There are advocates for the benefits of having a brick-and-mortar store in Australia and then there are others who think that choosing the online option is the best choice every single time.
We live in a very digital age, and due to the pandemic that all Australians had to go through, many of us switched our buying practices to online methods, and we liked it a lot.
The stores that remained still and didn’t set up an online presence went on to suffer and many of those same businesses have now closed all across Australia.
The retail domain has been undergoing a massive transformation- eCommerce plays a significant role in carving the landscape of the industry. Such an upward trajectory is gaining fame after the COVID-19 crisis.
Customers are turning to digital shopping and fulfilling their requirements. In order to understand the magnitude of such a massive revolution, it is important to check some necessary projections and statistics.
To give you a proper understanding, 2023 is the year when the eCommerce market might be valued at 6 trillion dollars. But that’s not all! As per market research and professionals, the eCommerce market might continue growing at an exponential pace in the upcoming years.
Those that opened an online store prospered, and many expanded as a direct result. If you currently find yourself in a situation where you want to start your own business but you’re not sure if it’s going to be online vs physical store then maybe the following pros and cons for each can help you to make a more informed decision.
Some say that they enjoy the face-to-face interaction that a brick-and-mortar store offers them, but many fail to understand that modern technology allows you to interact with a real person online, and you can get all of your questions answered quite easily without having to leave the comfort of your own home.
If you think of the amount of money that is going to cost to set up your own brick-and-mortar Australian business on the high street, then it amounts to a significant amount of dollars that need to be spent. You have to come up with your rent every single month no matter how your business is doing, and so this is why many people choose to set up an online store because the majority of overheads can be avoided, and you make money online.
One of the most undermined benefits of digital stores is the potential to reach consumers all across the world. Unlike a brick-and-mortar store, online brands can boost their customer base and expand beyond demographic limitations.
With a digital store, you get to tap into global markets and make sales to consumers all across the world. Thereby opening up the opportunities of endless sales.
An online store provides automation opportunities for streamlining business operations. You get to automate procedures like inventory management, customer support, order fulfillment, etc.
With the integration of inventory management software with your digital store, you can improve efficiency. Also, with the implementation of CRM or customer relationship management tools, you can actually focus on increasing the potential of your business.
Online shopping has its share of advantages. But did you know a physical store can actually bring the best of your investment? These stores provide unique benefits that might enhance the overall experience of shopping. Here are some benefits of a brick-and-mortar store:
If you want to set up a physical business, then you need to provide your customers with a place that they can browse quite easily, but they still have to leave their homes to be able to enjoy such a thing. If you become an Internet seller, then your customers can look at everything that you have to offer online, and they never have to leave the comfort of their own homes.
If you have a physical store, then it’s likely that you’re only going to be able to reach out to people who live in the town or city where it is located and maybe the next town over. When you set up an online store, then this is a completely different proposition because now you can reach out to literally millions of people from all across the globe, and this presents you with many more opportunities for your Australian business.
A physical store offers consumers a customized experience that is beyond usual online shopping. Consumers get the opportunity to interact with products physically. They can literally touch, try, and feel the items prior to buying something.
Such tactile experiences improve buying confidence by offering a hands-on comprehension of the quality, features, and texture of the product. For instance, you can physically try an outfit in the changing room instead of sending it out for returns every now and then.
One of the distinct benefits of these stores is that you get consistent assistance from proficient staff. They offer immediate help when you need guidance or ask questions. Receiving real-time answers from experienced professionals immediately is the best facility.
Such customized consumer support can offer expert advice, address concerns, and provide product recommendations. All these are personalized according to the specific needs of the consumer. Thus, it fosters a positive relationship between the brand and customers.
It is clear to see then that the online option is the best choice every single time, and if you use a reputable platform to conduct your e-commerce business, then it helps to build trust quickly, and customers will reward you with their continued business.
Opt for an online store or visit a physical one- the choice is completely yours. But don’t forget to consider the aforementioned tips and make an informed decision about it. Happy shopping!
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Abdul Aziz Mondol is a professional blogger who is having a colossal interest in writing blogs and other jones of calligraphies. In terms of his professional commitments, he loves to share content related to business, finance, technology, and the gaming niche.
Great post.