Sustainability is a serious concern for most people these days. A growing number of entrepreneurs are interested in starting eco-friendly businesses to help the planet.
Unfortunately, it can be difficult to find a good business idea that is both eco-friendly and profitable. The good news is that there are some worth trying.
One option for green entrepreneurs to consider is launching an eco-friendly e-commerce business. E-commerce itself tends to be better for the environment than traditional brick-and-mortar retail channels. There are also ways to make e-commerce companies even eco-friendlier.
Guide to Creating a Lucrative E-Commerce Company that is Also Good for the Planet
We are all living in a digital world where we check the internet and gather information about a particular product before purchasing it. With the advent of digitization in recent years, we have become more dependent on online businesses and transactions in our everyday lives. In such circumstances, it becomes essential for any company to begin an online business that will represent their offline one.
In addition to creating brand awareness and boosting sales, online businesses offer many advantages that a business might not get from traditional ones. In addition to having potentially higher profit margins, they are also better for the planet.
The environmental benefits of shifting to an e-commerce business is significant. One study from Carnegie Mellon showed the carbon footprint of online retailers was about 30% lower than traditional retail companies.
So, if you are thinking about launching a website and wondering about the possible advantages of starting an eco-friendly online business, we have gathered the essential benefits you can reap from owning it. So, let’s get started!
Top 4 Benefits of Starting an Online Business Green Entrepreneurs Should Consider
Running a business is not an easy task. It requires a lot of hard work, focus, and technical know-how to carry out the business procedures. When it comes to e-commerce, it’s no different. As an aspiring eco-friendly online retailer, you are going to have to understand the benefits before launching your company.
There are significantly more advantages to owning an online business that can ease your business operations and help gain the desired growth and sales. Here are some of the essential benefits of running an online business that is environmentally friendly.
Business Without Border
One of the top advantages of having an online business is the ability to reach out to more customers without boundaries. Traditional businesses may have a restricted area where they carry out potential transactions and lose out on prospective customers who live far away.
These customers may need the products and services you offer. However, they have no idea of the existence of your business.
You can expand your customer base to a wider area with an online website. Prospective customers can reach out to your online business by typing in the relevant keywords into the search engines. You can target relevant customers by including eco-friendly keywords in your website. Customers that care about sustainability will be more likely to find your eco-friendly business this way.
Not only is it going to bring in more customers, but by providing superior services, you can also boost your brand awareness. You can even have a global customer base by providing your services worldwide.
Low-Cost and Low Carbon Footprint Business Operations
Owning an online business significantly reduces the costs involved in keeping a warehouse, inventory, or staff. It also reduces your carbon footprint, because your energy and resources will be used more efficiently, as the Carnegie Melon study concluded.
You can ship all the products you offer through suppliers who take the order directly to your customers. It reduces time and helps you provide customer satisfaction. No matter where you are based, the local suppliers can take orders from your customers quickly and efficiently.
The cost of starting an online business is significantly lower compared to an offline one, where you need offices, shops, warehouses, staff, and other essential aspects of physical commerce.
However, in the case of an online business, you can use an all-in-one online platform to manage all your operations, like booking, payment, employee and customer management, etc., in just a few clicks. You can even opt for customizable white label software and rebrand it at an affordable cost while incorporating your every business detail for a seamless workflow.
An Always Open Shop
Most physical shops open and close at fixed times, and people who wish to purchase the products will have to wait till they open for business.
Ultimately, it will lose leads and sales. With an online business, you have the flexibility to have an open shop all the time, without any time restrictions. This is great for green entrepreneurs looking for reach customers at all hours of the day.
Customers can visit your site any time of the day and place orders for their desired products or services.
Therefore, starting an online business along with an offline shop will help you make more profits and grow your business significantly compared to an offline shop. In addition, as more customers can reach out to your online business, you can boost the reputation of your business.
Display All Your Products or Service Offerings in One Place
You can display all of your products and services in one place, whether you have a limited number of products or a wide range of services.
Your customers can go through all the displayed products to compare them with alternatives and the available price options. Then, they choose the products and services that best suit them while sitting in the comfort of their homes.
Another advantage is that you can know what your customers are looking for on your website and introduce new products based on their popularity.
Customers can make their choice depending on the ratings and preferences of buyers as well. Finally, it saves your customers time and hassle for you to show and detail all the products.
Other Essential Benefits of Having an Online Business
Apart from the advantages mentioned above, here are a few more benefits you get with an online business.
- You can offer efficient customer support round the clock.
- Operate your business from anywhere in the world.
- Reach a wider customer base through social media and other online marketing strategies.
- Easier transactions with options to offer various payment modes.
- Expand the product line depending on customer demand.
Reach Eco-Friendly Customers
More people than ever care about sustainability. One study by McKinsey found that 67% of customers take sustainability into consideration when making a purchasing decision.
You will also want to have contingency plans in place to help make your e-commerce business more sustainable. Please read the linked article to find ways to make your e-commerce business eco-friendlier.
Be Aware of the Benefits of Running an Eco-Friendly Online Store
There are numerous benefits to owning an eco-friendly online shop. You can boost your brand identity, increase your customer base, boost profitability, and grow your business easily and fast.
In addition, it is one of the low-cost options if you are willing to start your own business. Whether it is a small or a large business, you can profit immensely with an online business platform.