E-commerce
Online stores function exactly similar to a physical store – customers look at products, add products to their cart, and then check them out, paying by card, e-wallet, or cash on delivery. E-commerce has revolutionized the way businesses operate. It offers several benefits to buyers and sellers.
Sellers have far fewer expenses; they don’t need to maintain large stores that incur rents, utility bills, and other overheads. They can run their businesses from their homes, too. They need only minimal or no staff, and a small warehouse to start with. Both initial capital expenditure and operational expenditure are lower in e-commerce. By going online, it helps them reach a much wider audience, as products can be shipped anywhere. Overall, entrepreneurs can get much better returns on their investments. Businesses with physical locations can start e-commerce stores to reach more customers and increase revenues.
Buyers benefit from being able to shop from the convenience of their homes and avoid commuting. They can buy whenever they want to – even at night. They don’t have to wait in queues and have numerous payment options.
Ecommerce facilitates business continuity as it can operate even in times of lockdowns, strikes, or other unfavorable circumstances.
Getting a basic e-commerce site up and running is fast, easy, and economical, and it can be scaled easily too – a huge advantage over brick-and-mortar stores.