ECOMMERCE DEFINITION & IMPORTANCE
Published on 07 Apr 2021
In the last couple of months since the world was affected by the current pandemic, businesses have had been dealt a major blow and everyone who sells products or offers services have been thinking about what can they do to stay afloat. A lot of people have resulted to posting their products in Whatsapp groups and statuses and others on Facebook pages and groups. The only limitation of posting the product you are selling in Whatsapp status is that you only target your contact list.
What is an Ecommerce?
E-commerce which stands for electronic commerce is a model that is adopted by businesses to sell their products through the internet. It enables display your products all through even if you do not have a physical location of a shop and even if it is not working hours.
E-commerce basically is a business model that is a result of technology advancements made possible by the internet and allows one to perform transactions from the comfort of your home, office, or anywhere you are by the use of your phone, tablet, laptop, or desktop.
Why is it important?
Every person or business that every morning goes to open his/her shop or tends to sell products or offer services to a customer that is not in his circle needs to get the importance of e-commerce.
What e-commerce does is that;
- It expands your market reach – in that, it displays your products to the whole world as compared to Whatsapp status. With e-commerce, you get to showcase your products or services to those whom you can’t think of.
- It minimizes expenses – meaning that one can reduce the cost of renting a bigger store to showcase all the products, which means that the cost of having the personnel to monitor and guide customers through the shop can be minimized.
- Ensures that your products are visible always – meaning that, as long that you have set up your shop online, it will run throughout with you having to close in the evening and then open in the morning, it runs every other time even when you are not close to it.
- It allows customers to have a personal experience with the products as they can compare products easily as they are arranged depending on their categories, which implies that, when a customer places an order, it means that he is confident with what he has chosen as he will have all the time to go through different products at a go.
What does one need to set up e-commerce?
The minimum that is included to set up an online shop is as follows;
- A stable internet connection always so that you can respond to customers who may enquire about something
- A smartphone that can sustain a charge for long, or a tablet or a laptop.
- A valid business name
- A reliable software developer or a software development company that will guide you on how to go about it
What does e-commerce do?
- Displays products to users
- Allows comparison of product prices since the price is not hidden
- Provides the ability to place orders
- Ability to track orders
- Notifies the store owner when there is an order
Ecommerce is regarded as the future of doing business in the coming times since the need of it is growing day by day and the consumers of products are embracing it slowly. But one thing sellers should be aware of is that fraud is always there and its therefore upon you to know how to deal with it.