E-Commerce Basics
Brett Budos
Student at Western Washington University, Business Administration and Marketing
No one could have predicted the insurmountable relevance of e-commerce in most of our daily lives. Since 2000 and the dot com boom, this retail sales sector has only increased. In 2011, we saw 5% of all retail sales occurring via e-commerce, an already large number. After the pandemic helped bootstrap it up, that number has jumped to a staggering 21% in a little over a decade. Will this number continue to grow? After all, no one ten years ago would have thought it would have increased 3 times. While it is difficult to predict the nuances and direction e-commerce will take, here are some things you should know about it.
The important segments of E-Commerce
To understand how this system works, you must be familiar with the many ways of communicating who is buying what and who is selling to whom. Here is a helpful list that you must first understand. These words can also be found in other business means.
There are more of these that are more relevant for certain industries depending on what goods or services are being exchanged, but these are the ones everyone should know.
Advantages over traditional physical retail
With the more obvious presenting and known disadvantages to e-commerce over physical retail, the advantages aren't as well known. Here are some of the benefits.
What has interested me recently?
With any conversation surrounding e-commerce, Amazon always pops up. However, did you know that 42% of all Amazon reviews are likely to be fake? Reviews are a huge factor that helps push or pull people to buy certain things. I decided to read through this article that offers assistance in determining if Amazon ads are fake, misleading, or not truthful. Here are some red flags to look for if you are deciding to buy an item.
Marketing Systems Architect | I Build Predictable Revenue Engines for Scale-Ready Brands | No ROI = No Invoice
1 年E-commerce's rocketing growth trajectory is like watching a sci-fi movie become reality. With the digital marketplace evolving at warp speed, what do you think will be the next big game-changer in e-commerce? How do we stay ahead without getting lost in the vastness of space?
Marketing Assistant at Sound Painting Solutions
1 年Absolutely game changing blog post. Thank you Brett for sharing your expertise on E-commerce