As technology advances, the conventional way of trading shifts and ecommerce is becoming increasingly prevalent. It is also known as electronic commerce or internet commerce, which refers to the purchase and sale of products or services through the internet.
The digital revolution has had an effect on many sectors like trade. Nowadays, people are more likely than in a classic shop to make a purchase over Amazon or related pages.
According to Statista, there are rising numbers of dollars spent on e-commerce sites each year. It had hit $3.45 billion in the last year alone. The figure will reach $4.88 billion by 2021.
What are the highlights of Ecommerce over Traditional Commerce?
1) No geographical limitation
When it comes to traditional commerce, you can do business only where your physical store has been set up. This is not the case with Websites for e-commerce. For them, if carefully designed the entire planet is their sandbox. With only a few clicks people from one corner of the world can easily order a particular product from another corner of the world.
2) Gaining customer using search engine visibility
Traditional business shops are still dependent on branding and partnerships to bring more customers to their store, but e-commerce drives much of their traffic from search engines on the other side. More than 30 per cent of e-commerce traffic comes from search engine proprietary searches. This is just the traffic from organic searches and then we’ve got ads, social media traffic that’s the turning point for many e-commerce firms. You can quickly gain insights into the traffic coming from various social media sites by using a creative solution like Proeze for your e-commerce shop.
3) Lower cost/investment
One of the main reasons for launching an e-commerce website is that it needs a low investment over a physical store. To slash your e-commerce website costs, you can use the best marketing technique that includes: organic search, pay per click or social media traffic. Compared to a physical store, the manpower and property needed to get the company up and running is also much less.
4) Locate product quickly
We’ve all been through the hassle of putting a particular product in a large shop, running up and down the aisles and asking the person in charge to help. This is not the case for e-commerce sites, as the consumer only has to click through intuitive navigation or simply type the particular product into the search box to find their requirement immediately.
5) Save travel time and cost
The main reason people are moving from conventional to e-commerce is that it saves time and expense for travel. The customer has to visit the store for a physical shop to buy the item while he can do it with only a few clicks sitting on the couch with an e-commerce website. With the advent of m-commerce, it has saved the customer’s time by letting them buy the products on the go, even more so.
6) Remains open all the time
Another big factor that has moved consumers from traditional trade to websites of ecommerce is that they too can shop at odd hours. The timings for e-commerce stores are 24*7*365. There is no obligation on an e-commerce website which is why they can stay open all the time. Sellers profit from it as they are getting more and more orders and it’s much more convenient for the consumer around the clock.
What is the best way to switch Traditional Retailer to Digital?
With a view to staying competitive and achieving exponential efficiency, many companies are moving from their traditional selling methods into the ecommerce environment. Although online retail nowadays grows at a tremendous pace, entering into digital commerce is a fantastic idea regardless of your business field. To give the customers exceptional convenience and motivate your brand, here’s a checklist you need to think before switching to e-commerce.
- Start with the Groundwork
The first step is to develop a successful strategic plan for your company. Based on your business’ processes, competencies, and service area, you can create an efficient strategy customised to suit your business needs. Second, putting your client base first will help you concentrate on a specific market.
- Analysing Customer Behaviour
Another critical move is to consider the market trends and their business requirements. By having insights into the customer’s shopping preferences, you can easily place your goods and services accordingly. This allows you to provide your customers with a personalised experience which will further empower your company.
- Setting Up A Store
You are ready to set up an online shop for your company once you finalise the strategic objectives, pick a specific product concept, evaluate the target audience, and establish a detailed understanding of consumer preferences. But you need to build a merchant account to operate this digital store successfully. You will also need to build a database (with an intuitive and user-friendly interface) that can help you easily organise the goods on your ecommerce website.
- Social Media
Taking advantage of the power of social media to create a special, robust user experience. Being one of the most critical moves to reach your target audience will help you drive traffic to your e-commerce website through a successful social media strategy. You may employ a specialist for some unique marketing tactics to produce a stable route map for social media.
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