An e-commerce website through which one can sell or buy products online. E-Commerce, also known as electronic business. It is defined as the purchase and sale of goods through an electronic medium called the internet. It is a source of transferring data between two parties. Furthermore, it is online shopping in simple words.
E-commerce was introduced back in 1960 when companies started using electronic data interchange for transferring the documents of their business. In today’s world, anyone can buy anything from anywhere with just a few clicks.
The popularity of e-commerce has risen after the smartphone era, now you can buy any product through e-commerce sites by mobile phone. All you need is stable internet. You can go for any product from small to giant size without going shopping physically. It is expected that e-commerce sales will increase to 15.5 percent of sales worldwide.
Earlier, e-commerce was possible through emails and phone calls only. Now after the evolution of the internet and smartphones it is possible through applications and links also. An E-commerce website is an online platform that provides a facility for the online transaction of products with the transfer of all details through the internet.
eCommerce websites have been categorized differently, based on the function they fulfil.
Business-to-Business (B2B): It is the transactions of goods and services between two companies. Example: one business sells SAS products to another one.
Business-to-Consumer (B2C): it is the process through which transactions of goods and services take place between consumer and company. Just like you buy a new cloth from an online store.
Consumer-to-Consumer (C2C): Transactions of goods and products through a third-party source are termed consumer to consumer.
Olx and eBay are the most common examples where people sell their unusable goods to another one.
Consumer-to-Business (C2B): you must have seen social media influencers offering you to buy products. It is called consumer to business where an individual offers products to an organization.
How does eCommerce work?
Purchasing products at e-commerce is just like the physical retail industry. Buying online is the only difference here. You can check out all products available in the store before opting for a desirable one.
E-commerce generally starts with setting up an e-commerce website. All details such as product description and price will be displayed there.
The buy now option will be placed beside the products for purchasing. If a customer finds a product is purchasable they can simply click on the buy now button.
After clicking on the buy now customers need to fulfill all details such as an address, contact number, city pin code, and alternative number.
There are various payment options available for paying a bill. One can pay through digital methods like PayPal, or they can use credit cards also. Cash on delivery option is also available there for customers.
E-commerce companies also give you an option of refunds, which means if you are not satisfied with the products or the company has given you inaccurate goods, you can refund that product through the same website, and they will refund your money after completion of all processes.
All you need to do is to notify that e-commerce site of the return process, they will send their employees to your address, they will check if the product is okay or not and if they are satisfied they will take back your product at the same time.
How to build an e-commerce website?
One can expand their business in major traffic through online marketing. Selling products online is a superior way to make an extra profit in your business. The advantages of e-commerce websites are far superior in comparison to physical shops. And now from small to multi-brand businesses, each one is taking their business online platform.
You must be wondering if you need to have a rich amount of knowledge in the tech field for setting up an e-commerce website. It’s nothing like that. All you need is some basic knowledge of WordPress to utilize WordPress themes supported with Woo Commerce. After that, you can modify e-commerce sites in various ways.
Advantages of e-commerce websites.
The low costs, the flexibility and speed, and the high levels of data are some major advantages of e-commerce websites.
Opening a shop can be expensive. You have to pay for various resources like rent, equipment, and maintenance. Sometimes you have to adjust to a small place to avoid high rent.
With an online business, you can save a handsome amount of money. All you need to pay is to build a website and for coding.
You will have an option to opt for a hosted website. These e-commerce websites are available already and all you need to do is to buy them and customise and modify them as per your requirements.
An e-commerce website can be running in just a few days through a hosted solution. A custom-built website will definitely take longer.
An eCommerce business is flexible and superior for you. It gives you the facility to work from anywhere with a stable Internet connection. You don’t even need to have office space; you can handle all work by sitting at home.
Online marketing is dominating in today’s world. The evolution of smartphones has taken online platforms to a high extent.
Ecommerce websites are the most popular figure and companies have started shifting here. If you are looking to open a business and have a target to drive it rapidly, you can opt for online marketing. One has the opportunity to explore their business to as many customers.