In today’s market, the key factor setting businesses apart in the same industry is their use of the internet for sales. Online sales, once just a bonus to in-store revenue, have become crucial for a business’s success.
Internet Use and Online Shopping Stats
As of 2011, Internet World Stats reports that 78.3% of people in the U.S. use the internet. Of these, 66% have made at least one purchase online. Globally, 30.2% of the population uses the internet, and around 500 million of these users shop online. These numbers highlight the significant impact that online sales can have on a business’s bottom line.
Online Sales vs. In-Store Sales
When a business opens an online store, it doesn’t typically shut its physical locations. Instead, it operates both in-store and online, becoming a “bricks and clicks” business. This dual approach can lead to cost savings and sales increases in several ways:
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Selling Niche Products: The internet allows businesses to reach thousands of potential buyers worldwide for niche products, transforming low-demand items into popular online purchases.
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Avoiding Expansion Costs: With the economy’s uncertainties, businesses are hesitant to open new physical locations due to the high costs. An online presence can attract additional customers without these expenses.
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Reducing Physical Locations: Some businesses choose to close physical stores not because of failure, but because they can sell more efficiently online with lower overhead costs.
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Boosting Local Sales: The internet doesn’t just connect businesses with distant customers; it can also increase local sales. A study by Leisure Trends Group found that one in three active Americans prefers online shopping to in-store, even if they live near the stores.
AVPS’s Internet Merchant Services
At AVPS, we offer internet merchant accounts that support various payment methods, including debit, credit, and checks. With over 25 years of experience in both small business and merchant services, we’re equipped to help you expand your payment options. To discover more about our services, get in touch today.
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