Maximizing Your Business with E-Commerce

Learn about E-commerce and how businesses are expanding through digital resources.

How E-Commerce Boosts Your Business

E-commerce accounts for over 20% of all retail purchases around the world. This article provides information about E-commerce and how it boosts your business.

Background

E-commerce (electronic commerce) includes buying or selling products and services on the internet. Organizations ranging from startup businesses to large corporations use e-commerce to reach a large audience.

Beatriz Estay wrote an article titled 16 Shopping Statistics: How Many People Shop Online; she states that over 75% of people conduct their shopping online at least once a month.

People desire convenience and accessibility. With the ability to shop from home, customers love online shopping. Because of this, millions of companies have stepped into the e-commerce world to meet the demands of the public.

E-Commerce VS Brick and Mortar Shops

Brick and Mortar Shops

A brick and mortar store is a physical location that allows customers to browse and purchase products. Many customers prefer shopping at brick-and-mortar locations because of the in-person shopping experience.

Internet experts once believed e-commerce would end brick-and-mortar stores. However, this is not yet the case. Countless brick-and-mortar stores are still thriving today. The bestselling brick-and-mortar businesses also take advantage of the internet. These businesses focus on two sides of their organization: the in-person store and the e-commerce store.

Pros:

• • Customers enjoy an in-person experience
• • Customers can physically see and test products
• • Owners can use in-store sales tactics
• • Trust can grow between workers and customers

Cons:

• • High operating costs: licensing, permit fees, insurance, security, technology, store fixtures, inventory, rent, employee salaries, advertising, electricity, air conditioning, heat, water, cleaning, and transaction fees.
• • Limited space
• • Inconvenient hours of operation
• • Inconvenient Location

E-Commerce Shops

An e-commerce store provides a convenient way for customers to shop online from any place, at any time. Many customers prefer e-commerce shopping because it saves time, energy, and money. Business owners also find e-commerce websites much easier to maintain and operate than brick-and-mortar stores.

Pros:

• • Accessible from anywhere in the world 24/7
• • Easy to maintain and operate with no experience
• • Low operating costs
• • Little to no need for employees
• • Ability to drop-ship
• • Can use the same point of sale systems as brick-and-mortar stores

Cons:

• • Challenging to build without a software engineer
• • Expensive to hire developers
• • No in-person interactions for customers
• • No cash transactions

How E-Commerce Benefits Your Business

E-commerce is highly beneficial for businesses looking to offer their products/services outside their local area. A company can increase its sales with web optimization and effective advertisement through media/social media outlets. Such tactics provide an easy and convenient way for customers to access their products/services. Additionally, media outlets permit direct business-consumer communication. Customers can leave reviews on their experience, which can help a business evaluate product feedback and general improvements. Unlike brick-and-mortar shops, e-commerce shops have lower costs and less maintenance while providing consumers with a more convenient shopping experience. E-commerce is undoubtedly becoming an essential asset in the world of business.

How E-Commerce Benefits Your Customers

Customers want the most convenient and cheapest way to receive products and services. E-commerce provides customers with the perfect solution. With E-commerce, your business becomes online and accessible on a global scale, 24/7. Your clients no longer need to plan a visit to an in-person store because you can ship your products anywhere in the world. You can also give clients special deals for purchasing your services and products online.

Conclusion

E-Commerce is the best way to sell your products online. E-Commerce gives your business a digital shop that is globally accessible 24/7.

Newberry Software strives to make your business as successful as possible. We offer professional E-Commerce development focusing on increasing your sales. Contact us today for a free consultation to find out how we can help you outperform your competition.