Image source Pixabay.com
E-commerce is all about buying and selling on the internet, that is shopping differently from the traditional methods. The E-commerce sector has gained ground in recent times as customers can sit in the comfort of their homes to shop for quality goods on the internet.
So we can say, E-commerce is the practice of shopping over the internet. This practice is gradually taking over what we will buy and sell in the future. E-commerce operates just like traditional stores, the only difference is that they are hosted online and can serve customers over the globe.
Brief On the E-commerce Industry
The first online purchase was done on August 11, 1994, by Phil Brandenberger using his credit card. That marks the beginning of E-commerce, which has become the most transformative industry in the world. Now we can talk about shopping without immediately thinking of the internet. Today E-commerce is becoming the easiest and future of buying and selling. As you can eventually buy everything starting from electronics to edible products over the internet. E-commerce has brought shops to the doorstep of customers offering solutions that the physical stores can't. In the traditional stores, you need to dress, take a cap, walk around to find what you want, and purchase(no matter the price). With E-commerce, you have all the time to shop at your convenience and will purchase at your comfortable price.
Image source Pixabay.com
The Future of E-commerce
E-commerce is a whole industry on its own and gradually taking over the traditional buying and selling methods. It is a transforming sector and opening opportunities for others to join as it takes over in the next few years.
Personalization is an important factor in the future of e-commerce as online shopping is not a one-size-fits-all approach. With e-commerce, you need to know the customer's habits in both buying and selling to avoid losses. The retailers make a huge profit as customers get to connect with the products they like, and some products they did not know they needed. The online market goes as far as recommending products to customers based on their purchase history or falling on ads running on another website. Optimizing shopping connects customers to similar products they have been looking for for a period.
Mobile devices have been the reason behind the huge boost in the e-commerce industry, as customers can shop anywhere. Buying will not be restricted to your desktop, over 65% of e-commerce traffic is via mobile devices. So optimizing for mobile users will help boost the customer base and make customers happy. The innovation of e-wallets on mobile devices, as well, makes it easy for customers to purchase products from their mobile devices with no waste of time.
- Shopping experiences
E-commerces balance the customer experiences no matter where the customer is shopping from or what device the customer is using. This aspect gives customers a high amount of purchasing power and satisfaction.
E-commerce is subdivided into small subcategories, breaking into how the products are digitally sold to the customers from the store. Let's have a look
- B2C(Business to Consumer) E-commerce
B2C E-commerce is the situation where an online store sells or offers physical goods or services to individuals.B2C is the common form of e-commerce as individuals purchase products from an online store. Example Amazon, Walmart, etc.
- D2C(Direct to Consumer) E-commerce
D2C E-commerce is the situation where the e-commerce shop is owned by the companies selling the products. the D2C companies sell direct to their customers, reducing the traffic the B2C e-commerce face on their platform, and taking off the middleman(retail stores)
- B2B(Business to Business) E-commerce
B2B E-commerce is the situation where a business entity sells or offers its products or services to another business entity. We can illustrate this type in the case of a software company purchasing hosting services from a hosting company. Examples are Microsoft, Oracle, etc, which are companies that offer various technology solutions.
I will end by saying the future of e-commerce is sure and nothing can change it, the industry is among the fast-growing industries today. So I think it is time for everyone to join the trend, especially those who are scared of buying online. I will look at the security of e-commerce in the days ahead so it can boost the morals of some of us.
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