If you are looking to start an e-commerce website this is possibly the best time because it is estimated that e-commerce sale is going to reach $4 trillion in 2020, There are many more benefits of e-commerce. In order to decide whether it is a good idea to start e-commerce or not, I will provide some advantages and disadvantages which will definitely help you to make the right decision.
Advantages and Disadvantages of E-commerce are :
Many customers are too busy to go in a physical shop to buy something because of working hours. E-commerce store helps you to attract those customers who don`t have time to go in a shop. These customers can shop from you’re your website whenever they are free and you don’t need to keep an employee to ensure that all orders are being processed. You just need to automate the ordering process so that the customer can get confirmation email whenever they buy a product.
And unlike physical stores you don’t have a time frame for work so, your online store will be open all the time from which you can attract customers from any part of the world with correct marketing strategies.
The next advantage is that a new online business can promote its products worldwide easily. By using various tools you can discover your audience whether they are in U.S.A, U.K, or neighboring countries.
Selling the world wild is a major advantage it helps in building your name a lot faster and also increases your marketplace drastically, and profit will be seen way before your local competitors.
AS compared to retail shop you will need fewer employees and hiring them is affordable and you can also outsource work to Virtual assistants in places where cost of living is much lower, You don’t have to hire employees in the beginning you can run an e-commerce business on your own, Hiring is essential when your business starts to grow or when you have enough capital to hire employees.
One of the advantages of e-commerce is that it is easy to scale the business. If you are drop shipping, you can easily increase the budget of your ad campaign without worrying much about keeping up with the demand.
In retail stores, due to limited space, it is not possible to increase products or cashiers. If you want to scale your business you will have to look for a bigger space or wait for the contract to end.
Customers can`t try the products that they want to buy, this has been the issue which had stopped e-commerce from achieving greater heights but this will not be for a longer period with augmented reality many online stores, especially of clothing, are providing this feature to their customers from which they can try the products on. Many companies are now offering augmented reality services to businesses which helps the business to have a more interactive experience with the customers.
One of the biggest e-commerce disadvantage according to customers is shipping times. Customers when purchase from inline receives the order within a week or more this is not the case in retail stores as the customer can take the product with them after purchasing it. Only solution for this is to be transparent with your customer. Let them know when they can expect the order at the time they place it.
No doubt e-commerce is growing but physical retail still holds the majority of market share. Though having an online business is very essential nowadays, but still most of the money is made by physical stores. That’s why Amazon is also creating physical stores. But the money e-commerce is making is not a small one. And this number keeps growing.
Designing and developing an online pharmacy system is not an easy task, it is important to ensure that your system is user-friendly and the customer can easily purchase medication using your online pharmacy system.
If you`re looking to build an online pharmacy store are wanting to improve the existing one,
Nowadays there are many online pharmacies available in the market and most of them are quite difficult to use and very much hard to understand, So the most important thing is to have an easy to use design for your online pharmacy.
Customer Journey right from when the customer lands on your homepage to the final stage of checkout should be very simple with no complexity because it has been found that customers like to purchase their medication immediately without any hassle.
A medical questionnaire that is required while picking the medication is a very important element. So it should be made in such a way that customers should not find it difficult while purchasing a product, it should function efficiently. Otherwise, it can result in a loss in conversation.
There should be enough space around elements, It should not look untidy.
Sometimes the nature of medication can overwhelm the customer, and thus the customer may want to search for a condition, or product.
Having a well-constructed and easy to use search feature helps the customer to find medication required in no time. If your search features are not efficient than the customer may not find the right or required medication which eventually leads to a loss in conversion.
It is very important to show legal information in the footer of the website, which includes address, contact number, trading names, and other important information related to pharmacy.
You will be breaking the law if you will try to hide this type of information from the public, and you will also lose potential customers in this case.
This information should be visible at your website in order to ensure that the customers will not see you as some kind of fraud.
The only feature remaining that you should add in our online pharmacy e-commerce store is FAQ (Frequently Asked Questions).
It should provide all the questions that are commonly asked by the customers.
It is essential for a logistic and supply management company to have a powerful and functional management tool that can help in operations, planning, procurement and distribution of products, data information and finances.
