Thanks to the growing popularity of smartphones and tablets, online shopping on mobile devices has become an increasingly popular phenomenon in recent years. According to Statista, the revenue generated in the e-commerce sector in Canada is expected to exceed US$90 billion in 2025, almost double the revenue recorded in 2021.
One of the reasons for this upward trend is that consumers can buy anything they want, regardless of their location or time of day. The drastic change in fashions and trends have a huge impact on the decision-making process of consumers. With the development of numerous applications in the fastfashion industry, shopping online with just a few clicks has become more accessible than ever. The rapid production of new collections, as well as lower and lower prices, amplify the buying decision. Moreover, customers don't need to go to the store anymore because of the almost instantaneous deliveries, and they can generally return their package without any fees. Obviously, this is beneficial for consumers, but is it also the case for businesses?
What are the advantages for a company to sell online
There are many benefits for consumers, but what about for businesses? Let's see how organizations benefit from selling online.
1. An increase in sales
Selling online allows organizations to expand their overall reach and reach consumers who would not be accessible physically. This can lead to increased sales and revenue growth.
2. Better understanding of consumers
The data collected from online purchases allows organizations to better understand their preferences, needs and behaviors. This can help companies adjust their marketing strategy and target their audience more effectively.
3. Cost reduction
Online sales can help organizations reduce costs related to physical stores, such as rent, events and employee salaries. In addition, it can allow companies to devote more resources to online and other strategies that can bring them greater returns.
4. An improved customer experience
Companies can use a wide range of technologies and even artificial intelligence to improve the online user experience. For example, they can use recommendation systems to suggest relevant products to consumers based on their preferences, tastes and needs. Features such as search filters could also make it easier for them to search online, by ranking product prices in ascending order.
To learn more about the benefits of artificial intelligence for an e-commerce business, read our article Hyper-personalization of eCommerce with artificial intelligence.
5. Better flexibility
Companies can sell their products or services 24/7 without interruption. Consumers will be able to shop online outside of regular business hours and do so autonomously without having to travel or contact a customer service person directly.
Selling online, an interesting opportunity for SMEs
All in all, selling online is profitable for both consumers and organizations. Indeed, thanks to increasingly sophisticated mobile devices, the efficiency of websites and the speed of delivery, consumers are able to store and make a purchase from the comfort of their home, regardless of their location on the planet. Organizations can also benefit from the increased desire of consumers to shop online. This trend allows businesses to increase their reach to new customers, collect data on buying behavior to improve the customer experience, reduce costs and sell online outside of regular business hours.
Want to transform your storefront website into a transactional platform and take advantage of the benefits that come with it? Talk to one of our digital transformation experts by clicking here.