With so many businesses closing up shop globally and around the U.S., many people believe that brick-and-mortar stores are slowly becoming relics of the past. After all, the following businesses have been found in malls and plazas for decades, but have either closed completely, or drastically reduced their locations in the past year:
- K Mart - Sears - JC Penney - Macy’s - Toys R Us - Radio Shack - GAP - Payless ShoeSource Though this might be a signal that commerce is moving in a different direction, it’s still too soon to say that all roads lead to the destruction of shopping as we know it. It does, however, point to the importance of e-commerce for any business, large or small.
Cyber Monday has become a major shopping even in recent years, garnering over $2.7 billion in online revenue in 2016. There still plenty of people, however, who get up in the early morning hours on Black Friday and trudge out to the shops to find a great deal. In fact, physical shoppers spent $655.8 billion in stores during the 2016 event. This goes to show that brick-and-mortar is here to stay; but only if done right by offering the option for online ordering.
There’s no denying the ease and convenience of online shopping. Many people want the luxury of browsing in their pajamas without a salesperson in their face so they can take the time to make a decision. Technology has made is easier for consumers to find the product they want; anywhere, anytime. No one knows this better than Amazon, the king of online retail. But with the popularity of having a physical storefront, even Amazon has branched out to create actual stores where people can go to shop. The combination of a retail shop and e-commerce comes together in harmony, and any small business who wishes to succeed can learn from this strategy.
Reaching a broad range of customers, both online and physically, is the key to increasing sales across the board. Different consumers want different things, and by offering both, your small business can run with the big dogs and acquire a diverse, and loyal, customer base. This is where having a reliable credit card processing company can help. Not only will your online payments be handled exponentially, your in-store capability of accepting credit cards will increase your sales. Few people carry cash with them these days, and everyone expects to have the option of paying with a credit card no matter where they go. Be sure to hire a professional team that delivers the best merchant services you can find so your customers feel secure and safe. In store or online, that’s just good business.
Posted in credit card processing on Jul 26, 2018