The current global pandemic has affected business and economies all across the world with lockdowns and restrictions in various countries. Supply chains have been disrupted and consumer rates have dropped drastically.
Customer behaviors have changed, and people are mostly buying essential items that cater to their needs. Brick and mortar stores have been hit the hardest and lost their customer base unlike ever before. Many industries, such as retail and restaurant, have seen a large number of businesses go under and permanently shut down.
Uncertain customer behaviors and the growing number of COVID-19 cases have rapidly moved retail businesses online. Many retailers that adapted early on to online platforms like Wilelink have successfully managed to save their businesses from the grips of the current recession and economic instability.
The new normal has seen global retail sales nosedive yet online sales have boosted higher than ever before. In March of 2020, online sales volumes increased by a record breaking 50% than the previous year. This was the first big sign that online retailing in a pandemic is the way to go.
Benefits of Online Retailing in a Pandemic
There are a number of reasons that make online retailing in a pandemic beneficial and profitable for any kind of retail business. These include:
1. Saving Money
Since retail businesses do not need to, or are not allowed to, keep their brick-and-mortar stores open during a pandemic, they can save a substantial amount of money. Retail businesses no longer have to pay for things such as:
- Utility Bills
- Other additional costs of brick-and-mortar retail stores
This helps them save money during these tough times to spend it in places where it can be more beneficial like, salaries and marketing.
2. Wider Reach
Moving your retail business online will instantly give you a wider audience than any mall or shopping strip that ever existed. This is simply because of the ever-increasing volume of online shoppers during this pandemic.
Additionally, when a retail business solely focuses on online channels, they can effectively expand their reach to wider audiences because they are not focused elsewhere. Especially if they expand their retailing on a global online platform like Wilelink, they can reach even wider global audiences to sell their products.
They can also focus their time and efforts on improving digital marketing, targeting relevant prospects and easily reaching them through online mediums such as social media platforms, emails and online ads.
3. Increased Control
Unlike a physical retail store where owners have little control over interactions and customer experiences, online retailing gives them control over these things. They can manage and improve interactions and customer experiences much more easily and increase their sales by building trust and loyalty among customers, who will then be more likely to repeat purchases.
Online retailing in a pandemic is the best way to survive these tough times and increase the sales of your business. Platforms like Wilelink offer you global audiences, safe transactions, increased control and great customer experiences, making it a no brainer to move your current retailing online.
Join Wilelink today to not only save your retail business from going under but to experience sales unlike ever before.