Selling online: Don't miss out on £5bn market28 November 2005
As the number of broadband connections in the UK exceeded the number of dial-up for the first time this year, increasing number of Brits are choosing to stay in the comfort of their own home to do their shopping. Research by the Interactive Media in Retail Group has estimated that around 24 million internet users will spend as much as £5 billion making purchases online during the festive period.
This growing trend means that for most small businesses, it's a good idea to offer an online service in order to avoid missing out on this market. For anyone who isn't an IT pro though this can be a little daunting, so here we take a look at the benefits and some tips for getting started.
Benefits
Before you choose to set up an online shop it is worth considering how the advantages of selling online will benefit your business.
- Lower costs as an online shop requires fewer staff and less work space.
- Raise profits because selling on the web opens your customer base beyond where you are located to potential buyers worldwide.
- Administration is reduced as processes from ordering, selling and inventories can be integrated. See our previous feature on integrating back office processes.
- Customer service is improved as purchasing, queries and problems can be dealt with quickly.
- No need to send promotional material and catalogues to existing customers as all your latest business information is easily accessible.
Getting started
The basics: In order to create a fairly basic online shop you need to ensure you have a good internet connection, broadband will enable you to process sales quickly and efficiently. You also need to have a company website in place, and have an email account. You will also need to arrange a hosting service.
The layout: A number of companies offer packages which provide shop hosting services, and like regular shops the display and layout of your online shop can be made more sophisticated. But in terms of getting started, it's a good idea to opt for a package that provides a ready-to-use system and offers good support services.
BT's Internet Trader Pack - Shop is a useful solution that supplies simple guidance for construction with a professional layout and design. It has capacity to display up to 500 items and 50 different departments, meaning your customers benefit from a full range of choice. With no set-up fee and a low monthly fee, it is also good value for money and provides round the clock support.
Getting paid: Part of the convenience for both customers and vendors of buying goods online is that they may be paid for immediately. In order to benefit from this, you will need to be able to accept payment by credit or debit card.BT Internet Trader Pack - Payment is a simple package that allows you to do this, all run through a secure server.
Security: Finally, it is important to consider the security of your site and shop. While running on a broadband internet connection is efficient and fast, its "always on" nature means the shop it could be susceptible to viruses or hackers. Installing a firewall will help protect both you and your customer's details from these problems. See our previous feature on how to be how to be virus vigilant
If you'd like to know more about setting up an online shop and the laws and regulations involved, the Business Link website offers some useful advice.
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