Riding the Digital Wave: E-Commerce

E-commerce has helped businesses establish a greater market presence by providing cheaper and more efficient distribution channels for their products or services.

What is E-commerce, and how does it work?

E-commerce is the process of buying and selling tangible products and services online. E-commerce has helped businesses establish a greater market presence by providing cheaper and more efficient distribution channels for their products or services. E-commerce has multiple definitions however all of them follow the same basis – purchasing and selling goods and services over the internet. In such a form of commerce, concluding a sales contract between traders and consumers takes place virtually, using one or more devices for distance communication.

What are the benefits of E-commerce sites for customers? 

Lower Prices

Online stores tend to sell their products for cheaper rather than in a classic, brick and mortar store. Merchants with an online store have lower costs than classic merchants and that is the main reason why they can afford to offer lower prices to their consumers.

Faster and Easier Purchases

How many times have you waited in line to purchase a few products? How much time have you spent looking for a parking spot in front of the store? That’s a lot of valuable time lost that you will never get back. These things don’t exist when shopping online. With just a few clicks you can make a purchase and have it delivered directly to your home. 

No Unfriendly Sellers

Online shopping is a great solution to avoid disputes betweens sellers and buyers. If buyers have any questions, they can always email the seller or send them a message through their social channels for a quick resolution. 

Available 24/7

E-commerce sites are accessible 24/7, in comparison with classic brick and mortar stores, which have defined working hours. Therefore an online purchase can be made at any time of day at the buyer’s convenience.

Information Made Available To You

Information regarding the products and services offered by the merchants is usually made available on the e-commerce site itself; e.g., size/colour of the product, the full range of products they offer, as well as useful information about the physical store itself (such as where it’s located and its opening hours). 

Wide Range of Goods and Services

E-commerce sites usually feature a broader range of products with more options when it comes to colours and sizes in comparison to physical stores which might not have the space to showcase all the different products.

What are the benefits of E-commerce sites for businesses?

Entrepreneurs are looking to have an online store where they can showcase their products and the work they offer with the main purpose of increasing sales.

According to GetApp-premier online resource, 53.1% of consumers prefer researching and buying products online, which shows the increasing need for the e-commerce industry. Entrepreneurs are looking to have an online store where they can showcase their products and the work they offer with the main purpose of increasing sales. There are various reasons why someone might want to start an online business, therefore, the main question is – what are the pros of e-commerce businesses?

What are the pros of e-commerce for businesses?

Lower Costs

The costs of online businesses are lower because employees are not required at every location, neither are security or maintenance personnel. Employees are mostly required when it comes to customer support, sales and for the packaging and delivery of the items. In some cases, no storage space is required either. Furthermore, the costs incurred by the purchasing or rental costs of the physical stores are no longer valid.

Availability 24/7

Buyers can gather information about all items listed on the site and purchase whatever they wish at any time of day. This increases the ability to earn profits and helps in strengthening the relationship between consumers and the merchants. 

International Sales

Through the use of the internet, the market is expanded to other locations worldwide, creating an additional opportunity for earnings.

Personalisation

E-commerce allows for monitoring of the customer experience and also provides an opportunity to personalise offers, newsletters, and everything-in-between, that will ultimately help in increasing sales.

Creating a Customer Database

When registering in an online shop, visitors are usually asked to enter data about themselves. Through this data provided to the merchant, they are able to adapt offers to their potential consumers and also keep in contact with them. 

Business Growth

With the support of an e-commerce site, it’s easier to make progress and move forward with your business ideas. Costs are less, targeting is easier, advertising is more available, and by adjusting the content, you are able to point out the products you want to sell. 

Will E-commerce continue to grow?

There is no doubt that e-commerce will continue to grow. According to all statistics, e-commerce is becoming more popular around the world. New technologies, features and digital buyers are continuing to grow, therefore we are able to say that e-commerce does indeed have a bright future.

Are you interested in tapping into the benefits of an e-commerce website? Get in touch with us to learn how we can create a digital space fit for your own brand to grow.