What is E-commerce and what is E-Commerce business?
E-commerce: buying and selling of products through an electronic medium – like the internet.
Today, when someone refers to e-commerce they are mostly referring to the buying and selling of products over the web. However, any transaction that is completed through electronic measures is also considered to be e-commerce.
E-Commerce Websites
Who’d have thought that computers would be as important as they are today? You can be bet your bottom dollar that most companies are taking full advantage of all the internet has to offer.
E-commerce, or electronic commerce, is the use of internet technology to trade products, services and pretty much anything else you can think of.
Types of E-Commerce
There are three main types of e-commerce: business-to-business (websites such as Shopify), business-to-consumer (websites such as Amazon), and consumer-to-consumer (websites such as eBay).
Here are some E-commerce examples…
Business-to-Business
Business-to-business, or b2b, is the practice of selling online from one business to another, in other words, wholesale.
Business-to-Consumer
Nowadays, a lot of e-commerce is b2c, as it’s easy for businesses to target specific consumers online. Businesses are able to put their products online, allowing the consumer to purchase the products in the comfort of their own home, saving them some precious time.
Consumer-to-Consumer
Remember that shirt you bought? You didn’t have time to send it back to the retailer to return, so where did it end up? At the back of your wardrobe, never to be worn by you.
Why not sell it on? Thanks to websites like eBay, you, the consumer, are able to upload images of the product and sell it on to others that may be interested in buying it.
What are the benefits of using e-commerce alongside your current strategy?
Going, going, gone!
Selling on the web is quick and simple. Many people disregard buying products if they know they need to travel to the store to purchase it.
However, if they know they can stay on the sofa, sipping a cuppa, buying products that will be delivered straight to their door, they’re more likely to part with their money.
Fashion retailers are just one example of how quickly products can sell online. For example, if a customer can’t find their size in a particular store, they’re encouraged to go online.
The Benefits of E-Commerce
The internet is so big; a vast array of products can be stored on it. Unlike a brick and mortar store, there is no limit to what can be stored on the internet. Anything from CDs to beds and sofas can be bought online.
As well as this, there is no limit as to how the products are bought. Many companies are turning to social media channels, such as Facebook and Instagram, to target specific customers and push certain products.
Using sponsored posts on your favourite social media platforms is a great way to increase your sales.
Not Workin’ 9 to 5
The beauty of the internet is that, providing you have access to a wifi connection, it’s available at any time of the day or night! So, if you’re target consumer is up in the middle of the night and can’t get back to sleep, they could end up on your website!
Easy Like a Sunday Morning
It’s now easier than ever to put things online! The simple process is to upload a photo of the object, write a description and wait for the customers to come.
Of course, there’s more that goes on behind the scenes, especially with SEO to help boost your website, but it’s easy when you have help from a great team like ours.
All Over the World
One of the many wonderful things about the world wide web is that it is exactly that – world-wide! Whether you’re in South Africa, Australia or the U.K., you’ve got access to a plethora of websites to help satisfy your online needs.
Know It All!
With an online presence, it’s now even easier to find out more information about your customers. Free online tools, such as Google Analytics, lets you find out how often people visit your website, what pages they click on, how they’ve discovered your website, and much more!
As I said before, it’s completely free! And it’s one of the best ways to learn more about your customers.
Man vs. Machine – The Infinite Battle
Computers are able to store masses of information, available to almost anyone at the touch of a button; however, we, as humans, are prone to forgetting bits of information.
Therefore, having an online presence will help provide your customer with all the information they need to know more about your business.
Nowadays, the majority of customers like to do their research, so what better way to provide all the information they need? Not only does this allow them to make more informed decisions, it’ll free up a bit of spare time for you, too.
E-commerce Jargon Buster Download
If you want to know more about the world of e-commerce, or just brush up on the e-commerce jargon, download our Ecommerce Jargon Buster.
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