Online commerce recently passed through an era never seen since the dot-com bubble. As the deadly virus forced physical markets to shut down, online shopping demands reached breaking points. Many shopping websites even had hard times handling the surge in demands. Merchants with scalable solutions like a Magento store were better equipped to deal with the chaos. Businesses that entirely depend on the physical transaction were hit the hardest.
Amid all of these, one thing became clearer: eCommerce makes businesses more resilient. Enterprises even with a limited online commerce infrastructure quickly responded to the wave of lockdowns. eCommerce doubters had to pay the price of not embracing technology. A growing number of businesses, small and big alike, are implementing eCommerce in the pandemic’s wake. And that’s a good thing to do.
Why You Should Consider Building an Online Store
In this blog, we’ll discuss reasons that make a compelling case for online stores’ role in the success of a modern-day business. Read on if you are still not convinced by the appeal of eCommerce. Keep scrolling even if you are. You’ll surely get some new insights.
Strengthen your brand image
Even if you sell products on online marketplaces, having your own eCommerce site is always wiser. Services like Magento store development enable you to create a personalized brand presence. It makes your business more easily identifiable even in a competitive landscape. When you sell goods on a marketplace, you miss the opportunity to create a brand identity.
Shoppers readily assume that the products belong to the marketplace where they buy them. But when you create your own eCommerce website, your brand gets the reputational benefit of having an online presence. It helps you significantly to build a base of loyal customers.
Operate business round the clock
With a brick-and-mortar store, you’re usually not able to operate more than eight to ten hours. But that’s not at all the case with online stores. You can easily operate an online store 24 hours a day, 365 days a year. And that too with lower overhead costs than a physical store.
For instance, using Magento store development services, you could build a feature-rich store with an array of automation capabilities. Small, mid-sized, and large enterprises alike have benefitted immensely from the advanced eCommerce capabilities of Magento.
Sell beyond your geographical limits
eCommerce doesn’t have a geographical barrier restricting your business. You can sell to any geography so long as you’re complying with the regulatory guidelines in that marketplace. That means your business now has a virtually boundless marketplace to sell goods. It also helps you build a larger customer base spread across geographies and age groups.
Also, it saves you from the financial and logistical burdens of maintaining multiple stores and different locations. You just need to hire professionals like a Magento front end developer and make your presence across markets.
Know your customers well
An online store provides you with streams of customer data. These include shopping patterns, purchase history, geography, age, gender, and so much more. You can never collect most of these while operating a brick-and-mortar store. Using advanced data analytics, you can get incredibly useful insights. Successful online retailers utilize such insights to create personalized marketing campaigns, strengthen customer relationships, and even manage their offerings.
With the right combination of data analytics and ML, you can even predict customers’ shopping behavior. Tech-driven eCommerce companies rely heavily on advanced Magento store development capabilities to integrate such features. Merchants could also deal with challenges like cart abandonment using data analytics.
Focus on customer experience & satisfaction
As mentioned above, advanced analytics enable us to understand — and even predict — customers’ needs and demands. That means customers are likelier to have more personalized experiences. And as you may already know, personalization is key to customer satisfaction.
Whether it’s a B2B or B2C operation, an immersive shopping experience helps to create loyalty and satisfaction. To create such experiences, you need expertise. And that’s where professionals like Magento frontend developers come into play. They can analyze patterns and create designs that captivate buyers. Staying focused on customer experience also means prepping your business for the long shot.
Building an online store per the unique needs of your business is something you must consider as a top priority in this time of rapid change. If you already have an eCommerce website that’s attracting the desired traffic, you could get it redeveloped. You could also choose services like Magento store migration to revamp your site with advanced features. At Magento India, an eCommerce solutions provider, we use the most evolved eCommerce software capabilities to build impeccable online stores. Small, mid-sized, and large enterprises alike have benefitted alike from our solutions.
Q. How much does it cost to develop an online store?
The costs of building an online store vary widely, depending on your needs. If you need a simple online store with basic features and a storefront, costs are comparatively lower. Magento India offers reliable eCommerce development at a competitive price.
Q. How long does it take to build an eCommerce website?
There is no predefined development time for building an online store. It depends on what kind of website or eCommerce solution you want to build. Magento India has a track record of building eCommerce solutions within the shortest development time possible.
Q. How is AI used in eCommerce?
AI is enabling retail companies to sense, predict, and automate their online business. A growing number of eCommerce businesses are successfully implementing AI and are using it to enhance their eCommerce engine and capability to generate revenue through sales and marketing.