E-commerce

eSOLD.com.au Tests Bricks and Mortar

What was previously considered a pureplay online retailer of electronics and related accessories, eSold.com.au has taken its ongoing growth strategy in a surprising direction – by opening its first bricks-and-mortar store.
Effectively what is now a multichannel business, eSold decided to test the waters after three years as a pureplay business. Now its first bricks-and-mortar outlet has appeared in Melbourne’s CBD on Swanston Street.
According to eSold’s Strategist , the results so far have been very positive.
“What we have found so far is that what sells online doesn’t translate to what sells instore and vice-versa.

At this early stage we think it is down to familiarity. If consumers are buying a product or brand they know about they are happy to buy online but if they are buying a product or brand for the first time they are more cautious and like to touch and feel,” the strategist said. “The volumes of stock sold out of the shop each day have been beyond expectation.”

“Fortunately we are in a position to be able to test a multichannel approach and supply product that meets both types of consumers buying behaviours.”

The online retailer is a regular seller of iPhones, iPads, and offers familiar brands such as Samsung and Princess.
eSold’s leadership said it intends to maintain the retailer’s online channel at the core of its operations, however there is some consideration to be made for investing in additional retail outlets in the future.
According to the company, eSold’s subscriber base is in the hundreds of thousands  which places it in a strong position for instigating further online transactions.