What are Brick & Mortars?
Brick & mortars are traditional retail stores that have a physical location. These shops can either be a standalone or be a part of a larger shopping mall or commercial complex. They usually serve local and regional markets. The customers can visit such brick and mortar stores to browse and purchase different products.
In order to attract customers to their stores they offer product demonstrations and in-store promotions. The inventory that is up for sale is maintained in the store and organized for better display. It relies on its staff to assist customers and handle financial transactions.
Despite the rise of e-commerce, brick-and-mortars remain relevant as they offer tangible shopping experiences, personal interactions, and instant gratification.
Advantages & Disadvantages of a Brick & Mortar
Advantages
Tangible Experience
Customers can see and try out products before making a purchase. This improves product satisfaction. And the customers are less likely to return the purchased product.
Personal Interaction
When customers visit a walk-in brick-and-mortar store, the staff can offer them personalized advice. Many a times customers have queries about a product or a service. Such issues are directly addressed when they visit a store so they enjoy a more engaging shopping experience.
Brand Experience
Physical stores can create a unique shopping environment and brand experience. This way they enhance customer loyalty and attract foot traffic.
Local Presence
Brick-and-mortar stores can build strong community ties. Since they have a physical location they are well connected with the locals who commonly visit the store. This helps them understand local preferences. With this knowledge they can capitalize on local events or trends. This becomes impossible for a store that only operates online.
Disadvantages
Cannot operate 24/7
Brick-and-mortars are usually open during specific hours. So there are chances that your customer’s schedule might not align with your store opening hours. Online stores on the other hand are available 24/7.
Difficult to compete with online pricing
Online retailers benefit from lower operating costs. This allows them to offer competitive pricing and frequent promotions. Physical stores often fall behind because they can’t match these deals.
Difficult to maintain inventory
Physical stores have limited space for displaying their products. This can lead to a smaller inventory compared to online stores with virtual shelves.
Limited reach
A physical store typically serves a local or regional customer base, while online stores can reach a global audience. This limits the growth of a brick-and-mortar store.
Types of Brick & Mortar stores that need to go online?
Many brick-and-mortar stores are rapidly moving online. This helps them stay competitive and meet customer expectations. However, there are some stores that need to go online more than others. Let’s check them out:
1. Specialty Retail Stores
Kinds of business: Independent bookstores, niche hobby shops, or boutique clothing stores.
You need to go online if you own such shops. Here’s why?
+ You cater to a specific audience solving their unique issues.
+ An online store can help you reach the same audience beyond your local area.
+ You can attract more people to your shop or sell your goods online if you’ve greater visibility in the digital world.
2. Local Artisans and Craft Stores
Kinds of business: Handmade jewelry shops, furniture shops, local art galleries
You offer something unique to your culture and field of work. Your potential for growth is immense, but this is possible only when you reach the right kind of customers across different platforms. With an online store, you have the opportunity to showcase your creations to a global audience and expand your market reach. Additionally, with an online store or e-commerce platforms such as Amazon, eBay, or AliExpress, you can set up a virtual gallery for your customers to browse.
4. Home Improvement and Decor Stores
Kinds of business: Boutiques, Home decor shops, Custom kitchen design services
Home improvement and decor are aspirational. Sales are driven more by aesthetics and premium quality than by need. Online platforms are a boon for such businesses, as they allow you to showcase your product range without needing to set it up physically or worry about your expensive items wearing out. Additionally, you can offer virtual consultations, newsletters, and other types of content that help build a loyal customer base. You can reach customers outside your immediate locality and compete with larger, online-only retailers by offering both walk-ins and online buying opportunities.
5. Local Food and Beverage Shops
Kinds of business: Gourmet food stores, artisanal bakeries or local wineries
Traditionally, you rely on foot traffic for your sales. However, by building or subscribing to an e-commerce platform, you can now offer delivery options to your consumers. This will attract more customers since you’re providing both quality and convenience.
6. Fashion and Apparel Stores
Kinds of business: Local boutiques, custom tailors, or vintage clothing stores.
Ignoring online marketing is like opening a business but not telling anyone. That’s what KB Marketing Agency says about online marketing. As a fashion retailer, you need an online presence more than any other store. Why, you ask? Because to sell your designs you need to showcase your inventory, attract fashion enthusiasts from various locations, and leverage social media to drive traffic to your online store. And if you do everything the right way you can also invite your customers to visit your physical store, which increases credibility.
