Online Store Vs Offline Store In Nigeria – What You Should Know Before You Start Your Business

Online Store Vs Offline Store In Nigeria – What You Should Know Before You Start Your Business

Is there a battle between the online store and the offline store in Nigeria? Is the offline threat under threat? What are the things that can help grow my offline store? Have you been thinking about all these and more? Truth be told, there seems to be an untold battle between the online and offline stores. 

But What Are An Online Store And An Offline Store?

An online store is a website or platform where interested customers can pick from a variety of products the site offers. An online store shows a collection of maybe a particular brand or a variety of goods and services available to the public, where orders are being made and goods delivered at the end of each transaction.

You don’t have to be in the store to make a purchase physically. All you have to do is surf the internet, pick your desired product and order. This is seen as a store for the 21st-century shoppers.

An offline store, also known as brick and mortar or a traditional store, is a physical store where someone displaces their available products for an interested customer to pick from. In this store, unlike in an online store, customers get to inspect products, get assistance from sales personnel and interact personally with products. Now to the big question: Are Traditional Stores Under A Threat?

Are Traditional Stores Under A Threat

Undoubtedly, traditional stores are under threat as the competition to create value just becomes tougher. Because of the fact that the world has evolved globally and everything is now online, this has taken a toll on offline businesses as some were shut down while others had to take drastic steps of blending online and offline businesses together.

For instance, the print media. many print organisations now have print and online versions of their newspaper. They have successfully transcended their challenges without necessarily shutting down. Although some did shut down, others went digital.

And it is without doubt that they thrive more online as they have an increasing number of customers. The online market is making waves, so the traditional store should adopt that. 

Although the offline store has to create more innovative ways of standing out, a traditional store still has certain benefits which can be attributed to it. 

Benefits Of A Traditional Store

Although one may think it’s becoming obsolete, there are still many benefits of a traditional store. Those attributes include the following:

1. Reach customers who don’t shop online: In most developing countries, not everyone is one, so the retail store serves a greater number of people in such places than those online.
2. Deliver better customer experience: With constant contact with customers, you tend to become more conversant with what your customers like and go for, unlike in the online store. 
3. Develop a relationship: When interacting with customers physically, you get to build trust and develop a relationship with your customers, which keeps them loyal to your store. 

Why should A Traditional Store Consider Going Online?

There are a million and one reasons why a traditional store owner should consider opening an online store. The reasons include the following:

1. Collect Sales Data To Serve Customers Better: You get to collect data on what people want more and go for more; that way, you have a better way of serving them next time.
2. You Are Open To The World: Because everything has gone digital, the world gets to know and see your brand. People get to be more aware of the things you sell and possibly order from you. 
3. Round Clock Sales: For some traditional stores, there are periods when sales are made more, but in online stores, sales are made at any time. 
4. Minimize Operational Cost: Setting up an online store costs less than that of an offline store, thereby minimizing unnecessary expenses for you.
5. Maximize Customer Satisfaction: Customers love it when they are given a variety of options to pick from, so strong branding which provides a variety of products and moods of payment can help you grow and be better.

Essential To Help Build Your Online Business

There are certain things you need to have in mind to help grow your online business, and those things include:

1. Idea
2. Mission
3. Target Audience
4. Business name and slogan

1. Idea: There has to be a particular niche which you would want to go for that you are comfortable with. There can’t be a business plan without being a service you want to provide. And remember, ideas die when they are not executed. so fasten your seatbelt and think. Think of new innovative thinks that can make your business outstanding amongst the rest. Think of new business ideas. Jot them down and plan towards them.

2. Mission: You have your features as a person which make you outstanding, and so should your business. There are certain qualities which your business should be identified with for it to be different. So think of what you can offer differently to the market and work on creatively making it a known fact about your business. 

3. Target Audience: You have to know the kind of audience you want, as it would guide your tone, sales, content creation, and practically everything that has to do with your business. It makes you conscious of what you make and how you make them. It guides the flow and pace of the business you want to start. 

4. Business Name: Your business is fueled with power when recognised by a name which sets it apart from other brands. So pick a unique name that applies only to your business. Although many businesses may have your intended name, be creative with your brand name, as it sets you apart. 

It’s not all about whether a business is online or online. It’s about the innovative and creative plans which make your brand recognised. Having an online store has proven to be one of the fastest ways to increase awareness and a larger customer base, but they still lack a certain level of experience. 

For you who may want to go online with your business, it is an exceptional idea, and for traditional stores that haven’t started, it’s a chance to start now.

Having been through this article, we hope that it was helpful and educative. Till Next Time.