Ecommerce refers to a form of business that sells products or services over the internet. Unlike traditional “brick and mortar” stores, online stores have no physical location where you can go to purchase what you want.
An eCommerce is a form of business that sells products or services over the internet. Unlike traditional “brick and mortar” stores, online stores have no physical location where you can go to purchase what you want. In this blog post, we will discuss what eCommerce is, why it exists, and how it has transformed the shopping industry.
How eCommerce Came to Be
eCommerce is the act of buying and selling products or services over the internet. Sometimes people will use “eCommerce” to talk about any commerce that occurs over the internet, but this is not technically accurate.
The idea for eCommerce came to fruition in the 1990s when the world wide web was created. There were no stores online, so people had to create their own websites to sell goods. But before this, there were some earlier forms of eCommerce happening in different places around the country.
For example, in 1957 Louis Borders opened his first retail store near the University of Michigan's campus in Ann Arbor, Michigan. He did not have any other stores at this time and called it “Borders Book Company.” He was one of the first to sell books through an independent bookstore. He then realized that he could sell more books if he sold them by mail order because it was cheaper than storing them all in his store.
This led him to open a second store in 1969. Today Borders has many locations all over America and around the world where you can purchase books among other things like CDs and DVDs.
The Benefits of Ecommerce
Ecommerce has many benefits to the retailer and consumer. It is easy for retailers to set up their own online stores. They can list products, take orders, send out shipments, and maintain their inventory without ever having to worry about a physical location.
Consumers also benefit in that they can shop when it is most convenient for them. Instead of driving to the store at opening hours or waiting in line with other shoppers, they can browse through an online store when it is most convenient for them.
A major advantage of eCommerce is that when the customer clicks “buy,” the product is shipped straight away. The customer may receive the product within hours of clicking “buy.” This service level reduces customer frustration because they are no longer waiting days for a package to be delivered by mail or pick up the package at a local store.
The Advantages of Ecommerce
One of the main reasons why eCommerce exists is to provide a way for people who can’t get to a physical store to make purchases. For some people, the only time they have free time is in the evening, and this may not coincide with when stores are open on weekdays. Online shopping also provides convenience for people who live in remote areas and don’t have access to certain products or brands.
For example, if you live in an area that doesn't offer a particular type of appliance, you could order it on the internet from a store that does.
Ecommerce also offers more variety than traditional brick-and-mortar stores because it doesn't have a limit on space or a requirement for stock. Ecommerce websites can show hundreds of products at once, so customers don't have to browse through racks of clothes or shelves of DVDs looking for what they want. In addition to providing more variety, eCommerce websites like Shopify also allow customers to buy from multiple sellers without visiting different retailers.
The Disadvantages of Ecommerce
While eCommerce has many positives, it also has some disadvantages. For example, it is difficult to assess the quality of an eCommerce store before you purchase something from them. This can be a real issue if you are ordering products that are expensive or require you to trust that they are what they say.
It’s also much harder to gauge customer preferences when you are not talking to them in person. When customers come into your physical store, they may want to know more about your products before making their decision.
They might ask questions about shipping costs or if there are any hidden fees associated with the product they want to buy. If you don’t have a physical store, these questions will go unanswered until after the customer has already bought what he or she wanted online.
The eCommerce industry is constantly evolving, which means retailers are always looking for new ways to increase sales. What are some of the newest trends?
Retailers are incorporating chatbots into their websites to help customers find what they're looking for. Chatbots use artificial intelligence to respond to customers' questions and provide recommendations based on the customer's history on the site.
Retailers are also using augmented reality to make shopping easier. This technology can be used to show customers what a product would look like if it were in their home or office.
Fashion retailers are also getting creative with click-and-collect options. For example, customers who are shopping for clothes online can make an appointment to pick up their items in the store before they arrive.
Retailers are also looking at how social media can help increase sales. For example, retailers can offer deals exclusively on social media platforms in order to generate hype and promote sales.