GOOD NEWS ON THE HORIZON FOR BRICK & MORTAR RETAIL!
If you own a brick and mortar business in 2019, there is some good news on the horizon.
The National Retail Federation predicts that the state of the economy in the USA is sound and estimates that retail sales growth will be approximately 4.4% higher this year than in 2018.
Retail sales in 2018 were 4.6% over the previous year. That would mean if you owned a store front on Main Street, USA and your annual sales were $250,000 your increased gross profit would have been around $11,500. No small change!
The even BIGGER & BETTER news is that non-store sales were up 10.4%. According to the US Commerce department, online retail has grown a whopping 300% between 2000 and 2018. So if you, as a retailer, have made the decision that e-commerce isn’t in your very near future, you might as well start closing up shop, because consumers have changed the way they shop. While this may be nothing new to you, NOW is the time to step up and add eCommerce to your business plan. Remember, Amazon isn’t bring retail to it’s knees, it’s retailers who sit back and hesitate to offer customers an in-store experience and the ability to shop at their convenience.
Retail isn’t dead, but there are new tricks to staying relevant and one of them is Multi-Channel-Shopping.
What is MULTI CHANNEL shopping you may ask? Multi Channel is the way most consumers shop today; in-store, online, through social media platforms, apps and more.
If your Retail Store Front is not seeing the sales results you are hoping for, it may be the time you investigate and implement multi channel avenues for the convenience of your customer. The hard reality is that if you don’t provide an easily shoppable, consumer-centric experience, someone else will and they will be the winners in business growth and success.
Let’s start with the obvious- do you offer your customers the ability to shop from your on-line store as well as on your social media platforms? E-Commerce is an ABSOLUTE MUST HAVE, for retailers today, in order to remain relevant and successful. If you answered no to this question, today is your day to start building a multi channel experience for your customers.
If your budget allows, start by hiring a web designer to build your e-commerce website to save you time. When your budget doesn’t allow for a website developer, there are plenty of platforms that can help you design an e-commerce site allowing your customers to shop and buy from you any time of the day or night.
You can build a website on your own that looks beautiful, is cohesive, optimized for mobile and easy to navigate. While savings thousands of dollars is one reason to DIY, it can be extremely time consuming. Our experience shows that it may take weeks to get the desired results and depending on how much product you are adding to your on-line store, you will be continually updating your site with new seasonal products, sales and offers. E-Commerce in not a one and done project, it takes continual promotion, editing and updates to make it a money generating vehicle for your business.
While coding experience isn’t necessary, having a creative eye does help with the branding, color schemes and layout of your new website. There are many template based web design platforms to choose from for your e-commerce site. Wix, Squarespace, Shopify are just a few of the popular platforms that simplify website design for DIY.
If the thought of designing your own site terrifies you, (even if it saves you thousands of dollars), but you love the thought of a DIY website (because it saves you thousands of dollars), we are excited to share our new course for DIY website design, development & management. If you would like to take part in this exciting course that walks you step by step through the building of your website, with side by side support by our web designers, contact us today, for updates and event dates.
IS YOUR BUSINESS READY FOR E-COMMERCE? Take our quiz today!