2 minutes 42, seconds read
Ecommerce is an ideal way to innovate your brand from a traditional brick and mortar store into well loved brand. By offering great products 24 hours a day long and providing tools like online customer services, blogs and social media, eCommerce allows you to give a character and personality to your business. You can fully expand your product ranges without having to worry about moving locations or worrying about not being able to expand your business. Jeff Bezos has accumulated more wealth than entrepreneurs of all economic fields, including technology. In just over 20 years, a reassertion of the importance of online trade and marketing, and that what we know as e-commerce is beginning. In general, traditional companies have restricted hours, but an online e-commerce shop can be open 24 hours a day, 7 days a week, 365 days a year.
It’s important to mention that, eCommerce will be helpful for Both B2C and B2B businesses to boost their brand awareness in the market. This is another important detail thinking about the long term of your business. Search patterns and consumer spending, the advancement of technology, and the latest statistics estimate that by 2040, 95% of purchases will be made through the internet. E-commerce allows you to automate discounts and sales. You can set discount codes on the backend of your site and create expirations for them. This mitigates the possibility of mistakenly accepting an expired coupon which could occur at a physical store.
Ecommerce offers business a whole range of opportunities, from marketing opportunities to increasing your products ranges to generating more sales and with an optimised and well developed website you can not only achieve these goals but also offer your customers a round the clock, convenient service, that can boost your business. An ecommerce site let’s you scale your business accordingly, allowing you to add more lines, add more payment options and even grow when you choose to ship to, without having to worry about changing your location or moving to a larger premises like you might with a brick and mortar store. This obviously increases the potential customer base greatly and at no real extra cost after your eCommerce business has been put live. In the emerging global economy, eCommerce has increasingly become a vital component of business strategy and a solid catalyst for economic development. If you want to grow your product range and your target audience, as well as develop your business for customer requirements and consumer demand, an ecommerce site is an ideal solution. ECommerce offers business a whole range of opportunities, if you are still not present online, it is high time you took a decisive step forward.
References
Jetty Bakker
2 minutes 46, seconds read
E-commerce allows you to automate discounts and sales. You can set discount codes on the backend of your site and create expirations for them. This mitigates the possibility of mistakenly accepting an expired coupon which could occur at a physical store. Simply put, because the world is moving more and more into the digital realm every day. According to marketing research firm Coleman Parkes, 21-40% of a business’s contributions are a direct result of e-Commerce and that number is expected to grow rapidly over the coming years. With the growing impact of the digital community affecting the way business is done, now is the time to start thinking about an e-Commerce solution.
Whether, you want a solo flight in the form of a custom-built eCommerce store, or take help of a prevailing eCommerce platform. Ecommerce is an ideal way to innovate your brand from a traditional brick and mortar store into well loved brand. By offering great products 24 hours a day long and providing tools like online customer services, blogs and social media, eCommerce allows you to give a character and personality to your business. Ecommerce is an ideal way you can take your brand from a traditional brick and mortar store to an innovative, well loved brand. An ecommerce site let’s you scale your business accordingly, allowing you to add more lines, add more payment options and even grow when you choose to ship to, without having to worry about changing your location or moving to a larger premises like you might with a brick and mortar store. Ecommerce offers business a whole range of opportunities, from marketing opportunities to increasing your products ranges to generating more sales and with an optimised and well developed website you can not only achieve these goals but also offer your customers a round the clock, convenient service, that can boost your business.
Reynaldo Obenchain
Avid coffee fan. Lifelong food advocate. Freelance travel trailblazer. Passionate zombie evangelist. Extreme zombie specialist.
2 minutes 41, seconds read
It’s important to mention that, eCommerce will be helpful for Both B2C and B2B businesses to boost their brand awareness in the market. This is another important detail thinking about the long term of your business. Search patterns and consumer spending, the advancement of technology, and the latest statistics estimate that by 2040, 95% of purchases will be made through the internet. Ecommerce is an ideal way to innovate your brand from a traditional brick and mortar store into well loved brand. By offering great products 24 hours a day long and providing tools like online customer services, blogs and social media, eCommerce allows you to give a character and personality to your business. E-commerce certainly may not be right for everyone, or it may not even be the right time for you, but it’s important to consider an e-commerce-based strategy if you have a retail operation or even an idea you want to put into action over the next several years.
