- Convenience: Ecommerce can occur 24 hours a day, seven days a week. Although ecommerce may take a lot of work, it is still possible to generate sales as you sleep or earn revenue while you are away from your store.
- Increased selection: Many stores offer a wider array of products online than they carry in their brick-and-mortar counterparts. And many stores that solely exist online may offer consumers exclusive inventory that is unavailable elsewhere.
- Potentially lower start-up cost: Ecommerce companies may require a warehouse or manufacturing site, but they usually don't need a physical storefront. The cost to operate digitally is often less expensive than needing to pay rent, insurance, building maintenance, and property taxes.
- International sales: As long as an ecommerce store can ship to the customer, an ecommerce company can sell to anyone in the world and isn't limited by physical geography.
- Easier to retarget customers: as customers browse a digital storefront, it is easier to entice their attention towards placed advertisements, directed marketing campaigns, or pop-ups specifically aimed at a purpose.
eCommerce Services
Electronic commerce (ecommerce) refers to companies and individuals that buy and sell goods and services over the Internet. Ecommerce operates in different types of market segments and can be conducted over computers, tablets, smartphones, and other smart devices. Nearly every imaginable product and service is available through ecommerce transactions, including books, music, plane tickets, and financial services such as stock investing and online banking. As such, it is considered a very disruptive technology.
KEY TAKEWAYS
- Ecommerce is the buying and selling of goods and services over the Internet.
- It is conducted over computers, tablets, smartphones, and other smart devices.
- Almost anything can be purchased through ecommerce today; for this reason, ecommerce is often highly competitive.
- It can be a substitute for brick-and-mortar stores, though some businesses choose to maintain both.
- Ecommerce operates in several market segments including business-to-business, business-to-consumer, consumer-to-consumer, and consumer-to-business.
