Why e-Commerce? Why now?
The pandemic has shifted how consumers shop. Where in the past they may have wanted to go to large retail stores and higher-end shops to get the shopping experience. With the stores being closed and many going out of business due to a lack of an online presence they could shift too. It has forced consumers to find other ways to be able to find what they needed. That new way is the Direct-to-Consumer relationship.
Why now? The larger competitors that either went out of business or are struggling are making the necessary adjustments. Working to establish themselves online and re-gain the customers that they’ve lost. The competitive edge is not what it use to be and with a proper strategy, great product, and support services. They may never get it back completely. It has evened the field for small business owners to elevate their business and establish themselves in ways they never could before.
What’s Changed In The Industry?
A change in perception has taken place. Where people were less likely to make purchases online because they “couldn’t try it on” or “wanted to touch and feel to confirm the quality” and so on. They adjusted. This adjustment opened the door for more online stores and shops to compete in their market in a way that they never could before. The e-commerce websites that had a good reputation started to thrive.
One constant is that people want to be able to get the products that they need and promptly. Avoid waiting in lines and have a comfort level that they won’t be disappointed. Now takes precedent over the in-store experience. The lack of stock and options helped drive people to online stores and e-commerce websites. Less hassle more convenient and getting what they wanted instead of what was left. Became the new issue and problem to solve. Will the stores open again? Yes, of course, but people are creatures of habit and like to make purchases from people that they feel comfortable with and trust.
The stores will open again but the idea of another option and the doubts about being able to trust online purchases from e-Commerce sites have gone down considerably. Turning it into a more competitive market. One where solid customer service and quality products are the key factors. Leaving the door open for small business owners and entrepreneurs who have a great brand and products to thrive.
How Can The Direct-to-Consumer Experience Benefit Your Business?
One of the best ways to get your business and product known was to get it stocked in stores. While that opportunity is still there. It wasn’t easy to get a store to put your products on the shelves. When you were able to get the store to stock your product. You would lose out on revenue by sharing a percentage for access to their customers. Retail stores have been serving as Influencers for decades. The middleman, the third party that you needed to get access to customers.
Direct-to-Consumer sales not only allow you to keep your profit. But it allows you to build that relationship with the customer that you rarely get going through retailers, wholesalers, and other middlemen. The value switches from the sale to the relationship.
Selling directly to a customer base you’re gaining insights that you simply don’t get in detail from third parties. It wouldn’t be in their best interest for you to have details. That is the edge that allows them to get a percentage of the sale of your product. So while it is a great promotion and helps build brand recognition and awareness. The cost isn’t just profit. It is also engagement.
Through the engagement, you can:
- Gather insights on what they like and don’t like about your products. Find ways to improve.
- Find out about other needs that they have that could lead to new products to sell.
- Identify more information about your customer. Helping you with your marketing strategy.
- Personalize their shopping experience. Leading to more customer loyalty.
- Differentiate yourself from your competitors giving your business an edge.
Direct to consumer (D2C) & Business to Consumer (B2C) is more than just a fad that will come and go. Eyes have been opened to the misconceptions. People are embracing the ability to deal directly with a business. Understanding the advantages as they get a direct line to business making the product can improve and benefit them as the end consumer.
This is an environment where small businesses and online shops can thrive. Establish their credibility through great products and support and add longevity to their business. The David vs. Goliath just gave scenario that you used to be has changed. Goliath is staggering and trying to get its footing and David has been grinding for this moment from the start.
Summary of Why E-commerce? Why Now?
The high-end luxury experience isn’t the same online as it is walking into the store. The pandemic has affected the larger businesses’ ability to get their stock and keep their staff. The money they were shelling out to compete hasn’t been made back.
The mom-and-pop shops that made the move online can adjust faster and easier. Less moving parts and adjustments to be made. There is a real opportunity to not only lessen the learning curve but to legitimately compete in a way that wasn’t possible before. That aura and mystique aren’t what they once were.
People are more aware of the fact that they can go online and not only find what they want. But it doesn’t automatically mean they’re losing out on quality. New relationships are being formed and consumers are benefitting from it. If you can cut out the middleman and maintain more of your profit from sales. It just makes sense.
If this article resonates with you and you’re interested in finding out more about e-Commerce and creating an online store for your business. I invite you to book a free consultation. Let’s see if this is the right move for you and if Majority Media is the right company to partner with for your project. As an agency that focuses on more than just creating a website but the strategy and support needed to maintain it. It could make for a great match in helping you launch and build a successful business.
If you’re a DIY’er and like to take on the work yourself. I invite you to check out the Entrepreneurs Newsletter where I provide curated articles to help you build your brand and grow your business.
In the meantime check out this additional article that goes into more detail on 5 Ways To Grow Your E-commerce Business. The e-book is free and will provide you with information on what you should consider adding when creating your e-commerce website.