4 E-commerce Misconceptions that Can Hurt Your Business
E-commerce accounts for about 8% of total retail sales in the U.S. and is expected to outpace sales growth at brick-and-mortars over the next five years. Online retail sales are growing by 17% a year and are expected to hit $370 billion by 2017.
Those facts and figures don’t lie, but unfortunately, some small business owners do—to themselves. They tell themselves that investing in e-commerce isn’t necessary, but the truth is, refusing to take online orders may significantly affect revenue. If not now, then certainly in the future.
Here are four misconceptions to avoid and why they can hurt your bottom line.
1. “I don’t need online sales.” If you have enough offline business right now that online sales don’t matter, great! But it may not stay that way. Most companies are in the market for new customers. E-commerce lets you grow your customer base by creating a database of prospects, and with the way online sales are growing, it’s safe to say that online sales will eventually become a significant percentage of your business if they’re not already.
2. “My customers won’t purchase online.” Online shopping has almost doubled since 2010 with no sign of slowing down. Even if most of your current customers prefer to do business in person, creating an e-commerce platform now will mean that you’ll have an established online presence in the future that will be equipped to handle consumers’ changing needs.
3. “E-commerce takes too much time to set up and manage.” With all the new tools and functionality available for e-commerce, this is a misconception that’s gone by the wayside. The truth is it’s now easier than ever to accept and manage online orders. You don’t have to start out as the print industry’s version of Amazon, but your website can easily be set up and equipped to handle easy online ordering without hassle.
4. “I can’t afford it.” Creating a website with e-commerce capabilities is not an expense, it’s an investment—one that will surely prove to be well worth the money spent as online ordering continues to grow over the next several years. All businesses need to evolve and grow to stay successful, and with the rise in mobile purchasing, as well, your business can’t afford to ignore the e-commerce trend.
Ready to learn a bit more about these common misconceptions? Read more here.