Expand Your Business Market Place

Expand Your Business Market Place

Any business worth its salt whether an online store or a brick and mortar has to consider what are the best marketing strategies to employ for the best sales outcome.  The need to expand your business market places is constant for any business looking to sell more volumes and seeking growth. Brick and mortar stores usually achieve this by conducting a market feasibility study to see what areas of their geography need their services. Once this is established it usually means opening a new branch in the area to deliver the required service or product.

Although this approach works most of the time, times have changed, and technology has disrupted the conventional way of doing retail business. Brick and mortar stores remain functional in today’s society and still have the majority of shoppers. However, technology has created new digital markets that were not there two decades ago.

The New Global Market place

This new digital market space known as online shopping started slowly but is now on a rapid rise. In 2017 alone, 1.16 billion people shopped online. The online sales forecast for the next few years leading to 2021 is projected to reach $4.8 trillion.

Consider the fact that in 2018 holiday season, the US online market registered $126 billion. The online shopping holiday that has come to be known as Cyber Monday happens on Monday just after Thanksgiving. In 2018 this shopping holiday made history with almost $8 billion spent in a single online shopping day.

This recent statistics helps an entrepreneur looking to expand his business to understand that the digital market place cannot be ignored and is worth serious consideration.

The fortunate thing for any entrepreneur is that expanding their business to include a presence in the digital space is not as hard and costly as it used to be. This is because creating an online store has been made so simple such that anyone can create an e-commerce website in only a few minutes and starts selling immediately.

Two e-commerce platforms for best online store designs

Let’s take a look at two e-commerce platforms with easy to use web building tools that can help you retail in the digital market.

1. Square Space

It’s important to point out that square space is a non-specific e-commerce website builder and this may in part explain why their e-commerce rates are reasonably low. It is a great e-commerce platform for amazing designs and attractive mobile friendly themes. I mention mobile friendly because, in today’s online space, that could be the difference between massive or dismal performance for your online store. This is because a considerable portion of online sales is through mobile devices such as smartphones as well as tablets. Here are pros and cons to weigh before you consider before using Square Space for your online store.

Pros

  • 14-day free trial
  • Affordable monthly payment plans
  • Excellent designs
  • Sell unlimited items
  • Product upload can be done in bulk
  • Shows revenue reports

Cons

  • Limited payment methods
  • The interface is not the easiest to use and takes some getting used to
  • Does not have an app store

Although Square Space has the basic e-commerce tools to run your store with ease, the lack of an app store may be a put off to those who like augmenting their store with apps such as those that help in marketing and accounting just to name a few. One of the strengths that Square Space has is stunning pages that showcase your products in a way that appeals to would-be customers. In retail whether physical or digital, presentation is a massive part of your success.

2. Wix

For those with an eye for design, Wix is an excellent option and just like Square, it is worth noting that Wix is a non-specific e-commerce site. What this means is that its capabilities are not solely directed at e-commerce and those who want to create a regular website can also do so using Wix web builder. To draw a clear distinction, online store creating platforms such as Shopify, BigCommerce, and Volusion just to name a few are dedicated e-commerce website platforms.

Nonetheless, Wix does a fantastic job of delivering a stunning website. The attractive themes do a great job of presenting your products or services Ina professional manner. Perhaps Wix’s greatest attribute that users love is the ease and quickness with which it allows you to create an online store

The drag and drop Wix editor is exceptionally user-friendly and what you move on the screen, (such as a text box or graphics and video) will appear just as you see it on the draft when your site goes live. This is a most welcome development and a far cry from other website builders whose only way of achieving this is to make edits on a back end and then preview to see the way those changes would like. 

Pros

  • Has a mobile editor
  • You can embed videos for a better and more detailed presentation
  • Amicable interface
  • Impressive app store

Cons

    • The inventory system is pretty poor
    • Lacks the capability of selling across multi-channels

    Although Wix’s inventory system is lackluster, this fact is often overshadowed by their mobile app that offers great convenience that allows you to manage and monitor your online store through your Smartphone while on the go.

    This is in addition to a well-supplied app store. If you are a small business with not too many items to sell and looking to do so through a smashing online store, then Wix is the way you want to go in expanding your business to the digital market space.

Conclusion

There are many avenues in which one can expand their enterprise. But there is no denying that the online market place is one such avenue that should be exploited due to the sort of reach that it allows your business to achieve. Every entrepreneur can accomplish a successful expansion through an online store building platforms such as Wix and Squarespace to harness the massive selling potential of the online marketplace. 

Business Market