The opportunity to sell online has become a turn-key opportunity for businesses.
Instances such as the pandemic and the growing competition have led to the multi-faceted benefits of an eCommerce website. An eCommerce website is the best marketing tool and perfectly communicates the brand story and reputation.
As per studies, 95% of shopping will be done online by 2040, which will turbo-charge revenue for brands on the platform.
What is the primary reason for eCommerce platforms to thrive? It is that customers want their desired product right here, right now! But what does that mean for sellers? Let’s check it out ahead.
eCommerce is referred to as buying and selling goods online. In a broader sense, it means purchasing and selling goods, services, and information over the internet. This process uses one or more devices without visiting a physical store.
Shopping online is facilitated with internet marketing, electronic funds transfer, and mobile eCommerce.
This process is divided into two parts:
- Online retail shopping goes directly to consumers through an app, websites or voice assistants, chats, and chatbots.
- Sellers on an online marketplace, where third-party sales take place.
Table of Contents
- #1: A Quicker Buying Process
- #2: Store and Product Listing Creation
- #3: Affordable Advertising
- #4: Flexibility
- #5: Product and Price Comparison
- #6: A Free Reach
- #7: A Wider Audience Base
- #8: Offers Market Niche Products
- #9: Cost Reduction
- #10: Helps Collect Customer Data
- #11: Enables Easy Exports
- #12: Prompt Response to Demand
- #13: Easy Scalability
- #14: Diverse Payment Modes
- Benefits of eCommerce – Key Takeaways
The eCommerce advantages are:
#1: A Quicker Buying Process
With an eCommerce website, customers spend less time looking for their desired products. They should be able to browse the products and find what they want smoothly. This helps buyers find products that cannot be found in physical stores in just a few clicks.
Besides choosing from a wide range of products, it is also delivered in a timely way.
Moreover, audiences can read the description and add the product to the cart in no time.
#2: Store and Product Listing Creation
Product listing is the list of products customers see when looking for a product. It requires the product name or codes such as EAN, UPC, ISBN, or ASIN. Businesses can personalize their product listing after creating them. Since doing so takes less time, the process is much easier for businesses.
Sellers can add images, descriptions, prices, product categories, delivery dates, and shipping fees. Doing so showcases the inventory and multiple brand aspects. This makes the product seem attractive, appealing, and detailed.
Some product listing rules include:
- High-quality resolution images. Blurry images might look unprofessional
- Maintaining image dimensions. The eCommerce marketplaces usually recommend a resolution format
- Provide multiple product views. A 360-degree viewpoint is preferable
- When adding product variant images, ensure each variant has a different image
The sellers get options for customization, such as mentioning offers, seasonal sales, product bundling, discounts, and more. This can be done by creating scarcity, such as countdowns. Other advantages include being free to upload and faster.
Brands can include demo videos, reviews, dispatch-ready offers, expected delivery time, and more. These details remain online 24x7 so that customers can check them whenever they want. Sellers can also add more products and remove out-of-stock products.
77% of customers read product reviews before making a purchase.
#3: Affordable Advertising
eCommerce benefits include preventing additional expenses on advertising by offering a quick and affordable way to market the product.
Since these marketplaces are visual channels, sites like Amazon help sellers showcase their products with high-quality images, infographics, and videos.
Sellers can add customized deals, sponsored ads, and coupons to add life to the listing. Customer insights can be analyzed with a tool. These tools show the pending orders, shipped, sent, canceled, returned products, and more.
eCommerce marketplaces are open 24x7. The seller offers their product or services at any time.
These conveniences make returns easier. Other flexible features include free shipping, express orders, subscriptions, deals, and discounts. Furthermore, sellers can run the eCommerce store all by themselves, reducing the need to hire employees.
Buyers can also easily share reviews. These reviews build credibility and highlight the best-selling products.
#5: Product and Price Comparison
Product and price comparisons are yet another advantage of eCommerce.
These comparisons give a clear idea about the available products and the standard rates.
As details are available online, buyers can access the information anytime, choosing from a comprehensive product, price range, discount metrics, and brands.
Hence, this leads to more informed decision-making.
This can be done by:
- Other customers’ reviews
- Products usage videos
- Product descriptions and guides
- Social validation via testimonials and case studies
Browsing various listed products that can be purchased anytime leads to buyers being confident in buying the product.
#6: A Free Reach
An eCommerce store can cater to countless buyers regardless of the time and location. Moreover, refunds and replacements can be initiated anytime, so sales aren’t affected by a store’s opening hours. However, some stores can have specific limitations.
