We have all heard the word E-Commerce, right? But what does it mean? This week we will be discussing how E-Commerce has changed the business world, and the benefits of starting an online business.
E-commerce is also known as electronic commerce or internet commerce, this refers to buying and selling products or services using the world wide web – The internet. Here are our top 5 benefits of e-commerce 😊.
E-commerce has a lower startup cost then a physical retail store, as you would have to pay up to thousands of pounds to rent the store space. Don’t forget that there are other costs involved such as; sales equipment, buying inventory, store design, paying various staff members and more.
This is what makes an e-commerce business more attractive because the expenses are generally much lower.
2. 24HOUR INCOME!
Everyone knows that the stores on the high street eventually need to close at the end of the day. However, with an e-commerce business, you can be available to a worldwide audience at all hours of the day. Having the ability to attract people who would normally not be able to hit the high street stores makes this additionally profitable.
3. INTERNATIONAL MARKET!
It’s so easy for a new brand to sell to customers all over the world! Using digital media marketing you can discover your audience anywhere across the globe.
4. FLEXIBILITY to RETARGET or REMARKET
When running an online business, you can create retargeting ads to retarget customers who have visited your site, left items in their basket, or customers who have visited a blog from a related website. The ability to retarget these customers helps to close your sales. After you’ve made the sale, you can continue marketing with an effective pop-up or lead magnet. Following this method email addresses can easily be collected.
5. AVOIDING THE HIGH STREET
Face it! Not everyone likes walking down the high street, entering stores, dealing and interacting with store employees. E-commerce provides a less invasive environment.
Live chat features have been added to a lot of e-commerce sites, so that customers can speak with customer service directly, other methods of contact are also via email or social media i.e. Instagram, Facebook and twitter.
We thank the existence of e-commerce, because consumers can buy almost everything and anything at any time of the day from the click of a button. There’s beauty in visiting your high street shops from the comfort of your bed or sofa. It’s easy and you can shop however you want to shop with no one to bug you!