The increase of internet use in Ghana has given rise to more online businesses. Research has found that e-commerce will grow by 56% from 2015 to 2020, while traditional markets will grow by only 2% within the same five-year period. Also, the graduate unemployment rate stands at 90% after one year of graduating, so it’s no surprise why more people are starting their own e-commerce business instead.
Why should SMBs start operating online?
There are four reasons why small- and medium-sized businesses (SMBs) should operate online instead of a brick-and-mortar store.
1. Save money
Most SMBs operate on a limited budget allocated for rental fees, salaries, logistics costs, and other overhead expenses. By moving your business online, you can manage incoming orders, confirm billing transactions, and run your company from your home. Customers' concerns are also addressed all at once, reducing labor costs.
2. Convenience
Today’s busy society demands services and products that match their fast-paced lifestyle, and e-commerce fulfills this need. Customers can find and purchase everything online — from toiletries and clothes to electronics and cars — at any time. So if you forgot to buy a cake for your mom’s birthday, e-commerce lets you select and order one with a few clicks. You only need a valid credit or debit card, mobile wallet, or cash (for “cash on delivery” option), and internet connection to make a successful transaction.
3. Accessibility
One of the requirements for running a successful brick-and-mortar store is a strategic location. To get high sales and profit, your store needs to be reachable with high foot traffic. However, SMBs can’t afford spending thousands of cedi for prime locations. E-commerce lets you display your store globally at a fraction of the cost. All you need is a website where customers can find your store and items for sale.
4. Facilitate comparison shopping
Buyers like to compare the price and quality of a product across different sellers before making a purchase. Online shopping saves time and energy by letting customers view hundreds or thousands of the same item in one sitting. They can also read product reviews from past and recent buyers to help them decide, ensuring they’re getting the best value for their money. So it’s no surprise to see more and more buyers shop on e-commerce sites instead of traditional shops.
How should I grow my business through e-commerce?
It’s important to carefully strategize and plan your online business before you start making any decisions. Market research lets you uncover competitors, discover untapped markets, and decide on the kind of product you’re going to sell in your store. Then, you need to plan manufacturing and logistics — handmade, factory-made, wholesale, or drop-shipping.
After everything is set up, you should build an attractive, responsive, user-friendly, and secure e-commerce website.
- Responsive design – Your website should be optimized for computers, tablets, and smartphones, making it easy to rank high on Google search results and for buyers to find and navigate it.
- User-friendly interface – Features such as clear payment options, product display, and search function let buyers complete transactions smoothly and quickly.
- Secure transactions – Installing SSL or TLS certificates on your website and integrating your shopping cart with a secure payment module protect your customers’ financial and personal identity online.
Zentech I.T Solutions’ e-commerce experts handle all aspects of website development, from design to maintenance. We also communicate with your team regularly to make sure your new e-store meets your requirements and needs. If you’re interested in getting your own e-commerce website, call us or send us a message today.
