E-Commerce (electronic commerce) is an online platform where transactions take place and different companies and individuals can sell their services and products over the internet.
Many companies have increased their sales because of the modern E-commerce structure. Individuals from all over the world can now purchase products and services online on different companies’ E-Commerce platforms. The definition of E-Commerce means online transactions occur when someone requires or would like to purchase a product or service.
How does an E-Commerce site work?
E-Commerce is a platform where companies can list their products and/or services online. This structure can help the company promote its products and services to increase its sales online. It is very beneficial for many companies in modern days to own an E-Commerce platform as this is helping them to attract a variety of new demographic visitors by using an online payment procedure they can use to purchase products from their laptop, computer, mobile, etc.
E-Commerce visitors can search on a company platform for different products, select the product they like the most, add the product to the ‘cart’ then click on ‘checkout’ to securely confirm their payment and finalise the purchase. The transactions are secured once the client selects their payment option for their delivery and/or shipping method.
What is the difference between a website and an E-Commerce?
The purpose of having a website for different company/s or business owners is to be present and have a modern, professional presence online. A website serves a purpose to promote services and products on the internet whilst an E-Commerce allows a transaction of a product or service the customer wants, needs, or desires to be purchased directly from the business online.
What are the most commonly used E-Commerce structures?
- B2B (Business-to-Business, websites such as Shopify)
- C2B (Consumer-to-Business, a photographer that sells photographs to stock images)
- C2C (Consumer-to-Consumer, websites such as Ebay)
- B2C (Business-to-Consumer, websites such as Amazon).
Amazon is currently the largest business-to-consumer E-Commerce company in the world.
Is it worth owning an E-Commerce store?
For business owners and company/s, the desire to sell online services and products can be successful by remaining consistent with the starting idea and providing products and services that will attract consumers to the E-Commerce online store. Building and launching an E-Commerce requires the business owners to invest not only money but time and dedication so this project can be massively successful and generate high sales and revenue.
There are many factors that impact the success of the E-commerce store. This depends on:
- The size of the brand
- If they are a new or old company in the market
- The reputation the brand has created
- The location of the company
- The type of product and services
- The market and the industry the product or services are related to
- The prices of the product or services
- The offers of the products or services
- The type and level of the clients
- Target audience and demographic factors
- The niche market etc.
- The season e.g. Summer Garden furniture, summer clothes, Christmas Gifts, festivity etc.
The final success is also based on the personal interest of the business owner and determination towards expanding and building E-Commerce for the company.
Opening an E-Commerce store is like opening a physical shop but in the online world. When it is open, other factors and procedures should be implemented in order to keep the store up and running. This includes regular new products, services, the latest and updated content, images, etc. to keep a consistent level and increase customer engagement.
For new companies, it is more difficult to have immediate success with their E-Commerce store as they are at the infancy level in the market. They need to increase their reputation and customer engagement to build an audience of potential clients consistently in the market even before they immediately think of selling.
The structure of E-Commerce is more professional than a simple website and requires specific terms related to the company’s functionality and responsibilities.
What are some of the different methodologies and solutions in order for business owners to sell online?
There are different structures, budgets, platforms, etc. that business owners can make a decision on how and where to sell online. Some business owners can build an E-Commerce structure on their own that as a result can be more cost-effective than other platforms. Building an online store requires advanced technical knowledge skills and experience. Other E-Commerce platforms can offer the opportunity for clients to sell online without building a website from scratch or an online shop. Platforms such as Amazon, eBay, etc. have built-in E-Commerce functionalities already implemented so clients can create their own accounts and sell their own items easily. By being a user they can personalise their account so it matches the style, branding of their products and services they want to sell.
Also, Shopify, GoDaddy, Wix etc. are other platforms that different users can sell online.
Other services such as online mentoring, consultation sessions, workshops, tutorials, digital products, and services, etc. can be sold online on platforms such as Stripe, Paypal, etc.
Social media sales platforms
Social media is another source where individuals can sell online to reach a wide demographic audience. In order to sell on the platform, business owners or individuals are only required to have their own accounts on the social media site. These social media networks including Facebook, Instagram, etc. can connect people who have the same interest to sell online by listing their personal items and products or services for free of charge. Other users can purchase the listing which increases the amount of engagement and potential clients for the listed item and the seller.
Some E-Commerce companies can pay for marketing or adverts that show on users’ Facebook business to promote their online products or services.
E-Commerce structures can be connected with different social media sales platforms such as Facebook business, where users could connect their online shop and promote different products. This allows individuals to purchase products and services from different locations on the platform.
Overall, the seller’s profile on the social media sales platform should be: mobile-friendly, social media connect, and support a unique, customizable theme to match their products or services. It should provide a friendly environment to all the visitors and potential clients.
