While your business might be strong and stable now without any ecommerce presence, you might start to face competition that could be growing a little faster than you, whether you notice it or not.
If you forecast your growth vs the native digital startups you’ll find that in some years they might overpass you.
This is happening because the market (people) behavior is evolving faster than we expected.
Just take a look to the “retail apocalypse” article in Businesws insider:
“More than 3,800 stores are expected to close across the country this year. Department stores like Macy’s, Sears, and JCPenney, and retailers including Toys R Us, BCBG, Abercrombie & Fitch, and Bebe have decided to close dozens of stores.” – BI
This doesn’t mean that if you have a retail business, it will die and you should move everything into ecommerce right away. But, just like on financial investments you should be able to diversify 😉 in case one goes “south” you have developed an other sales channel to keep your business thriving.
But again, not all business should simply step into e-commerce right away.
There are several things to be analyzed and considered:
- Is your business 100% retail ?
- Are you a reseller or do you build your products?
- Do you already sell worldwide? are you interested in doing so?
- When was the last time your company’s business model was “updated” by adding more models or changing the main one?
- Is your business model B2B, B2C, D2C?
- How are your competitors evolving in your market?
- How developed your market is?
- How does your sales growth graph look of the last 5 years?
Depending on these answers (and some others) you will get a realistic perspective on when you should start considering e-commerce as an other sales channel for your business.
Or if you shouldn’t do it at all.
Let’s talk about it and see if it is the right time for your business!
In case it is, we can develop the best strategy for your business and help you implement it hand by hand.