ECommerce is starting to be one of the biggest trends in the big world of business. It is a very broad term you may hear a lot, but what actually is it? Ecommerce, also known as electronic commerce or Internet commerce, refers to the buying and selling of goods or services using the Internet, and the transfer of money and data to execute these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the Internet.
Reasons Why Your Business Needs Ecommerce
What kind of businesses can do Ecommerce? All of them! Because any company can do Ecommerce, it opens up opportunities for everybody. Some examples can be B2C (Business to Consumer), which means a business is selling directly to a consumer (Amazon) or C2C (Consumer to Consumer), which means it is usually a marketplace of consumers selling to each other (Ebay). Any way you put it, the opportunities are endless! The Ecommerce world has grown substantially year after year, with market projections suggestion it will be a $27 trillion industry by 2020. Yes, that’s trillion with a t.
If you are a business owner, you might want to keep reading. Next I am going to show you a few reasons why an Ecommerce site will take your business to new levels.
Global > Local
A lot of people don’t realize the opportunities that eCommerce can offer. Having an online shop means that your store is never closed. People around the world can purchase items from your shop at the click of a button, and you can actually make money while you sleep. A part of this that a lot of companies miss is the fact that you have a bird’s eye view at all of your customers buying history! Track each sale and see which one of your products needs to be pulled and which ones you need more of. Having a company that has access to a global market can do wonders for a business. If you’re already convinced, visit www.syncoria.com to get a free e-commerce application. If you’re not sold yet, keep reading.
Overhead Costs
This is one of the biggest reasons businesses go online. MONEY. Mostly because you make more and save even more! Let me break it down for you. Having an Ecommerce-only business allows you to save a lot of money in expenses a brick-and-mortar store tends to take on. Things like:
- Rent
- Utilities
- Hiring more employees for in-store sales
Realistically, you’re still going to have bills no matter what type of business you have. But any chance to lower them down is a bonus!
For example, let’s say you own a hat company and you’ve noticed 80% of your sales have started to shift to online. You’re paying thousands in rent for your store front, and you have 4 employees. You’re getting your hats made from a third party distributor and you only need enough space to store your inventory and re-package your shipments. This gives you an opportunity to downsize in your location and up your production rate. This also means you don’t need all four employees for your storefront. Putting your savings in the thousands per month.
This is a big reason why businesses are shifting to online. Online sales are the future and a lot of brick and mortar storefronts are having a hard time keeping up.
Still not ready for your Ecommerce? Keep reading.
Influence your purchases
Lets face it, buying online is easy. Rather then spending tons of time inside of a store searching for an item you can search for it with the click of a button. Most of the time it’s even cheaper. Buying online allows you to buy directly from the retailer with no hidden mark up fee’s. With everyone having such busy lives it becomes easier and more realistic to make online purchases.
Promoting online has become even easier as well. With social media outlets such as Facebook, Twitter, and Instagram. Facebook and Instagram have both welcomed Ecommerce to their sites. Instagram alone has already seen 90 million people engage with “Shopping Stories” which means people that many people interacted with content that isn’t even permanent.
Ecommerce also allows you to offer a larger variety of products. Potential buyers go to the Internet looking to browse around. Instead of having everything on shelves you can have every single product showcased on your website ready to be purchased at the click of a button.
So, are you finally ready to try your free Ecommerce website? Contact us www.syncoria.com to book your demo at the next available date.