Updated: Jun 27
Ecommerce is the buying and selling of products and services on the internet. Businesses should offer their products online, as it comes with several benefits. If you have a business and you do not make it available on the web, it's time that you do. Besides having your company website, there are also the biggest e-commerce websites where you can create your account and do business with your customers. Some of them are Amazon, eBay, and AliExpress. There are different types of e-commerce, which include the following:
Business to Business or B2B. These businesses offer their products and services to other companies instead of the consumers. Some examples are those that sell raw materials to manufacturers or offer services like marketing or web development to other companies.
Business to Consumer or B2C. It's the most common type of e-commerce where companies deal directly with the end-users. It includes retailers selling their products online, which customers can purchase, such as clothes, accessories, foods, and beauty products.
Consumer to Business or C2B. This type of e-commerce involves individuals selling their products or services to businesses. For example, a photographer may offer their photos to be used by a company on their products, or a freelance writer may provide content to companies for their websites.
Consumer to Consumer or C2C. in this e-commerce, individuals may offer their products or services to other individuals. These are freelancers or even hobbyists who do business directly with consumers. An example is a person selling handmade crafts to customers. It could also be a service like research assistance for their projects.
Direct to Consumer or D2C. This is a new type of e-commerce that is becoming more and more popular. Instead of selling products and services to retailers, which then offer them to end-users, companies sell directly to the consumers. Some examples are subscriptions like Pay TVs and music streaming.
Whatever type of e-commerce you wish to have, here are the benefits that you can enjoy from having an e-commerce store.
1. Your business is available 24/7
Unlike a physical shop where you only operate for a specific time, your e-commerce store is available to your customers 24/7. It gives them the convenience to shop anytime they want, whether it's early morning or late night. If they cannot do their shopping during the usual business hours, they can still buy what they need from you through your e-commerce site. Therefore, they can do their shopping at the time most convenient for them. Plus, it saves them the time and effort of having to drive to the local store.
2. Customers can conveniently make their orders
They can easily browse through the products or services that you offer from your site. You can add the descriptions of the items and a link to order them for more convenience. Most e-commerce sites have a search feature, so clients can also type in a specific product they are looking for, and they will get the result matching their search. It is a time-saver, which will also entice them to keep doing business with you.
3. Comparison of products is also easier
Most e-commerce sites are equipped with the option to compare products or services with other companies. There are also comparison sites that you can use for this purpose. It is helpful to determine the current market value of your items. You will know the prices of your competitors, so you can make yours more affordable. Plus, you can create promos and offer discounts to be ahead of the competition. It will be challenging to get this information without using the internet and e-commerce, or comparison sites.
4. You save more in your operations cost
If you are already operating a physical store, you don't have to give it up, as you can run your e-commerce site in conjunction with it. Having an e-commerce site will save you from the overhead costs of opening another branch in another location. There is no need to pay for the store's rental, utility bills that come with its operation, and additional staff.
5. Your business will reach more customers
Unlike a brick-and-mortar that can only serve a limited number of customers due to geographical location, an e-commerce site will give you a better reach. As long as you can provide shipping, you can offer your products around the country and worldwide.
6. Customers can pay using various payment methods
The payment options in physical stores are usually limited to cash, debit card, and credit card. However, you can offer more payment methods in e-commerce, making it more convenient for clients. Besides credit and debit cards, other popular options are PayPal, e-wallet, UPI, and cash on delivery.
Start creating your e-commerce store now to enjoy all the benefits that it offers. You will see an increase in your sales if you start offering your products or services online.