eCommerce – Definition & Tips on Building an Online Store

If you are looking for a definition of eCommerce, an explanation of how it works and what it can do for you, look no further. This article aims to give you an idea of what the subject entails and how it can be used to your company’s advantage.

E Commerce (Electronic Commerce) is the process of selling any goods or services over the internet. The advantages to using the internet as a platform to sell your products are numerous but the pitfalls are just as many. To avoid the traps and make the most of this selling medium, there are a few things to consider.

The E Commerce Website

The E Commerce website is the location where your products can be found. A good way to start taking advantage of the internet as a selling tool is to use an established website to advertise your products such as eBay or Amazon. While this method guarantees your products some exposure, due to the consistent traffic on these sites, whichever company you choose will levy a charge for listing with them and a commission once sold. This method is also limited in terms of forging your company’s online brand. Establishing your own e-commerce website gives you complete control over how your products are listed and how the site looks. You can also use your own website to publicise contact details and allow visitors to make enquiries.

Getting Visitors to Your E Commerce Website

The lure of established auction or sales websites is their consistent traffic. When creating an e commerce website for your own company you will need to ensure people get to see it. This is an ongoing process which is known as SEO (Search Engine Optimisation) which ensures that search engines take away the correct information from your site and rank it as highly as possible. In addition, SEO includes promotion of the site and should be an ongoing process.

E Commerce Software Solutions

This is the system which runs on your website and creates the content for visitors to see. There are numerous e commerce software solutions out there. They can be categorised as follows:

Open Source E Commerce Solution – These solutions are free to download and try but keep in mind that they were developed by a community and as such they cannot provide support for your implementation.

Commercial E Commerce Solution – These solutions are similar to open source packages except they are produced by a company and require a license to be purchased. The advantage to this solution is the company that produced the software can be relied upon to provide support.

Bespoke E Commerce Solution – These solutions are produced specifically for one website by a web design company. This should give you a unique looking online shop and you will be able to agree with the design company the exact features you are after. While this may require the highest initial outlay, it will go a long way towards making a complete online presence for your business.

E Commerce Hosting

This is the service used to host your online shop. There are many different e commerce hosting service providers who supply suitable packages but essentially you will need, web space, server side scripting (ASP or PHP for example), a database (to store your product information) and an SSL certificate. An SSL certificate allows your visitors to encrypt data they send to your site. This is essential to operate a shop securely wherever you require visitors to enter sensitive information such as their credit card details.

Hosting features extend way beyond those mentioned above but they are the essential requirements for setting up an E Commerce online shop.

Why Choose the eCommerce World?

I was browsing through the net (like I usually do) & I can’t help but be fascinated by all the products and services I see flashing itself before me; from laptops to prom dresses, from extravagant travel promos to as minute as an eyelash curler. I mean you can get virtually everything you need on the Internet, literally.

Now I believe that it’s truly possible to live off without leaving the confines of the four walls of your room. eCommerce is what defines today and the future. With the ever-growing world of eCommerce, all you need to do bid and wait.

Looking at it through the consumer’s point of view, with eCommerce, purchasing is definitely made easier. Say goodbye to the hassle of going out and hopping from one store to another just for one thing. And did you know that you could actually get exactly the same thing cheaper ordering it through the Internet than when you buy it at a store? It’s because providers spend less in advertising & paying for the stall space therefore you only end up paying for the raw product and the shipment fees.

From the providers perspective, why choose eCommerce over the traditional proven way of Business? As mentioned, it’s cheaper to maintain especially on the advertisement side of things. Because almost everything you need to do to get your product out there is already available on the web. At the same time, it’s easier to customize and control. With business transacted through the web, you have total control over how your product is packaged and presented to the consumers.

Everything is definitely made easier, from management to sales. Monitoring of monthly sales, Product Inventory, & all those hard to manage paper works are easily created & monitored over the Computer. eCommerce is a great relief for starting out businesses who still can’t afford to lease space & pay for advertisement, because you can start your business even at the comfort of your home.

But products aren’t the only item which you can transact over the internet. During the past years, there has also been a growing trend of providing services over the web. There has been a surprising upsurge in the number of people vying to work over the internet. The rising number of people working through the Internet can be attributed to the pass events that took place all over the world- the Recession.

You can actually find Websites that offer jobs to freelancers. They give freelancers the chance to earn an extra living, some even making this trend a full-time job. Because people were getting laid off, the need to find work fast is what made eCommerce a necessity.

Large companies can actually save more when they hire freelancers over the Internet, since the jobs are for a per project basis. And since people aren’t becoming regulars, CEO’s don’t need to pay for benefits and the like, that’s why eCommerce that offers all sorts of services are making a wave.

It’s no question that eCommerce is a continuously growing industry.

Multi Vendor Ecommerce Platforms: Their Why and How

If you think that ecommerce has been primarily responsible for changing the face of retail, then let us tell you that multi vendor platforms have taken ecommerce to the next level. Today, we will explain the details of their fundamentals and discover reasons why ecommerce entrepreneurs are investing in the same. These e-marketplaces are preferred against the normal online stores and there definitely are various reasons for the same.

Multi Vendor Ecommerce Platforms: Exploring their pros

Investing in the services of a Multi Vendor Ecommerce Platform Development Company will only go on to benefit you in more than one ways. We will learn how it does that. Make sure you’re selecting the developer with proven credentials. Here’s more about these models.

Now, to start off with, let us tell you that some of the biggest online stores have invested in the multi vendor systems. Flipkart, Jabong, Snapdeal, Amazon, Alibaba and Etsy have all experimented with this particular model and emerged successfully (need we even say that?).

However, it is not really prudent to try e-marketplace out without really comprehending its fundamentals (i.e. what it exactly is). A multi vendor platform enables every vendor to have a separate shopping area inside the model itself. The one who owns this entire model has to do nothing except processing the order, tracking payment and charging commission to these vendors. The sellers, on the other hand, are responsible for maintaining inventories, product descriptions, logistics and other updates. As a vendor, one does not really have fret hearing all this – simply because the platform owner will give them a system to manage it as per their convenience and comfort.

Now, entrepreneurs are quite noticeably interested in this particular model because of the following benefits offered by the same. As the platform owner can easily shift several responsibilities (like the logistics, inventory management etc as has been mentioned above), it makes the job a whole lot easier for you. Carrying out all these responsibilities all by yourself would actually require the efforts of a large team. So, a multi-vendor platform owner definitely scores over a regular ecommerce store owner as far as this particular aspect is concerned.

The liberty to delegate work and take advantage of reduced costs

Since you are not required to hire a large team to get the aforementioned jobs done, you can expect your expenses to be under control as well. In fact, ecommerce startups are known to have suffered the most owing to their human resources and warehousing related costs.

Offering different platforms to multiple famous vendors would only ensure huge sales and traffic. It just goes on to make your job easier. When you’re going all out with your promotions – telling your prospects that you’re selling products from well established brands like Nike, Nestle, Vero Moda or for that matter any other reputable name, would only mean that you can attract more people than what would have been the case if you had set up a regular online store.