E-commerce: The Basic Explanation
In simple words E-commerce refers to any business related activity which you do on the internet. It is a process of buying and selling done on the internet via a webpage. The word E-commerce is an abbreviation for Electronic Commerce. An E-commerce webpage is equipped with features that make product browsing easy for the customers.
Nowadays, we can choose a lot of E-commerce platforms to create a website, you can research PrestaShop, this is the best Open source platform. Prestashop Blog is the most common blogmodule for Prestashop
The trend of E-commerce is increasing very fast and today people prefer purchasing products online as opposed to a physical retail store. According to one statistic, around 60% of people in the developed countries do their shopping from the internet. The reason behind this high preference of online shopping is convenience.
Types of E-commerce
Though this is not directly related to our subject, however just for your information we have mentioned some common types of E-commerce in the points below
- Business to Business
- Business to Consumer
- Consumer to Consumer
- Consumer to Business
- Business to Administration
- Consumer to Administration
E-commerce and Business
If you are a business person then it is highly recommended that you should come up with your online presence. There are numerous benefits that E-commerce provides to a Business. To know about these benefits please refer to the headings below
1. Complete Product Description
An Ecommerce site contains datasheets. All the important information related to the product characteristics and features are included in the datasheet. The datasheet also contains the ratings that have been given by consumers who have previously used the product. This datasheet is provided to the consumer who is purchasing a product from an Ecommerce Platform.
Another document which is provided by online store to its customers is the product catalog. The catalog contains all the important information which a customer wants to know about a product which he wants to purchase. The catalog helps the customers in making informed decisions.
While purchasing a product from an E-commerce store a customer can also find relevant information about the product by clicking its description link. The point which we are trying to establish here is that customers can learn more about the products from an e-commerce platform as opposed to a physical retail store.
2. Search Engines: Availability
The physical stores generate and retain customers by relationships and branding. An E-commerce platform develops customers by generating traffic via search engines, that reasons why you should be using a Responsive Web Design. There are billions of individuals all over the world who daily utilize the search engines for finding different products. An online store has a far better reach to consumers as compared to a physical store.
One of the researchers has revealed the fact that the majority of people only click the first link that comes on the first age of a search engine. Keeping this information into consideration it is highly recommended that businesses should make proper investments in their SEO.
3. Lower Cost
For the management of inventory, a lot of cost gets incurred in a physical store. As opposed to this it is much easier and less costly to manage inventory in an E-commerce website. An online store delivers its owners with features and facilities that can be utilized for the automation of certain responsibilities.
In an E-commerce website there is a web based system through which you can get your inventory managed with ease. After getting automated, the system starts managing the inventory.
4. Customer Behavior
Information is considered as a power in the business world. For business people the buying behaviors of their customers are very important. This extraction and monitoring of information is way too difficult in a physical store.
In Ecommerce, the website records all the activities of the person who actually visits it. The website records various important things such as the items that were inspected, the pages which the customer visited and finally the items which he or she purchased. The information helps the online business owner to come up with the right marketing strategy.
5. High Competency
An E-commerce website neither gets slow nor does it get worn out. It continues selling services and goods 24-7. The reason behind this phenomenon is the computerization of the system. The system is highly accurate and effective.
The management of the inventory is done by the store on its own. Another key benefit of an online store is that the cost of launching it is very low. Hence it is a conducive, option for all the young entrepreneurs out there.
If you are looking to start your own business then consider going online!