This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.
5 Reasons to Sell on your Brand's Website compared to Other Websites in Lockdown
This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.
Are you still contemplating the idea of creating your online store?
Well, it’s quite obvious that the global crisis of COVID-19 isn’t going to recede anytime soon. This unprecedented crisis has changed customer purchase patterns drastically. Shoppers now prefer online stores against brick-and-mortars to reduce contact and face-to-face interactions.
E-commerce is the next big thing
Readymade ecommerce websites have become customers’ go-to - be it grocery or home services, FMCG or pharmaceuticals. Big players realized this great potential and leaped onto the opportunity early on.
With more and more people shifting to online purchases, ad spends for e-commerce sites doubled from $4.8 million to $9.6 million in the week of 17 February to 9 March.
Retailers are also beefing up efforts to find new touch-points for sales and strategizing ecommerce marketing so that they can achieve customer satisfaction with door-step delivery.
A strong online presence is vital in this scenario of risk vs.opportunity. Hence, it’s important to shift your business online. But most importantly by creating your readymade ecommerce website.
Becoming a vendor or by listing your products at a marketplace like Amazon or Flipkart might seem appealing and less bothersome at first glance.
However, in the long run, the benefits of running your online store will outgrow your desire to sell products at other websites.
Perks of selling products on your website against a multi-vendor online store
1. Customers like to purchase from a brand
The majority of customers indeed like to purchase from a company that they trust. To be able to gain that kind of credibility, you need to emerge as a strong brand in the market.
On one hand, listing your products at online marketplaces will shadow you amidst hundreds of other retailers and curb your brand identity. But on the other hand, it will leave you with limited flexibility and control to handle your business processes.
73% of people prefer brands that personalize the shopping experience. But with limited flexibility in a marketplace, you can hardly entertain your customers the way you want to.
Having your own ecommerce app or website with your brand name as a domain name instantly rings a bell in your customers’ minds and helps you increase your brand recall value. Besides, you can have full control of doing your business your way.
2. Take home the bacon
Yes, that’s the biggest perk of having your online store against listing your products elsewhere - you do not need to give a commission fee to the owner of the website. After subtracting all the add-ons and overheads, the entire profit is yours to take.
Of course, marketplaces attract a huge number of customers per day. But those customers will be browsing so many product pages before they purchase a product from a specific vendor.
Why share your products and profit with someone else when you can have it all!
3. Have full access to customer data
There are a lot of ways to gain customer data once a shopper purchases or visits your ecommerce website. From asking your shoppers to subscribe to your newsletter to have them sign up for an account - you can have their data recorded for future use.
But on online marketplaces, this data remains with the owner and not the vendor. This means you cannot retarget your customers for offers, deals and promotions.
You are bound by the decisions of the admin of the marketplace and have to tweak your offers accordingly. With the less hassle-free approach of just being a vendor comes a downside of not getting complete access to your customer data. How harmful can that be for your business?
4. Grab the freebie
If you are worried about the capital investment to launch your online store, then the good news is that it costs next to nothing.
An idea is all it takes to launch your web store. With a reputed ecommerce platform provider you can set up your online store instantly.
Quick eSelling helps e-retailers to launch their online store free of cost. Amid the pandemic, the platform has already helped more than 5000 retailers to kick start their online shops quickly. In under two weeks, entrepreneurs from across the world have grabbed this opportunity and have started selling online.
With the help of Quick eSelling, you too can give your business a quick head start, absolutely free.
5. Future is online
Social distancing is going to be the new normal for the entire world. Even after the pandemic, it will become a part of our lives for a long time. In this scenario, the future for retail is online.
Selling on a personal store will reduce dependency in various ways and help your brand grow swiftly.