Preloader Emblem

10 Retail Myths On eCommerce & How To Debuck Them


While eCommerce shopping is preferable, some businesses still believe in common myths holding them to growing. Let’s debunk some retail myths on eCommerce in 2023.

With the surge of the digital age, people get more comfortable shopping online. That’s why more and more businesses use eCommerce as part of their operation. It’s also a strategy to enhance their marketing and sales.

If you have a business, leveraging eCommerce is necessary to thrive and stay competitive. Many well-known platforms exist today, including Amazon, Shopify, and eBay. Best of all, most eCommerce supports local businesses.

Although eCommerce has transformed the retail landscape in countless ways, several myths and misperceptions still exist. Whether about its cost, complexity, or impact on traditional retail models, these myths can make it difficult for businesses to fully embrace eCommerce as a part of their operations. 

In this post, we’ll tackle some of the most persistent myths about eCommerce head-on. Also, let’s explore the essential information businesses need today to succeed in online retail.

With more eCommerce platforms sprouting year after year, we can expect the online shopping industry to keep expanding. From decades ago to the pandemic period until now, online eCommerce shopping remains preferable.

In 2025, experts estimate that online global retail sales will surpass $7 trillion. Along with astonishing sales, businesses, and online shoppers will keep facing new trends in eCommerce, which bring more convenience than before.

Some trends we expect to keep on the rise include personalized shopping, video marketing, digital wallet payment, and buy-now-pay-later service. You may have seen these trends, and they seem to stay with us for years ahead.

Moreover, a survey shows over 56% of consumers prefer buying products from online stores. Most buyers shop on eCommerce platforms because of 24/7 availability, limited discounts, convenience, and speed.

data on reason to shop online

Source:

Why eCommerce is important for businesses of all scales 

We’ve curated why eCommerce is important in your digital marketing strategy. From reaching more audiences to enhancing the sales cycle, here’s the list you need to know.

#1. Reach more expansive prospects

One of the biggest advantages of eCommerce is the ability to reach a wider audience. Unlike a physical storefront that is limited by geography and accessibility, eCommerce businesses can reach customers all around the world. 

This strategy can be especially beneficial for small businesses that may need more resources to open multiple locations. eCommerce platforms also allow businesses to target specific demographics and market their products to audiences most likely interested in their offerings.

#2. Provide shopping convenience

Customers today expect convenience when shopping and eCommerce provides just that. With the ability to shop online from the comfort of their homes, customers can make purchases at any time without leaving their houses. 

Many eCommerce platforms also offer the convenience of easy navigation, search functions, and filtering options to help customers quickly find the products they are looking for.

#3. Lower overhead costs

Operating a physical storefront can be expensive, with rent, utilities, and other expenses adding up quickly. eCommerce, on the other hand, can be a more cost-effective option for businesses. 

With no need for a physical location, businesses can save money on rent and other expenses and reinvest those funds in other areas of their operations. Moreover, businesses may also require less number of employees.

#4. Collect vital data and reports

Collecting data related to your online store performance is essential. eCommerce makes it easy for businesses to see vital metrics, garner data, and generate reports. This way, businesses won’t spend forever analyzing their sales.

Detailed data and in-depth reports are necessary to check your strategy. You can spot gaps and make informed decisions based on data. For example, if incorporating user-generated content drives more sales, you must keep doing and improving the good work.o

#5. Enhance marketing and sales cycle

Most importantly, eCommerce can enhance marketing and sales cycles. Sometimes, relying on websites and email marketing can take a while to generate deals. And eCommerce can be the go-to platform for buyers to purchase products.

Better still, eCommerce also helps businesses to handle many things, from procession orders to providing shipments. Many platforms offer plenty of payment methods, including the popular buy-now-pay-later service.

Debunking eCommerce myths

As eCommerce becomes more relevant to businesses today, you can always follow the trend. The following discussion can help you debunk some common eCommerce myths to grow your business in 2023.

Myth #1: eCommerce is killing brick-and-mortar stores

Many people believe that the rise of eCommerce is causing the death of traditional brick-and-mortar stores. They think the convenience of online shopping leads to the closure of physical stores.

Debunking the myth:

The truth is that brick-and-mortar stores can coexist with eCommerce, and many retailers are finding success by integrating the two. In fact, having a physical store can help eCommerce businesses.

eCommerce helps provide a location for customers to pick up their orders or try on products before buying. Moreover, customers still prefer to shop in person for some products, such as groceries or furniture.

The clothing brand Everlane started as an online-only retailer but has since opened physical stores in several cities. Similarly, eyeglasses company Warby Parker began as an eCommerce business and has since opened brick-and-mortar stores across the US.

everlane homeapage

Source:

Myth #2: eCommerce is only for large businesses

We notice that more big brands are gaining massive attention on eCommerce platforms. This case makes people believe that eCommerce is only feasible for large businesses with the resources to set up and maintain an online store.

Debunking the myth:

The truth is that eCommerce is accessible to businesses of all sizes. There are user-friendly eCommerce platforms that make it easy for small businesses to set up an online store without needing extensive technical expertise. 

Additionally, eCommerce can be a cost-effective way for small businesses to reach customers beyond their local area. It also helps them process orders, payments, and shipping, saving energy and countless hours.

