What’s e-commerce?

Like most things digital, e-commerce is more complicated than it seems. Some services (like accountancy) and goods (like music) can be traded in digital form. Some (like taxi services) have been changed by digital business models. Others must be traded physically but can be ordered digitally, facilitated by digital platforms, transactions and regulation.

E-commerce includes exports as well as domestic retail (or what we call e-shopping). Global platforms play a major part, but individual businesses can be successful too more 

E-Commerce has been around for quite some time now, but within the last year many business owners have understood truly how essential e-commerce is. During national lock downs, many businesses have been forced to shut down with an unknown answer as to when they can reopen. E-commerce is highly beneficial and effective for all types of businesses owners. E-commerce allows customers to continue to provide their products and services to customers, even if it is in an unconventional way, while restrictions remain.

e Trade for all prescriptions:

  • Businesses

Businesses, clearly, need to respond to the challenges presented by e-commerce.

  • Government

Governments, equally clearly, need to facilitate this innovation and adaptation in order to ‘enable local businesses to participate effectively in the evolving economic landscape and avoid falling further behind competitors from countries where these opportunities are being more thoroughly addressed.’

Survive With E-Commerce

You may have never considered using an E-Commerce platform for your business before. However, there is an increasing importance for companies to offer their products online. The current environment is making it challenging for companies to survive, especially those still relying on brick & mortar. It has never been so critical for small businesses to be available online! There are many benefits associated with providing online shopping, which is only being amplified by COVID-19. Having E-Commerce can help your business survive through these uncertain times!

Lower Variable Expenses through E-Commerce

Using E-Commerce, however, can help lower variable operating costs. Without needing as many staff to operate and minimizing work happening inside the store means that expenses will decrease. Any revenue generated can go towards more important expenses. Operating on an E-Commerce platform also helps lower advertising expenses that you could be spending on TV or radio ads. Instead, you can focus your ad budget on more cost-effective options such as social media and pay-per-click.

Increasing Market Size

When people search for the types of products you sell, it increases the chance of them finding your website. No longer would you be limited to your geographical location, but could be selling your products all over the world! By optimizing your website, you can easily have it ranking high on the Google results page  SEO .

New Shopping Habits

Though it’s possible that restrictions can be lifted within the next few months and businesses can go back to operating as usual, operations will never truly go back to the way they used to – at least for some time. Consumers have developed new shopping habits and discovering the convenience of shopping online is one of them. When customers were left with no choice but to buy their products online, their habits have adapted to making this the new norm. In addition to convenience, many consumers fear the option of in-person shopping. As a business owner, it is vital to consider implementing an e-commerce store for your business to avoid losing customers who may not feel comfortable, or simply just may not want to, return to in-person shopping.

In summary

E-commerce is increasingly important. COVID-19 has accelerated a valuable new resource for understanding what is happening and sets out necessary measures that can help unlock the value of e-commerce and reduce the risk that some will lag behind.