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Ecommerce is the activity of doing business activities on the Internet. It refers to buying and selling products and services on the Internet through a website. Ecommerce is short for electronic commerce. Also known as an online store, an ecommerce website has features that make it easy for customers to browse for products, pick them out, put them into a trolley, and then pay for them at checkout.
Many people are moving from physical stores to buy goods and services on the Internet. Today, 60% of shoppers in developed countries go to the Internet to buy goods and services. This method of shopping is loved because it is convenient. People can shop from the comfort of their houses.
Unlike a regular brick and mortar store, an Ecommerce store stays up and running 24/7. Customers can get online and buy products at any time of the day. There are many benefits that ecommerce gives businesses. Read on to learn more.
Comprehensive descriptions of products
An ecommerce site provides its customers with data sheets that contain all the features and characteristics of products. This datasheet can also contain ratings given by other customers who have already bought this product. Also known as a product catalog, this document gives the customers all the information they need about the products that they want to buy. Armed with this knowledge, the customers can make informed decisions as they buy products.
The customers can also go through the details of each product before they buy it. They can read its ingredients and get background information about its manufacturers. This is next to impossible in brick and mortar physical stores. As such, an ecommerce store provides its customers with up to date information about its products and this is very helpful to customers as they make the decision to buy a product.
It is available through the search engines
Physical shopping stores thrive due to efforts of branding and the relationships that the owners of the stores create with stakeholders in their industry. An ecommerce website thrives then receiving large amounts of traffic from search engines.
Billions of people use search engines every day to find products that they want to buy. With a physical store, it is very difficult to reach such a large market. However, an online store can easily accomplish this. By having an online store, a business can reach many more customers than it would with physical stores.
According to studies, most people click only on the links that appear on the first page of search engine results. They never go to the second or third page. As such, it is very important to ensure that your ecommerce site shows up on the first page of results. This can be accomplished by performing an activity known as Search Engine Optimisation (SEO) on the ecommerce site. This activity helps your online store to be more visible to the programs that find results for those who search for things in the search engines. When your online store is on the first page of results, you are able to get many customers and gain more revenue for your business.
Reduce the cost of maintaining and managing inventory
In a physical store, there are numerous costs that are involved for the purpose of managing the inventory. It costs time and money to manage inventory. Physical means of managing inventory are tedious and costly. However, it is easier and cheaper to manage inventory in an ecommerce website.
An online store provides its owner with facilities and features that can be used to automate certain responsibilities. An example of such a responsibility is inventory management. There is a web-based system through which you can automate the inventory in your website. Once you automate it, the system will manage inventory for you. This allows you the time to do other things and also reduces the operating costs of your online store.
Record and refer to the buying habits of your customers
In the world of business, information is power. The buying habits of their customers are very important for a business. In a physical store, it would be quite difficult to analyse the items that each customer bought as well as how frequently they bought these items.
However, an ecommerce store makes it very easy for you to see the purchasing patterns of your customers.
The website is able to record the activities of each person who visits it. The website can record the items that were viewed, the pages that were visited as well as all the items that were bought. By using this information, the owners of the online store can learn what their customers desire most then provide it.
By accomplishing this, the owners of the online store are able to make their customer relations better. The ecommerce store remains well stocked and customers are able to find what they want. As a result, they are satisfied and keep coming back.
It is computerized, hence extremely competent
An ecommerce website can keep selling goods and services throughout without getting worn out or getting slow. This is because the whole system is computerised . It is effective and always accurate. As such, when a customer orders a certain product, they will get it delivered to them.
The ecommerce store is able to manage its own inventory. Moreover, the cost of starting one of these stores on the Intern t is quite low when compared to the cost of building a physical store. You need minimal licenses or permits to get your online store up and running. Moreover, you do not have to rent a space for your store.
One of the ways through which online stores can save money in terms of maintenance costs is having fewer employees. The system is online and fully computerised. As such, very few employees are needed. They are required for jobs that the computers cannot do on their own for example answering questions that have been asked by customers. Generally, an online store is easier and cheaper to run than a physical store. Thus, it generates more profit for a business.
Image by IvanWalsh.com via Flickr.