Blog post by: Evan Mathu, Baer Performance Marketing Intern
In 2000, only about 300 million people in the entire world had access to the internet. Today, nearly 85 percent of people in the U.S. alone have internet in their homes. With this dramatic increase, people are increasingly likely to engage in ecommerce – that is, they are more likely to engage in buying or selling products through the internet than ever before. To frame this: Nearly 7 percent of total US GDP was produced through the digital economy, and that number is on an upward trend.
Why should businesses care? Especially for companies operating in a successful brick-and-mortar environment, this question looms: Why should we focus on the internet as a selling tool instead of in-person sales? The recent COVID-19 pandemic might shine some light on the reasons. As storefronts shuttered amid the rampant spread of COVID-19, consumers were left to find a new channel through which to buy products. The general consensus was the digital marketplace: the use of internet resources to connect buyers and sellers across the country and globe.
According to a recent survey, 75 percent of people increased their online shopping since COVID-19, and 80 percent of those people plan to continue shopping online even after a vaccine. This means the world of business is being driven toward technological advances, and very little can be done to slow those advances. Now businesses must consider their digital storefronts more carefully than ever, as they can either be a roadmap to success, or the stumbling block precluding their downfall.
Just as in brick-and-mortar experiences, customers enter the digital marketplace looking for a clean, well-maintained and easy-to-use facility. Consumers will make assumptions about a company based upon their website and storefront – if it is neat and orderly, they are more likely to be converted into sales. If it is archaic and difficult to use, customers are more likely to be dissatisfied and flee to a competitor. A digital storefront is still a storefront, and it remains one of the most important marketing tools.
In today’s online era, your business’s website is one of your biggest assets and is capable of expanding your sales and your reputation. Make sure it’s something that will leave your customers satisfied and buzzing about your product! Contact us @baerpm or through our website; we’d love to help you polish up your digital storefront!
Sources
Conca, James. “The Coronavirus Accelerates Online’s Destruction Of Brick & Mortar Shopping.” Forbes, Forbes Magazine, 21 Aug. 2020, www.forbes.com/sites/jamesconca/2020/08/21/the-coronavirus-accelerates-onlines-destruction-of-brick–mortar-shopping/#b336c5347348.
“The Importance of a Quality Website.” Prolific Marketing, 23 June 2013, prolificmarketing.org/the-importance-of-a-quality-website/#:~:text=A%20quality%20website%20is%20important%20for%20a%20business.&text=When%20they%20search%20for%20something,impression%20you%20give%20potential%20customers.
Jelinek, Keith. “What COVID-19 Means for Brick-and-Mortar Retail Decline: Keith Jelinek: ThinkSet – Strategic Business Consulting News and Analysis from BRG.” ThinkSet, Strategic Business Consulting News and Analysis from BRG | ThinkSet, 14 May 2020, thinksetmag.com/insights/covid-brick-mortar-retail.
