Why you Need E-commerce for Your Retail Business?
As more and more businesses either shift to an online shop over a brick and mortal establishment or establish an online store front to complement or augment their existing physical store setup, small to medium sized businesses, and even large companies alike are beginning to realize the many benefits of having an eCommerce solution when it comes to retail selling.
As such, aspects and features offered in eCommerce solutions help online entrepreneurs to leverage cost savings allowing them to offer more competitive rates. Here are a few factors that eCommerce solutions contribute so that retailers can offer more competitive rates that satisfy the cost savings goals of the majority of online consumers:
Less Operational Costs
Setting up a brick and mortal business establishment entails plenty of costs. There is capital expenditure to look into such as fixed assets, equipment, space renovations, and other materials. Operational costs is also one main factor as space rental, utilities, and services entail recurring costs. These expenses add up to the total retail price of a product or service.
Eliminating some, if not all, of these costs, results to less product or service costs which can be passed on to consumer. Products or services sold online therefore can offer more competitive prices consumers can enjoy.
Allows Consumers to Make Informed Decisions
Aside from the convenience of having to order products online with just a touch of the button, consumers enjoy the efficiency of having to compare prices, features, and specifications of products or services all in one place. This results to less time, effort, and money spent by consumers on sourcing products before making a purchase.
Online retail shops enabled with customer profiling capabilities help consumers make informed decisions. This is advantageous for both retailer and consumer as consumers get to enjoy a less tedious search process for products and services while retailers get to communicate directly to consumers, products that they are potentially interested to purchase.
Retailers get to Efficiently Manage Business with Integration of Services and Features in eCommerce Platform
Maintaining and monitoring of inventory levels, financial reports and analysis, customer service, automation, and communications activities are more manageable with eCommerce platforms and solutions that offer integration of features. It is cheaper and easier for businesses to establish and maintain an online store, bottom line.
X2X is an add on module for Microsoft Dynamics GP, an ERP for Medium size businesses. Microsoft Dynamics GP enables control and monitoring on financials, inventory, and operations – for informed decisions that leads to business success. With an ERP Solution integrated to an eCommerce platform, like X2X eCommerce, retailers can stay ahead of the competition.