We all use the term “eCommerce,” but many of us are unaware of what this term means. What is eCommerce? What is the impact of it on our business? Is it necessary to incorporate eCommerce platforms into our business? What are the advantages and disadvantages of eCommerce? Numerous questions arise when we say “eCommerce,” but here we will discuss its importance and impact on our businesses.
Advantages and Disadvantages of eCommerce
What is eCommerce?
Any website that sells or buys services, products, or any other form that provides any gain to customers over the Internet is called an eCommerce business or platform.
What does eCommerce stand for?
Electronic Commerce is the full form of eCommerce. Numerous merchandisers, service providers, and others are utilizing eCommerce platforms because of the advantages they provide: minimal cost, perfect for startups, real-time data gathering from customers, ease in the launching of new products, etc.
What is the importance of eCommerce?
We spend more than ten hours on the Internet while working in the office and then three to four hours for entertainment when we return home. Be it buying something from Instagram, selling items on Amazon, gathering study material, or doing research for a startup, all these activities fall under eCommerce. The reason behind the insane growth of Internet consumers, in addition to social media, is eCommerce. eCommerce is at the heart of the Internet.
There are numerous advantages and disadvantages of eCommerce; where they are a massive exposure in the marketplace, there are issues in terms of security and data influx. The most apparent benefits of eCommerce are:
- Getting new customers is a piece of cake – There are constraints in both retail and eCommerce platforms. Retailers use advertising and other promotional things to get market visibility; eCommerce platforms use search engine visibility to spread awareness. Compared to both, the eCommerce platform gains recognition faster than retailers because of the time people spend on the Internet. The power of the Internet is that, in a short period, you will have millions recognizing you.
- Boost in sales is higher in eCommerce – People are busy just like you and me; they do not have time to spare shopping for everyday dresses or groceries. People are more likely to buy through an e-commerce platform than a retailer. A reason is that they can avail of discount promo codes on shopping, which helps them save a good amount of money.
- Enhancing the shopping experience – There are whys and wherefores for people inclined towards eCommerce shopping rather than from a retailer. It is simple: eCommerce platform enhances their shopping experience. You do not have to spend minutes walking through aisle after aisle to get a bag of Doritos – this isn’t the case anymore. Location and suggestions will mention each purchase made online will be made as per customers’ unconventional explorations through an eCommerce site.
Typical disadvantages of eCommerce platforms are as follows:
- Skepticism regarding quality and stuff – Quality is the biggest issue among various obstacles. People are skeptical about buying clothes or other things they otherwise touch and ensure they are paying for the right thing. Though most reviews are authentic, there is no surety of how many are correct and what will be the quality of that wristwatch you saw on social media.
- Issues related to security on eCommerce – Though multiple protocols and encryption algorithms are working behind each eCommerce website, there is no guarantee no one can retrieve them from the site. No matter how much a site says they are secure, there is simply no guarantee. The important credentials, such as your credit card details, residential address, emails, etc., are what hackers are after.
- Various products are tricky to buy through eCommerce platforms – eCommerce is a fantastic facility provided to people who are busy or don’t wanna leave the comforts of home, but with it comes drawbacks as well. Few products are still challenging to buy through eCommerce platforms—items such as jewelry, precious stones, or anything that wants to be customized accordingly.
Best eCommerce Platforms:
- Salesforce: previously known as Demandware
eCommerce platforms are essential as they save time and offer everything necessary for people to live an ideal lifestyle. eCommerce platforms are easy to use, user-friendly, do not require too much money, and modifications and alterations are comfortable to make. Thus, incorporating eCommerce in business will help you achieve a maximum number of people globally, which benefits your business.
Olivia Hartley is a Content writer, digital marketer at Dealsnado, and lead generation expert.