WHAT IS ECOMMERCE?
A GENERAL DEFINITION
Ecommerce is the buying and selling of products facilitated electronically by the Internet. It’s quite different from traditional forms of commerce you might be used to (i.e. shopping at the mall and buying clothes). We’ll put ecommerce under the spotlight of 5 different perspectives for you to gain an in-depth understanding of why we think it'll eventually dominate global retail - blowing physical retail out of the water. We hope by clearly defining ecommerce and providing relevant examples, you’ll gain interest and continue to do your own research before making the decision to start your own website. Our goal is to provide the facts and since we love the process of building websites - help others kickstart their journey on the right foot. Without further ado, here are the different perspectives for you to consider.
BUYING AND SELLING PRODUCTS ONLINE
When you purchase a product online and have it delivered to your home - you’re partaking in eCommerce. When you purchase groceries from the grocery website, you’re partaking in traditional commerce, as you’re not using the Internet. That’s the difference. It’s the same the other way around as well. If you sell a game console to a friend in real life, you’re not doing eCommerce. However, when you list that game console onto an online website accessible by the global audience - you’re an eCommerce website owner, which we believe is one of the most exciting and passionate business models in the world.
GLOBAL CUSTOMER BASE AND SCALABILITY
An ECOM website isn’t bounded by the limits of a small local community. Almost anyone with Internet access and a mobile device can become a customer. That turns your potential customer base into billions of people, rather than just a couple hundred or thousand. The crazy thing is that usually when you think you’ve exhausted the number of people who can buy your product, another person buys your product. This is an absolutely astronomical difference and is integral to the definition of eCommerce - one of the best opportunities right now. Of course, it’s necessary to adapt to changing ECOM dynamics which is why getting a mentor and joining some sort of community is important for the purposes of staying on top of the competition.
CONVENIENCE FOR BUYER AND SELLER
When an innovation or invention comes along that creates win-win situations and makes our life more convenient, it’s bound to get at least some attention. From a buyer standpoint, ecommerce allows them to shop from home, receive attentive customer service, and facilitate comparisons. From a seller standpoint, ecommerce greatly lowers costs, among many other efficiencies outlined in our other blogs. You can add additional convenience and save many headaches by seeking proper guidance and mentorship on your ECOM journey, which we offer at our website.
SUPPORT FOR ALL LEVELS OF BUSINESS
Ecommerce is an absolute beast - it basically supports all levels of business. Business-to-business, business-to-consumer, consumer-to-consumer, consumer-to-business, business-to-administration, and administration-to-business types are all facilitated by ECOM. This is important, as there can’t be stones left unturned for a revolutionary product to truly change global economic dynamics. What this means is that whatever part of the business spectrum you’re on, ECOM can make your life easier and there’s opportunities to embrace.
DIFFERENT FORMS OF ECOMMERCE
There are many different forms of ecommerce: direct shipping, wholesaling, warehousing, private labelling, manufacturing, subscriptions, and so much more. Which route you choose to focus on depends on many factors. For the websites we build for clients, we focus on direct shipping - a superb way for anyone to start their first ECOM business. The possibilities are virtually endless and there’s opportunities to succeed for anyone willing to take the time to really study the industry to its depths.
CONSIDER OWNING AN ECOM WEBSITE
Ever wanted to sell products you’re actually passionate about and create a sustainable business out of it, but didn’t have the necessary capital to do so? Ecommerce is a solution you can definitely consider because it’s one of the easiest ways to become an entrepreneur in today’s day and age. Our recommendation is for everyone making their first steps, to seek guidance and mentorship on their journey. Saving time as an entrepreneur is one of the best decisions you can make - we offer pre-built ECOM websites among many other features as a package: HERE. We humbly invite you to have a look and don’t hesitate to ask questions before making the decision to join our ECOM family.