It is true that almost every business is now going online. However, brick-and-mortar businesses still have their own place in the society. In fact, not all individuals are ready for the online shopping and non-cash payment system. E-commerce keeps growing, but offline businesses still can compete with online entity. They will not disappear as long as they are able to adapt.
Adaptations that Brick-and-Mortar Businesses Need
The following are some adaptations that brick-and-mortar businesses need to make if they are to compete with their online counterparts, as cited by Jia Wertz on Forbes:
Enter the Online Battleground
Offline sales still dominate the total retail sales in the United States. The number is projected to grow every year. So, how about the brick-and-mortar businesses? How is their future? Offline businesses still dominate the economic power currently, but they are losing it gradually. E-commerce is just like a battleground, where both online and offline businesses can participate.
To compete with their online counterparts, the offline businesses have no choice but to enter the battleground. Studies show that only 28% of small businesses use online tools to sell their products. In other words, majority of online businesses miss out the power of internet in reaching potential customers. It will not take them long to realize the limited potential of selling products merely on offline bases.
There is no mistake with the brick-and-mortar businesses. However, it is the time for you to begin diversifying the marketing strategies. You have to consider incorporating online efforts like dropshipping. You can begin by recruiting dropshippers and resellers who can help sell your products on merit basis. They do not have to hold inventory. It is not difficult to recruit dropshippers as long as you offer interesting profit chances for them.
Offer Additional Values
The customers tend to pay more when shopping online as they have to pay shipping costs. That is why some online stores offer free shipping services for certain amount of purchase. Brick-and-mortar businesses can also use a similar strategy, of course, with different approach. For instance:
- You can offer in-store extras like door prizes, discounts, or exclusives. Invite them to engage in your store by using online marketing strategies.
- You can offer free delivery service for repeated orders. Some offline stores even allow the customers to make by-phone orders for products they have bought before. This benefits the customers since they do not have to visit your store to make a purchase.
Local Pick-Up Services
Imagine how happy the customers are when they can buy your products at the nearest place possible. Studies show that such a service contributes much for the customers in making a purchasing decision. You get the benefits too. You can get the customers in the door and have them make the purchase in store.
Walmart, for instance, offer an online tool to help the customers make offline purchase. The customers can check the stock availability at the nearest store before visiting it. This system prevents the customers from making useless visits if the products they are looking for are not available.
Do not miss the next strategies on how Brick-and-mortar businesses can compete with their online counterparts on the next post.