ALL ABOUT ECOMMERCE!
WHAT IS ECOMMERCE?
Electronic commerce (eCommerce) is a business strategy that allows consumers and businesses to buy and sell goods and services over the Internet. Ecommerce can be done on computers, tablets, smartphones, and other smart devices, and it operates in four key market categories.
After going through this article you will know what eCommerce is all about and Why you should consider starting an online business/store.
Consider how you used to shop 10 years ago. It used to be hard to shop without being present physically, but now you can't afford to go into a store and buy a soda! eCommerce has both benefits and drawbacks in its own right. What store did you go to get your clothes? What method did you use to get your groceries? When it came time to buy a pair of shoes, how did you go about it?
Innovative eCommerce enterprises have redefined what is possible and changed the way we shop today.
4 TRADITIONAL BUSINESS MODELS
B2B - BUSINESS TO BUSINESS
A firm sells its product or service to another business in a B2B business model. The buyer is sometimes the ultimate user, although most of the time the buyer resells to the consumer. B2B transactions have a longer sales cycle, but greater order values and more repeat orders.
Late in 2018, Forrester estimated that the B2B e-commerce market had reached $1.134 trillion, up from $954 billion in its 2017 prediction. That's almost 12% of the overall $9 trillion in B2B sales in the United States for the year. By 2023, they predict this number to rise to 17%.
B2C - BUSINESS TO CONSUMERS
Businesses that sell to consumers are known as B2C. Because the B2C model is the most frequent, there are many other approaches. Any purchase you make as a consumer at an online business – think clothing, household necessities, and entertainment — is a B2C transaction.
Because of the shorter sales cycle, B2C companies spend less money on marketing to achieve a sale, but they also have a lower average order value and fewer recurring purchases than B2B companies.
And B2C doesn't just refer to items; it also refers to services. B2C innovators have taken advantage of technologies such as mobile apps, native advertising, and retargeting to promote directly to their customers while also making their lives easier.
C2B - CONSUMER TO BUSINESS
A consumer-to-business model, or C2B, is a type of business in which a customer or end-user sells a product or service to a company. Consumers benefit from flexibility, direct payment, and free or reduced-price products and services in the C2B model, while companies benefit from consumers' willingness to name their own pricing or contribute data or marketing to the company.
Recently, this approach has been creatively used to connect businesses with social media influencers in order to sell their products.
C2C - CONSUMER TO CONSUMER
Customer-to-customer (C2C) is a business concept in which customers trade with one another, usually over the internet. Auctions and classified advertising are two examples of C2C markets. In the early days of the internet, companies like Craigslist and eBay pioneered this concept.
BENEFITS OF E-COMMERCE
There are many benefits of eCommerce business but once you get into the eCommerce business there are some scalable benefits and some of them are listed below.
Easy access: Ecommerce is the most convenient and accessible way to shop. Customers can get exactly what they need from their PC or mobile device at any time. More ease for the customer means more revenue for your business
Transactions through the sea!: Transactions at physical stores are limited to certain geographical zones. When compared to a physical business, eCommerce stores allow worldwide transactions and allow you to access potential clients all over the world, which means more revenue may is earned.
Personalized store: You can maximize the number of modifications you require with an eCommerce store! You provide clients with things they're most likely to be interested in, improving your business's revenues, with AI-enabled up-selling and cross-selling. You can also customize the appearance of your store! When the user experience is improved, your store might rise to the top of the SERP, resulting in more repeat consumers.
Scalability: You can extend your eCommerce enterprises to accommodate additional sales as your consumer base grows. Instead of relocating or upgrading your physical store (which might be costly), you can simply raise the bandwidth on your eCommerce platform to accommodate increased traffic and orders.
Effective marketing: You can automate processes like search engine optimization, paid or organic social media ads, and so on instead of conducting physical marketing like printing ads and driving actual customers to stores. This alleviates the stress of driving traffic to your eCommerce site and can result in some high-quality leads and transactions.
WHAT DO WE DO WITH ECOMMERCE?
We can make you a millionaire in just a click! No, that's a clickbait never fall for that kind of word.
We are a group of techies who can assist you in bringing your offline business online. To put it another way, we can build an eCommerce store depending on our clients' needs, with both frontend and backend assistance. We've specialized in making eCommerce businesses work smoothly and error-free, and if there's a problem, our support team will assist consumers with the eCommerce website's functionality.
WHAT DO WE PLAY WITH?
Have you heard of the phrase Magento before? If you answered yes, you've arrived at the right place! Magento is a framework that we use to create eCommerce websites. Magento is an open-source e-commerce platform that gives online retailers a customizable shopping cart system as well as control over the appearance, content, and functioning of their online store. Magento's marketing, SEO, and catalog management features are all extremely robust.
There are a lot more things we do with Magento, you can check this out to find out what actually Magento is. Also, you can find the case study about one of our projects with Magento 2 for a client called firestormgraphix
SOME OF THE ECOMMERCE PLATFORMS/FRAMEWORKS WE ARE OBSESSED WITH
Oscar Commerce, Saleor eCommerce, Odoo eCommerce
Nopcommerce, Sitefinity eCommerce, Ucommerce
Magento 2, WooCommerce, Shopware
THE BOTTOM LINE
Is it really necessary to convert your offline store to an online store? Yes, you really must, because the modifications and income flow in an internet business are significantly more than in a traditional store. And we make online stores flow or perform like butter, with Magento 2 as our most popular and favourite platform/framework in which you get a wide range of services
We assist online businesses in the development and maintenance of their online stores.
Do you want to open a new storefront?
Do you want to migrate/upgrade to Magento 2?
Do you require custom Magento development?
Do you require the development of an extension?
Then EWALL is the best solution for you! Get connected with us today and know what are the other IT solutions/services we offer.