E-COMMERCE:
E-commerce refers to the trade of goods and services electronically over the internet. It may include funds and data transfer. It works in contrasting market segments using different devices i.e. Computers, Mobile Phones, Laptops, Tablets, and other smart devices. Currently, it is attention-seeking technology because all imaginable products and services are available via ecommerce such as outfits, costumes, shoes, cosmetics, grocery, tickets, banking, and stock investment etc.
Small and large businesses are growing in electronic marketspaces and supply chains operated on Web. Customers oriented dealings large electronic malls like Amazon, e-bay which is marvelous customer-to-customer auction platform, magnificent multichannel retailers including L.L. Bean, and many other e-retailers use ecommerce. Ecommerce makes expeditious services on demand available like transportation like Drive-in, and Bill payments like easy-paisa. Ecommerce is improved a lot and still advancing swiftly.
TYPES OF E-COMMERCE:
E-commerce have distinguished categories based on participators, goods, and business models. Types of ecommerce based on participators are:
- Business-to-Customers (B2C)
- Business-to-Business (B2B)
- Customer-to-Customer (C2C)
- Customer-to-Business (C2B)
- Government-to-Customers (G2C)
- Government-to-Business (G2B)
Categories of ecommerce base on goods are:
- Digital goods
- Physical goods
- Services
Variations in ecommerce on basis of business models are:
- Drop shipping
- Warehousing
- Private labelling and manufacturing
- White labelling
SUCCESSFUL E-COMMERCE BUISNESSES:
Behind every success, there is a secret. Since May 1989, introduction of ecommerce, it is enhancing bit by bit and today it touches the sky and making money by selling their goods and services. Most common type of ecommerce used in all times is Business-to-Customer (B2C) with magnificent money-spinners and e-retailers. Many successful ecommerce businesses are flourishing towards 2022; some of them are as follows:
- Shopify
- Torrid
- Grand Vision
- Bonobos
- Fly Lady
- Dollar Shave Club
- Amazon
- Warby Parker
HOW TO MAKE ECOMMERCE BUSINESS SUCCESSFUL:
Looking forward to enhance ecommerce business and gain success, website design is very important. UI of website will make business flourish and gather more audience and customers to website for selling contrasting goods and astounding services.
Ecommerce will keep its upward trajectory if handled it in right way. Total US retail sales of 2019, 2020, 2021, and first quarter of 2022 are $187.3 billion, $811.6 billion, $960.1 billion, and $250.0 billion respectively. In addition, it will keep increasing by focusing on the critical tips of ecommerce business. Top ten tips for successful ecommerce business include:
1. KEEP IT SIMPLE:
The first vary factor for ecommerce website is convenience factor, which is very important because customers nowadays frustrates to wait for long time. Keeping website simple and avoiding complicated return policies will reduces the Load time and it will not test the patience of customers.
One of the best rule for developing ecommerce website is “KISS”- Keep It Simple, Silly! The design must be simple, with desirable amount of images, colors, text and videos because it will avoid distractions and maintains customer’s focus on sale.
2. DO NOT RUSH THE LAUNCH:
Do not rush the launch of your business and mess it up. There must be one shot at launching website, purchase domain name and through “COMING SOON” page before launching it. Advertise ecommerce business with Substantial ground work i.e. SEO, paid advertisement, content marketing, and social media.
It is natural to start something new as soon as possible, but it is not a good idea to launch without proper time management and prepared procrastination. It takes time to view website critically before launching to launch it with positive buzz. Successful launching is first step towards successful business.
3. MAKE BRANDING A PRIORITY:
Branding is DNA of ecommerce website; it reveals who you are as a company, what are goals of business, and how your business is different from the other competitors in market. Make a perfect brand for business whether it takes time, money or other resources but it will provide fruitful results.
Customers do not trust on any ecommerce local website as they thought them to be information stealers of frauds. However, defining brand will surely attract majority of audience and it will built customer’s trust and relationship between business and customers.
4. MAKE IT LOOK PROFESSIONAL:
Professionalism is key to success in business. Invest resources in developing professional website because customers only trust professionals, select professional design for website and it will build trust among customers to share their sensitive information and buy products and services from website.
Use high quality images and videos, Select perfect desirable colors, design professional logo and make content scan able for customers. It will make website professional and leads towards success.
5. MANAGE CASH FLOW PROPERLY:
It is surprisingly hard to monitor all incoming and outgoing money, so managing cash flow is very important in ecommerce business. Master skills of managing cash flow is required for successful ecommerce business.
6. PUT FOCUS ON USER:
Customer’s focus is one of very important aspect of ecommerce business. The website should be user friendly so customer can easily manage the orders, feel easy to use, and share with their friends and relatives.
While designing website think as a visitor or a customers and design it accordingly. Adjust best price ranging of products and services, make checkout process simple, and give free shipping with return policy.
7. BUILD CUSTOMER PROFILES:
For successful ecommerce business, collecting information of customers is necessary, information includes their interests, their range of orders, frequency of orders and reviews about orders. Building customers profiles will help to increase sale rate and create database for future launches.
8. CONTINUE EVOLVING:
Evolution is undeniable truth that is taking place across the world. Every product and services are changing with time, so it is very important for the success of ecommerce business to apply changes with respect to change in customer’s requirements and desires.
9. USE SOCIAL MEDIA:
4.62 billion People are using social media across the world. Advertising business across social media is great choice for successful ecommerce business. Targeting required audience is very simple using social media, which results in increase in click trough rates and product sales.
10. USE DISCOUNT SALES:
Using discount strategy will lead to great success on specials events i.e. Independence Day, New Year, and launching. It will attract bulk or customers and increase sale of goods and services.
Kingdom Vision Los Angles is one of the leading web design companies in Los Angles, California USA, known for its best e-commerce web design and development services, helped hundreds of businesses in their ecommerce success online. Find out more about Kingdom Vision here: https://kingdom-vision.com/