In the last several years, we have seen a remarkable transformation in the way how people buy. It has become difficult to choose between selling online through an eCommerce store and selling in a traditional bricks-and-mortar location.
With the advent of online stores the commercial activities like the exchange of goods and services for money, between parties, have become outdated. Through e-Commerce, people can buy goods, pay bills, or transfer money in just one click. But still, many people prefer traditional commerce over e-Commerce because they feel that the latter is not safe.
Online or Offline?
Online retail is continuing to grow at an astounding rate, yet most people still actually prefer to shop in-store, so there are still great opportunities for retailers to take advantage of both. Which option you choose will depend on your business, the product you sell and how you want to interact with customers.
Advantages of Brick and Mortar or Offline business:
The customers in offline business feel it is easy to trust the owner as he is financially stable and has a shop or a store. Customers like to see and feel products before spending money on them usually when the product is Jewelry, electronic items, clothes etc. In Offline business, the chances of customer walk-ins are high which ultimately lead to a higher amount of sales.
Disadvantages of an Offline Business:
The only challenge faced by offline business is the cost involvement due to infrastructure facilities and human resources. But, this is not enough, with money it also requires a continuous supervision.
Advantages of Online Business:
Visibility is the most important advantage of Online Business. It is visible to people all around the world once the website goes live. It is cheaper and economical to start up the business online but to promote the websites, you need to invest money. The website is able to attract customers with the help of Digital marketing tools like SEO (Search Engine Optimization).
Online business gives a lot of options for startups as they can choose from the list of options to create a website on service-based business, content-based websites, selling affiliate products, selling books, clothes, electronics, scrap etc.
The Internet gives great opportunities to reduce costs and maximize profits and that’s the reason more and more companies are shutting down their offline businesses and getting into online businesses as it is open 24 hours a day and sometimes it is even 24/7 welcoming income flow. It is an important advantage of an online business.
Disadvantages of an Online Business:
There are many people who want to become rich quick and when it comes to starting up a business, online business comes to their mind.
The most successful internet entrepreneurs have two things in common, first, they are strategic in their work with the analytical mind and second, they worked hard during the time of startup.