Here are the instant thoughts that came into my head on the advantages of selling digital products.
1. Low Barriers of Entry
Almost anyone with a computer and access to the internet is able to start a business. This translates to it being low risk as you have low upfront investment costs and are able to scale it up fairly quickly. Being on the internet also means that you can reach out to a flood of global customers. A no brainer really.
2. Evergreen & Never Run Out Of Stock!
You are not dealing with perishable goods, so once you created a product, you can easily reproduce it to sell to literally unlimited amount of customers.
3. Low Inventory Costs
It is almost in fact dwarfed in comparison to what you will pay to have a warehouse and all the associated logistic costs such as moving the stock and handling returns. Usually your costs will be the commission or fee you pay to your payment processor or marketplace used.
4. Harness The Power Of Automation
The extra beauty is also the ability to automate the delivery once a purchase have been made and instant delivery which the customer craves for. This will literally make you earn while you sleep!
5. You Have Greater Control
You are able to experiment with pricing, decide on the way to market it rather than relying on distributors or third parties. In comparison to brick and mortar stores, you will have to have layers and layers of agreements and possibly provide credit.
Well, that's a quick brain dump from my end this week! Till next week, happy experimenting online.