The sole purpose of using such a tool is to maximize customer and many supply chain management companies are adopting this software to fulfill that sole purpose.
So if your organization is looking to procure such a solution or build one,
In a logistic and supply chain management company, employees require real-time access to information on supply chain and logistics in order to avoid problems, missing goods, bottlenecks, etc. This feature enables the organization to respond to variations in supply chain/logistics as and when they arise. This particular feature is very useful for organizations of all sizes.
For any supply chain/logistics visibility from start to the end of is very crucial and should be the part of every solution.
In order to stay ahead of the competition and level up the game is it important for the supply chain and logistic organization to use forecasting tools. They help in predicting customer demand and planning of resources accordingly. The use of such tools helps the company to terminate the purchasing of too much raw material and reduce storage requirements which automatically reduces the cost.
This tool ensures that materials and goods are transported at the lowest costs possible. Transportation tools offer needed resources to manage fuel costs and also the state and national laws and regulations. It is important that these features are included in the supply chain and logistics management to eliminate supply chain issues and reduce overall costs.
There is a misconception among the supply chain and logistics management companies that there are some uncertainties in order management and billing options. The supply chain and logistics management software must have the ability to create orders and charge customers from one location within the solution. The work of an operational manager reduces drastically if the software helps in the creation of orders as well as charging customers from one location. The software should be highly configurable to meet the needs of orders and customers handle by supply chain/logistics organizations.
Using a highly functional app instead of an old-school logistics/supply chain system makes a huge difference. Applications offer real-time alerts that provides all the information on shipping activities. The app can deliver real-time updates to all the stakeholders involved so that they can take appropriate actions and measures to avoid major losses. When dealing with customers whose demands change constantly it is important that all operators in the supply chain operation should be in contact with each other.
Taking the above factors into consideration will help in choosing the best supply chain / logistics management software.
It is very important to choose a well-known packing and moving agency whether it is for a commercial moving job, a residential, large or small one.
For Example, let`s say you need services of packers and movers in London, you would never choose an agency without knowing its efficiency and validity
But how will you know that a particular packer and mover company is the best choice for your needs?
In order to have services effective for customers, the prices should not be way too much. A good packers and movers company is one who provides their services at pocket-friendly prices to the customers.
A good packers and movers company an be considered by looking at the kind of vehicles they use for moving purposes. The vehicle should be driven by a skilled and experienced driver and the condition of vehicles should be good.
For providing a better moving experience to the customer which should be hassle-free, the company should possess adequate moving experience so that customers' queries can also be solved.
Company should offer assistance like a consultation to packing, loading, unloading, warehousing, etc. for all moving needs. As efficient moving companies offer all this assistance. It becomes very convenient for the customer because he will not have to call another agency for assistance.
Packing and moving company should possess trained workers having all skills required for packing, loading, unloading and assembling the products very carefully. And should have a careful watch to avoid any danger while performing the work.
AMoving company should have a moving license according to operating areas. And also to mitigate undue situation moving company should possess essential license covers.
Packers and movers company should provide 24\7 customer support to the customers, which helps to resolve troubles that they face. There should be a specific department for this in your moving company.
AMoving company should have world-class warehousing services that customers can use to store their items for the required period of time.
These were some of the must-have qualities for a moving agency. Whenever you hire a packing and moving company do not forget to evaluate them on the basis of these qualities.
When done correctly starting an eCommerce business is very rewarding. Although retail stores are steady, no one can deny the fact that people are loving to purchase online. As e-commerce is growing at a rate of more than 200%, the chances of success are increasing every year. If you want to stand out and in front, you should be willing to put in the hard work, connect with people, know the right marketing strategy.
Here are some eCommerce trends 2020 that you should pay attention to.
According to a report, voice shopping was calculated at $2 billion in 2018, and it is expected to grow by up to $40 billion by 2022.
Humans are depending more on machines because it is easy to talk than type. For this you will have to create conversational content which is written in such a way that voice machines can understand it, using those regular keywords tactics will not help in this cause.
As we are moving forward voice searches are going to increase at a faster rate.