Additionally, Chatbots ensure prompt and efficient customer service round the clock. This also saves a customer’s time and leads to strong customer relationships and an improved ROI compared to the competitors.
A dedicated logistics and delivery system is also substantial, leading to a wider customer base.
#7: A Wider Audience Base
eCommerce websites also allow brands to sell their products to an overseas audience base. This blurs the geographical boundary and creates brand awareness globally.
This can also be done with a targeted SEO strategy which helps the product to be easily found amidst the competitors' results. Detailed keyword research helps the product appear on the top of SERPs. Likewise, brands should ensure that product descriptions are unique, up-to-date, and optimized. Brands can also resort to being active on social media and forums, consistently posting blogs, and setting Google AdWords for PPC Advertising.
SEO can also be incorporated in:
- Blog posts
- Video Content
- Podcasts and other content verticals
On the other hand, search engine visibility also serves the physical outlets well. The benefits include increased foot traffic and amplified sales.
#8: Offers Market Niche Products
Buyers and sellers of niche products often face a hard time finding them. Instead, such products can be easily located in an online store.
All it takes is to type the relevant keyword, and the search engine will list the product. This creates an easy opportunity to cater to a niche market.
This also ensures improved market exposure, leading to a broader audience base.
#9: Cost Reduction
Cost reduction is one of the most notable benefits of eCommerce for a business, keeping sellers interested in selling in eCommerce stores.
Physical stores have to pay a lot for maintenance. This includes rent, repairs, inventory, store design, and more. eCommerce solutions for small businesses help reduce such add-on costs.
This allows small businesses to begin a business without an extremely high cost. From the launch to maintenance, the costs are limited to web hosting, domain name, web design, logo design, and a low sign-up fee. Moreover, automation can also reduce costs considerably.
Models such as drop shipping businesses also eliminate substantial upfront investments in inventory.
Besides the sellers, the cost reductions also translate to savings for the customer. Additional discounts and promotions offer products at a lower price than traditional sales methods.
Furthermore, Google AdWords and social media marketing have made advertising cheaper than offline marketing tactics. The benefits of eCommerce to consumers are lower prices and more sales for the brand.
#10: Helps Collect Customer Data
An online store offers customer data that is not accessible through a physical store.
This also offers a less-invasive method of getting in touch with the consumers.
This extends to secondary data such as demographics and consumer behavior, which is available through Google Analytics. Such insights help analyze the customer journey effectively.
This data can highlight best-selling products, list cart abandonment rates, and gauge buying habits.
This helps nurture relationships, target customers effectively, improve shopping experiences, retarget customers, and offer personalized product recommendations.
#11: Enables Easy Exports
Easy exports allow sellers to expand to a global marketplace without investing in physical setups.
This makes the width and depth of the eCommerce market unbeatable.
Besides global expansion, eCommerce websites increase ROI, beat the competition, and build brand visibility.
#12: Prompt Response to Demand
Faster online interactions offer streamlined logistics and delivery systems.
Deals, promotions, and coupons can be applied seamlessly. This is made easier with live chat features, emails, or Facebook messages. Product returns management and refunds are some other benefits.
Even if the customer support team isn’t working, automation ensures that the timings don’t stop the sales process.
#13: Easy Scalability
Scaling up a physical store requires capital, whereas, in an online store, it is quite the opposite.
An eCommerce store doesn’t require security personnel or inventory. Instead, eCommerce stores can process multiple orders at once. Sellers can also develop webshops, eCommerce apps, and profiles on social media to boost their sales.
All it takes is to increase the inventory and tweak the store contents. Brands can also scale without setting up a physical store at another location, as the customers are always within their reach.
#14: Diverse Payment Modes
Personalization must also be imbibed into payment modes. eCommerce websites have multiple payment modes, so customers are free to pay in their preferred option.
This includes UPI, cash on delivery, net banking, card on delivery, and EMIs on credit and debit card usage.
Benefits of eCommerce – Key Takeaways
eCommerce sales are expected to grow to 5.4 trillion in 2022.
Though we agree that online and offline presence matters to businesses, the current times highly favor online eCommerce businesses as it bridges gaps most effectively.
Adding a layer of personalization can make this model highly beneficial.
eCommerce websites eliminate the need to step out in any weather, wait in the queue, look for a parking lot, and travel long distances to buy what you want. Moreover, sellers don’t have to do much as buyers are guided to the product with automation.
Brands only need to take the first step. The demand for a smooth shopping experience already exists!