E-commerce – online shop is the process of buying, selling, transferring and exchanging products, services or information through computer networks. Online shopping has grown exponentially and has many advantages over classic shopping.
You can shop online from anywhere; from your office, tram, home, anywhere you have internet access. E-commerce has seen a big increase over previous years as confidence in this type of shopping has increased over time. E-commerce is predicted to have a bright future and its expected to be a major driver of the economy in the future.
The world is changing and adapting. Technological advancement brings with itself, great advantages such as world compression. Everything is available and everything is quickly accessible. Just a few clicks away from just about anything you want. Technology is increasingly advanced and increasingly useful. People are slowly getting used to the fact that technology is part of every segment of their lives and that adaptation is inevitable. It is impossible to imagine progress without technology involvement. Technology makes life easier. The Internet has completely changed the way we do business, breaking down all barriers such as languages, borders and currencies. It provides very fast and easy communication, long-distance information transfer, easy publishing of various documents, online transactions and more.
All business activities performed through information and communication technology are electronic businesses. E-commerce is the application of technologies for the purpose of automation of business transactions, and it can be divided into:
- online shopping
- online payments
- email communication
Of all the above mentioned branches of business, the most important is email communiation, which stands out as the main segment of e-commerce. E-commerce is the future of trading and represents every form of exchange of information, goods, and services through the Internet.
Businesses and sales that are not present on the Internet are less likely to survive because online presence has become a must. The Internet is the world’s largest catalog and offers incredible opportunities to turn your ideas into money. Being online and having your online i.e. e-commerce means being up to date. E-commerce allows customers to make their purchases more efficiently and quickly from the comfort of their home. In 1996 Amazon started selling books online and in 1998 eBay (Echobay) was launched.
Amazon and eBay are considered the largest online stores today. These two e-commerce giants are an example of how much and why e-commerce is the most successful form of business. Today, technology is at the service of profit and promotion. Through the internet, every promotion has a stronger resonance than the traditional media, and the internet itself is a competitive medium. E-commerce has significantly reduced the cost of trading in various ways, this will be discussed below.
This way of trading is very similar to the classic way of trading; the user has a consumer basket, products and cash register in front of him. Product selection and payment methods are one of the main differences between classic and e-commerce. Classical commerce takes place directly and e-commerce takes place indirectly.
E-commerce can be conducted in multiple directions:
- B2B – business to business
- B2C – business to client
- C2C – client to client
- C2B – client to business
The following are basic E-commerce forms.
E-commerce is a global action characterized by universal standards, interactivity, information density and personalization. The users of goods and services are most often reached through the search engine, and it is important to pay attention to all segments of e-business. Do SEO and be high on the search engine, invest in Facebook Remarketing and commit to email automation. Ensure that you research the market before engaging in online business.
Online shopping is the fastest and cheapest way to shop for customers and the most profitable way for merchants. E-commerce is a widely accepted way of trading. The distrust that prevailed at the beginning of the rise of e-commerce is slowly waning. Ignorance of new technologies, fears for data security and fears of identity theft have all but disappeared very quickly as technology has advanced towards sales security and data protection when making online purchases. E-commerce has reduced the cost of doing business in many ways.
With the adoption of e-commerce there is no longer a need to rent office space in an attractive location to reach customers. This saves you money because such spaces otherwise have high rental rates. All you need is a good and functional web site, which costs significantly less than office space in an attractive location.
Then, you do not have to pay the employees who would be responsible for every segment of the business, but one capable and trained person to run your online store is enough, and with the knowledge and skills of your online store you can run it yourself. The costs of selling and delivering goods and services are much lower when compared to classic purchase. You eliminate the existence of a warehouse because online shopping does not require large quantities of goods, but gives greater priority to the variety of services and goods.
Through this business, you can very quickly adapt to changes in prices and stocks and the needs and requirements of customers. The Internet has blurred geographical boundaries in terms of communication and delivery, and you can market your products to a wide audience of customers. This form of trade “just in time”.
Your store is available 24 hours, so customers do not have to wait for your store to open in order to view the offer. Customers hereby save the time and resources they would spend coming to a classic store. In addition, they avoid traffic and parking jams.
E-commerce increases competitiveness, business efficiency and brings in profits. This flexible trading method means that you, as the seller, are able to adapt to the demands of the market and those of your your customers in a cheaper, more efficient and faster way than traditional trading. Distribution, warehousing and communications prices have been reduced by 90%. One of the advantages for online shoppers is that they avoid contact with sellers who often know how to be overbearing and repel buyers. E-commerce is private and unique. When shopping online, every buyer can research more about the product, search the information they need and the competition information and then makes a purchase decision without any pressure.
In most cases, online stores only display available goods and occasionally quantities. The Internet is an unlimited space for the purchase and supply of goods and services, and as such it offers an unlimited amount of information on all goods and services. The buyer can very easily explore the features, advantages, disadvantages of the product and make the purchase without waiting in line.
E-commerce is profitable and lately, sellers have only online commerce because a minimal investment can make big profits. Your online performance is responsible for your success and you do not need an expensive catalog, a big billboard, or an advertisement in a prime time. Your online store is accessible to everyone and it is this accessibility that is one of its biggest advantage over a classic store. Online payment security is high, and users are beginning to realize that trading through reputable and verified pages is actually safe.
The seller decides on the payment method for his services and goods; whether it will be a pay-per-download that occasionally enjoys a high level of distrust on both sides, payment by card, check, bank transfer or otherwise. What drives customers trust is that a card-enabled store needs to be more secure. The store could not be launched without the digital certificates. For that, it has to meet some special requirements. A digital certificate is an electronic list that cannot be forged because it is unique and can only be issued by companies specialized in it.
Digital certification companies guarantee the identity of merchants and certify that that merchant owns sites that comply with all regulations regarding the online store and its business. The ability to check information about goods and services before making a purchase let customers know what they are buying.
Good design, SEO and quality promotion guarantee a good traffic to your online store.
The key components of an online store are:
- high-quality images – after-sales images are the most important factor in sales
- product descriptions – descriptions are important immediately after the pictures. Useful information that is served to customers, saves search time and informs the customer about product features
- social sharing – customers love and buy what is recommended on social media
- phone number and online chat support – available to customers at any time
- product reviews – allow customers to share product experiences, as this will create good marketing for you
- wishlist – customers love wish lists because they are used to store products
- customize your mobile and mobile store
Online trading will be even more attractive in the future, so start your own online store and make money by selling online.