E Commerce is one of the most important facets of the internet to have emerged in the recent times. Ecommerce or electronic commerce refers to buying and selling of products, services, ideas and transferring of funds – all electronically using internet. The benefits of eCommerce to online store owners are…
- Lower cost of store setup – Setting up eCommerce business (online store) is comparatively cheaper as compared to setting up a brick-n-mortal store.
- Lower maintenance cost – Lower or no expenditure on store maintenance, invoice preparation, supervision of staff, product placement in store, store supervision etc.
- Almost error free transactions – Since whole system is managed by a web application, the chances of error occurrence are almost zero.
- 24/7 selling – Online stores never close. You can sell virtually 24 hrs a day and 365 days a year.
- Online catalog of products – Even for offline buyers, your website provides detailed product information. This directly increases the off-line sale at physical store.
- Reduced marketing and advertising cost – Internet marketing can be highly targeted to specific customer profile; it is more effective and provides a higher return on investment than traditional print or electronic media advertising.
- Better analysis and reporting – Tracking the best and worst selling items – and overall customer purchase volumes is easily possible in case of online store!
- Expanded geographical reach – The most apparent benefit of eCommerce is its global reach. Anyone from any country can visit your website and buy products online.
- Better customer loyalty – eCommerce system provides the means to create an effective, automated customer retention program by offering digital coupons, online feedbacks, newsletters.