Understand that when you move online, you don’t just expand your customer reach; you also step into a new era of how customers shop and vendors sell. You adapt to the ways modern customers prefer to make purchases, improve the visibility of your business, increase your sales, and remain competitive in this day and age.
8 steps to set up an online store as a Brick & Mortar Store.
1. Buy a domain
To set up an online store, you first need to purchase a domain name. This domain name serves as your store’s digital address, much like a physical location does for a brick-and-mortar store. It also helps you gain search engine visibility. You can use various domain registration services, such as GoDaddy, Namecheap, or Google Domains, to purchase and secure your domain name.
2. Get a Hosting
Once you purchase a domain name, you need a web hosting service. This is where you store your website’s files so that your customers can access them online. Choose a hosting provider that offers reliable performance, security, and appropriate pricing. Some popular hosting services include Bluehost, SiteGround, and HostGator. Make sure that your hosting service provides a Content Management System (CMS) like WordPress or integrates with e-commerce platforms such as Shopify or WooCommerce. Above all choose a mobile-friendly platform since almost 91% of online shoppers use mobile to make their purchases.
3. Set up a Payment Method
After you make a sale on your online store, you will need a payment gateway to process the transaction. A payment gateway handles all the financial transactions between your customers and your bank. You can use payment gateways such as PayPal, Stripe, or Square, as they are secure and credible platforms with millions of users. Once you choose a platform that aligns with your needs, create a merchant account and integrate it with your e-commerce platform.
4. Connect to Warehouse & Inventory management
To run an online store successfully, you need an efficient inventory management system. You can integrate your e-commerce store with a warehouse management system (WMS) to track your inventory levels and manage your orders. Platforms like ShipStation, TradeGecko, or Zoho Inventory can help you sync your online orders with your physical inventory. This integration helps you maintain stock levels for future deliveries and reduces the risk of overselling or stockouts.
5. Integrate a POS system
You can set up a seamless connection between your physical and digital channels with a Point of Sale (POS) system. It syncs your inventory, sales data, and customer information across both in-store and online shops. The system helps you maintain consistent stock levels and manage your customer experience. Some commonly used POS systems include BLDON, Square, Lightspeed, and Clover. You can sign up for a free trial with any of them.
6. Set up Shipping methods
You have successfully landed an order. What do you need to do next? Ship it to your customer within the delivery time frame and ensure it is delivered properly. For that, you need to build a proper shipping strategy, including the carriers you’ll use, shipping rates, and delivery time. UPS, FedEx, and USPS are some commonly used carriers that have established themselves in the shipping field. There are many e-commerce platforms, such as Amazon and Shopify, that offer built-in shipping integrations or plugins that make the process simple.
In order to make it easy for customers to place an order, offer them multiple shipping options, such as standard, expedited, and free shipping. Make sure that your shipping policies are clear and transparent.
7. Set up Online Marketing
You have your website ready; now you need customers. How do you do that? By building a robust online marketing strategy. Start by optimizing your website for search engines. Work on your on-page and off-page SEO to make sure it appears in search results. Additionally, you can use Google Analytics to track your website’s performance.
Another way to bring traffic to your website is through social media platforms such as Facebook, Instagram, and Twitter. You can run targeted ad campaigns using Google Ads or social media ads to reach people who have not discovered you yet. Then, you can reach out to those who show interest in your campaign by asking for their email addresses and contact information. You can then use email marketing to promote special offers, new product launches, and any other updates about your store.
8. Hire people to maintain your online presence
Just as you need a well-trained staff to manage your brick-and-mortar store, you need a set of experts to keep your online store up and running. You can either hire them full-time or as freelancers, depending on your requirements. For an online store, you will typically need a digital marketer, an SEO specialist, a web developer, and a customer service representative.
+ A digital marketer helps you with content creation, advertising, and social media management.
+ An SEO specialist works to optimize your site for search engines.
+ A web developer handles any technical issues with the website.
+ A customer service representative assists with queries and issues your customers may have.
Conclusion
The retail landscape is changing. Brick-and-mortars are moving online to adapt to the competitive market. While there are many advantages to owning a physical store, expanding your platform by setting up an online store offers opportunities for growth. It helps you attract a broader audience by improving visibility.
There are many things you need to take care of to set up an online store. In this blog, we have listed 8 necessary steps to establish an e-commerce platform. Read the blog and follow the steps mentioned to embrace the future of retail.
