We all use this 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? There are numerous questions which arise when we say the term “eCommerce”, but here we will be discussing the importance and impact it has on our businesses.
1. What is eCommerce?
Any website which sells or buy services, products, or any other form of thing which provides any gain to customers over the Internet is called an eCommerce business or platform.
2. 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 it provides: minimal cost, perfect for startups, real-time data gathering from customers, ease in the launching of new products, etc.
3. What is the importance of eCommerce?
We spend more than ten hours on the Internet while working in the office, and then further three to fours hours for entertainment when we get back 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. In comparison to both, the eCommerce platform gains recognization faster than retailers because of the time people spend on the Internet. The power of the Internet is that, in a short span of time, 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 in shopping for everyday dresses or grocery. People are more likely to buy through eCommerce platform than in a retailer. A reason is that they can avail discount promo codes on shopping which helps them in saving a good amount of money.
- Enhancing the shopping experience – There are whys and wherefores for people inclined towards the eCommerce shopping 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 purchasing 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 – Among various obstacles, quality is the biggest issue. People are skeptical to buy clothes or other things which they otherwise touch and make sure they are paying for the right thing. Though most of the 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 there are multiple protocols and encryption algorithms 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 though 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 buying through eCommerce platforms. Items such as jewelry, precious stones, or anything which want to get customize accordingly.
6. Best eCommerce Platforms:
- Salesforce: previously known as Demandware
eCommerce platforms are essential as they save time and offer everything which is necessary for people to live an ideal lifestyle. eCommerce platforms are easy-to-use, user-friendly, do not require too much money, and modifications, as well as alterations, are comfortable with making. Thus, incorporating eCommerce in business will help you in achieving a maximum number of people globally which is beneficial for your business.
Olivia Hartley is a Content writer and digital marketer at Dealsnado and she is also expert in lead generation.