Investment in an online store while in crisis situation
The pandemic situation in the last 2 years has brought an unexpected turnaround in the world of trade. Many physical retailers have closed their doors, while others have turned to online commerce and digital channels as a chance for their business.
The unprecedented growth in global online trade has not passed the relatively small market in Bulgaria. According to various metrics and statistics, this business in Bulgaria last year grew by about 8-9%, and in total in the last five years - between 21% and 35%.
The continuing uncertainty of the COVID-19 pandemic today, as well as the newly developed consumer habits, suggest that this will not be a temporary response in a crisis, but that this consumer behavior will persist and form a new reality. While there used to be some segmentation for the needs of a certain type of traders to sell remotely, the current situation has distorted or, more precisely, greatly expanded the profile of these traders. Whether you are physically located in a store that wants to sell online, a proven company with an emphasis on expanding its new niche, or just an intuitive entrepreneur who is quick to take advantage of the moment, building an online store or other digital presence has never been more relevant.
The main question follows, but it will determine the momentum of the business in the long run:
Ready-made digital platform in the beginning with a smaller budget and risk at the next stage of complete reinvestment or to bet on a unique solution for your needs from the very beginning and to easily develop it later?
Many of you may know what a ready-made e-commerce platform is, but it's still the software you need to build your online store to buy and sell online. It sounds banal and simple, but it has some peculiarities and specifics. In reality, such a ready-made platform covers the development process of the store, its technical support, guaranteeing the security of transactions, marketing, development opportunities, etc. Professional online shopping platforms have provided this for you, and the ways you can take advantage of them are different, especially in terms of prices. This really isn't the most important issue, but pricing hides its pitfalls, and the price is paid in the long run, and the mistake would be costly.
The mega development of online commerce in recent years has inevitably led to one in online store platforms. As e-commerce platforms continue to evolve, it is important that your choice is based on up-to-date information.
Here are the criteria it identifies: Price; Ability to customize; Need for technical assistance / support; Features; Design; Possibility for integrations; Value.
The truth is that looking ahead you will inevitably fall under the limitations of ready-made code and the inability to develop your online store as you wish, and then you come to companies like ours with the question:
Will you be able to do this in our online store because we need it, but it is not provided?
The answer is definitely NOT for several reasons, the main one being the lack of experience on our part in such ready-made solutions, and in many cases due to technical impossibility. Reaching this crossroads, you are usually in a situation of dependence and the choice is extremely difficult.
Precisely because of this proven fact over time, we persistently repeat to our customers that the initial investment in an online store should be meaningful, reasoned and with a vision ahead, and not focus on the price, which leads to trouble in the future.
We offer a fully specialized solution for each of our customers, with a guarantee of quality and opportunities for development in different directions and scales. It is especially important to mention the fact that when we need different types of integrations with external systems, our resource is unlimited, unlike ready-made platforms. We are convinced that with the development of online commerce more and more experienced traders will turn to specialized individual solutions, because it is a generator of profit and opportunities.
If, despite everything you've read above, you're confused and can't make your choice, don't hesitate to contact us to tell us about your project.