Complete E-commerce guide-2021
What an year 2020 has been. It has shown us the most unexpected things and has made so many changes to our lives but the changes are not limited to our lives , even business has seen a major change. All the small, medium , large business has opted for e-commerce and asked IT firms to mark their presence online.
If you are an entrepreneur , the idea of upgrading your business and making your presence online like everyone must have crossed your mind. In current pandemic times, where social distancing is vital, online businesses can operate from the safety of one’s home. So, you don’t need to invest in an office space or make arrangements for employees’ workspace, saving your time and money.Here is a complete guide for you that will make everything clear for you before launching your own e-commerce platform.
What Is E-commerce?
E-commerce which is also said online shopping by most is a concept of doing a business online. It operates in all four major sectors.
- Business to business
- Business to consumer
- Consumer to consumer
- Consumer to business
Almost anything can be purchased through e-commerce today.
What is the importance of E-commerce?
E-commerce was responsible for around 3.5 trillion dollar sales in 2019 and is expected to grow by 1.4 trillion more in 2021 that makes it 4.9 trillion dollar.
The benefits by e-commerce to your business are :
- Global reach -World Wide Web gives your business a global reach. Even if locals are your primary source of revenue, going online will help in exploring new opportunities, like other facets of your business.
- Customer Satisfaction-A Satisfying response to the customer needs quicker, smarter, and at their convenience.
- Cost Effective
- Broaden your brand and expand your business.
- You will be presented with better marketing options on e-commerce
- Your store is open 24*7/365.
- Easier & More Convenient
- Receive Feedback from consumers and build authenticity.
- Maximum security of transactions-operating over the Internet is almost safer and more reliable than doing it in a physical store.
Never has been this easy , low cost and low risk to start an eCommerce business. So long as you pick your products/services wisely, have an appropriate business plan, picked up the right partner, there’s plenty of potential for passive income and high ROI over the long term. Here at Ambi Web Solutions we provide a complete eCommerce website that will help you kick start your business online and will make you reach the sky like you always wanted to.
Types Of Ecommerce Business Revenue Models
The next most important thing to think about is how you want to handle inventory management and sourcing products. Some people like the idea of making their own products and others hate the idea of their garage full of boxes.
A model that allows you to buy products individually from a wholesaler and ship them directly to your customer. Instead of purchasing a large amount of inventory, you simply partner with a drop shipping supplier and list their merchandise for sale.
In a wholesaling approach, a retailer offers its product in bulk at a discount. Wholesaling is traditionally a B2B practice, but many retailers have offered it to budget-conscious consumers in a B2C context.
Traditional Order Fulfilment Model
The traditional offline retail model is based on a stock acquired by the business owner directly from a wholesaler at a discounted rate, applies a margin onto each product, and decides to deliver to consumers directly.
Outsourced Fulfilment Model
It’s a hybrid approach using a ‘fulfillment house’. companies get commissioned to handle the product side of the business, on behalf of the retailer. Generally, speaking, they are responsible for collecting products from the supplier to the customer.
Latest E-commerce Trends To Boost Your Revenue in 2021
Product visualization is the act of using renderings, images, and artwork to visually convey your products to customers. The Augmented Reality trends for product visualization will see shift upward in 2021. The adoption of AR/VR enabled smart devices will increase sharply which will lead the change in global ecommerce trends.
SAY YES TO MOBILE
Online retailers from around the world confirm that mobile transactions increase each year. Especially during the holiday sales season. If you don’t have a website which is mobile responsive – NOW IS THE TIME TO MAKE IT RESPONSIVE! If you have to choose between web or mobile choose mobile. People these days spend more time on their mobile phones than computer or anything for that matter.
VOICE AND IMAGE SEARCH
“I SEE IT, I LIKE IT, I WANT IT, I GET IT” is what image search is all about. A new e-commerce trend of image shopping will emerge Use of voice-enabled buttons can lead to more conversions from smart speakers. Thereby improving the numbers for e-commerce stores.
CHATBOTS ARE A MUST
Chat bots that are able to answer questions and facilitate buying and return processes This e-commerce trend provides massive value to busy consumers who demand immediate answers, regardless of the time of day or the platform they choose to contact a company’s AI-powered Chat bots help increase the user engagement by providing relevant options to them.
AI allows e-commerce businesses to support customers on all platforms simultaneously. Customer segmentation and identification of patterns based on customer’s browsing history are massive challenges for e-commerce stores in terms of automation and store personification.
Marketing automation means automating email marketing and scheduling social media posts. However, marketing automation has now become the new trend. With 49% of businesses using marketing automation, it shows no signs of stopping. It covers areas including customized landing pages and easy-to-access shopping carts.
MORE PAYMENT OPTIONS WILL POPUP
We now have multiple payment options available including digital payment methods and UPI. More of the latter will popup to cater each segment.
Localize and Personalize Customer Experience
Exceptional customer services, faster shipping, lower prices, better user interface, easy-to-navigate website increases customer satisfaction. All personification should aim to better the customer experience.
CASH ON DELIVERY WILL BOOM
Many e-commerce website has faced major loss because of cart abandonment. Why does one abandons a cart? Simply because they does have enough confidence in the product. Post payment option that is one has to pay only after receiving the order will see a rise in E-commerce market.
MAKE YOUR WEBSITE OR APP STAND OUT
If your website doesn’t look outstanding you won’t stand out and shine from competitors either. A very popular quote “first impression is the last impression” goes here as well. And the design of your website or app is your first impression that you make in front of customers. Nobody will think of buying from you as psychologically customer judges by the first impression and it is a prove of poor quality and taste that could lead to lower sales.
And no entrepreneur wants to lower their sale so what are you waiting for?
Contact Ambi Web Solutions and hire the leading e-commerce development company to make yourself stand out.
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