So while e-commerce may not be the be-all and end-all in retail or general commerce, it’s worth your attention. As e-commerce sees no sign of stopping and technology continues to develop, there are several key changes that may further affect the way e-commerce evolves. In general, traditional companies have restricted hours, but an online e-commerce shop can be open 24 hours a day, 7 days a week, 365 days a year. If you’re selling something, and plan to continue doing so for the foreseeable future, you’ll want to pay attention to e-commerce and become an active participant as soon as it’s feasible for your business. So why is e-commerce important? It is a rapidly growing consumer outlet that isn’t showing signs of slowing down. There are many reasons the world, or those with internet access at least, seems to gravitate towards e-commerce.
Similar to it’s ability to attract new customers, e-commerce theoretically allows you to sell to customers without geographical limitations. Unlike a physical store, the internet, and therefore your e-commerce store, is open 24 hours a day, seven days per week. In theory, a small e-commerce store could be managed by a single person, likely the owner, for just a few hours each day. You want to give customers a real idea of what they are getting when they buy your product, as one of the disadvantages of e-commerce is the inability to interact with a product prior to purchase. There are many advantages for your business in dealing with e-commerce and it’s a marketplace that is growing at an incredibly fast rate.
Karen Rahmani
Proud web fan. Devoted pizza enthusiast. Professional web enthusiast. Passionate tv specialist. Incurable beer buff. General web enthusiast.
From startups to small businesses right through to huge brands, there are a huge number of companies that can benefit from their own ecommerce website, where they can sell their own products or services. In todays competitive and convenience focused society, no longer do consumers want to venture to the high street in order to buy items, instead consumers want to shop from their own homes, making ecommerce a flexible solution for both businesses and buyers.
If you’re still on the fence about launching an ecommerce store then look no further, here’s the top 5 reasons ecommerce is so important for your business and just how you can benefit from moving online this year!
Can Broaden Your Brand
Ecommerce is an ideal way you can take your brand from a traditional brick and mortar store to an innovative, well loved brand. By offering great products 24 hours a day along with online customer service, blogs and social media, no longer is your business one singular store, with an online presence your business can be the home of your products and the general home of your business, allowing you to fully expand your product ranges without having to worry about moving locations or worrying about not being able to expand your business.
It’s More Convenient
An online store is available all day, every day meaning your customers can visit your store at all times, no matter what their schedule might be. These days people don’t always have the time to physically go shopping, instead more and more people are choosing to shop online to find the items they want or need and if your business can offer this for your customers there’s no you shouldn’t appeal to a wider range of customers all looking for a convenient and flexible experience.
Increase Your Reach
Due to the internet’s accessibility, millions of people across the world can view your website at any time, meaning that for those looking to expand their businesses and reach out to a larger audience, you have many more opportunities to do so. Compare the amount of people you can reach through a website to the amount you can reach through a high street store or local advertising, there’s no reason you shouldn’t look at taking your business online if you’re looking to improve your reach.
Gives You Marketing Opportunities
Your website is one of the best marketing tools your business has, not only can the use of SEO when building your site lead to more chances of your business getting found in search engines, but a huge number of marketing techniques can also work alongside your website, including pay per click advertising, your social media marketing and your email marketing, all of which can include links back to your website.
Scalable
As your business grows it’s very likely you’ll want to grow your product range and your target audience, as well as develop your business for customer requirements and consumer demand. An ecommerce site let’s you scale your business accordingly, allowing you to add more lines, add more payment options and even grow when you choose to ship to, without having to worry about changing your location or moving to a larger premises like you might with a brick and mortar store.
Ecommerce offers business a whole range of opportunities, from marketing opportunities to increasing your products ranges to generating more sales and with an optimised and well developed website you can not only achieve these goals but also offer your customers a round the clock, convenient service, that can boost your business.
Are you looking for an ecommerce solution? Why not speak to our team to find out more?
In the emerging global economy, ecommerce has become an integral element of business strategy and a very real incentive for economic growth.
The continued expansion of ecommerce business may help to reduce inflation through cost savings, increased competition, and changes in sellers’ pricing behavior.
From startup businesses to small companies and even onto large corporations, many companies can benefit from having their own online ecommerce stores, where they can offer their services or sell their products. Thus, learning about ecommerce offers immense benefits to entrepreneurs and business owners.
However, the speedy influx of new technology in the retail space has made consumers of all ages come to expect a connected and convenient experience that aligns seamlessly with their daily lives.
If you’re still unsure about launching your ecommerce business, ask yourself why is ecommerce getting so much attention around the globe?
In this article, we’ll look at 6 benefits of launching an ecommerce business.
Ecommerce Cuts Costs
Operating an ecommerce business does not require you to store all your products in a physical location that you pay for. Many ecommerce businesses operate by displaying inventory that is actually stored by another company.
