One of the biggest shopping trends in recent years has been the rapid switch away from storefront businesses to online retailers.
The trend has been worrying for many brick-and-mortar business owners, as the lack of customers is hurting their sales and forcing closures.
So why are online retailers dominating the eCommerce vs. retail stores battle? Why are stores with physical locations struggling so badly? Here’s why people are staying away from storefront businesses.
Storefront Businesses Offer Less Convenience
Perhaps the biggest reason why people are staying away from traditional storefront businesses is due to the convenience that online shopping offers.
The truth is, going to a storefront business is extremely inconvenient compared to shopping online. Customers can go to an online retailer from the comfort of their home and instantly search for any product they want.
RELATED ARTICLE: 5 WAYS TO IMPROVE YOUR CUSTOMERS’ ONLINE SHOPPING EXPERIENCE
Alternatively, if a customer wants to shop at a storefront business, they have to leave their home. What’s more, they also have to spend considerable time looking around and shopping for the products they want.
In a world that is becoming increasingly more geared toward instant gratification, online shopping’s convenience is becoming even more attractive.
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Shoppers Have Fewer Options
Another major reason why people are staying away from storefront businesses is the limited options they offer.
When you go to a traditional brick-and-mortar retailer, the items you can purchase are essentially limited to what’s in the store. There’s nothing worse than spending time traveling to a store’s physical location only to find out they don’t carry the product you’re looking for. Worse yet, the item could be out of stock.
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On the other hand, shopping online provides customers with almost limitless options. You can search on the Internet for any product with any available design. And it will hardly take any time at all. The abundance of options online retailers provide makes it extremely difficult for storefront businesses to compete.
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Products Are Pricier in Storefront Businesses
A major disadvantage that traditional storefront businesses have is the overhead costs that come with having a brick-and-mortar location. These stores must pay employees like cashiers, rent on the store’s building, as well as any utilities.
They then must calculate these costs into the cost of producing a product. As a result, their products are more expensive.
However, many online retailers don’t have a lot of these costs. Therefore, they have the freedom to mark down their products and still retain the same amount of profit. The lowered prices drive even more consumers to their business, taking customers away from traditional storefront retailers.
Customers Can’t Personalize Sales
An underrated reason for online shopping’s success is its ability to personalize sales and offers.
When a consumer shops online, their data is stored in cookies. This allows online retailers to personalize future offers. As a result, most of the deals and offers that an online shopper sees are tailored just for them.
Unfortunately, traditional brick-and-mortar stores can’t offer this type of personalization. Storefront businesses must cast a wider net with their deals and advertisements. This means their campaigns are less efficient.
Traditional retail locations don’t have the data or capabilities to personalize advertisements and deals. Therefore, their promotional methods sometimes fall on deaf ears.
Learn About Starting an Ecommerce Business
If you would like to learn more about starting an eCommerce business or selling products online, start planning and doing your research now.
There is a lot that goes into starting your own online shopping experience or selling products on Amazon, eBay, Etsy, or similar type sites. However, the opportunity is real, and it’s waiting for you.
To get more ideas for a business you can start today, be sure to browse our blog.
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