Is The Investment In An Online Store Worth It?

September 2, 2019

Owning and operating a business can be expensive, especially when you’re just starting out and spending money you have yet to recuperate. Because of that, you likely question each business expense, and try to find ways to cut costs whenever possible. Opening an online store is another one of those expenses. Unless you’re a well-trained web developer, you may have to pay a third party to build the website and online store. So is it worth it? Consider the following.

Canadians are Increasingly Shopping Online

If you thought online shopping was just a trend that would slowly disappear, you may be disappointed to find out that Canadians are increasingly shopping online, with the average Canadian household spending an estimated $2,748 a year online. This equates to nearly 12 per cent of all Canadian household dollars being spent online, in categories like apparel, health and beauty products, and food and grocery expenses.

With this in mind, the investment in an online store is the only way to be a part of these online shopping habits. And, as more and more Canadians turn to online shopping in the future, you’ll want your store to make their list of go-to sites.

An Online Store Has Fewer Operating Costs

Though an online store may initially seem like a steep expense, once it’s up-and-running the operating costs can be much lower than that of a brick and mortar store. An online store doesn’t require as many employees, doesn’t have utility bills, it doesn’t even have rent payments. Though there are costs to owning a website domain and processing online payments, an online store is likely a much more economical addition to a physical store.

An Online Store is an Additional Revenue Stream

Investing in an online store can be a profitable addition to your revenue stream, like opening a second location that can be reached by all customers, not just those in the physical area of your store.  Once the store is up and running, you can share your products or services with others, and tap into the potential sales revenue of converting curious online window shoppers into customers. The added benefit of an online store is that potential customers can find your business on their computer or mobile phone at home, even if that is halfway across the globe. For this reason alone, it’s a good idea to consider the investment into an online store.

If you’re interested in learning more about online stores, make sure to check out our articles Ecommerce Solutions You Can Implement On Your Own and Simple Ways Retail Stores Can Capitalize on Online Payment Processing.

The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed

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