Most entrepreneurs or would-be retailers plan to start or expand their business on the internet as it acts as an area of great growth. E-commerce has completely changed the landscape compared to traditional trade. The appeal of starting an online business is expanding for many brands. If you want to succeed, it is essential to know the pros and cons of this system, to possess the right information and to be aware of what to expect.
What exactly is e-commerce?
The word e-commerce, also known as electronic commerce, refers to the various commercial transactions that take place remotely, especially online. Online shopping is done through digital and digital objects. The purchase can be done through various media and channels such as tablets, computers, consoles, smartphones, TV. With the rise of e-commerce, the mail order market has become very popular, especially for busy people. There are many types of e-commerce: C2C, B2B, B2C, B2E and B2G exchange.
What are the benefits of going the e-commerce route?
Internet trade offers great opportunities for retailers and allows them to reach a larger target group, to sell at any time 24/7, to display their products differently and to do a product study before launching the sale in shops. E-commerce also gives the possibility to discover the best product, to increase customer relationship, to facilitate the purchase, to collect various data on its customers and to reduce its fixed costs and thus to improve its margin. For the consumer it is very convenient and saves time. He or she can have more offers and take more time to get informed at lower prices.
What are the weaknesses of the e-commerce system?
One of the limitations of e-commerce is the shipping time. When a customer purchases a product in a traditional shop, he or she can collect the goods immediately. However, when shopping on the internet, most customers only collect their items within a few days or even a week. Another disadvantage of e-commerce is the delay in answering questions. Unlike in-store shopping, if a customer has a question, an on-site salesperson is there to answer it instantly. Indeed, the majority of customers on social networks wait to have an answer from the e-tailer within the hour. Another drawback of the e-commerce system is that it is impossible to purchase a product in an online shop if your website crashes, hence the need to do everything in your power to ensure that your e-commerce platform is hosted on the best platform.