According to my research, the pros of owning an online store added up.
In the next ten years, the competition among retail stores will be fierce, with many closing down. Generic retail stores (particularly small businesses) are especially vulnerable to sales slump.
By operating online and not having to keep up a physical storefront, you can keep your operation costs much lower than your competitor’s (particularly if they’re still operating on the old business model, with a fancy storefront). If you pass along some of this savings to your customers (so they can get products from your online store cheaper than if they would shop at the competition’s), then– bingo! — you have a successful business model.
And online shopping is hotter than ever!
Most retail stores are currently experiencing an erosion in sales, as online shopping takes over a larger chunk of the business.
The overhead costs of a retail store can be crippling in the current retail environment. This means that ecommerce online store can be the ticket to the sales growth many are itching for.
Having the best ecommerce solution available may be all that keeps many stores in business during this time of shrinking stores.