Advantages Of E Commerce

Wednesday, February 9, 2022 1:23:04 PM

Advantages Of E Commerce



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Advantages and Disadvantages of Electronic Commerce

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Though there are physical equivalents to deals, bargains, coupons, and group buying, online shopping makes it much more convenient. For instance, if a customer has a deep discount coupon for turkey at one physical store and toilet paper at another, she may find it infeasible to avail of both discounts. But the customer could do that online with a few mouse-clicks. There are limitations to the amount of information that can be displayed in a physical store. It is difficult to equip employees to respond to customers who require information across product lines. E-commerce websites can make additional information easily available to customers. Most of this information is provided by vendors and does not cost anything to create or maintain.

Using the information that a customer provides in the registration form, and by placing cookies on the customer's computer, an e-commerce merchant can access a lot of information about its customers. It, in turn, can be used to communicate relevant messages. An example: If you are searching for a certain product on Amazon. Also, Amazon. E-commerce websites can run all the time. From the merchant's point of view, this increases the number of orders they receive.

From the customer's point of view, an "always open" store is more convenient. Buyers and sellers of niche products can find it difficult to locate each other in the physical world. Online, it is only a matter of the customer searching for the product in a search engine. One example could be the purchase of obsolete parts. There can be lack of system security, reliability or standards owing to poor implementation of e-commerce.

Special types of web servers or other software might be required by the vendor, setting the e-commerce environment apart from network servers. Sometimes, it becomes difficult to integrate an e-commerce software or website with existing applications or databases. There could be delays in launching an e-Commerce application due to mistakes, and lack of experience. Internet access is still not cheaper and is inconvenient to use for many potential customers, for example, those living in remote villages. A website following the B2B business model sells its products to an intermediate buyer who then sells the product to the final customer. As an example, a wholesaler places an order from a company's website and after receiving the consignment, sells the endproduct to the final customer who comes to buy the product at one of its retail outlets.

A website following the B2C business model sells its products directly to a customer. A customer can view the products shown on the website. The customer can choose a product and order the same. A website following the C2C business model helps consumers to sell their assets like residential property, cars, motorcycles, etc. Website may or may not charge the consumer for its services. In this model, a consumer approaches a website showing multiple business organizations for a particular service.

A business organization who fulfills the consumer's requirement within the specified budget, approaches the customer and provides its services. B2G model is a variant of B2B model. Such websites are used by governments to trade and exchange information with various business organizations. Such websites are accredited by the government and provide a medium to businesses to submit application forms to the government. Governments use B2G model websites to approach business organizations. Such websites support auctions, tenders, and application submission functionalities. Governments use G2C model websites to approach citizen in general.

Such websites support auctions of vehicles, machinery, or any other material. Such website also provides services like registration for birth, marriage or death certificates. E-commerce sites use electronic payment, where electronic payment refers to paperless monetary transactions. Electronic payment has revolutionized the business processing by reducing the paperwork, transaction costs, and labor cost.

Payment using credit card is one of most common mode of electronic payment. Credit card is small plastic card with a unique number attached with an account. It has also a magnetic strip embedded in it which is used to read credit card via card readers. It is usually credit card monthly payment cycle. Following are the actors in the credit card system. Debit card, like credit card, is a small plastic card with a unique number mapped with the bank account number.

It is required to have a bank account before getting a debit card from the bank. The major difference between a debit card and a credit card is that in case of payment through debit card, the amount gets deducted from the card's bank account immediately and there should be sufficient balance in the bank account for the transaction to get completed; whereas in case of a credit card transaction, there is no such compulsion. Debit cards free the customer to carry cash and cheques. Even merchants accept a debit card readily. Smart card is again similar to a credit card or a debit card in appearance, but it has a small microprocessor chip embedded in it.

Smart cards are also used to store money and the amount gets deducted after every transaction. Smart cards can only be accessed using a PIN that every customer is assigned with. Mondex and Visa Cash cards are examples of smart cards. E-Money transactions refer to situation where payment is done over the network and the amount gets transferred from one financial body to another financial body without any involvement of a middleman. The store owner, in turn, can train the customer service staff to answer queries effectively. When the staff is not around, they can use a Facebook chatbot to point customers towards FAQs and other self-help resources.

One of the best ecommerce advantages is that you can easily gain access to data for analysis on your customer. Most people feel uncomfortable giving away email addresses or postal codes to physical retailers. That means you have at least three different ways to communicate and build a relationship with them. You can even have them fill out marketing surveys , share their birth date with you, and more. If you ask them to create an account, you can obtain even more information to better serve them.

If you choose to dropship, you can process a high number of orders with ease. As your business continues to grow, you might choose to hire employees to help with order processing. Therefore you do not have to worry about stock control like physical stores have to. In retail stores, long queues can deter people from shopping. A customer can place orders on their own schedule with no delays, allowing you to accept a high number of orders. You can increase your ad budget when people are clicking and buying without worrying too much about keeping up with the demand, especially if you dropship.

With brick and mortar stores, it can be hard to grow product lines or add more cashiers due to finite space. If you create informational products, you run into a challenge again as it takes time to write ebooks , courses, and more. With the dropshipping ecommerce model, you can add new products to your store without having to worry about shipping products or holding inventory, allowing you to grow quickly.

With ecommerce, you can grow organic traffic and sales with ecommerce blogging. As with every pro, there is a con. So, when starting an online store, it is important to be realistic. Below are a few ecommerce disadvantages that merchants typically experience, which do not apply to a physical store. The worst of the ecommerce disadvantages is when no one can buy from your store if your site crashes. Fortunately, ecommerce solutions like Shopify offer free hosting in their monthly fee, allowing you to have one of the best servers on the market. In recent memory, there was only one time where sites were down.

Twitter, Spotify, Soundcloud, and more were affected by this crash. The issue was resolved the same day. With augmented reality, more stores are starting to add AR elements to their store to allow customers to try products on. Augmented reality ecommerce companies offer solutions for businesses to create a more interactive experience with your customers. How exactly does AR work? The beauty retailer offers an augmented reality experience where customers are able to try on different eyeshadows, lip colors, and more virtually. Battling for customers is another one of the worst ecommerce disadvantages. The reality is the best niches are often the most competitive.

However, the more competitive a niche is, the more expensive ads for that niche are. There are a couple of ways around this. First, you can execute a different marketing strategy than your competitors. If all your customers are being targeted by competitors through Facebook ads , you might try ranking organically with SEO optimization. If all your competitors are using Pinterest , you might try Instagram marketing if your audience is very visual.

Second, if your ads are expensive, you can send traffic to blog posts and retarget your customers who visit them to create lower-cost ads. Working on CRO campaigns can help you be much more successful than your customers. If a customer has a question in store a salesperson is on the floor ready to answer them. However, an ecommerce disadvantage is that most businesses experience a delay responding to customer inquiries. The reality is most customers expect a response from a business within the hour on social media. If you delay in responding to their message, they can become angry and shop somewhere else instead. You can hire customer service representatives who are trained to make your customers happy via Upwork.

Or you can work with a chatbot to help customers find their answers any time of the day or night.

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