E-commerce operates in different market segments. Almost all products and services that we can imagine (techniques, books, music, tickets for any means of transport, financial services, etc.) are available for payment via e-commerce. And with the development of the Internet, companies that have an online presence will be competitive.
In a broad sense, when you buy or sell something online, this is ecommerce. That is, electronic commerce is the purchase and sale of goods and services via the Internet.
Online payment options
Rice. 1 – Online payment options
In simple terms, e-commerce is any transaction made from an electronic device (smartphone, tablet, desktop) that has access to the Internet.
That is, the seller uses online means to promote his products on the network, the buyer views the provided trade offers on the website or in the application, chooses the desired goods or services and pays for the order directly on the network.
Advantages of e-commerce
Let’s highlight the most important advantages of buying anything online.
Round-the-clock availability. E-commerce sites are available 24/7 (except for scheduled maintenance or outages), making shopping easy. Offline stores, on the other hand, work according to a certain schedule (and not always every day).
Access speed. As a rule, e-commerce sites work quickly, but in an offline store there may be queues. Website pages load in a few seconds, and the ordering process takes less than 5 minutes.
Wide assortment. Any marketplace has a much wider selection of products than its offline representative. After all, there is no need to store each product unit on the shelves of a physical store. E-commerce allows you to offer goods that are in the company’s warehouse (or at suppliers). Stores that exist exclusively on the Internet can offer consumers an assortment that is not available elsewhere, thus creating exclusivity and a sense of limited supply.
Easy accessibility Customers in offline
stores may have difficulties in finding a certain product or its modification (reason – see point above). Customers of online stores can view product pages in real time and use the search on the site to find a product and find out if it is available, if it is possible to deliver to their city and within what time it is carried out.
Product availability in the store at a specific address
Rice. 2 – Availability of the product in the store at a specific address
International coverage. Offline stores sell goods to those who visited a physical representative office. Shops with connected e-commerce have customers all over the world (if companies ship internationally).
Delivery options (international and domestic)
Lower cost. E-commerce businesses avoid
the costs associated with running offline stores (rent, inventory, staff salaries, insurance, property taxes, etc.). The cost of online work is often lower. However, online stores have to worry about shipping and warehousing.
Personalization and product recommendations. E-commerce sites may track users’ browsing, searching, and purchasing history on the site. They can use this data to provide personalized product recommendations. This is implemented by the function Buy together , Similar products , Products from your wish list are back in stock, etc.
The section may interest you
Rice. 4 – You may be interested in the section
Redirection of customers. While browsing the online storefront, it’s easier for stores to draw users’ attention to targeted ads and pop-ups on the site.
Promotions in the pop-up window and Similar productsPromotions in the pop-up window and Similar productsPromotions in the pop-up window and Similar productsPromotions in the pop-up window and Similar products
customer support with all plans. Our database can help email data you take your business to the next level. You find the right Email Data for your products and services, our Phone number library is 100% accurate and quality. Our Email Data combines what the advertiser collected from authorized sites (having a good quality or quantity of database, using it, you can earn leads) to promote your business and increase sales.
Capturing the attention of a consumer who has already visited the site and offering him other products is easier and cheaper than attracting a new client from the Internet.
Disadvantages of e-commerce
E-commerce is a convenient model of working online. However, it also has its drawbacks, which are discussed below.
Limited customer service customers
have questions about a product in an offline store, they turn to an on-site consultant for help. Online shopping sites also have the option of asking for advice, but a store employee can only provide support during certain business hours. Chatbots with online help can be difficult to navigate or unable to answer specific user questions.
Inability to touch the product. Viewing the images on the page (or even a 3D tour) can give an idea of the product, but in reality the picture may differ from the expectation. And then the product will have to be returned (and usually the return is at the expense of the buyer.
Waiting time. In a physical store, the customer pays for the product and immediately picks it up for use. You will have to wait some time for delivery in the online store.
High competition. Online competition is higher than offline precisely because of the low market entry threshold (see Advantages). Therefore, businesses must have a well-thought-out online strategy and engage in SEO promotion in order for the site to be competitive.
Security. Anyone can create a site that is authentic to namibia phone number resource yours and make money from it using fraudulent methods (from sending fakes to buyers to stealing users’ personal data, including credit card data). Legitimate e-commerce sites also carry these risks (if such a site is hacked, customer data will fall into the hands of fraudsters). A data leak can damage a seller’s reputation.
There are many disadvantages, but the significant advantages of e-commerce cover them.
Types of electronic commerce
There are 6 main types of e-commerce. Their main difference lies in the parties that interact with each other (supplier, consumer, administration/government).
B2C . B2C e-commerce companies sell goods and services america email directly to the end consumer – the person who will use the purchased product.
The B2C type of business model is used to sell goods (home appliances, clothing, etc.), services, or information (such as a mobile app for fitness training). The B2C model is the most common. This is what the vast majority understand by e-commerce.
