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Retail Store Vs. an Online Store

The Pros & Cons

With the popularity of online shopping, someone with an idea for a new retail business no longer has to open a storefront. That does not mean, however, that there is no longer a need for retail stores or that all business ideas work well online.

Costs

In general, opening a business as an online store is much cheaper than a retail storefront. Unlike a retail storefront, there is no rent to pay or other utility bills directly related to the store, except for web hosting and technical support. You do not have to decorate the inside of the store, purchase inside and outside signage or display units. Since you can manage the work yourself, you do not have to hire additional employees.

Inventory

A study completed by the California Institute of Technology found that consumers pay significantly more for products they can view in person. For high-value items such as designer clothing, antiques, jewelry, furniture and cars, a retail storefront will appeal more to customers and generate a higher profit margin on individual items.

Competition

Anyone who wants to open a business should examine the competition before jumping into the process. With an online business, the amount of instant competition is much greater than with a retail storefront. When you want to open a retail storefront, you can easily survey an area and determine what other stores are selling the products you want to offer or choose to open in a location where those stores do no exist.

Marketing

Building a customer base is one of the most-essential components of starting a successful retail business, online or offline. With a retail store, the potential customer base is limited to the surrounding area. Online, the customer base is vast. Once you open up a retail store, your options for attracting new customers are limited.

Source: smallbusiness

About LaraNet: We are a web design firm focused to help you to grow your business and communicate with your customers and prospects using two simple but powerful tools: 1) Interactive Website and 2) Internet Marketing Strategy on social networks like Facebook, YouTube, Twitter, LinkedIn, etc… Whether you want to work with just a web page, or launch or improve your presence on Facebook, Google+, LinkedIn or communicate with your customers through newsletters, or improve the location of your business in the search engines through Search Engine Optimization, or start marketing your products or services online, in LaraNet we can help you.

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