Entrepreneurship 101: 10 Reasons to Open a Physical Store

In 2019, online retail overtook brick and mortar shops in sales for the first time ever. We’re always hearing about how e-commerce is the future.

And yet, you’d be wrong to think that brick and mortar stores are dead. There are many reasons why you need to set up a physical store.

Do you want to discover more reasons why you need to establish a physical store? Check out the below!

1. Quicker and Easier Than Online

Shopping from your couch can be more convenient. And yet, sometimes, going to a physical store can be faster.

If you need the product straight away, going to a local shop can be much faster than waiting overnight for the delivery. 

It could even be an emergency! You don’t want to spend time browsing different options online. You just need to make the purchase now.

Some customers also don’t want to spend money on shipping costs. Give them the chance to come to your physical store and pick the product up themselves. 

2. Chance to Try Before Buying

How does the perfume smell? How does the jacket feel? How does the chocolate taste?

There is only so much you can know from a picture of a product online. Pictures may say a thousand words. But, when you’re in a physical store, you know much more about what you’re about to purchase.

That’s why in your brick and mortar store, ensure that you provide your customers with the opportunity to experiment and experience your products themselves.

Have plenty on display in your store. If you sell a product which customers may want to try out first, make sure they can do so.

You could also train your staff to point out a product’s features for customers or demonstrate how the product works. 

3. Develop Trust With Your Customers

We’re always told that online shopping is getting increasingly popular. But, people still like to go inside a store to make a purchase.

You may be shocked to hear that almost two-thirds of shoppers say they would prefer to shop in a physical store compared with online.

This could be because some customers don’t always trust eCommerce websites. They worry about how to distinguish between legitimate companies and con artists.

If your customers have already visited your physical store, they’re going to trust that you’re the “real deal.”

4. Deliver a Personalized Customer Experience

Around nine in ten U.S. consumers say that they wouldn’t return to a business if they had a poor experience three or fewer times.

There are always limitations to creating a personalized customer experience for your clients via the internet.

But, when you have a physical store, you can make your store an amazing place to shop and browse. 

Design your shop consistently with your brand. Ensure that you have plenty of natural light. Encourage customers with enticing window displays.

You can also do the little extras to get them to buy something. Add Wifi for customers to use or offer them a cup of coffee while they browse.

5. Another Space to Advertise

The front of your physical store also serves as an advert for your business.

As a small business, you need all the help you can get to promote your company. Take advantage of the front of your store with an eye-catching sign and logo. 

6. Inspire Your Customers

People don’t only shop when they really need something. You’ll also get customers to drop by your physical store who are looking to be inspired. This is your chance to make a good impression.

Even if customers don’t buy anything from your store when they enter for the first time. They’ll remember you next time when they search for a similar product online.

7. You Can Be Involved in the Community

When you’re an internet company, you’re not based in the community. You could even have an office build out in the community without being noticed.

But, when you establish a physical store, you’ll be part of the local community in a meaningful way. This will allow you to get involved in local events.

Is there are a local market to support local and independent businesses? You’re invited to come along to sell your products.

8. More Impulse Buys in Your Physical Store

People don’t make too many impulses buys on the internet. It’s not always easy to add another smaller item at the end of your bigger purchase.

And yet, when you’re in a physical store, your senses are vulnerable. You can easily be convinced to buy something at the checkout. 

When you have a physical store, you can encourage your regular customers to spend more when they visit your shop.

9. Accept a Variety of Payments

While many people prefer to pay for products and services via card payment or digital payments, some people want to pay cash only.

If you have an internet business, you won’t be able to offer people a variety of payment methods you want to.

When you have a physical store, it’s easy to give people a wide range of options for how they pay. 

10. Encourages Goodwill From Customers

When you’re a brick and mortar independent store, you’ll be able to encourage goodwill from customers for your business.

Many people would prefer to shop with a small independent than a multinational giant company. When you’re online, you cannot show that you’re different.

But, when you have a physical store, you can jump on the trend of shopping local. You could even market yourself as a local store. 

Why You Should Open a Physical Store?

You may think that nowadays everything is online. But, there are many reasons why you should still consider opening a physical store for your business.

From marketing to your company as a local business to allow customers to test your products first, you’ll be able to grow your company with a physical store.

Do you want to discover more about local business advice? Check out our website for much more!

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