There is a moment that comes in every one of the retailer’s minds before starting a new business. Whether to start a traditional offline business the Brick-and-Mortar kind or go as per the latest trend and start an online business or just build a combination of the two. To make the best possible decision you must need to understand all the pros and cons of both these business models. So, an offline business is a business outlet with one physical location or more for example the shop you’ll find in your local shopping center. Whereas an online business is the purchase and sales of goods and services or the transfer of funds or data via an electronic network mainly the internet.
So that you can understand it better, we have drawn a side-by-side comparison of the two.
CUSTOMER REACH
There’s a limited customer reach for an offline business, whereas the customer reaching online business is global.
COST OF SETUP
The cost setup in an offline business is much more as compared to an online business.
AVAILABILITYAVAILABILITY
So you know the online business is available for you 24/7, but you get limited time for an offline one.
PROMOTION AND MARKETING
A broad range of promotion and marketing features are available for an online business. Whereas the marketing possibilities are limited in offline business.
BUSINESS EXPANSION
It reaches a local horizon regarding the expansion in offline business however, for an online business, it’s worldwide.
MULTI-CHANNEL SELLING
In an online business, you can sell on multiple sales channels like Amazon, eBay, Walmart, and many more but you don’t have this option in offline one.
SCALABILITY
That’s pretty obvious right, less time and effort are required in online as compared to offline.
COMPETITIVENESS
The offline business witness less competition next to the online.
BRAND VISIBILITY AND DEVELOPMENT
The perks of an online business come with the global visibility and potential to become a brand in just a few months
MAINTENANCE
High-cost infrastructure maintenance is involved in offline business, in contrast with the online business which required much lesser cost management.
Looking at the above comparison, it’s quite safe to conclude that among offline and online business models. Online business has an upper hand as it includes multiple additional benefits. It’s better to move your store online and don’t miss out on any additional benefits.
So, what are you waiting for? Rejaul Islam is at your service. If you need an eCommerce website to start an online business, feel free to message me.
