more profit, online retail also helps in cutting down a lot of costs.
Fashion retailers can set up an online store at very low costs, and save so much so that 70% of physical store expenses can be eliminated. Businesses can save up on store costs, monthly maintenance expenses, and up to 20% on labor costs.
If your company offers a large selection of products and services, it will be much easier to include them all on your website. It’s also feasible to do offline, but there won’t be enough physical room for all of the items you’re providing after a while. On the web, the sky’s the limit.
Website visitors can also check out numerous products at their own convenience, which is not possible in a conventional store. You will also be able to divide your products into different categories, making it easier for people to find items of their choice.
Finally, we must not overlook the fact that an internet business may operate 24 hours a day, seven days a week. Visitors will be able to explore and purchase from you while you are asleep.
An online store would allow people to access your website and shop while they’re having their breakfast, traveling to work, during their lunch break, or before they hit their bed. You couldn’t accomplish the same thing with a typical physical store, which wouldn’t draw customers late at night.
All in all, there are many reasons why fashion businesses should work on building an e-commerce store. Developing an online store can provide you with more omnichannel marketing options, offering more methods to advertise your business across different channels and giving customers more ways and choices to discover your products and buy from you.
Ready to take the next big step towards establishing your eCommerce business? Sankhala Info Solutions is here for you! Contact us to get all services related to e-commerce website development and start building your online fashion store today.