Why you need a 301 Redirect
You can have multiple domain names pointed to the same IP but this will likely have a negative impact for you in the search engines. This is usually considered spam
because you're trying to index multiple website domain names that point to the same physical content on the server.
A better option is to order a separate hosting-only account, point the alias to this hosting account and forward visitors to your storefront through what is known as a 301 redirect. A 301 redirect is a search-engine friendly redirect. From a search engine perspective, 301 redirects are the way to redirect URLs.
In the case of moved pages, search engines will index only the new URL, but will transfer link popularity from the old URL to the new one so that search engine rankings are not affected. The same behavior occurs when additional domains are set to point to the main domain through a 301 redirect.
By using what is called an "IP funnel", you will have multiple domains pointed to the same site but you won't risk duplicate content issues.
You can also use a 301 redirection for common misspelled versions of your domain name, or for other good domain names that you don't want your competitors to get.
Always be mindful that 301 Redirects can be a very important part of your overall SEO strategy.
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