The 21st century has been described as the digital age due to the new dependence on the use of the internet by individuals in their everyday life and businesses of every size. Some businesses have abandoned the use of conventional shops and have gone completely online, and for good reason.
Many think that almost all businesses will delve online in the next decade and here are a few reasons why.
The Digital Revolution
For any business offering goods, like individual products or a collection of retail property, moving online has been a godsend. Before the rise in the popularity of online shopping, to be able to run a business and sell goods you would need a facility. If you were to purchase or rent a place to sell your goods from, you would be spending a large margin of any profits that you made simply paying the rent. Because of the increase in rental costs in the last decade, it has become extremely difficult for starting businesses to make it past the first quarter because of their bills outweighing their profits.
Going completely digital has helped improve the survival rates of new and old businesses by getting rid of a lot of the detrimental costs. When businesses decide to go digital they no longer have to pay to use a facility to distribute their products from, instead, they only need to find a place to store their products. Storage options are far cheaper than renting a location in the city centre. Instead of allowing people to enter their stores to browse, they instead advertise their products online. The business owners will then only have to deal with postage as a major cost, as opposed to the cost of running bills.
Setting up an actual site is also exceptionally affordable. It’s also something that you can do yourself if you know how to, and if you don’t it is something that can be easily learned. If you were to hire a professional to help to create a site to sell your goods from it wouldn’t be too costly, especially if you compare it to the costs of running an actual shop. There are plenty of websites online that help by providing the necessary templates used by successful retailers, so really its’s quite a straightforward process.
It’s not just retail businesses that have taken the digital step. There are a lot of businesses that operate completely online, making a whole sector of people work from home. An example of this the running of a SEO agency. This is something that can be done entirely online and can boost the reach of a lot of other companies taking advantage of digital distribution. They do this by boosting the appearance of businesses’ pages and also including a few keywords that improve their position in google searches.
Businesses deciding to go digital is also a result of the increase in fast demand customers. A lot of people these days have become accustomed to the efficiency and appeal of next day delivery and have started to become used to the lack of effort that goes into getting a product delivered to their homes. Because of this, a lot of people have stopped shopping in public entirely, making a lot of jobs completely redundant. The best example of the prime businesses deciding to go online is travel agents. Travel agencies simply did not get enough attention once booking online holidays became common practice. A lot of companies that provided holidays adapted to this and moved completely online. Their move to digital distribution helped their businesses survive and also saved them a lot of money on the use of employees, meaning they could offer better deals to their customers.
Operating online also gives businesses access to lots of analytical information that helps improve the way they run their business. You get direct information about what your customers like and dislike which means that you can start doing things that will help increase your customer base. Operating online also means that businesses can make any changes that they would like to make quickly if they had a business that required physical interaction they would not be able to make these changes quickly enough.
Operating online means you can also take advantage of the use of online advertisements. Online advertisements are far more direct than the usual ad methods and that is even more true if your business operates online. This is because if you operate a business online, ads will be able to link directly to your site and will help your business gain more attention. This also means that you can advertise via social media for free and once again save yourself money, which would not be the case if you had physical stores.