By the simplest explanation, ecommerce is electronic shopping through the internet. Also referred to as internet commerce. Any transaction or service done online, like money and data, can be named as ecommerce. It is an industry that has the fastest growth in the global economy. With an estimate of 23% increase yearly. One of the main reasons consumers have turned to online shopping is because of its efficiency.
Online businesses transact through four different ways:
Business to Business (B2B)
It involves transactions between companies without a consumer. It is a booming industry that is directed by SaaS and other tech companies. By the end of this year, ecommerce sale predictions in B2B is estimated to be $6.6 trillion.
Business to Customer (B2C)
Self-explanatory indeed. The company sells goods and products to consumers. Same as when you purchase a product from Amazon.
Customer to Customer (C2C)
When a consumer decides to sell his products to another customer, without involving any company, that is C2C. It is a typical trade-in OLX.
Customer to Business (C2B)
Now, you, as a consumer, sell your product or service directly to a company.
The leading e-commerce website stores globally are; Amazon, Shopify, eBay, Olx, and many more.
Amazon is said to be growing way above the market rates. The last year 2019, in the U.S alone, it was expected to reach 37.7% of ecommerce sales.
Let us Look at How Ecommerce Will Help You in 2020
Thanks to ecommerce SEO, today, you can have more visitors and better visibility on your online store by having them work on your site.
Day by day, automation keeps growing from an element of marketing, warehousing, and stretches to many other departments. Now industries have discovered that utilising robots saves time and the company’s resources. As a result, it increases efficiency. Employees can do more tasks, as the robots take care of other fulfillment processes.
If you are used to showing the video to your customers without giving much attention, then you have to hone your skills in videography. Why do we say this?
1. Ecommerce future requires sharp video, with high clarity, as it plays a more significant role in online shopping.
2. According to research, 64% of consumers purchase after watching videos of products and services, either from social media or websites.
3. When you look at Instagram, which has become the epitome of advertisement, the video with excellent clarity gets many likes, thus selling more.
If you are facing difficulty in this area, ecommerce SEO experts are there to offer such services. Prioritising video content is crucial.
We can’t emphasise enough how valuable customer experience is, in any business sector. Without excellent customer service, it is easy to fail in your business. Did you know that clients check reviews from your previous customers before they decide to buy from your company? Things that contribute to poor scores in customer service in e-commerce:
- Slow, or no response to a customer inquiry
- Incompetent sales staff
- Ignoring customer’s feedback
- Selling poor quality products
- Delays in shipping
- Longer process during checkout
Therefore, you need to scale up in treating your clients well. Listen to their views in regards to your product. Optimise the online sales process to meet your customer’s needs. Once done, your customer experience will improve, and, in essence, your store’s sales increase.
Adopt Fast to Ecommerce Trends
You are likely to fail in the ecommerce field if you are adamant about adopting the trends of online marketing. Yes, you have a good store. How then do you draw visitors to come in and buy? That’s where your prowess of marketing skills thrives.
One, be knowledgeable about the current trends. The majority are now using mobile devices to transact online. Have you optimised this device to your website? Are you lagging? It is not complicated to add this option. However, ecommerce SEO can work professionally in this department.
Advantages of Shopping Online in 2020
Compared to last year, there was an approximate increase of 18% e-commerce global sale, that topped to USD 3.5 trillion.
- Nothing beats the convenience of online purchases. You can get sufficient information as you locate the product faster, as you do your shop 24/7.
- The possibility of a C2B meeting without intermediaries makes a smooth transaction. And adds value to the whole process.
- It is an incredible time-saver. You are relieved from the tiresome process of traveling from one store to the other, cuts cost, and you get delivery at your doorstep.
- Try to compare the prices in-store and online, and you will discover that it is much cheaper to buy online. You save more. Even for the stores operating in e-commerce, have lesser costs, which gives a higher profit margin.
- As analysts estimate mobile ecommerce sales to be 53.9% by 2021, it shows how much consumers are embracing the convenience of shopping through a cell phone device, anywhere, anytime without limitations.
In conclusion, we expect a lot of exciting innovations and changes in the e-commerce industry in 2020. And the future of online shopping looks promising. Despite retail stores shutting down, their rebirth has gone online.