If you're not currently using e-commerce in your business, now is the time to start thinking about how you could incorporate it into your operations. In this post, we'll take a closer look at what e-commerce is and some of the benefits it can offer your business.
What is E-Commerce?
E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the internet. It's a type of business model that allows businesses to operate online without the need for a physical storefront. This can be done through a number of different channels, including social media, online marketplaces, and dedicated e-commerce websites.
There are a few different types of e-commerce, but the most common is business-to-consumer (B2C), where businesses sell products and services directly to consumers. Other types of e-commerce include business-to-business (B2B), where businesses sell products and services to other businesses, and consumer-to-consumer (C2C), where consumers sell products and services to other consumers.
E-commerce has been growing rapidly in recent years, with global sales reaching $2.3 trillion in 2017. This growth is expected to continue, with sales projected to reach $4 trillion by 2021. This explosive growth is being driven by a number of factors, including the increasing popularity of online shopping, the proliferation of mobile devices, and the rise of social media.
Benefits of E-Commerce
E-commerce offers a number of benefits for businesses, including increased reach, lower costs, and 24/7 operation.
Increased Reach
One of the biggest benefits of e-commerce is that it allows businesses to reach a global audience. With a physical store, your customer base is limited to those who live near your store. With an online store, you can sell to anyone in the world with an internet connection. This gives you the opportunity to dramatically increase your sales and grow your business.
Lower Costs
Another big benefit of e-commerce is that it can save you money. With a physical store, you have to pay for rent, utilities, and other associated costs. You also have to pay for inventory, which can tie up a lot of capital. With an online store, you don't have any of these costs. You can also automate many of the processes associated with running an online store, which can further reduce your costs.
24/7 Operation
An online store is open 24 hours a day, 7 days a week. This means that you can make sales around the clock without having to staff your store 24/7. This can save you a lot of money on labor costs and allow you to focus your staff on other areas of your business.
There are a number of other benefits that e-commerce can offer your business, including the ability to track data, personalize the user experience, and provide a better overall customer experience. If you're not currently using e-commerce in your business, now is the time to start exploring how it can help you grow your business.
Don't know where to start?
If this is all too new for you, don't be overwhelmed - just give Tony a call at 021-804-602 and he'll be more than happy to help. PC Onsite provides IT Support in Auckland and helps businesses adapt to the E-Commerce business model, you can also book a dedicated time for a free discovery call below.