WHATE IS E-COMMERCE

What is e-commerce?

E-commerce is the practice of buying and selling products and services online. Customers use electronic payments to make purchases from the website or online store. The merchant sends the products or renders the service after receiving the payment.

Electronic commerce has been since the early 1990s, when Amazon just sold books, but it is now a multibillion-dollar sector that has grown even more as a result of the pandemic. E-commerce expenditure reached $347.26 billion in the first half of 2020, up 30% year over year, according to Digital Commerce 360's analysis of U.S. Department of Commerce data. For comparison, during the first half of 2019, e-commerce sales only rose by 12.7%.

It is not unexpected. Customers become accustomed to purchasing everything from food to furniture from internet sites since they had few other options.

According to studies, people are likely to maintain their new behaviors, said Tory Brunker, director of product marketing at Adobe, in an interview with Business News Daily. I firmly believe that this is the new normal.

Several online shopping categories, including over-the-counter medications, groceries, household goods, and personal care products, are expected to expand by more than 35%, according to research by consulting company McKinsey & Company.

How does online shopping operate?

The same standards that govern physical stores apply to e-commerce. Customers enter your online store, look through the merchandise, and then make a purchase. The key distinction is that they don't need to leave their couch to accomplish this.

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Accept the directive. The buyer makes a purchase using your website or online store. The placing of an order will be announced to you.

Activate the order. After that, the order is marked as complete, the payment is processed, and the sale is recorded. Think of a payment gateway, which is typically used to handle payments, as the virtual version of your cash register. What Is a Merchant Account? is a related article.

Deliver the goods. Shipment completes the e-commerce procedure. If you desire repeat business, you must ensure fast delivery. Consumers are accustomed to receiving their orders within two days thanks to Amazon.

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Here's an example of how it actually works when a product is ordered online:

A customer looks over your products in your online store. She finally chooses a shirt. She selects the color and size before placing the item in her shopping cart.

The availability of the product is verified using order management software or an order manager.

When a customer is ready to purchase a product and the item is in stock, she fills out your payment form or page with her mailing address and credit card information.

The payment processor, usually a bank, verifies the customer has sufficient funds in her account or credit available on her card to finish the transaction.

An email letting the customer know the product is ready for delivery will be sent.

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What features should an e-commerce site have?

You need to have a thorough list of the goods and services you offer on your website or marketplace page if you want to succeed at internet commerce. The internet store should be simple to use, friendly to users, and visually appealing. Additionally, it must to be mobile-friendly. Mobile commerce revenues are anticipated to hit $2.91 trillion in 2020 and rise to $3.56 trillion in 2021, per statistics from e-commerce platform Oberlo. It's crucial to optimize your online business for mobile users because so many customers shop on them.

Should I use a marketplace or a website for my ecommerce store?

You need to have a thorough list of the goods and services you offer on your website or marketplace page if you want to succeed at internet commerce. The internet store should be simple to use, friendly to users, and visually appealing. Additionally, it must to be mobile-friendly. Mobile commerce revenues are anticipated to hit $2.91 trillion in 2020 and rise to $3.56 trillion in 2021, per statistics from e-commerce platform Oberlo. It's crucial to optimize your online business for mobile users because so many customers shop on them.

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