During this pandemic situation, are you still hesitant to break into e-commerce because of security concerns, or is it entirely sure if it is helpful for your business? If you are in any retail or struggling when shall take part in this, you shall let the facts and statistics to tell you the answer.
In 2019, Malaysia boasted 16.53 million online shoppers (50% of the population), and 62% of mobile users use their devices to shop online. Malaysia’s eCommerce is expected to double the growth rate to reach a GDP contribution of USD 53 billion by 2020.
There is still a big room for increment for Malaysia. According to J.P Morgan, at present, just under half the population is yet to shop online, meaning there are almost 16 million as-yet untapped e-shoppers. The nation is also young: the average age is 28.7 years, and 44.2% of the population is aged 24 and under, offering a generation of tech-savvy potential customers.
Therefore, no matter you are in which industry, if your business does not have an eCommerce website, you are leaving money on the table!
Are you still NOT convincing by the statistic given? Here is the list of TOP 6 reasons why you need an eCommerce website today.
Low Set Up Fee Compared To Offline Businesses
The eCommerce website is fully automated online. Customers can get all the product/company information, make the payment, booking, and others without involving staff. An eCommerce website can be your 24/7 salesperson without many limitations. It can serve and fulfil customers’ needs faster than an offline business.
- Results are Measurable
With the assist of Google Analytics or other tracking systems, you can discover the customers’ experiences and behaviours. These tools enable you to collect data and keep track of how your customers utilize your eCommerce website. Now, you can collect all the information such as average cart total, sales figures of each product, cart abandonment rate, demographics, and others.
All this data and information are very precious for the use of sales and marketing strategies. They help you to learn and understand more about your customers at minimum cost.
- Increase New Customers
Most shoppers are using a search engine before they decide to buy. Therefore, showing up in search results is very important, and having an eCommerce website is the first step to be able to show up.
SEO (Search Engine Optimization) plays an essential role here. A good SEO set up enable your eCommerce website to rank highly for keywords and phrases related to your products.
- Broaden Your Brand
By having your eCommerce website, you can build relationships and strengthen the bonding with your customers. You can link your eCommerce website with any social media platform such as Facebook, Twitter, Instagram, and others.
With the aids of reviews and ratings on social media can build trust with your customers. You can increase engagement by updating blogs, regular posts about your services, products, and promotions. These could drive more traffic to your website and increase the sales rate.
- More Convenient For Customers
Nowadays, customers are more towards online shopping rather than spending hours searching in physical stores. Online purchase is very convenient for them because it is operating for 24 hours. Customers can shop anytime they want, even at midnight. In addition, the eCommerce website has solved the distance problem, and they can buy anything from anywhere. Now, the question is, do you have an eCommerce website to offer this kind of luxury?
- Establish and Strengthen Your Brand
Many companies will sell their products on marketplaces. However, these platforms have minimal freedom for the sellers to do their customization. From font types, word counts restriction on words, photo usage, and others. The conditions make us nearly impossible to build brand awareness and recognition.
In these kinds of marketplaces, your products/services will be places together with your competitors. Virtually increased the chance of competition, especially in terms of price. Most of the time, customers who purchase your products will only remember the marketplace instead of you.
Brand awareness and recognition are vital for a company, and these should be your priorities. Therefore, you shall have your eCommerce website, so you get full control of everything – for example, the template, your contents, photos, videos, and the flow. You can involve different elements such as blogs, reviews, and others. The possibilities are endless, and all of them are up to you.
Physical stores are essential for displaying your products and serve your neighbourhood. Yet, an eCommerce website can help you explore more possibilities, reaching to more potential customers who might be looking for your type of services or products out there.
Therefore, do not let fear or hesitate to stop you from having an eCommerce website, especially during this pandemic situation where everyone rarely walks on the street.
If you are very new to this piece and need help, look for expertise. Help you to understand more about how you can own an eCommerce website easily by today. Then, let it increase your revenue with minimal effort compared to your offline business model.