Key Factors to Keep in Mind When Transitioning Your Retail Business to the Online Space
Moving Your Retail Business Online: 4 Things to Consider
Online shopping is getting more popular every year. Because of COVID-19, many physical stores are moving their business online to reach customers who are staying at home. In fact, online sales are expected to reach $467 billion by 2024! But building an online store can be challenging. Here are 4 things to consider when moving your store online:
1. Choose the Right Marketplace for Your Online Store
There are many places where people can buy things online. Finding the right place to sell online is an important first step. You can set up a store through your own website (like coolshirts.com) or use third-party platforms like Shopify and Woocommerce. Some businesses also sell on marketplaces like Kogan, Amazon, and eBay to reach more customers.
Koi can help you manage both your physical and online businesses. We have our own shopping cart built directly into Koi, but you can also synchronise with other e-commerce platforms like Shopify.
We used Koi to grow our online business, and now you can use it too!
2. Create a Strong Online Presence for Your Store
Once you've chosen where to sell online, set up your store! One of the benefits of ecommerce is that you can sell to customers far away from your physical store. But they need to be able to find you! Make sure your website has clear and descriptive content, including product descriptions, so you appear higher in search results. Social media, especially Instagram, is also important for ecommerce.
3. Practice Fulfilling an Order Before You Launch
Before you launch your online store, make sure you can fulfill orders smoothly. Place a test order on your shop to see if everything works correctly. Ask yourself: How will I import orders to carriers? Do I have packing supplies? What tools do I need for automation? Is my brand visible on packaging and labels?
4. Keep Improving Your Delivery Experience
Online shopping is convenient, but customers miss out on the human element of buying in-store. To build relationships with customers, ecommerce companies improve their delivery experience. Offer choices like in-cart delivery options or free standard shipping. Have a solid returns policy to make it easy for customers to return items if needed. Stay up-to-date with customer expectations to adapt your delivery experience.