With the rise of online businesses, the thought that there is no scope for the usual offline business or brick and mortar businesses to succeed. This has led to people looking forward to fit in the already crowded online marketplace while completely ignoring the offline business opportunities that knock on their door.
Take an example of bookstores. My city, though it is now getting crowded with malls and urban population, doesn’t have a proper bookstore. Yes, there is no place where you can just pick up a novel, go through a couple of pages and buy the book. Even though the market of book readers is huge in the city, people think an online bookstore is a better idea.
This is a big folly. If only people could understand that rise of online marketplace doesn’t mean the fall of offline business. And that’s why in this article, I have some arguments on why your offline business would work better than an online one.
1. The reality of the so-called successful online giants:
Being from India, Flipkart, Snapdeal etc are the biggest online giants dealing with retail business. While people get wowed by the number of sales they make and the kind of funding they get, no one considers talking about the ‘profits’. With lots of funds backing them up, these giants are selling at an exorbitantly low rates resulting in loss with each sale.
They don’t mind it because they think they’re making a base and have enough funds to keep running. But one day they would have to make a shift from a loss generating to a profit generating business. That’s when prices will go high and the consumers would stop running behind such places because of “good deals”.
So, if you’re underestimating your offline business ideas because you think you can’t provide prices as low as theirs, think again! Think about the long run.
No doubt, online stores has their perks but they can never bring the touch and feel factor in their business model. That is something which still matters a lot. Customers want to see and experience the product before they buy it. And that’s why millions of customers still walk into brick and mortar stores instead of buying products online.
3. More sustainable business model:
Offline business runs on a much more sustainable business model. A low cost product price offering cannot stay for long as I mentioned in the first point. This means online businesses aren’t there for the long run. They would become unreliable while offline businesses would thrive as always.
There are consumers who would prefer to buy from the original brand’s stores instead of buying from an online marketplace. This brand loyalty is a major factor in driving customers away from online stores and sending into your offline stores. And this factor can never reduce. It will increase with the growth of respective brands and help your business thrive.
5. Human behaviour:
Because of the typical human behaviour which tags man as a “social animal”, people would still prefer visiting a physical store, experience the product and then buy. Classy interiors, friendly customer service staff, good sales experiences, free home delivery and attractive offers can help you exploit this side of humans and turn that into sales through your online business.
I have given you five well research and universally acceptable reasons for why your offline business can be a greater success than an online business. What would you choose now? Think carefully before making your decisions.