Pros and Cons of Online retailing
After looking at how we shop today and how its continuously evolving. I think It’s interesting to point out the steadily rising use of online shopping. There are so many different factors to consider when talking about the pros and cons of ecommerce retailing. The internet can be an excellent resource for shoppers looking to increase their purchasing options, as well as a great way to save money.
There are a number of advantages to online shopping. One of the best parts about online shopping is that the store is never “closed”, you always have the option to look at different products that you want and shop for as long as you want in your underwear. It’s so much easier to sit at home, find what you want and have it delivered directly to you. Websites like Amazon allows customers to order things from the palm of their hand have it readily available to them in just two days with Amazon Primes shipping (Offered to students all over for a discounted price.) You can avoid the crowd along with the long lines and crowded parking lots during popular store times. If you are a very introverted homebody type, online shopping is the best thing that ever happened to the world. With new technology available online representatives often are often incredibly helpful and flexible to aid you in finding what you need for the best price! Online shopping also gives shoppers the opportunity to easily compare items and read reviews. You’re able to line up different products next to each other and find the best options. I know at least for myself I’m always able to find more discounts online rather than the actual store. When you reach the point of checking out your cart there always are options for code redemptions, you can save tons on simply plugging in a one-word phrase and dropping the total price.
While all of that sounds great there are some negatives to shopping online, sometimes a product that appears great falls vastly short than what you imagined. Online shoppers don’t have the opportunity to try things out in person. Also, problem solving becomes a real issue when you’re in a hurry and you want to talk to the same representative that you talked to face-to-face previously. It’s harder to reach next level management when you’re struggling to settle an unresolved issue. Trust is a major part of shopping and sometimes It’s difficult to build that trust through a potentially sketchy web page. Online consumers don’t always know if a site is legit or not and this makes scams so easily possible. Lastly, I would say the biggest bummer about online shopping is that discouraging feeling when you see that the shipping and handling costs are nearly half the price of the item you were buying initially. This is many times where businesses lose out on a sale and cart abandonment occurs.
The bottom line is that online shopping is a great tool to have available, but it just always depends on what exactly you’re shopping for. Sometimes It’s worth waiting and avoiding all of the hassle of going to the brick and mortar location and other times Its an emergency. Another point to consider is how repairs are handled after a purchase is made. It’s so much easier to make a return to the local store than to ship it back to the inline retailer, that just takes too long. Brick and mortar stores will always be around for these reasons even though the popularity of e-commerce is on the rise.
The Impact of consumer reviews
Consumer reviews is one of the largest factors that contributes to a businesses or brands reputation. Almost 90% of consumers said that they read reviews for local businesses before visiting their location. That percentage is staggering, considering your first impression as a business, online to people researching you in the area. Managing your online reputation is critical to your business’s success. Being aware of your online surroundings and what satisfied, or especially Unsatisfied customers are saying about their experience with your business is so important.
Platforms like Facebook, Yelp, and Google are all examples of review platforms. Google is the most visible of all review platforms and can be seen in regular Google search results and on Google maps when someone is looking you up through the app. The listings will show all of your information and recent photos. According to Forbes, Businesses that have brick and mortar locations should keep a close on these particular reviews because Maps are usually highly influential when making a purchasing decision. Monitoring these diligently so that you maintain an exceptional reputation can be a fulltime job in itself. Negative reviews have become quite powerful in that they could result in lowered search engine ranking. Search engines will automatically rank you lower on pages like Google and Yahoo for having low ratings. Negative reviews also can cause potential customers to lose trust in your business. This is especially true when it is a close family member or friend that negatively spreads word of mouth to the people around them. It becomes a double-edged sword if they have good things to say about you. Once your business accumulates an abundance of negative reviews, it can make it extremely difficult to regain that trust, rebrand, and win customers back. That is why monitoring your efforts is so key to your success.
On the flip side, positive reviews reinforce your business and helps it to grow rapidly. You have an established reputation and trust with customers, and you can out compete other lower rated businesses in your market. Positive feedback from repeat customers will increase the chance of a prospect to choose you over a competitor. As a business, you’re always looking for ways to improve and what better way than asking your own customers directly on what you’re doing right and what can be improved. This saves you time and money on figuring out what you need to shift your efforts away from, and what you need to start putting your resources toward to receive the largest ROI. Online reviews are a convenient way for consumers to report their experience with your brand.
It’s vitally important that your business stays on top of monitoring these reviews on all of the various platforms. Starting with taking the negative reviews and making them right by getting them off of the public forum where others can see and offering those people some sort of reimbursement. Make reviewing your business an easy thing to do. If it’s a 10-step process just to give a quick 4/5 stars on your business, then nobody will ever take the time to make it to that point. The simpler the process is, the better. The money spent on making things right is infinitely worth spending on. Your reputation is the most valuable asset you possess as a company so giving that customer who had a negative experience with your business $50 is a no brainer. In a world where everyone has smartphones, online reviews are either going to attract or repel potential prospects. Placing customer satisfaction first on your priority list will directly correlate to your bottom line.
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