What may the differences between an online store vs. the physical store?
There are more similarities between the online store and physical store, but when it comes to user experience and cost, there are lots of differences. Firstly they are not quite the same in the physical sense. They have similarities such as products, offers, and quality and many more. The most important decision you have to make for your business is selling products through traditional bricks-and-mortar or builds an e-commerce website.
We have certainly come across the long way from the early days of E-commerce when we all have uncertain about online shopping. Today it has changed; most of the people know how to shop online, the popularity of online stores increased. Mobile tools let us shop online at any time, and where ever you are, you can comfortably buy with a few steps of mouse clicks. Many advanced features are there on an e-commerce website to come out of the competition. The online stores have several benefits, and it likewise has some drawbacks also.
Pros of the online store
There is no dubious shopping online is very convenient. People who do not want to leave the comfort zone of their home. If you need some product immediately and you don’t want to leave the comfort of your home, or you don’t have enough time to go out and shop, what you will do? You will go through your phone, and search for the e-commerce websites, then; you will buy the product, within minutes. For retail businesses, having an online store will allow you to have many products up on the website, unconstrained by space as you would if you were in a physical store.
The significant advantages of an e-commerce website are the reasonable setup cost. Setting up an online store has an enormously inexpensive than setting up a physical brick-mortar store. There is no need for bricks and mortar, interior look, right premise, etc. You can spend less cost on the online store than a physical store. You can reach more people with an e-commerce website, but with the physical store you can reach out to the people who are localities.
One of the immense benefits of the online store is you can reach the people who are in overseas. There is no constraint for the country or the language. You can reach many people who are thousands of kilometers away from you. If you have a physical store you can contact the person who is localities that’s all. You can trade your outcomes just as easily to someone in America as you can to a buyer just down the path as long as you can pull their attention. You can manage your e-commerce website from wherever you are.
Any time response
Your website is open for 24/7, and you can give a quick response to your customer at any time. Your customer can browse at any time, as per their according time for the product and you are ready, and you don’t have to worry about to hire a worker for your business and staff on payroll.
Save your time
If you have physical brick and mortar, you should spend more time in the shop only. If you leave your shop for a while, there may be an enormous loss. But in an online store, you can save an immense amount of time that is considerable, and you can spend more time on marketing. When you market your business for the few years, then you don’t have to put that much of effort. Easily it will go.
Cons of the online store
Delay in delivery
Extended time span and lack of proper order management result in delays in shipment. Though the time span of selecting, buying and paying for an online product may not take more than 20 minutes; the delivery of the product to customer’ s doorstep takes about 1-2 weeks. This irritates the consumers and avoids them from shopping online.
Lack of significant discounts
One of the major advantages of Physical stores, they can offer discounts to consumers and attract them, so this makes it difficult for e-tailers to compete with offline platforms. Customers have more options to feel the quality and make sure, they paying for the right product.
Lack of touch and feel of Products
The lack of touch, feel; examine fashion concerns over the quality of the product on offer. Online shopping is not quite fitting for clothes as the customers cannot try them on.
Lack of interactivity
Physical brick-mortar stores allow price negotiations between consumers and the seller. The showroom sales auxiliary representatives provide personal attention to consumers and help them in purchasing the products. Certain online shopping mart offers service to talk to a sales representative that is not as effective as personal attention.
A lot will depend on the type of products what you sell. There’s the chance to build better consumer loyalty by delivering personal attention or personal touch which many online stores don’t possess. That strong bond between buyer and seller is very useful when you want to create repeat business and develop your brand. That’s the reason many of the large retail businesses retain their physical stores even though much of the profit is coming online.
Pros of physical e-commerce
Customers Spend More Money
When customers can touch and feel items and view them closely, they feel more at ease with handing over large amounts of cash, they will build trust in your brand. For higher-end retail, in particular, a storefront provides consumers the opportunity to feel out the items and decide what they want to buy.
Owners Develop Relationships with Consumers
Despite the advantages of online chat and consumer service agents available by phone, there is little match for the ability to talk about a purchase with a staff member in a store. A physical store offers customers the opportunity to ask queries and for staff members to recommend complementary products or alternative uses for an item a customer is considering buying.
Companies Increase Their Local Credibility
Most of the customers choose to patronize stores that are unique and part of the local community. An online store can put a local address on its website; however, to make a business part of the neighborhood it’s necessary to have a physical presence as well as an effective one.
Enhanced Display of Products
A physical store offers a marketer the opportunity to create a complete showroom so consumers can fully visualize how an individual piece will work within a complete context once they buy it and bring it home. A showroom can even improve online sales, by offering an effective means of promoting items while still offering easy ways to buy them.
Cons of a physical store
Leasing or renting commercial space is among the highest expenses offline business owners pay. And it isn’t cheaper than the online store, and maybe more in big box shopping malls. Additionally, lessees may be under binding contract for years, even if the brick-and-mortar business goes belly up before the terms expire, and in renting you have to pay every month.
The physical store needs employees to perform the functions of the company. For example, a retail store needs people to take up sales, stock order and clean the facility. A service-based outfit needs people to perform the service given.
Startup and Overhead Costs
Physical brick-and-mortar businesses typically require larger financial investments to start and maintain. For instance, it will run in the tens of thousands of dollars just to acquire a franchise. Other substantial costs include utilities, business insurance, property taxes, and merchandise inventory. This is before the owner pays workers and turns a profit.
Physical brick-and-mortar businesses can reach only so many consumers unless they are a major player in their industry. If your intention is to serve only local customers, this may be fine. If you want to reach worldwide you should have an e-commerce website.
Having both physical brick and mortar store and online store is better if you want to expand your business. You can have lots of advantages through physical brick and mortar store such as you can have lots of referral customers and loyal customers. There are no worries about the bad reviews
People have more trust in physical bricks and mortar stores than e-commerce websites. If you want to some loyal customers, that’s with only physical stores more than the online store.