This means that ecommerce not only helps you save costs by eliminating the need for rented or purchased premises, but you’ll also save on related costs such as electricity. However, if you do need to have a physical location for some reason, you may be able to get by with a smaller showroom with space for just some of your inventory. This way you’ll cut the costs of renting a physical space.
Furthermore, setting up a website is more cost-effective than renting a physical location to display your products, which makes ecommerce a lower-risk investment than opening a physical location for your company.
You don’t need to shut down your website after office hours. With chatbots taking care of your customer service, you can serve customers anywhere in the globe with no restrictions as to location and time.
Alternative Marketing Channels
An ecommerce mobile app or website plays a fundamental role in your marketing strategies. No matter the types of ecommerce marketing you choose, whether it’s email newsletters, ads, content marketing, or social media marketing, you’ll need a website where online visitors can interact and engage with your brand.
Ecommerce will also boost your marketing strategies, increasing your visibility locally and globally. With more consumers turning to the internet for their questions, an ecommerce site with the right conversion strategies can convert visitors to paying customers.
Global Reach
Unlike brick-and-mortar shops that are stuck in one location, the internet gives your business a global reach. Even if local customers are your primary source of revenue, getting into ecommerce can help you explore new opportunities.
For instance, if you offer services to local customers, your ecommerce website can be where you offer products that align with those services. Property maintenance or groundskeeping service providers, for example, can offer lawn maintenance products to their customers through their online store.
Furthermore, with the right digital marketing strategies in place, you can increase awareness of your ecommerce business among local and global audiences.
Expand Your Business and Broaden Your Brand
Having an ecommerce business can broaden your range of services or products, expand your company, bring you more customers, and diversify your sales. Venturing into ecommerce is the best way to take your brand from a traditional brick-and-mortar store to an innovative store that consumers rave about.
With ecommerce, you don’t need to have more than one branch. Just one website is enough to allow you to reach your prospective customers all over the world. You can even manage your ecommerce business from home.
Ecommerce is crucial to both B2C and B2B companies because it allows them to boost their brand awareness among consumers.
Customize Your Customer’s Shopping Experience
Another benefit of having an ecommerce store is being able to know and monitor what your potential customers are doing online. Physically, it would be uncomfortable for a potential customer to enter your store and have you behind them all the time asking what they want and why he or she isn’t buying your products.
Ecommerce allows business owners, for instance, to know at what point in the buyer’s journey the potential customer left the purchase and even allows owners to remind customers that they abandoned their cart by sending them an email. This can help you improve your customer’s shopping experience, for instance, by shortening the steps customers need to complete an order they started at an earlier time or offering them products with similar characteristics.
Boost Your Business’s Image
Improving the image of your business is another benefit of ecommerce. Providing a good online sales platform to potential customers will give your business a great professional appearance.
This also shows your interest in facilitating customers’ purchases. For instance, it prevents potential customers from having to leave their homes and travel to a physical location to make a purchase. Also, it allows customers to compare prices easily to see that you’re offering them the best deal.
This boosts your business’s image among your target audiences and makes it more likely that your customers leave positive feedback and reviews about your business.
Final Thoughts
Typically, it’s quite easy, low-risk, and low-cost to start an ecommerce business. So as long as you pick your services or products wisely and have a solid business plan, there’s plenty of potential high return on investment (ROI) and passive income to be earned over the long term.
E-commerce always was the way of the future, but now it is more than ever before. The outside world has become a place of uncertainty, caution, and social distancing, bringing to light the many advantages of e-commerce for businesses and consumers.
, we’ve seen an increase in loan applications from e-commerce businesses that wish to grow and meet this increased consumer demand.
Why is e-commerce set to grow?
E-commerce was growing predictably up until COVID-19 put it on an expedited trajectory, accelerating the industry’s growth by 4-6 years! The pandemic shone the spotlight on the many e-commerce advantages, particularly that of convenience. During May alone, during the Coronavirus lockdown, global e-commerce sales reached $82.5 billion, a 77% increase over the previous year.
According to a Deloitte report, 85% of retail sales were through brick and mortar stores up until 2019. Then along came COVID-19, causing traditional retailers to scramble to get online and e-commerce numbers soared. The biggest shift in the US has been in the grocery shopping market. In March 2020, 42% of US consumers shopped for groceries online at least once a week compared to just 22% in 2018 (GeekWire, 2020).
Experts don’t see this as simply a short-term fix for Coronavirus concerns, and it’s been predicted that COVID will increase US e-commerce by almost 20% over the next year. Coronavirus served as a catalyst, propelling consumers into the online shopping world, consumer behavior that’s likely to continue, even once the Corona dust settles More than 50% of online grocery consumers state that they’re planning on shopping online even after the pandemic.
