eCommerce for businesses and consumers

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

E-commerce is often confused with E-business, but there is a significant difference between these terms. E-business is the most modern form of business organization which implies intensive use of Internet technology,  while e-commerce represents the most popular part of e-business. 

E-commerce experts emphasize several reasons why this type of business is more desirable than the one that doesn’t include technology. Some of them are a better use of all available resources; especially information, the effort to achieve the best position of the company, as well as the desire to make a better business performance.

What are the pros and cons of eCommerce for businesses?

Lower costs – the cost of doing online business is lower because employees are not required at every location; there is no need for security or maintenance personnel. Specifically, employees are only needed when it comes to sales, and everything else goes passably or automatically.

Also, in some cases, if it’s a direct sale, no storage space is needed. That’s the main reason why some prices in online stores are also lower than standard prices in a classic store.

Availability 24/7 – the fact is that e-commerce is open all day. Buyers can visit e-commerce at any time of the day, get information about everything they want to know and buy whatever they want. Such availability increases the ability to earn profits and leads and helps in building a better relationship between buyers and merchants.

International sale of goods and services – everyone who owns e-commerce knows that if they offer quality and fashionable products to a large number of consumers, they can sell them in different countries. With using the Internet, the market is expanded and creates an additional opportunity for earnings.

Personalization – the internet-based business also implies monitoring of customer experience and provides an opportunity for adapting offers, newsletters, and everything else that can help in realizing sales to different customers.

Creating a customer database – when registering in a web shop, visitors are usually asked to enter data about themselves.

Based on the data, the merchant can quickly adapt his offer to his potential buyer and also maintain contact with the same buyer. A mobile application can also help in that process

Business growth – with the support of electronics it’s  easier to make progress and move forward with your business ideas: the costs are smaller, you can point out the products you want to sell approaching the customer is possible by adjusting the content, advertising is more available, and there are a lot of tips and tricks how to generate your leads.

In that process, remember one thing- transparency. You always have to be honest with your customers if you want to boost your sales. Why?

It’s been statistically proven that 60% of users abandon their carts because of the hidden costs they didn’t see before applying for the payment –