One of the best advantages of e-commerce is lower costs. Unlike a physical store, an online store doesn’t require any real estate property. Instead, it just needs a domain and hosting, which are both very inexpensive. Plus, you won’t need to hire any employees to manage your store. The automation of check-out, billing, payments, inventory management, and other operational processes allows your e-commerce business to virtually run on its own, and completely slash all of your personnel costs. And if you need to advertise your business, you’ll find that advertising channels for e-commerce such as search engine optimization, pay-per-click, social media, and email marketing are all very cost-effective. With such low startup and management costs, it’s no wonder that online retailers are outpacing the growth of physical retail stores, according to Forrester Research.