Lower prices
The lower costs of running an e-commerce store versus a physical store translate to cost savings for the consumer. This is one of the biggest e-commerce advantages. Online prices are typically lower than traditional store prices, and e-commerce sites are able to offer more discounts and promotions that are easier to claim.
Convenient and safe
Shopping when you want from where you want is far preferable (and a whole lot safer) than heading out in this COVID reality we’re now living in. Coronavirus aside, there’s also something to be said about shopping from your bedroom, without having to venture out, wait in lines, battle cold weather, and all the other challenges that go along with consumerism.
Wide product variety
In the global marketplace that is the internet, consumers can buy electronics from China, books from England, clothes from Paris, and good old US products all from the comfort of home. The width and depth of products sold online are unbeatable.
More informed decision-making
Information is literally at your fingertips when buying online, including:
Comparison shopping is another one of the top benefits of e-commerce to consumers, who can easily compare products, brands, and websites with even side-by-side comparison possible. Many comparison shopping sites exist with the sole purpose of enabling consumers to compare products side-by-side based on price and discount metrics.
Saves time
In an age where time is a rare commodity, shopping online provides massive time savings to the consumer. Since 63% of consumers start their shopping journey online, it makes sense to be able to buy where you already are (Thinkwithgoogle, 2018).
No need to head out, shop in-store, wait in line, and then journey back home when you can access a greater product variety at a lower price from the comfort of home.
Top 5 advantages of e-commerce for business
Selling online gives the retailer access to a goldmine of customer data that is just not accessible through brick-and-mortar retailing.
Not only do online consumers typically provide their name, email address, and phone number when checking out or registering on a site, but they also provide a wealth of consumer behavior and demographic data, available through Google Analytics, that can help online retailers optimize the consumer journey and market more effectively and accurately.
E-tailers are also able to nurture and retarget consumers precisely, based on their stage in the journey. For example, using data insights, an online retailer can email potential customers who have abandoned their carts, motivating and reminding them to check out their purchase, and can even use retargeting advertising to nurture leads that have not yet purchased.
Wider customer base
Going online with e-commerce sites makes geographical boundaries become inconsequential. You could sell your products to online shoppers across the country or even across the globe. You’re not limited to shoppers in your physical location.
The internet also opens up your retail store to different niche audiences that you wouldn’t have access to. By using multiple online touchpoints, you can access customers from all angles by going where they already are, such as social media, forums, and Google search.
Open always
When you sell online, your business is open 24/7/365. Even though your customer support may be sleeping, automation ensures that the rest of the sales process is always flowing and consumers can buy on any day, at any time.
Easier to scale up
Scaling up or growing a physical store requires more floor space (and the expense that comes with it!), employees, and shelf space. In contrast, it’s very simple to grow an online store, which is one of the less obvious benefits of e-commerce for businesses.
All you need is more inventory, a few digital tweaks, and possibly more storage space, which is far less costly than storefront space. Being online also eliminates the need for opening a new store in another location as you’re already within the reach of a global marketplace.
Online, in-store, or hybrid?
What’s in store for your business in 2020? Based on the advantages of e-commerce to consumers and businesses, as well as the e-commerce statistics, it’s clear that online selling is the way forward. But that’s not to say that physical stores will die out after Coronavirus.
If you’re already online, you’re in a prime position to capture the many consumers that have turned toward online shopping in these uncertain times – make sure to track your profit and expenses so that you can always optimize for profit!
Pro tip: BeProfit – Profit Tracker is the ultimate expense and profit margin calculator Shopify app. If you sell on Shopify, this Shopify profit calculator allows you to effortlessly track and optimize your store’s profits and expenses.
Try BeProfit, the cutting-edge Shopify calculator app, here.
For those of you that are still brick-and-mortar, now’s the time to get your store online, perhaps even using your physical store as an order fulfillment center when foot traffic is low.
can help you grow your e-commerce store by ordering higher quantities of stock in advance and expanding your marketing budget so that you’ll be able to capture as much of your target market online as possible and grow – the demand is already there, you just need to grab their attention!
Disclaimer: The information contained in this article is provided for informational purposes only, should not be construed as legal advice on any subject matter and should not be relied upon as such. The author accepts no responsibility for any consequences whatsoever arising from the use of such information.
An eCommerce solution is a specialized software that facilitates online sales. It involves the exchange of goods and services. Moreover, the transfer of money or data over an electronic network, most notably the internet. These business dealings can be either B2B (business-to-business), B2C (business-to-consumer), C2C (consumer-to-consumer), or C2B. You don’t need any technical expertise because it will provide you with all the tools required. Depending on your store’s demands, there are hosted and self-hosted versions available.
