“Once upon a time, you had to be big to export. Transnationals and big companies with access to international marketing and logistics networks had the inherent edge. If you’re a small business, you had to content yourself with selling domestically, mainly to your immediate community and surrounding areas. With limited reach, there wasn’t much scope for growth in a domestic market hampered by relatively low purchasing power. As such, you were likely to remain small, and stories of small enterprises transforming into medium ones, and medium ones expanding into large ones, were extremely rare.”
As I read on this article in Inquirer, it just came to my mind to add some of the positive and personal thoughts and opinion about this article.
I for sure firmly agrees and believe that moving forward in the future, some endeavour and most of future small business or SMEs, the idea of having your presence online either through your own site or tapping your business activity in any way or form from the different social media platform and through an eCommerce site will determine the outcome and success of it, as well as in any other endeavours, or one can be left behind by other competitors which they will likely be engage or will have the ability to utilize such strategy.
In Singapore, there are already some news of physical rental retail shops that has steadily decline and a growing numbers of those closing physical shops both in popular, big and small malls. As people are more connected, a lot of apps and site gives some edge advantage and thus help ordinary people to sell their stuff online. While for those that are really serious sellers and are really into doing serious business, who are tapping the said opportunity to earn on the side, using such strategy of having their own virtual retail shops gives them a larger chance and rate of success.
Here is why conducting your selling online is an advantage.
- No need to rent for a physical shop
- No physical shop means no further expenses for electricity, utility expenses and maintenance.
- No need for physical inventories for display or stocks.
- Having a fix physical shop means you are only limited to that location and area, which is not an issue anymore as such you can sell wherever you are.
- No need to be physically always to be on your physical shop.
- You have your own time to conduct your affairs when selling online.
- You can be at your own home while doing the online business.
- Does not matter if it’s an online retail shop like business or an any other online business, having your time to be with your family at the very comfort of your home is indeed one of the best benefit of this.
- And so many more to mention
Thus the way we conduct some business are truly evolving, and the only thing I know that requires some physical shops to sell will be most likely those in the Food and Beverage business, as food can not be virtual : ).
So if you have some sort of business or maybe thinking of a future business other than a Food and Beverage (F&B), you might want to think of having your online strategy or exploring this opportunity as well.