First and foremost, if your business is not online at all, you are out of the equation. Entirely. Over 3.2 Billion people have access to the internet which is nearly half of the world’s population. In the more developing countries, over 90% of the population have access to the internet which is why it is vital for you to be online.
Let’s discuss the positives of your business being on the internet and negatives of your business not having any online presence.
First and foremost, your business will miss out on 3.2 B potential customers that have access to the internet. If your business is in retail, you don’t even come close to 0.00001% of this customer base.
It is much harder to build consumer loyalty as you are unable to constantly remind your customers that you still exist.
Your best shot of advertising is word of mouth which is extremely difficult if you are just starting out as a retailer because newspapers, magazines and other promotional platforms in your local area no longer work for the younger demographics.
People will quickly substitute you for someone else that offers them a better price which is not necessarily the case if you have an online presence.
There are so many benefits, we can go on forever. To summarise, being online is extremely important if you want to scale your business and have an opportunity to generate revenue in the 10000+% compared to what you generate right now in retail.
Online is where the attention is. You are either visible to the market or not. The decision is yours.