More businesses are being run online these days, as the cost of retail space continues to go up. With online businesses, owners are able to increase their profits without having to pay for storage, or upping the marketing costs, Off the Grid News reports.
According to the source, many companies nowadays are looking into cross-selling – "the practice of promoting complimentary products or services in addition to selling items." Amazon.com is a leader in this field.
In order for other businesses to thrive in this department, the source reports it's important for them to remain relevant to what consumers want. They need to make sure all product suggestions are carefully marketed to buyers' interests to avoid clutter or disarray.
Cutting costs on retail space means companies need to offer other perks to get consumers coming back for more. Offering free shipping altogether or on purchases over a certain amount will entice customers in the long run.
Since items need to be stored somewhere, many small businesses might turn to self storage facilities in order to keep their inventory safe. The popularity of storage companies continues to grow both in numbers and reputation, which may make selecting one for items even easier.
According to StreetInsider.com, the self storage industry has grown 35 percent in 2011 alone, and continues to grow despite a lull in the economy.
