There are a lot of ways to succeed in the world of business, especially in the age of the internet. Businesses, big or small, have the chance to succeed with the help of social media. When you have an online presence, consumers can easily reach out to you and access your products in just a few clicks.
This is where e-commerce comes into play. E-commerce has made shopping convenient for consumers globally, making it one of the greatest innovations over the years. Gone are the days where you could only buy products in physical stores and wait in long lines. With the rise of e-commerce, businesses can easily promote and sell their products without much trouble through websites and online shops.
So when you have plans of opening your clothing store, e-commerce is your perfect choice in kick-starting your business career. It has become one of the best strategies of marketers and businessmen in establishing a customer base, helping them reach success against their competitors.
What is e-commerce?
E-commerce, also known as internet commerce or electronic commerce, is the buying and selling of products and services through the use of the internet. Most of the time, people use their credit cards or credit cards to purchase goods, making transactions quick and convenient on their end. E-commerce has allowed buyers and sellers to communicate in real-time, wherever they are in the world.
No wonder why e-commerce is constantly gaining ground in the world of marketing and business. It has helped a lot of entrepreneurs, freelancers and shop owners sell their products without having to open a branch or a physical store. Customers can easily find them online in just a matter of minutes.
Here are the most traditional e-commerce models you should know:
- Business to Consumer (B2C)
- Business to Business (B2B)
- Direct to Consumer (D2C)
- Consumer to Consumer (C2C)
- Consumer to Business (B2C)
Benefits of e-commerce
Whether you’re a consumer or a seller, e-commerce has a lot of benefits you can take advantage of. Online shopping has become a part of everyone’s lives, letting customers buy products in just a click and helping sellers easily boost their sales.
Consumers
Convenience
There is nothing worse than having to wait in long lines and deal with crowded places when you just want to buy a dress and go straight home. You have to shop in different stores to score great deals and find the exact product you’re looking for. When the day is about to end, you feel way too exhausted before you can even enjoy the products that you’ve purchased.
However, because of e-commerce, you can buy your favourite clothes and accessories without leaving your house. You can enjoy your favourite TV show while visiting different stores and comparing prices. Bad weather cannot stop you from going on a shopping spree! Your orders will also be delivered to your front door. And if you get the wrong product, you can return it or get a refund.
With e-commerce, your favourite stores are open 24/7. You don’t have to worry anymore about their closing time. Just add all your orders to your cart and check them out any time of the day.
Wide selection of goods
One of the best advantages of e-commerce is it provides you with a wide range of products and services you cannot find in your area. You can discover stores anywhere in the world without having to spend a fortune on plane tickets. A few clicks can already help you expand your choices and view great offers!
With the help of e-commerce, you can now buy your favourite designer brands from Paris, shoes from the United States and rare books from Japan. The latest products on the market are just on the tip of your fingertips, so it’s time to press that checkout button as soon as you can!
Complete information
Through e-commerce, online stores provide you with complete information about the products you’re about to purchase. You can read the details on warranty, conditions, return policies and other product information. This information will let you know if a product is worth buying or not, helping you save yourself from a lot of headaches.
E-commerce will also allow you to read reviews from previous customers to let you know if you’re buying from a reputable store. These reviews can help you take note of online stores that are giving the best service and quality to consumers.
You can also track the delivery status of your orders to know if they have been shipped by the seller. In case an issue arises, you can instantly reach out to them via email.
Sellers
Cost reduction
Have you always wanted to own a business but don’t have enough budget to open a store? If so, then you don’t have to fret anymore. With e-commerce, you can sell your products without having to open a physical store! Gone are the days where you have to pay for repairs, maintenance, rent and inventory costs just to keep your business going. You just have to create an account for your store, put up your products and gain new customers every day. Having an online store won’t require you to invest hugely, helping you save a lot of money.
Also, if you’re an independent freelancer looking to promote and sell your services, e-commerce is your friend. You don’t need start-up capital to kick start your business. With e-commerce, earning an income becomes easier and more convenient.
Easy advertising
You won’t have to spend a fortune just to promote your brand and reach out to your customers, especially when you’re just starting as an entrepreneur. The industry of e-commerce offers a lot of free marketing tools you can use to promote and sell your products. Even the simplest blog posts and witty slogans you post on your social media pages can already help you raise brand awareness.
You can make infographics, videos and photos as your marketing tools. Unless you are a big corporation, there is no need to hire a marketing team to endorse your services.
Flexibility
Want to go on a vacation for a month without having to pause your business operations? E-commerce has your back! When you opt for online selling, you can operate your business even if you are miles away from home. You can access your online store wherever you are, process orders and get in touch with your loyal customers, helping you establish a good reputation as a seller.
For as long as you have a gadget and a stable internet connection, then you can always keep your business going. Your e-commerce business will continue generating income, no matter where you are in the world.
Tips for a safer online shopping experience
With the growing demand for online stores and e-commerce businesses, a lot of customers have chosen to buy their products on the internet. However, even if this is the most convenient option when it comes to buying goods, you should take extra precautions. Keep in mind that online transactions don’t always go smoothly, so be careful before pressing that checkout button.
Follow these useful tips on how to safely shop online:
Choose a strong password
Most of the time, online stores will require you to make accounts to keep transactions smooth and easy. Always think of a strong password to keep your personal and financial information protected. A lot of cyber thieves can easily access your account and steal your data if you’re not too careful.
When choosing a password, make use of complicated combinations. Combine uppercase and lowercase letters with characters to make it more unique. Refrain from using the name of your favourite band or your birth date. They are easy to guess, making your account vulnerable to hackers and thieves.
Only buy from trusted sellers
It is highly recommended that you only purchase items from online stores with a good reputation. This will prevent you from having to deal with defective products and refunds. And if you encounter a problem, you can instantly contact the seller and discuss your issue.
However, if you want to try supporting other online shops, do some research first. Before making a purchase, make sure they have good reviews from their customers. Always take extra precautions!
Don’t give too much information
When buying products online, every seller will ask for your name, contact number, shipping address and email address to complete the transaction. However, if the seller is asking for your social security number and bank account details, it is a red flag that you should run away from.
Always be careful when giving away your information. If cyber thieves get a hold of your private information, they can put your identity at risk.
Keep track of your orders
Once you make a purchase online, a tracking number will be provided to you. This can help you verify if the order is on your way, providing you with a more transparent transaction from your seller. And if ever your package gets lost, a tracking number is a helpful tool in finding it and having it delivered to your doorstep.