Let’s get into various aspects of electronic commerce to gain a better understanding of the concept of E-commerce.
Firstly, “E-commerce” is termed “Electronic Commerce”.
Secondly, As clear from the name it is an online trading system. Moreover, E-commerce simply means the trading of goods and services on the internet through some online purchasing apps or an online medium. As it completely changes our brick-cement shops to a digital market on a single computer. Furthermore, Nowadays online market hype has increased up to billions of transactions in a few months.
Additionally, it is performed with some models. These are discussed in detail in “E-commerce Models”.
Furthermore, E-commerce is not only for business it is for every individual. DO YOU KNOW WHY? E-commerce is better than traditional commerce. Because It allows everyone to start their store or market in their place of comfort. Many of them have started their own start-up business, small companies, to sell their products online and reach customers across the globe.
“Don’t you think? How does e-commerce take place and how does it route its products online? Let me tell you how.”
It is online possible with the channel system. E-commerce uses some channels to promote or display its products and then deliver its products through transportation channels.
Lastly, There are many channels Some of them are:
Is E-commerce a Business or a Marketing work?
Besides An E-commerce business is getting profit from selling their products online and earning huge revenues without paying any extra cost. e.g.- it can be of any type, such as a clothes business, a software business, utensils, baby clothes, or home decor. Moreover, to run an online business, you just need a website and multiple channels to build a great business online. Furthermore, an e-commerce business is a company that gets revenue from selling products or services.
Finally, we can say that e-commerce work is to make a perfect place to sell your product, such as websites, applications, and social network systems. such as it creates an online market. So we can say that, it is both a business work or a place to market because it can seen as a trading platform for the market as well as a profitable business platform.
Google also provides its certified course named “Google Digital Marketing & E-commerce Certificate“
| Advatages of E-commerce | Disadvantages of E-commerce |
|---|---|
|
Global Reach with e-commerce |
Security concerns |
|
Available 24 hours |
Lack of tangibility |
|
Discounted rates are always available |
Shipping costs can be more |
|
Convenient for everyone |
Delays in delivery, sometimes wrong delivery can cause disputes |
|
Moreover, there will be Varieties of products every time.
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Technical issues can occur transaction problem |
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personalization is present. |
Lack of trust in online buying |
“On top of that, In Online Business, there are some 5C’s which are very important for any marketing strategy.”
| BASIS | TRADITIONAL COMMERCE | E-COMMERCE |
|---|---|---|
|
Introduction |
Traditional commerce is the selling and buying of products
at the physical market or local place. |
The trading is not physically performed by going out rather then it is performed in our homes or comfort places. |
|
Tangible Presence |
The product is physically present in front of your eyes, so you can test it at a time. |
The product is not physically available as you cannot touch the product. |
|
Testing |
Product testing can be done at a time. |
Product testing cannot be done at purchasing time. |
|
Scope |
Furthermore, It has a limited audience reach. |
It has a wide audience reach it can be accessed globally. |
|
Overhead costs |
Presence of overhead costs like – electricity bills, product management, Labour costs, etc. |
There is only a gadget cost
It can be started from a computer and a good internet connection.
|
|
Personal interaction |
There is a personal interaction between a customer and a seller as a result the product can be verified by the customer directly. |
There is no personal contact between the customer and the seller. |
|
Availability |
The market is only available at business times. 8/9 hrs. |
This market is available every time.24/7. |
|
Secure |
Security depends on physical products' safety and money transactions. |
Security depends on transactions, data privacy,
Trust & also reputation.
|
|
On-time product delivery. |
Additionally, the products can be delivered at a time that is convenient for you. This way, you can take them with you whenever you need them. |
Here, Products can reach within a few days or sometimes a month. |
|
Maintenance costs |
Additionally, the startup cost is put into building a shop, hiring laborers for every work, and getting products in bulk. |
Startup cost is included in only setting up the devices. Additionally, internet connections are needed. Furthermore, building channels is also a necessary part of the process.
|
How an e-commerce business can give you success?
If you want to be an entrepreneur in the E-commerce field you need to focus on some points
HAVE GENUINE AND QUALITY PRODUCTS:
Nobody wants to buy low-quality at any cost. Additionally, The quality of a product is the heart of online business if you have quality customers will reach out to you again and again.
VALUABLE BRANDS:
Furthermore, regarding product quality, if you are selling your products online then your brand name and logo must be unique and clear. In addition, it should be very interactive, and the logo should be relatable to your product. Moreover, You need to learn branding techniques to boost your brand. You should know the tricks. Such as How to sell a product online. What types of products are in demand?
FOCUS ON CUSTOMERS:
All above, Make customers a priority. Your website should be made with an aspect of a customer. If you are a customer what do you need to be on a purchasing website: How can I send feedback on a product? How can I track my product? Where I can see my favourite clothes in any app? How to make a product more informative.
BETTER EXPERIENCE:
“Moreover, E-commerce is all about the best experience and buying or selling products in your comfort zone”, with the best application experience where anyone whether a tech person or a layman can easily buy or sell products your online market should be user-friendly. It should not buffer or be late in any actions. Your channel of selling the goods should be free from errors. If any error occurs it should give some troubleshooting message to inform customers to retry again.
SECURITY:
On top of that Security, is the main concern where you can get the trust of customers, but you might be thinking, “How to secure a website or an app?” It is easy, Furthermore, implementing two-factor authentication can add an extra layer of security. In addition, regularly updating the security measures can help in protecting the website or app from potential threats. Also, continuously monitoring and analyzing the security measures can help in identifying and addressing any vulnerabilities.
CONCLUSION
Moreover, e-commerce has revolutionized the traditional retail industry. Additionally, it has provided opportunities for entrepreneurs to reach a wider audience. On the other hand, e-commerce has also created competition for brick-and-mortar stores. Furthermore, it has changed consumer behavior by offering convenience and accessibility. Consequently, e-commerce has become an essential part of the global economy.
