{"id":484,"date":"2015-09-04T11:14:44","date_gmt":"2015-09-04T03:14:44","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.webimp.com.sg\/?p=484"},"modified":"2020-11-19T12:48:09","modified_gmt":"2020-11-19T04:48:09","slug":"why-e-commerce-website-is-the-future","status":"publish","type":"post","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.webimp.com.sg\/e-commerce\/why-e-commerce-website-is-the-future\/","title":{"rendered":"Why E-Commerce Website is The Future"},"content":{"rendered":"\n
\"\"<\/a><\/figure><\/div>\n\n\n\n

Suggested read: Top 10 Ecommerce Trends for 2021<\/a> you must pay attention to.<\/strong><\/p>\n\n\n\n

The Future of Retailing \u2013 the Bricks-and-Clicks model of E-Commerce Website<\/a><\/p>\n\n\n\n

Consumer expectations are rapidly changing, and to remain relevant, retailers need to change too. In the past decade, e-commerce has experienced astonishing growth rates and will continue to be promising for the years to come.<\/p>\n\n\n\n

Reports show that the global e-commerce is expected to reach 1.4 trillion by 2014<\/a>, growing at a fast rate of 14% from 2012 to 2016. <\/p>\n\n\n\n

Several key trends driving this growth are: the growth of internet access, consumers feeling more comfortable purchasing online, rise in demand for global products, increasingly flexible international shipping.<\/p>\n\n\n\n

Despite the rise of e-commerce start-ups in the past decade, many industry experts say that majority of the sales are still taking place offline.<\/p>\n\n\n\n

The future of retail is to adopt the Brick-and-Clicks model, which is to integrate e-commerce with Brick-and-Mortar store to create an Omni-channel retail experience.<\/p>\n\n\n\n

Hence, the key to success lies in how well each platform can complement each other, creating a unique proposition to shoppers. <\/p>\n\n\n\n

Many major E-giants have already hopped on the Brick-and-Clicks bandwagon, including Google, Zalora and Taobao etc.<\/p>\n\n\n\n

Let us now look at how e-commerce can complement the Brick-and-Mortar stores and vice versa.<\/p>\n\n\n\n

Drive more traffic<\/h2>\n\n\n\n

Some feared that setting up an e-commerce website would cannibalise sales from physical stores. <\/p>\n\n\n\n

However, more often than not, an e-commerce website would help to reach out to others who are not yet your customers, especially international customers from around the world.<\/p>\n\n\n\n

Likewise, a physical store would be able to draw customer who chanced upon their store while passing by to shop online.<\/p>\n\n\n\n

A physical and online presence would put a retailer in a good position as it could take advantage of the synergy of having a Click-and-Mortar model to enhance shopping experience and increase brand loyalty.<\/p>\n\n\n\n

Low-cost expansion<\/h2>\n\n\n\n

Setting up an e-commerce website<\/a> is much cheaper and cost-effective compared to the premium prices for high-traffic retail sites, without even adding in the ever increasing labour costs.<\/p>\n\n\n\n

Even after factoring in site design, maintenance, 24\/7 technical support and other operating costs, it will still be significantly lower than the storefront leasing expenses.<\/p>\n\n\n\n

Cost savings from lower inventory level<\/h2>\n\n\n\n

Unlike your traditional brick-and-mortar store that has to be fully stocked to better serve its customers, an e-commerce website can sell items which are not even readily in-stock.<\/p>\n\n\n\n

This eliminates the need to support additional manpower to constantly stock the shelf to create attractive presentations.<\/p>\n\n\n\n

Special orders can be placed upon customer\u2019s order and this can help to save on storage and inventory costs. Moreover, stocks can be stored in a low-cost warehouse as compared to a premium priced retail shelf.<\/p>\n\n\n\n

More product choices for customers<\/h2>\n\n\n\n

Most retailers understand the fact that the ability to offer customers more product choices will lead to a better shopping experience and in turn better sales results.<\/p>\n\n\n\n

However, limited by shop size and space, brick-and-mortars stores are often restricted in the number of products they can carry and offer.<\/p>\n\n\n\n

The most cost effective way is to display the main products with a couple of more popular colours and leave the rest of the colours to be available online for ordering.<\/p>\n\n\n\n

