The Shifting Paradigm of Retail
How to Survive and Thrive in Today’s Economy
Before COVID, the omnichannel shopping experience for retailers gained momentum, providing the ability for brands to offer their goods and services both on and offline. During the global pandemic, the importance of having an e-commerce platform has shifted from a "nice to have" to a "need to have." With more than 75% of people shopping online at least once a month, the digital space is now a crucial component of any retail business, offering the opportunity for increased revenue, brand visibility, flexibility, and valuable insight into your customer base.
Many independent retailers remain reluctant to enter the e-commerce space in the face of a changing global economy. The objections fall into four categories:
1. Fear of the unknown ("I sell paint. I have no idea about e-commerce!")
2. I'm too busy (I don't have time for another "to do"/thing to worry about.)
3. Cost ("Why would I make such a large investment if I don't know the return?")
4. Skepticism ("People don't buy paint online.")
Why Do You Need E-Commerce?
CUSTOMERS ARE ALREADY THERE
A large portion of your market is already shopping for almost everything online. Amazon trucks are everywhere, demand for grocery delivery has surged (7.2 billion in June), and struggling shopping malls are smack you in the face evidence that customers have already made the shift—and the trend is here to stay. Shopify said the number of customers who bought something from a merchant they had never shopped at before has spiked 45%. This suggests that many people are discovering new brands online and could become repeat customers.
PROTECT YOURSELF
An e-commerce site will protect your business against another COVID-19 shutdown. Having three school-aged daughters, we've been talking a lot about the upcoming school year. In all my discussions, I don’t know anyone who is confident the kids will have a normally attended school year. Everyone is anticipating additional shutdowns. You, too, need to be proactively planning for another shutdown.
"The thing smaller businesses miss is that you're not getting online to take on Amazon. You're getting online to help your customers, who want to support you, to buy from you." – Bob Phibbs, CEO, The Retail Doctor.
YOUR COMPETITORS ARE THERE
Your competitors either have an e-commerce site now or will have one shortly; and the longer you wait, the less opportunity you have to establish your business in the e-commerce channel. Just this week, a major paint company both launched a newly revamped e-commerce site and announced plans to help finance e-commerce sites for dealers. Your competition is opening online stores. You need to be there, too.
PEOPLE ARE RESEARCHING PRODUCTS AND BUYING PAINT ONLINE
People are becoming more confident about buying paint online, and 82% of consumers conduct initial product research online before going to a brick-and-mortar to complete the sale. This is referred to as ROPO (Research Online, Purchase Offline), which exhibits how shopping patterns have changed from being a straight line to being more of a zig-zag pattern. Think of an e-commerce site as another opportunity for people to learn about your business. (retailcustomerexperience.com, July 2020)
We know that the words "digital" and "e-commerce" can be intimidating, especially for brick and mortar businesses who embrace the instore experience. With dealers' needs as our driving force, we have created a solution for you that's both easy and affordable.
An E-Commerce Solution Created BY Dealers, FOR Dealers
The Coatings Alliance, the creator of C2 Paint, has developed an e-commerce platform that will serve your interests while also addressing your concerns.
We have partnered with an independent retailer who also has extensive experience in the digital marketing world. His unique combination of digital acumen and dealer experience has allowed us to create a simple, yet effective e-commerce platform that will help your business effortlessly enter the online shopping world.
We know you are busy. Once you provide a "go-ahead" to start the project, all we need is some initial information and your customized e-commerce site will be operational in just a few weeks!
Your personalized e-commerce site will cost $6,500, which, according to industry standards, is a fraction of the price of a custom e-commerce site.
The Coatings Alliance has invested in an "open platform" site architecture which will allow you to add other lines and products to represent your full suite of offerings. You will work directly with a qualified independent contractor to help you customize the site in a way that authentically reflects your brand.
The pandemic will fade, but e-commerce will remain a permanent fixture in our business landscape. Now is the time to showcase your brand online so customers can see what makes your business, and community, so special.