Businesses are embracing digital channels to not only advertise their products but also as a medium to sell them as well. Selling products online allows buyers to make transactions at their own leisure and requirement- be it at their homes or workplace, or at odd hours. These days people don’t always have the time to physically visit a market, instead more and more customers prefer to shop online to find the items they want or need.
The universality of online shopping is growing at an escalating rate which makes it an imperative form of business. As per a survey, retail e-commerce sales numbers from 2014 to 2020 will show a growth of around 200%. The growth of technology and automation has allowed brands to gain worthy insights on each unique user by understanding their preferences and dislikes, which allows more unique and personalized services. The notion of E-commerce is beneficial for brands and businesses aiming to expand their sales, as well as their consumers.
E-commerce can be termed as the perfect way to take a brand from an orthodox brick and mortar store to an innovative and trendy brand. By offering unique products for sale 24 hours a day along with online customer interaction, blogs and social media, no longer is a business restricted to one physical store, allowing proprietors to fully expand their product ranges without having to worry about shifting locations or finding new space for inventory or products. Due to the internet’s wide reach and accessibility, thousands of people across the world can view your website at any time, making it an ideal option for individuals willing to expand their businesses and reach out to a larger audience. This can easily be proved by comparing the number of people one can reach through a website to the amount the same business could reach through a physical street store with local advertising, there is no reason why businesses should not look at taking their services online, especially if they are looking to enhance their reach.
The setting-up expenditure of an e-commerce business is extremely low compared to setting up a store. Furthermore, it is much more straightforward to attain a license and permit for an e-commerce marketing domain. On an online site, the functions of billing customers and inventory management are normally automated, which means reduced labour costs. Therefore, e-commerce in modern business is much more viable. E-commerce has the ability to cultivate new and innovative products and services. Services and products such as online courses, on-demand expert services, books, gifts and various other e-solutions are increasing the scope of societal growth and development. In today’s era of technology, any expert can write an e-book which can be sold online. Any teacher can devise tutorials and educate people online by launching online courses. That is precisely why small scale business owners, small city students and villagers need e-education to reduce poverty and improve the living standard of people.
Due to the various points elaborated on above, it would be a good idea for students wishing to explore the domain of e-commerce to attain a specialized education pertaining to it. One of the few institutes offering a niche program related to e-commerce is UPES. The University of Petroluem and Energy Studies offer a 3-year BBA degree with a specialization in E-Commerce Marketing. This course aims to kickstart aspirants’ careers in the realm of e-commerce and hand them a significant advantage in successfully entering the industry.
Frequently asked questions :
What do you mean by e commerce?
E-commerce, 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.
What is e commerce and its benefits?
E-Commerce or Electronic Commerce means buying and selling of goods, products, or services over the internet. These services provided online over the internet network. Transaction of money, funds, and data are also considered as E-commerce.