On the other hand, Striking a balance is the obvious solution and a rule of thumb would be to remove older products when you introduce new ones to prevent your product variety from hitting the sky.<\/p>\n\n\n\n

Increased brand loyalty<\/h2>\n\n\n\n

A report published by Deloitte in 2014 shows that customers these days fancy mulit-channel shopping. <\/p>\n\n\n\n

With a touch of their mobile devices, customers can do research on the product they are intending to purchase and compare prices almost instantly.<\/p>\n\n\n\n

They like to feel that they are in control of the information and product knowledge and are able to exercise better purchasing decisions.<\/p>\n\n\n\n

Hence, an Omni-channel shopping experience<\/a> not only help to enhance customer satisfaction but also increases sales as customers who engage in Omni-channel shopping tends to purchase more frequently and spend more.<\/p>\n\n\n\n

Brick-and-mortar retailers fear the store they invested with high labour and rental costs becomes a showroom for E-commerce retailers.<\/p>\n\n\n\n

On the other hand, e-commerce website retailers understand the one big advantage that brick-and-mortars retailers have over them: providing the customer with the feel and touch experience.<\/p>\n\n\n\n

Zalora did well to enjoy the best of both worlds by bringing its e-commerce website to life by opening pop-up stores, aiming to create a seamless shopping experience<\/a> through multiple touch points in a stylized and modern retail environment.<\/p>\n\n\n\n

Offering convenience to customers<\/h2>\n\n\n\n

Do you prefer to hit up the shopping malls, fighting for scarce parking lots and braving through the crowded?<\/p>\n\n\n\n

Or would you prefer to shop anytime 24 hours a day from the comfort of your own home? More and more people are shopping and spending on digital platforms, giving brick-and-mortar retailers a miss.<\/p>\n\n\n\n

Hence, it is very important to note that customers who shop online are often people who value convenience a lot more than your average customers.<\/p>\n\n\n\n

Keeping in mind that all your online customers have limited time would be a key consideration when designing and developing your e-commerce website.<\/p>\n\n\n\n

Make sure you accept credit cards and other common forms of payment. Also, make your check-out process as easy as possible to reduce shopping cart dropout rates.<\/p>\n\n\n\n

Products should be searchable by keywords to ensure easy site navigation<\/a>.<\/p>\n\n\n\n

These will provide the customer with a smooth and pleasant shopping experience which will encourage repeat purchase.<\/p>\n\n\n\n

Click here<\/a> to find out more about website user experience (UX).<\/p>\n\n\n\n

Cost-effective and focused marketing<\/h2>\n\n\n\n

Having an e-commerce website sales platform will effectively help you take full advantage of low-cost online marketing which includes email marketing and social media marketing.<\/p>\n\n\n\n

Think about it, would it be easier to send an email to your customers and encourage them to go to your physical store or click a button and go to your e-commerce website to make a purchase?<\/p>\n\n\n\n

Therefore, online marketing methods have been proven much more effective if coupled with an e-commerce platform.<\/p>\n\n\n\n

Furthermore, emails and offers can be customized to an individual customer, meaning it would be more relevant to them and increases the chances of them opening it and click through.<\/p>\n\n\n\n

Conclusion<\/h2>\n\n\n\n

In order for traditional brick-and-mortar retailers to survive, they have to fully make use of the advantage they have over e-commerce website players by turning the physical store from a liability into an asset.<\/p>\n\n\n\n

E-commerce website holds the promise and challenge of affecting every aspect of the business, from sales to warehouse space and other business operations.<\/p>\n\n\n\n

If harness correctly, it can become a perfect complement to the physical store and vice versa to serve new markets and new customers.<\/p>\n\n\n\n

Want to know more how a good e-commerce web is made up of? Watch our free video here<\/a>.<\/p>\n\n\n\n

\"\"<\/a><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"

Suggested read: Top 10 Ecommerce Trends for 2021 you must pay attention to. The Future…<\/p>\n","protected":false},"author":6,"featured_media":485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-e-commerce"],"acf":[],"yoast_head":"\nWhy E-Commerce Website is The Future - Web Imp<\/title>\n<meta name=\"description\" content=\"Having an E-commerce Website is not enough, knowing how it will send your sales skyrocketing is key. 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