Reasons For Risen Popularity Of Ecommerce
Customers may shop faster and for what they want. They can quickly browse numerous goods at once and purchase what they choose. Online shoppers get access to products that are unavailable locally or are only available in distant physical stores.
One benefit of doing business online is being able to choose from various things and have their order delivered too. All the procedures involved in finding an item, reading its description, and adding it to your cart take very little time. The buyer is content in the end because he only had to travel locally and now owns the goods.
Market Potential Is Vast
One of the main advantages in the developing industry has been the ability to access your items from a digital environment where companies and people from around the world can shop.
Only a few customers may contact the store owner. They can deliver to customers’ homes. However, there can be distance constraints. Many e-commerce sites have their delivery and logistical networks.
Development Of Stores And Product Listings
When a customer searches for an item, they see a product listing. One perk of eCommerce is that it is intended for the vendor. One benefit of operating an online business is the ability to customize your product listings once created. What’s best? All you need to start a listing is the name of your product or a code like EAN, UPC, ISBN, or ASIN, which takes very little time.
The number of photos, descriptions, categories, prices, shipping costs, and delivery dates that sellers can include is unlimited. So you may inform the buyer of a lot of information about the product in just one step. Making an online listing lets potential purchasers see what you have.
Listings can be made more accessible and appealing by customizing them. The merchant has authority over customization in this case; he may mention deals, discounts, etc. E-business product listings also have the benefits of being quick and cost-free to upload.
Unlike in physical stores, one does not have to wait in line to access goods. The internet market’s hallways are open to you, and you can conveniently buy things with few or no restrictions.
Convenience For Clients
Customers are constantly present on eCommerce sites, and due to the conveniences they enjoy, they are likely to make additional purchases there. Free shipping (typically based on a minimum cart value), expedited order delivery, promotions and discounts, and subscription benefits are a few of these conveniences.
They also discuss reviews of the products they purchase. Positive ratings lead to two further e-commerce advantages. One is that the quantity of favorable reviews influences customers’ perceptions of your store. The other is that you can use it to find your best-selling products.
This customer flexibility can be used by sellers to increase sales. With the knowledge that many customers, can list their goods on an online marketplace with assurance.
More Rapid Reaction To Consumer/Market Demands
Even while responding to market needs, rapid measures are possible. Consider the e-commerce scenario where a customer can select the “Notify Me” option when they notice an item is out of stock. When that item becomes available for purchase once more, he gets notified. To attract more customers, it also alerts retailers that they must resupply that item.
Next, we’ll talk about trends. For example, if voice-activated personal assistants are in demand, a vendor can fill their shelves with them. He is confident that this product will sell and has observed similar results with other vendors too.
Merchants can quickly generate promotions and specials. This draws clients and increases the likelihood of making more sales. Online retailers can create and use coupons whenever they want and they can even tailor the deals for their stores.
Several Methods Of Payment
Customers enjoy customization, and they also enjoy paying for their orders. Ecommerce marketplaces accept various payment methods, including UPI, pay later credit, cash on delivery, card on delivery, net banking, and EMIs on credit or debit cards.
Cart recovery is the main advantage of online shopping. Sometimes a customer proceeds to the checkout page without completing the transaction. You can inform the customers to complete their purchases here via email.
However, customers are only permitted to use one sort of payment method per order. The order value, simplicity of payment, and accessibility of cash or credit cards all have an impact on this decision. In rare circumstances, a dedicated wallet amount and a payment method can be combined.
For sellers, this means they won’t have to miss out on a potential sale opportunity because there aren’t enough payment options.
Improved Marketing Opportunities By Ecommerce
The most effective marketing tool you will ever have is your eCommerce website. Thanks to the internet, anyone can now sell their products or services using online eCommerce business websites. This includes SEO, social media marketing, email marketing, search engine marketing, pay-per-click advertising, and online tools for search engine optimization.
Have you ever wished you knew what customers thought of the products you sell so you could enhance or add to them? The internet store will enable you to get that input so you can make adjustments to your company. With the option to leave comments and star ratings.
After making a purchase, the buyer will also feel heard. There isn’t a greater method to express our gratitude for your trust in our company’s products. Additionally, you won’t need to worry if you provide quality.
Enabling a direct line through which people may see what they might anticipate from a certain asset is a fantastic public demonstration of trust in your company.
Conclusion
Launching an online eCommerce business store is simple, inexpensive, and low-risk. There is a lot of scope for a steady income and a high return on investment over the long term. However, provided that you choose your products and services intelligently, have a sound business plan and choose a suitable partner to assist you in building your store.