The worldwide spread of the COVID-19 pandemic has changed how people buy products and services and how they perceive e-commerce. The lockdown rules across India had created a hesitation among consumers to go outside and shop for essential goods and are thus pushed towards e-commerce. Due to the current emerging e-commerce businesses, the need for web design and development services had been increased.
Since the time when social distancing has been initiated for almost the entire 2020, the scope of digital purchases and digital businesses was expected to surge. Many people are accepting the concept of online retail and the increase in first time users on e-commerce websites is visible.
Consumers have switched from shops, supermarkets, and shopping malls to online sites for the purchase of products from basic commodities to branded goods. There was an increase in the sales of companies that do eCommerce web design and development services.
What is eCommerce?
At a foundation level, eCommerce is the process of doing business by buying and selling products/services online. Some of the topmost eCommerce retailers to gain popularity and sale in the digital age were Amazon, eBay, Flipkart.
For retail merchants who only sell in their physical locations, eCommerce can seem like an adoptive option. Especially since the market for eCommerce is growing significantly towards the future.
Types of e-commerce
Business to Consumer (B2C): This is the most popular e-commerce model. Business to consumer means that the process of selling is taking place between a business and a consumer.
Business to Business (B2B): B2B e-commerce refers to the selling of a product or service to another business, like a manufacturer and wholesaler, or a wholesaler and a retailer. B2B e-commerce is not consumer faced, and usually involves products like manufacturing materials, software, or products that are combined.
Direct to Consumer (D2C): Direct to consumer e-commerce is the latest model in the eCommerce industry. D2C is the process of selling directly to its end customer without going through a distributor, retailer, or wholesaler. Subscriptions are one of the popular D2C items, and social selling via platforms like Instagram, Facebook, etc. are popular platforms for direct-to-consumer sales.
Consumer to Consumer (C2C): This e-commerce type refers to the selling of goods or services to another consumer.
Consumer to Business (C2B): Consumer to business is when a person sells their products or services to a business organization.
Why Should Your Business Shift to Ecommerce now?
According to major statistics, the market opportunities for eCommerce in India are expected to be above $200 billion by 2026.
One of the Business data platforms stated that the consumer retail segment is expected to see an increase in losses ranging from 3-23%, depending on the market.
In 2018 the average retail e-commerce revenue per user was around $50 which is expected to go up above $75 by 2024.
This data shows how much your business can boom through eCommerce services during this period. For best ecommerce website development services contact MetroMindz – A leading ecommerce web design and development company in Bangalore.
Advantages of having an E-commerce Website for Business
Faster buying process
Customers can reduce the time spent on shopping. They can simply browse through many products at a time and buy what they like. When online, customers can find items that are in stock at physical stores far away from them or not found in their nearby locality.
Overcome Geographical Limitations
If you have a physical store in any location, the area of your service is limited to a few km. With an e-commerce website, you can overcome the limitation of your area for service.
Gain New Customers
Physical selling is driven by branding and relationships. In addition to these, eCommerce retail is also driven by traffic from search engines which will help you gain new customers.
Lower Costs Than Physical Store
Setting up an eCommerce business costs less than setting up a physical store. Social media, Google Ads or organic search provide cost-effective ways of marketing your online business.
Locate the Product Easily
On an e-commerce website, customers can use a search box or click through the navigation bar to narrow down their product search. This will help them to locate a product quickly.
No Need Of Travelling
During this covid situation, it is unusual for customers to travel and buy products. By building up an eCommerce website for your business with the help of any eCommerce web design and development company you can make the customers virtually visit the store with just a few clicks.
Showcasing Abundant Information
In a physical store there are certain limitations to the amount of information that can be displayed. Whereas eCommerce websites can make an additional set of information easily available to customers.
E-commerce websites can remain open all the time. From a merchant’s point of view, it will increase the number of orders they receive and from the customer’s point of view, it will be more convenient.
Insight On Customer Data
One of the advantages of an eCommerce website is that you can easily gain access to customer data for analysis. Most people may feel uncomfortable giving away their email address or contact number to physical retailers.
In eCommerce, you can get access to your customer name, address, email address, and contact number. That means you have multiple ways to communicate and build a future relationship with them.
Easier to scale up
Scaling up or growing a physical store requires more space, expense employees, etc. But it’s very simple to grow an eCommerce store, which is one of the benefits of e-commerce for businesses
All you need is more inventory, digital support from the best web design and development company, and possibly more storage space, which is far less costly than storefront space.
Building up a new e-commerce business website and running is now simpler compared to a physical store. It involves low costs and low risks than setting up a physical store.
As long as you have a perfect business plan and have products/services that cater to the needs of your customers, the internet is here to offer a steady income as well as high profits in the long run.
If you are looking for professional ecommerce website development services, we are here to help you walk the path to success.