E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. What is E-Commerce Business
These business transactions occur either as business-to-business (B2B), business-to-consumer (B2C), consumer-to-consumer or consumer-to-business. The terms e-commerce and e-business are often used interchangeably. The term e-tail is also sometimes used in reference to the transactional processes that make up online retail shopping.
What is E-Commerce?
E-commerce is the purchase of goods or services by any person or entity over the internet using a credit card, debit card, or digital wallet. Alternatively, an internet consumer may use a credit card, debit card or digital wallet, but often transacts using a credit card or debit card (typically an E.g. Visa, American Express, or Mastercard) and funds are typically transferred from an internet consumer’s account to the account of a business or internet merchant by credit or debit card. What is E-commerce Planning? E-commerce Planning encompasses four key activities: Business Operation Planning the business operations, e.g.
Who are the players in the e-commerce Space?
The key players in the market are Amazon, Walmart, C&A, Matalan, Myntra, Flipkart, Snapdeal, Jabong, Urban Ladder, BookMyShow, Amazon Seller Services Pvt. Ltd, Shopclues, eBay India, QuikrJobs, Shopo.com, Alibaba, Carousell and Shopee.
The e-commerce space has been witnessing the rapid proliferation of technology in the last decade. Traditional retailers have been slow to adapt to changes in consumer preferences, and most traditional online retailers lack technological savvy. Some retailers are in transition from a traditional retail to a technology based business model and more than half of the businesses online today are expected to transform into an e-commerce businesses in the next five years. How are companies capitalizing on the opportunity in e-commerce?
The E-Commerce Supply Chain
The internet has been important in e-commerce for as long as we’ve been shopping online. It was the start of the e-commerce revolution with sites like Amazon, eBay, and eBay (US) being in business since the late 90s. Over the years, e-commerce platforms have improved and e-commerce continues to become a more efficient and trustworthy way to make purchases.
The results of the shift have brought new challenges to online shopping. E-commerce is not without its negatives and weaknesses, however. Here are a few pitfalls of e-commerce business you should watch out for. 1. E-commerce may not be secure It’s important to note that security breaches on e-commerce sites are not new.
What are your customer’s needs?
You should think of the consumer as a smart shopper that has a very clear idea of what they want. You will need to match their needs with the products and services that you offer. Your customers do not always buy on the first interaction with you or even during the purchasing process. Sometimes a simple email is all it takes to convert a potential customer to a satisfied one. You can create a custom landing page or create a landing page and leave a form that you will not immediately fill up but when the buyer comes back to you they will get the results that they were looking for. Who are your competitors? The competition can be both foreign or domestic and is usually identified by the product, customer service, pricing or service offered.
How do you Price your Products?
Stories and stories- A Single Story How do you calculate commission? Selling And The Meaning of Time How do you track returns? How do you develop & sell your products? What’s The Business Concept Of Online Shopping? All About Web Fees How do you calculate profit margin? Does Your Business Have To Have A Franchise Model? Is It Legal To Sell Products on E-Commerce Websites? What Is the Initial Capital To Set Up Online Shopping? How To Promote and market your products online? Selling a product online is a business like any other, depending on the business model, it has to do with products and services. With every business concept a new concept arises which changes the characteristics of the product.
Marketing for e-commerce
To successfully sell a product through an e-commerce platform, you need a great e-commerce strategy. But it’s not enough to simply come up with a great product and the name for your e-commerce site. You also need to think about how to market it to customers.
Although there’s no guarantee that your product will sell, there are several methods you can use to get customers interested in your product. These methods include: Inbound marketing Networking Product research Choosing a seller If you want your product to sell, you’ll need to find a seller to distribute it. This can be a problem if you don’t know anyone who sells the product. There are a number of services that allow you to search for and connect with sellers.
Conclusion
The Internet is a major player in the economy of the world. At present, e-commerce is becoming popular among many people, and is growing rapidly. For instance, every day there are about 190 million active e-commerce users in the world, and by the year 2020 it is estimated that there will be 280 million active e-commerce users.
However, it’s important to note that, the majority of businesses don’t really know how to run an e-commerce website. Most people are used to shopping from the physical stores and are not aware of what e-commerce entails. Many businesses don’t realize that it is possible to have their products displayed on the online stores so that people can buy from them in the comfort of their home or office.