Would you like to build an e-commerce empire? Are you looking for the key to success? Then, there is no doubt you are in the right place. Online selling opportunity helped many businesses to earn more money and popularity.
Also, it the best way to grow your business by following the latest trends. But not everyone will enjoy the sweetest topping. It preserves for those who exactly know what to do and when.
We designed this article with the top ten benefits that one will get after owning an e-commerce website. However, running an e-commerce business still requires a lot of planning and works. Once you have got your product idea, pick the right strategy to design the framework.
Money? It will come under your pillow automatically. A wiser saying that
“Ecommerce isn’t the cherry on the cake, it’s the new cake”
—————— Jean Paul Ago CEO L’Oreal
What E-commerce Website Is?
It is the most basic phase to start this article. According to our research, most business owners are still unaware of the basic concept of the e-commerce website. But we are not going to give you an educational tutorial here. We will only make sure that you can pull your knowledge slightly up by reading this phase.
You may have heard about the name of Magento. If yes, then hold your thoughts for a while. Let us share an excellent quote with you that delivered by the CEO of Magento.
“We’ve been very frustrated with the state of open-source eCommerce.”
we knew it could be done better.”
——————– Roy Rubin
For your understanding, Magento is an e-commerce platform that empowers thousands of entrepreneur, retailers, and brands with so many flexible business opportunities. It is an open-source technology that offers powerful plug-ins and themes. Globally, more than 190K websites are powered by Magento platform.
Ok, now move to our earlier point, which was our primary concentration. According to the basic definition, an e-commerce website is a platform that allows clients to buy and sell products and services over an electronic medium.
But if you are looking for a vast, then the below definition will show you the exact light you are looking for. According to another Giant Shopify,
“Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and transferring money and data to execute these transactions”.
In 1994, a person made the first online transaction by buying a pizza. In that time, it was a dream for many brands to shift their business on a new platform. And now, the platform is open for all of us to showcase our brands. Truly, the business has transformed the way we shop today.
Which Type Will Go With My Business?
So, you have successfully overcome the learning phase. Now, its time figure out which e-commerce type will go with your business. For your convenience, let me inform you that there are four types of e-commerce models available.
You can label each type differently depends on the functionality.
However, no matter which type goes with your business, every transaction will occur between two parties: consumers and business.
Let’s have a look at four E-commerce models:
- B2B (Business to Business)
- B2C (Business to Consumer)
- C2C (Consumer To Consumer)
- C2B (Consumer to Business)
As we mentioned earlier, each model signifies unique attributes. So, picking any of them won’t serve your exact needs. And, our professional team are here for helping you to know the score. We will analyze your business ins and outs, target audience, goals, etc., to suggest the right module.
So, please write to us your untold business story and your pain before your competitor does it.
How To Build An E-commerce Empire?
Building an empire takes a lot of time and effort. There is a saying, “Rome wasn’t built in a day.” So, every entrepreneur needs to push themselves harder to create great things.
But here comes the hardest part.
Yes, we are talking about research and evolution. The research work should be precise to bite the yummiest piece of the pie. You must conduct research exhaustively on the consumer and market demands.
Additionally, you have to walk across specific steps to get the finish line. Steps are many. But the primary stages will be the same for every business owner. The process starts by deciding the product or service that matches your vision. However, set the goal wisely before diving into the vast world.
After having the starter, it’s time to choose the main course. You can have a look at this checklist before starting your first e-commerce business online.
Lastly, it is recommended to choose the right e-commerce platform and development company to create interactive and user-friendly online stores. Along with Magento and Shopify, many experienced development platforms there that will suit your business needs.
Furthermore, you will also get professional help from Ascii System where the team deals with many projects using the diverse framework.
E-commerce Still Has Customer To Win (Statistics):
The recent report of Statista shows that the UK is one of the most advanced e-commerce markets in the world. E-commerce is mainly doing well in densely populated and developed markets like the UK, Japan, US, Germany, etc. The market penetration rate is almost starting from 74% to 84%.
On the other hand, the retail sales on the internet in China already makes up more than 50% where the other countries are still struggling to break the line of 30%.
Though the market is growing steadily, the experts predict that retail e-commerce sales will reach 22% by 2023.
Here are some significant figures:
- The mobile e-commerce retail sales expected to reach $3.5 trillion by 2021.
