In this day and age, we are able to buy goods and services that were not easily available to us a few years ago. Online shopping has increasingly become the norm in many people’s routines, opening the gates to all types of new businesses and products. The E-Commerce definition, in essence, is the trading of a product, or service in exchange for money, online. Normally, the procedure requires an electronic transfer of funds in exchange for such product or service. Because orders are handled digitally, there is little to no room for errors, making and one of the most efficient ways to keep track of all the accounting details.
E-Bay and Amazon are some of the pioneers of E-Commerce, having over 20 years in the industry. However, many other businesses have joined the E-Commerce path, including small businesses and private sellers. However, we can now purchase pretty much anything at the touch of a button, whether phone, tablet or computer.
E-Commerce is possible through the internet. The exchange of details, prices, quantity, quality, payment, and time is exchanged virtually through the two parties. Think about the most random thing you could ever want. All anyone has to do is search for it online, and find such an online store (or platform) that can provide that very thing. Once a buyer has found the product or service they want to purchase, they can make arrangements for the delivery of it. The buyer will pay for this using an electronic bank, such as Paypal or Venmo, or any personal bank that is compatible for both parties. Upon payment, or agreement, the business will know to proceed to deliver or provide what they were paid for.
The most common types of E-Commerce are B2B (business to business) and B2C (business to consumer).
B2B —This type of transaction is primarily held between one company and another. Meaning, a company may need a cleaning service for their location, or paper goods, and will purchase them from another business that provides such services or products. Normally, the invoice is sent electronically, by the company that will fulfill the request, and the interested party will pay for such request with an electronic transfer of the funds necessary, whenever the money is due.
B2C—This type of E-Commerce is a bit different, being that a business will target a certain type of consumer. One of the best examples to clarify this, is Uber. They target consumers that want transportation with privacy, and anonymity. Nevertheless, there are companies that offer an array of products or services. From fresh doughnuts to a photoshoot, there is a company that can be ready to provide anything anyone my desire.
With this type of E-Commerce, the company will be paid electronically after the product or service has been delivered, but it is completely open to discussion among the business and the consumer.
Getting into the E-Commerce world is a must in this day and age. Unfortunately, things like the global pandemic of COVID-19 have made it so. We are no longer available to travel, or do as we please, therefore making it impossible for us to “shop around.” This is why many businesses have opened up to the idea of being more accessible with E-Commerce.
Many small businesses have grown exponentially by making the move to E-Commerce. Keep in mind, the more you can provide, the more your business will and can expand in the global market. Users can easily order from across the globe and feel safe they will get what they expect. Likewise, the more specific goods and services you or your business require, the easier it is for that to be provided.
Having a variety of options is a sure way to begin growth and maximize your profits, in an easy and very accountable way. It is a safe and easy to open your door to a broader market, and provide your best.
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Of course, there are many out there that are sure to fit your needs. Keep in mind, as well, if you want to offer this locally, nationwide, or worldwide. Next, you will set up a payment method. Most platforms have a variety of payment methods and allow credit cards, Paypal, Venmo, Google Pay, Visa Checkout, and many more. If you decide to create your own website, you will be required to structure your own payment method. This can be easily arranged as well with the same stated above.
The next step is to set up your online shop in the best way possible. Having a user friendly site, descriptions and pictures of your product are very helpful. This is key in the E-Commerce world, the better you can provide, the more consumers will place in their shopping cart!
There are many different platforms that can help you set up your business up properly. Remember, you should properly define your product before you decide which E-Commerce platform you will choose. Once you have done research on the best way to promote your product or service, you can decide the new home for your business.
Some of the best platforms we have found for a new E-Commerce to begin with are the following:
There are many more E-Commerce platforms out there, but we believe these are the some of the easiest and most profitable ones to begin with for your business.
The world is advancing at an incredibly fast pace, and so is the market for anything and everything. E-Commerce is one of the biggest advantages we have available to us. The easy access to goods and services has made this one of the most popular ways to shop, worldwide.
E-Commerce has made an endless amount of progress, allowing many of us to purchase things otherwise unavailable to us. Taking that step to provide your products is now a must in order to grow and increase your income. All you have to do is a bit of research, and get ready to begin selling online!
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