What is an e-commerce store? what are the benefits & disadvantage of it?
E- Commerce is also known as e-business or electronic business which refers to the business method that involves transactions for purchase or sale of goods & services over electronic medium without meeting directly or face to face to buyer or seller. It also includes transfer of money or data between both the parties electronically. In simple words it is an online shopping portal which is fully integrated into our daily life. It is like physical retail shopping but the only difference is that it operates digitally.
E- Commerce or online shopping is much more convenient & easy than traditional business methods. Ecommerce has evolved to make products & services easier to unveil & buy through online marketplace. Now a day’s anything and everything in e-commerce can be done at a single online portal. Freelancer, small business, corporations have all benefited from online business which allows them to sell their goods & services to larger audiences around the world then traditional retail markets. In e-commerce market with proper strategy and help of ecommerce web Development Company in Surat you can sell anything which is goods.
PROS OF AN E-COMMERCE STORE
LESS INVESTMENT & MAINTENANCE COST :
One of the prime benefits of e-commerce business is that it has lower startup cost as compared to traditional retails stores. The entire selling system for business is mechanical online there for you will save on upfront cost like staff, store design, store logo, wages, sales equipments, rent, electricity and other miscellaneous business expenses. You may also need to hire security staff & security camera as per your store requirements. The money you have saved can be used for expansion & development of e-commerce store & buying product range further.
Another advantage of e-commerce stores is its open for business 24/7.you might have heard about "make money while you sleep". Means there is no restriction for people for when to buy & sell you products. It feels amazing when you wake up in the morning with money in your inbox. People can buy at any time of the day or night. An e-commerce store gets you more of that people who may have odd work schedule.
REACH TO GLOBAL MARKET
You have the ability to discover your customers around the world effortlessly. Selling worldwide is a great step towards building your brand image faster & deepening your marketplace exponentially. It allows you to generate more profit & goodwill for your brand.
ACCESS TO BUSINESS FROM ANYWHERE ANYTIME
An online business can give you another advantage of running business from anywhere or any part of the world as long as you have access to the internet. It will reduce geographical restriction which you might face with office based business. With the help of online business you can target enormous audience in short period of time.
One of the best advantages of E-commerce websites with help of online shopping site development company in surat is allowing you to determine data of products which are selling successfully to ensure regular stock availability. This will helps you to grow your business in terms of sales & you will get customers phone number address, mail id that means you have different ways to communicate with them & get in touch with them.
CONS OF AN E-COMMERCE STORE:
Lack of security is a major disadvantage of online shopping. This is harsh reality of e-commerce store. When doing online shopping you need to provide payment information such as credit card or debit card to online sources because of hackers & cybercriminals your account might be wiped out clean of existing cash. Fraud has grown with increasing online shopping platform. So e-commerce stores must have security systems, encrypted payment systems & other safeguards to stop data breaches.
LACKS OF PERSONAL TOUCH:
One of the biggest problems with buying online is customers can't touch or see products physically & no guarantee of the products quality. Customer wants to try the product before purchase to check quality. Research will not assure you about the quality of the products & Reviews are not always genuine & helpful.
E-commerce stores are totally run on the internet so it requires a good internet connection .The worst part of online shopping is no one can buy from online stores if the website goes down which may cause a lot of problems on sale. Website crash is small word but it can put a whole business down within a few second. If you dont have a good internet connection you might face problems loading pages, placing order, making payment etc. Thats why it is important to have a proper website hosting platform.
Healthy competition is considered a positive in the business but it is worse when there are numerous portals for single product or service. Every company tries harder to fetch a large number of customers. Due to heavy competition they force to cut down their price by giving discounts, free gifts, incentives & other allowance. Obviously at the end of the day product’s quality will suffer & customers who are made a fool of.
E-commerce stores & retail stores both have their pros & cons. You can expand your business market by proper marketing strategy & planning. Both the platform of business can coexist in their own ways with the help of online selling site Development Company in Surat. It is up to customers choice from where they want to do shopping.