Over the Past decade, consumers constantly change the way they want to shop and merchants are trying to keep up. Now merchants and buyers are using Ecommerce Platform.
Ecommerce, Electronic commerce refers to transactions conducted via the internet. Every time individuals and companies are buying or selling products and services online, they are engaging in eCommerce. The term e-commerce also encompasses other activities including online auctions, Internet banking, payment gateways, and online ticketing. The term eCommerce also encompasses other activities including online auctions, internet banking, payment gateways, and online ticketing.
Where shopping in a store was the predominant way to shop. Online shopping is quickly becoming a preferred way to shop for consumers around the globe. Sixty-eight percent of internet users in the European union shopped online survey on information and communication technology. In the US, according to walker sands communication the future of retail report, 46 percent of consumers prefers to shop online. eCommerce is the driving factor behind this shopping evolution. Consumers no longer have to go out to go shopping. eCommerce has brought the shopping experience to their fingertips via computer and mobile devices, completely changing the way to consumer shop.
6 models of eCommerce:
The Impact of eCommerce is far and wide with a ripple effect on everything from small business to global enterprise and beyond.
Selling online can help your business reach new markets and increase your sales and revenue gains. if you are interested in selling to other businesses, you can use the internet to find sales leads, announce calls for tender, and offer products for sale. Searching for products and services online can save you time and money by allowing you to find the best prices without having to do all legwork. You can use the internet to find new suppliers, Post buying requests, or search for products and services. The benefits of effective B2B eCommerce include lower costs associated with selecting suppliers, establishing prices, ordering, and finalizing transactions. Online trading networks can also be used to support efficient information exchange between buyers and sellers.
It is Important to be aware of security and privacy issues associated with e-commerce. Some common security threats include fraudulent use of credit cards, computer viruses, Spam, and theft of computers or information.
People prefers to use eCommerce Platform to buy products because people can compare product, Filter products using price, color, type, model, Brand and many more.
E-marketplaces are an important way to conduct B2B as well as B2C transactions. They can be focused on particular products, services, or industries. E-Marketplaces may be operated by a third party or buy a business network or a company. There is a trend towards e-marketplaces where one organization links to its business partners to improve the business process. There are also e-marketplaces for specific industries and regions.
Online Shopping has its weakness. Online shopping is not as social as offline shopping and doesn’t have the gratification of shopping at a traditional store. Buyers also find it difficult to buy certain products on the web. But the many Strengths of online shopping have ensured that it is here to stay. The eCommerce storefront that maximizes those strengths while minimizing weakness cash in.