For example, the jewelry company Catbird started as a small store in Brooklyn but has since grown its eCommerce business to account for most of its sales. Another example is the children’s clothing brand Primary, founded as an eCommerce business and expanded to include pop-up shops in major cities.

catbird homepage

Source:

Myth #3: eCommerce is too complicated to set up

Numerous businesses take a step back to using eCommerce because they think setting up one is complicated. On top of that, they also believe that it requires extensive technical knowledge to join eCommerce.

Debunking the myth:

Many user-friendly eCommerce platforms make it easy for anyone to set up an online store. These platforms offer templates and drag-and-drop editors that make it simple to design a professional-looking site without any coding knowledge.

Shopify is a popular eCommerce platform offering various tools and templates to help businesses set up an online store. Squarespace is another option that offers drag-and-drop editors and pre-designed templates.

Myth #4: eCommerce is only for certain industries

Another common myth is that eCommerce is only viable for certain industries, such as retail or consumer goods. While this can also be true, it’s not completely accurate.

Debunking the myth:

eCommerce can be successful for a wide range of industries. For example, service-based businesses such as consultants or personal trainers can offer virtual sessions or courses online. 

Even industries like healthcare and education are starting to embrace eCommerce by offering virtual appointments or courses.

We can look at the online therapy platform BetterHelp uses, which offers virtual counseling sessions to users across the globe. Another example is the language learning app Duolingo which offers language courses that can be accessed online or through a mobile app.

Myth #5: eCommerce is expensive

Setting up an eCommerce store is expensive, says someone. The myth says that creating an online store on eCommerce needs high upfront costs. Is that true?

Debunking the myth:

In reality, eCommerce can be cost-effective compared to traditional offline stores. There are user-friendly eCommerce platforms that offer affordable pricing plans. Additionally, online stores eliminate many expenses associated with physical stores, such as rent, utilities, and staffing.

Numerous cost-effective eCommerce options offer various features and pricing plans to suit different business needs. For example, Shopify offers plans starting at $29 per month, while WooCommerce is a free eCommerce plugin for WordPress websites. 

Other affordable options include Big Cartel, Square Online, and Ecwid. Businesses can keep their eCommerce expenses low and maximize profits by choosing the right platform and utilizing cost-saving measures such as drop shipping.

Myth #6: eCommerce is not secure

Some businesses and buyers think that shopping online is risky. The underlying reason is that they input personal and financial information when processing payments, which can cause cyber crimes.

Debunking the myth:

eCommerce platforms use various security measures, such as SSL encryption, to protect customers’ information. Moreover, various third-party security tools and services are available to enhance eCommerce security further. 

Shopify offers 24/7 fraud detection and SSL encryption on all pages. Also, online payment gateways like PayPal, Stripe, and Authorize.net have built a strong reputation for secure online transactions. 

Additionally, online retailers such as Amazon and Walmart have implemented advanced security protocols to ensure the safety of their customers’ data.

Myth #7: eCommerce only works in certain countries

One of the myths that many small businesses don’t join eCommerce is that they think it only works in developed countries. The reasons are that those countries have reliable internet access and widespread credit card usage.

Debunking the myth:

eCommerce is a global phenomenon and is accessible to businesses and customers around the world. Emerging markets are experiencing a boom in eCommerce due to the increase in smartphone usage and the vast availability of mobile payment systems.

According to Statista, Singapore leads the eCommerce sales by 36%growth, followed by Indonesia by 34%. Other countries like the Philippines, India, Argentina, Mexico, and Brazil will also show growth in eCommerce sales in 2022.

Myth #8: eCommerce is a fad

The rise of eCommerce makes some think it’s just a temporary trend that will eventually fade away. Many businesses fear they will miss the timing and fail to thrive in the competitive market.

Debunking the myth:

eCommerce has been with us for decades and continues to grow exponentially. Global eCommerce sales are estimated to reach $6.3 trillion by 2023 and will keep increasing by then.

Myth #9: eCommerce is too competitive to succeed

You may also have heard that the eCommerce market is oversaturated. What’s scarier is that new businesses can’t succeed.

Debunking the myth:

While it’s true that the eCommerce market is competitive, there is still plenty of room for new businesses. Businesses can carve out a successful online presence by finding a unique niche, offering exceptional customer service, and utilizing effective marketing strategies.

Niche eCommerce sites like Huckberry, which focuses on outdoor gear and men’s fashion, and Brooklinen, which sells luxury bedding, have found success by targeting specific audiences and offering exceptional customer experiences.

Myth #10: eCommerce doesn’t have a strong ROI

Many businesses think that eCommerce is necessary. They believe that the ROI generated from eCommerce is lower than from physical stores.

Debunking the myth:

eCommerce can offer a higher ROI due to lower overhead costs and wider customer reach. Not to mention its ability to collect and analyze customer data to offer personalized marketing and help draw accurate decisions.

Online fashion retailer ASOS reported a 275% increase in first-half profit thanks to the popularity of eCommerce during the pandemic. The example shows that eCommerce can have a strong ROI when implemented effectively.

ASOS.

asos homepage

 Source:

Takeaway

Amid the surge of online shopping, some businesses don’t want to jump into the arena. Some common eCommerce myths significantly influence their attitude of underestimating eCommerce.

The above discussion can help you explore the benefits of eCommerce for your business. Use appropriate marketing plugins and strategies, such as incorporating video content and social media to reach broader prospects.

eCommerce shopping shows no sign of ending soon, so it’s safe for you to join the trend today. Besides, we’ve discovered and debunked some common myths to expand your business in 2023 and beyond!



Source link

Categories

Leave a Reply

%d bloggers like this: