This article is for you if you sell products or services but do not yet sell online or if you are planning to have one. Due to the pandemic, more people are avoiding physical stores, which has boosted e-commerce growth. Many physical stores have improved their website functionality to make it easier to shop online. By 2023, global e-commerce sales are detected that it could reach almost $7 trillion, accounting for 22% of the total retail market.
What is E-commerce?
The most basic definition of e-commerce is commercial transactions conducted over the internet or internet commerce. Essentially, it is nothing more than online purchasing or online shopping. If you’re one of the millions of Amazon customers, you’re already familiar with e-commerce from the consumer’s perspective.
Types of Ecommerce
| Business to Consumer (B2C)A company sells directly to consumers and Amazon is an excellent example. | Business to Business (B2B)A business-to-business model is one in which one company sells to another. We associate this business model with wholesalers outside of the internet. It is, however, also used by companies that sell ready-to-use software to other businesses. |
| Consumer-to-Consumer (C2C)This method involves consumers selling directly to one another. Some platforms allow customers to create online stores where they can sell items they already own or items they find elsewhere. | Consumer-to-Business (C2B)A consumer sells something to a business using this method. Some artists, for example, sell their work for display in other businesses. When photographers sell photographs to stock photo companies for use online, it is also C2B. |
How does E-commerce work?
Basically, your customers will show up at your website after searching for a product you sell on a search engine. They could also have clicked on a paid advertisement, a social media image, or a recommendation from a friend. Your eCommerce website then displays your listed products, complete with images, descriptions, and prices. The customer browses, chooses a product, and adds it to their virtual shopping cart. If they decide to buy something, they will proceed to the checkout page. Once they check out the items they want to get, they will be directed to the checkout page and there they will have their orders processed, they can use Paypal, cards, bank, or other wallet options on the website for payment. Once done with the payment, then, your website will give the customer their order information such as the estimated shipping times, postal tracking numbers, or other details they require to track their purchase. Then, the next step for eCommerce services is order fulfillment – or the actual process of getting the goods delivered. Depending on who stores and ships the product, it could be an in-house team or outsourced to an order-fulfillment company. The final step is for the product to arrive at your customer’s address. You want to make sure the customer is happy with the product and service they received, so send them a survey after the order is delivered to get their feedback.
Want to create your own E-commerce store?
If you are planning to start your own E-commerce business, then start with what product you are going to sell. You can choose whether it’s a digital one or a physical product, however, you must also think about if you will be the one to manufacture it or rely on getting it from a manufacturer directly. Start researching how you will obtain the product and how you can save also, research what’s the most efficient way to get the product without paying too much. And if you believe you have a viable e-commerce idea, it is time to start working on your store. Investigate the competition and their prices, this will give you a good idea of what you can charge and how much it will cost you to fill your inventory. Also, before building your store, you should have a domain name in mind. Your store should be simple to use, with detailed product descriptions and eye-catching visuals. Finding your customers will allow you to prioritize your eCommerce marketing tasks and increase your revenue.
Need Help?
When planning to start your own E-commerce business, it isn’t about just doing it by yourself. Sure, you can do it alone but do you ever think about having help from an expert that will help you grow your business while you focus on the most important and profitable parts of your business? Starting a business also means making some investments. And yes, having someone to do repetitive tasks for you such as data entry, customer service, product listings, market research, and, social media management will surely free you from everyday struggles. Virtual professionals from Workergenix are one of the best options to get. Learn how to expand your business with them. Consult a business expert to ease your mind.
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