Benefits of eCommerce to Business and Consumers
Benefits of eCommerce to Business and Consumers Blog / Benefits of eCommerce to Business and Consumers There are two important things when it comes to a physical store – reaching new customers and communicating with existing ones. If you have a physical storefront, you know that this can be a difficult task. Building eCommerce to sell online is one of the main methods through which you may simplify both aspects. The world is changing and any business that does not change with it faces the risk of fading out and even ceasing to exist. The benefits of eCommerce, incidentally, are far-ranging, and both businesses and consumers stand to gain. What is eCommerce? Electronic commerce or eCommerce refers to buying and selling products and services over the internet. It essentially includes any business-related financial transaction that requires a digital exchange of information. eCommerce may take place through different online mediums. These include marketplaces such as Amazon, eBay, and Etsy; websites owned by businesses; as well as mobile apps. The use of social media platforms like Instagram and Facebook for eCommerce is also on the rise. Looking To Boost Your eCommerce Business Online?Request a Quote What Numbers Say The growth in eCommerce over the last decade has been staggering, to say the least, and there’s no reason for this pattern to reverse any time soon. This is what eCommerce statistics collated by Oberlo and Kinsta have to say. The Benefits of eCommerce to Businesses Businesses that start selling online, either through their own eCommerce websites or through marketplaces, get the perfect opportunity to reach out to larger audiences. Besides, while an eCommerce website gives your business the means to establish a professional online presence, the features and benefits it offers can work in increasing sales and maximizing profits. From a business perspective, several advantages of eCommerce are there for the taking. Reach More Customers If your store is located in an area with less foot traffic, building an eCommerce website to sell online will create a level playing field for your business. If you work with the right eCommerce web development and marketing team, you will get a website that ranks well, and you may expect way more traffic than what you receive at your physical store. Besides, the investment you need to turn to eCommerce is significantly lesser than what you’d need to set up a physical store. Increase Online Visibility A number of businesses run promotions they would like to market, and there’s no better way than through the internet. Most people now find information online and this means businesses need to be where people are looking. Promoting offers and deals on eCommerce sites is easy. Increased online exposure also drives more traffic to your physical store, which comes in the form of people who prefer shopping at brick-and-mortar locations. You also have a better chance of collecting email addresses and other types of customer data by using eCommerce sites. Collecting this information might be difficult at physical stores but easier online, where consumers only need to fill out short forms. Go Global As part of increasing your brand’s online visibility, you may choose to start selling your products/services globally. While a brick-and-mortar store is bound by physical limitations, eCommerce gives you easy means to reach out to a global audience. If, at some stage, you feel that there’s a good demand for your products from any particular country or region, you may even think about offering your website in different languages. The fact that a number of reputed companies offer global fulfillment and shipping services adds to making the process simpler. Quicker Go-to-Market Time No matter whether you set up an eCommerce store by using a platform such as Shopify, Magento, or WooCommerce, you may look forward to a quicker go-to-market time than setting up a brick-and-mortar store. With online marketplaces like eBay and Amazon, all you need to do is create an account before you may start selling. However, if you wish to do away with sharing your profits with third parties, setting up your own custom eCommerce website might be the way to go. This, too, would be quicker than launching a physical store. Upon the launch of your eCommerce platform, getting off to a quick start is possible if you already have an online presence and a social media following that you may tap into. Driving traffic to your eCommerce website in a reasonable time frame is also possible by relying on various digital marketing strategies. Reduction in Costs One of the biggest advantages of eCommerce is that it helps businesses reduce costs by varying degrees. For example, a number of businesses spend substantial sums of money to run physical stores and have to account for costs associated with rent, employees, inventory, and repairs. By turning to eCommerce, businesses have the option of reducing how much they spend on their brick-and-mortar locations, and they may also choose to scale down physically. eCommerce also gives small-scale and individual sellers who don’t have adequate funds to set up physical stores the ability to sell their products/services in a cost-effective manner. Affordable Marketing Another important benefit of eCommerce to businesses is that they don’t have to spend copious amounts of money on television and newspaper ads to market their products/services. For instance, you don’t have to invest in printed catalogs, because your website serves the purposes equally well, if not better. Besides, you may use various other digital marketing tools to boost your brand’s presence. These may include search engine optimization (SEO), search engine marketing (SEM), email marketing, social media marketing, mobile marketing, video marketing, and influencer marketing. Benefits of eCommerce to Consumers Data released by Google indicates that 59% of shoppers use Google to carry out research about online or in-store purchases that they plan to make. By turning to eCommerce, you may give your target audience easy access to the information it’s looking for about your brand and its products/services. Consumers may look forward to other benefits of eCommerce too. Looking to Grow Your eCommerce Revenue?Request a Quote Customers Get the Freedom They Want We live
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