E-commerce has been working successfully because of the implementation of 4G and 5G technology, the continuous adoption of smartphones, social media applications that increase the applicant’s exposure for the purpose of online shopping, collaborating between small and medium businesses, and increasing consumer wealth for developing the economies, and other factors as well. A lot of Large enterprises are also increasingly looking forward to the online business. According to research conducted in the markets, the global e-commerce market size was expected to grow at a compound annual growth rate of 14.7%in the past seven years.
Since last year COVID-19 has given e-commerce solutions a major boost. According to the latest Digital Commerce 360 report in 2020, consumers have been spending billions of dollars with US clients. In the year 2016, the number of buyers was 1.66 billion compared to 2.14 billion this year.
Even with so much competition, there is a lot of scope for new players to enter the market and change the game. In this blog, we are going to offer some tips regarding e-commerce website development.
The Potential Benefits of E-commerce Solutions
- E-commerce solutions are very easy to reach a wide audience along with providing the necessary exposure to the businesses which will not only help in expanding the existing business but also give a fresh start to the business.
A lot of consumers these days have started product searches online, mostly on mobile phones. If there is no online presence, it will not be possible to learn about the company’s goods and services. But having the power of digital marketing along with search engine optimization (SEO) creates huge opportunities for sales and growth of your business.
- E-commerce solutions can link sellers and buyers no matter where they are in the world. The opportunities to use a company’s products and services become unbounded.
- The cost of constructing and maintaining an online store is much lower if you compared it with the cost of opening a physical place for business.
- An online platform would enable the consumers to shop and companies to take care of the sales round-the-clock.
- It is possible for Businesses to receive and quickly respond to customers’ questions and requests, improving customer service, customer loyalty as well as retention.
- Process automation is another huge benefit. E-commerce platforms that have integrated billing and delivery service APIs will make it possible to prepare the invoice and delivery note in just two clicks.
- Online sales also reduce the money spent on communication and infrastructure even when it is for big established companies.
- The system collects data about the customers, orders, stock, etc., which can thus empower businesses to access statistics and discover the latest trends. This will further help build strategies and adjust their marketing and sales efforts to earn maximum profits.
- When customers no longer have to travel to a physical location to go to the store and search among the goods there, they save a lot of time and money. A smart business can use this as an advantage to convince them to spend that saved money on extra online purchases.
We looked at the benefits that e-commerce. The benefits are plenty but along with this starting an online store would require a lot of research, calculations, planning and a lot of understanding of e-commerce website development.
Let us look at the factors which we need to Consider before Building E-commerce Site
Generally, the e-commerce website development process will include the following activities:
- Discovery phase
- User experience and user interface design
- Web back and front-end development
- Quality assurance
- Ongoing support and development
To understand more about e-commerce solutions, please contact us at coding brains.