- In 2017, almost 42% of online shoppers preferred to pay with a credit card.
- Around 30% of digital buyers are Millennials.
- Approximately 28% of buyers avoid to checkout for unexpected shipping cost.
- To make the purchase decision, 55% of shoppers find online reviews important.
So, you can happily enjoy having an e-commerce site to sell your products and services to the end-users. The business type won’t be faded away sooner or later. Rather, it will become the most popular online activities worldwide.
Profitability To Have An E-commerce Website:
The internet is a powerful platform from where you can gather information regarding the e-commerce website. Millions of people are there who are searching for the benefits of owning an interactive e-commerce platform.
Additionally, the platform also gives your customers reasons to stay on your site. More interestingly, one will get almost all things under one roof if you have a multi-vendor website. However, it depends on the category of your business.
The below advantages will help you to determine if starting an online business is right for you. On the other hand, customers can visit your virtual shop at any time.
- Easy To Overcome The Geographical Boundary: Yes, you heard us right. An e-commerce website has no limit to grab customers until unless you have an oversea delivery issue. Anyone can order from anywhere at any time, which is impossible in a physical store. Furthermore, you don’t need to present at your place to sell your goods and services physically. On the other hand, customers need to have a super-fast internet connection to place selected order.
- Spread Wings To Expand Your Business:Your business will get wings after having a vast platform like e-commerce. You can focus on spreading the business globally along with the local market. It is necessary to get fame from the local market, though, and it will get an extra boost if it becomes popular globally. The journey of becoming a Brand starts here.
- Low Cost To Operate:The business operation cost is way more minimal then maintaining a physical store. Here, your employee can do remote work. Even, you can hire employee according to your business needs.
- Count Money At The Midnight: Isn’t it amazing to count money at midnight? Yes, E-commerce will help you to make potential money 24/7. Moreover, you don’t have to hire an employee for serving customers at night. Automate your ordering system so that your potential buyers get confirmation after placing a successful order.
- Access To The Customer Data Easily:You whether count or not, targeting the right customer is a need for a business. Here, the e-commerce business will craft your task precisely. You can access to the customer data easily. More importantly, it will help your marketing team to understand their needs and preference. Moreover, you can get your customer’s name, mailing address, email address, and phone number in eCommerce. You know what to do now, ahh! Yes, these data will open a different window to build a good relationship with your customer.
- Grab The Best Facility Like Dropshipping:Do you like to introduce your business out of the local market? The best way is to dropship like AliExpress. You can discover your buyers from any corner of the globe, whether in the UK or Siberia. Dropshipping allows you to price and ship your products competitively to a worldwide audience. Moreover, it will be easy for your team to handle a high number of orders. So, no waiting time, no extra headache.
- Get New Customers:Do you want more customers for a business? You can bring traffic to your business through Search Engine. So, look you are enjoying the best feature by adopting an eCommerce business. Not only the Search Engine, but social platforms are also open their path. Customer will walk through that lawn to introduce with you.
- Easy To Locate Products:After opening an e-commerce site, you will get various products decorated in different categories and sub-categories. Customer can pick from the drop-down menu or can search to find their desire products. No need to run here and there to fill your shopping basket. Open the site, take your list, search the name, and through these to the shopping cart.
- Easy To Rebrand Your Products:Are you thinking to rebrand? Now it is convenient for you. Not even the single product, you can also rebrand your e-commerce store by changing the logo or colors. It is the best way to level up business trust in front of your customer.
- Better Customer Support:We have mentioned earlier that you don’t need to set a person to serve customers at midnight. Automation will save you time and effort. Moreover, now educating customers is easier than before. A single video will solve their problems. More than 90% of customers looking for some common questions. Gather all the question in one place and try to solve those. So, less concentration on mobile and more on generating sales.
If you think that these all benefit you will get to have an e-commerce website, let me pop the balloon first. There are many more advantages to owning an e-commerce store. Those won’t fit in one article so; we pictured a few those are the major ones.
Compared to other offline businesses, having an online store is more cost-effective. It also reduces the travel time and cost of customers. Furthermore, a client can have the benefit of multiple payment methods. So, an e-commerce website or store is beneficial for both parties: customers and owners.
Are you convinced yet that you should sell online? If you are, reach us for more resources that will help you to get started.