With all the turmoil over the last two years, this holiday season is an important one for retail owners to get back on track. Revenue generated during the holidays makes up a significant percentage of a retail stores’ annual profits. Getting your promotions started early is of the utmost importance if you want to maximize your profits this time of year. Here we take a look at where to focus your attention for a successful holiday season.
Ecommerce has exploded over the course of 2020 as many small retail owners have either expanded or initiated their online stores. An enormous portion of holiday shopping will take place online this year and the competition will be fierce. Having a strategy to make your store stand out could make or break your holiday season.
Ecommerce helps small business owners reach new markets in at least two ways: it expands your reach to include those who could never shop at your physical store location, and it allows people a way to check out your products before coming into your store. There are many ways to market your ecommerce site online, including blogs (your own and other people's), newsletters, social media, Google ads, and more. So the question becomes, what is the importance of utilizing ecommerce in your retail strategy and where do you need to focus your efforts?
In an increasingly digital retail landscape small business owners need to take advantage of ecommerce solutions to maintain a consistent revenue stream and continue to grow. With large online retailers cornering the market specialty retail store owners need to make their products more easily available. Even if you have a superior product, a prospective customer may purchase an inferior and possibly more expensive item instead due to the convenience of online shopping. Ecommerce is a growing marketplace, expected to be up about 14% this year, yet 72% of small storefront businesses are not selling online. It may be overwhelming to think about setting up a website, adding ecommerce functionality, and learning to integrate social media and other online marketing tools, but there are many benefits to being one of the 28% of small businesses that are selling their products and services online
With so many sales taking place online these days ecommerce has become an essential part of the success of small businesses. Owners of companies that have been around for a long time are being forced to adapt to the digital age. Venturing into ecommerce can be difficult and requires constant attention. The initial setup of an ecommerce site can be expensive and time consuming so it is imperative that you take steps to maximize your online revenue. There are several strategies that can be used to increase sales and a holistic approach that includes all of them will improve your chances of reaching the correct audience. Here we’ve outlined some of the best ways you can draw in more website visitors and create more online sales.