E-commerce has been one of the most consistently growing industries in India. According to a PwC report, the Indian e-commerce market will surpass $100 billion by 2022.
The rising smartphone penetration, availability of cheap internet services, and the increasing acceptance of all things digital are some of the top reasons that have created an environment that complements the e-commerce boom in the country.
While consumers are not entirely abandoning brick-and-mortar stores, online shopping is turning into a preferred choice, especially among young netizens. Sooner or later, businesses will have to adopt the hybrid offline and online model to remain competitive and comply with customer expectations.
If you are still thinking about whether or not your startup, small business, or famous brand should start selling online, here are 5 reasons that suggest you definitely should-
1. Your Customers are Online
The pandemic has had a significant impact on how Indian consumers shop. With most offline stores shut for several months due to the lockdown, online became the go-to shopping destination. According to a Shopify report available on Business Insider, 86% of Indians have adopted online shopping during the COVID-19 pandemic.
While physical retail is expected to regain a decent portion of customers once the lockdown is over, most would continue to prefer shopping online. If you are not selling your products or services online, you’ll end up losing a lot of business.
2. Boost Offline Sales
Selling online can also help you improve your offline sales. According to a report by RAI and LitmusWorld, 75% of the consumers shopped online during the festive season in 2020. But 66% of them also agreed to shop from standalone stores, and 37% agreed to shop from malls. While digital has turned into the primary mode of discovery, many consumers still prefer offline purchases.
By optimizing your online store and working on your digital marketing strategy, you can get closer to the potential customers during the discovery phase. No matter if they want to purchase online or offline, with an online store, you can ensure that you are present where your target customers are.
3. Make Your Business More Accessible
Unlike the internet that is available 24×7, your offline store only works for fixed hours during a day. Moreover, customers need to travel to your location to shop from your store. You can eliminate this time and geographical limitation by selling online.
No matter if it is day or night or whether a customer lives close to your store or in any other city or state in the country, they can access your online store and purchase your products.
Not only this, but with an online store, you can also sell your products to people across the world. While most online stores in India do not commonly prefer international shipping, the internet does offer this possibility as well.
4. Embrace New Ways to Market Your Business/Products
Your online store can also be a very powerful marketing tool. You can use digital marketing and other strategies like SEO (Search Engine Optimization), social media marketing, email marketing, and more to rank higher on search engines and reach more potential customers.
The digital strategies pave the path for innovative ways to engage with consumers. This level of innovation is mostly missing with conventional offline strategies.
5. Reduced Costs
Offline stores also come with a lot of operational expenses, like rent, staff salaries, and more. If you want to expand your business by maybe opening another store or expanding your existing store, it’d mean a significant investment and higher fixed operational expenses as you’ll need more space and staff.
By switching this physical expansion with the internet, you can significantly reduce these expenses. The savings can be invested to market your online store to reach more consumers.
Time to Get Online is Now
While many businesses want to start selling online, it is often a decision that they prefer to take some time in the future. But with the Indian e-commerce industry all set to achieve newer heights and hundreds of businesses going online, a delay will only make things more challenging and competitive for your business. If you want to expand your business and remain competitive, now is the right time to begin your digital journey. Partnering with a reputable digital marketing company can provide you with a headstart in this endeavour.
