Sunday 15 October 2017

Challenging The Myth - Traders Can’t Make Money Online

The debate over whether traders need to establish an online presence has been going on for years. While the overall share of online retailing still hangs around 10% of total retail sales the argument for an online presence for humble market traders has been difficult to sustain but that is all changing.

Rapid Growth - all categories of retailing are recording some pretty amazing growth figures for online sales. There is little doubt that consumers are embracing the convenience of online shopping. In a rare show of confidence, Walmart have announced that they expect next years online sales to grow by 40%. When a mainstream retailer predicts that growth you can be confident it says something about mainstream consumer habits.

Even 10% Is Significant - imagine getting a 10% boost in sales every week for a little website maintenance which these days you can do from your stall during quiet times. Using your mobile to add products to your website beats the hell out of playing games. And if retail trends are any guide, the potential for increasing sales seems guaranteed.
As one of our Trader Representatives said this week - traders need to find additional sources of income as we work our way through the retail revolution. It is all the little income add-ons that will determine survival for many traders.

A Natural Integration - one of our traders who has embraced online (in clothing) says that he now knows what retail commentators mean when they talk about “seamless integration” between bricks’n’mortar and online. It is not one or the other, but a combination of both sales sources that characterises his relationship with customers. More and more of his online customers are visiting his stall when they come to Melbourne. The secret is to be available either online or at your stall when the customer decides to buy.

Of course this might all be great advice but if your technology skills are limited where the hell do you start? The answer is that the marketing team at QVM is a good place to start. They can point you in the right direction and offer assistance. 

Have Your Say - click here.