Why The Time For eCommerce Is Now
The time for ecommerce is now.
The market is increasingly trending towards ecommerce and away from brick and mortar retail stores. 51 percent of Americans preferring ecommerce, and 49 percent preferring heading into an actual store. Furthermore, 67 percent of millennials prefer shopping online over offline.
Many ecommerce startups are now foregoing Wholesale strategy altogether and going straight to Direct-to-Consumer due to the availability provided by Digital Marketing. Even if you have a Wholesale strategy, one would be leaving a lot of money on the table by not also developing an ecommerce business model.
The 3 biggest benefits to having a direct-to-consumer ecommerce business model include:
1. Much higher margins. Most retailers distributors eat into a large portion of your product margins. By owning the product distribution, you retain full margins which drastically adds to your bottom line.
2. Brand equity ownership. There is very little brand building with Wholesale relationships. However, with ecommerce, you control the brand end-to-end and can therefore build and leverage your products' brand equity for exponential sales.
3. Social media currency to leverage much better Wholesale terms. You will have far better negotiation terms with distributors the more social media currency you own. Social currency comes from Social Media follows and engagements, which is a result of building your brand, increasing consumer awareness and optimizing direct-to-consumer sales on your website.
Tamara Ashworth is an Award Winning Marketer, winning First Place in the Procter & Gamble Brand Strategy Competition. Featured in Entrepreneur.com and published in Thrive Global, Tamara comes with 12 years experience of high-level Business, Marketing and Strategy work globally. Tamara has an MBA from the University of Notre Dame and has previous experience in Finance. This unique combination allows Tamara to view Marketing as an integrated and Strategic investment that requires maximum return in order to scale a business successfully. After founding Ashworth Strategy, she focuses the business on helping companies who sell Consumer Products scale with the latest and most advanced ecommerce Marketing strategies.
Click here now if you are ready to increase your customer acquisition and scale into a successful ecommerce business.