2018-03-27 07:43:36 Growing a Business English Discover why opening an online store alongside your brick and mortar retail store is a smart decision for today's retail businesses that... https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2018/03/Retailer-Process-Opening-Online-Store.jpg https://quickbooks.intuit.com/ca/resources/growing-business/retail-open-online-store/ Have a Retail Business? Here's Why You Need an Online Store

Have a Retail Business? Here’s Why You Need an Online Store

1 min read

These days, opening an online store to complement your brick and mortar location just makes sense. The internet gives you access to an entire world of people who would love to buy your products, not to mention your existing customers who prefer the convenience of shopping online. If you’re still on the fence, take a look at the facts.

More than half of Canadian businesses regularly buy and sell products online. With that in mind, opening an online shop is critical if you want to keep up with the competition. In 2016, roughly 84% of Canadians made online purchases, and those numbers have only continued to climb. In 2017, online sales to customers reached $43.95 billion. As you can see, online shopping isn’t going anywhere.

It’s clear that Canadians are more than a little bit interested in e-commerce, and that’s not going to change. While the physical retail store still has its place, today’s modern consumers don’t always want to leave their home just to make a purchase. Shopping is becoming less about the overall experience and more about simply receiving the product as quickly and efficiently as possible.

While the retail apocalypse may not be right around the corner, many believe that it’s bound to happen eventually. Now is the time to embrace the digital side of retail, and fortunately, it’s surprisingly easy and affordable to set up shop. Even if you don’t put your entire inventory on your online store, just establishing an online presence for your company goes a long way in generating interest in your company among both current customers and customers-to-be.

If you’re ready to get started, spend some time choosing products to sell online, and then see how it goes. There’s little risk involved because of the relatively low startup costs, and the results can be huge. Take that first step now, and continue growing your online business just like you did with your offline store.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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