A customer never forgets whenever a business provides an extraordinary experience, for example by providing a different experience, or technology.
The only thing that can improve the customers' experience over the retail store is AR because AR customers can easily understand how the product will work in their lives.
Brands like Pepsi and loreal have tried using augmented reality in their strategy and customers loved it and they want more of it, and for that, the customers are ready to pay more than usual so that they can try the product with AR.
Customers that shop form physical stores does it for many reasons like, they can test the product before buying it, this provides the customer with a sense of satisfaction as the store owner assures that they can return the product if they don’t like it, this is one of the biggest reason some customers prefer buying from physical stores.
The return policy is available in e-commerce, but they can be more stressful plus many brands hide it in TOCs.
The idea of allowing the customer to try the product before buying it leaves the customers with peace of mind.
Now the customers can buy a product and choose to pay later, so when they receive the product they can pay for it or return it if they are not satisfied with the product. Before trying this options business should take proper information about all the aspects.
Regardless of which part of the world you live a great a/b testing trick is always going to work for your store the most important rule is to never have an assumption.
Never assume that the customer will like a particular page, always test, test and test because it is not necessary that if something worked for others will also going to work for you, test everything to find out what works best for your e-commerce store.
Mobile storefront application is becoming very popular. This is because many eCommerce platforms are providing it as a core feature so that the app development barrier can be lowered or maybe because they know that shoppers usually want dedicated storefront apps on their devices.
Whatever may be the reason, one thing is sure. Big and small businesses are using storefront apps to make sales.
Businesses based on fleet often counter many difficulties like multi-geographical barriers, unknown vehicle location, complex operations, scrambled information, etc. companies like such faces many challenges, so for achieving cost efficiency and maximum productivity, fleet management system should be adopted by these organizations.
Better Hold on Operation:
If the fleet managers are not able to track drivers' location then it puts your entire operations in jeopardy. Fleet management software will allow tracking the vehicles in real-time, the manager will be able to track the vehicles place no matter where the vehicle is positioned.
Manages Fuel Expense:
For a fleet-based business fuel is no doubt the biggest expenditure, Fleet management software helps in reducing your fuel cost by providing optimized routes that will monitor harsh driving behaviors that can lead to fuel wastage, all the possible ways by which fuel consumption is reduced can be identified by the fleet manager.
Enhanced Safety Measures:
For running a successful business, protecting the company`s fleet and assets is a crucial aspect. You can easily track the location of your fleet and assets with the tracking feature.
The technology used is an advanced level that allows you to track every single movement of your fleet.
Prevents Aggressive Driving Behavior:
Establishing safety rules and ensuring that they are followed is a very challenging task. To control harsh driving fleet management software provides an automatic solution that will monitor activities on a real-time basis. Whenever the vehicle exhibits aggressive driving both the driver and the fleet manager get alert. This helps the fleet manager to ensure that only good drivers are on the road.
More Profits and Fewer Costs:
Cost reduction is a complicated process this burden can be removed by using fleet management software, fleet managers can find ways to reduce costs arising due to accidents, operational costs, fleet maintenance costs and many more.
Reduction in Vehicle Downtime:
For a fleet-based company, vehicles are the most important point of issue, so it is very crucial to get maximum work from your vehicle. With the help of on-board diagnostics insights can be provided about vehicle engine health and its performance. With the help of such data, you can plan to maximize vehicle utilization and reduce vehicle downtime.
Helps in Eliminating Human Errors:
Human errors can be eliminated by automating the operations and going paperless, it also helps in fastening the decision-making process, by switching to fleet management software you can increase your productivity. Operating an enterprise becomes very simple with fleet management software.
Business-to-Business-to-Customer is no doubt model of the future business, as nowadays most of the business straddle between retail and b2b, it has become very important to have a solution that will allow both of them to be present in one web store.
The sooner businesses adopt the fact that now we are living in the age of smartphones the sooner they can get benefit from it.
Though increasing sales and conversion is important, if you don’t have a mobile responsive site then you will not get the best out of it as mobile optimization can be a complete turnover for your business.
Providing an exceptional customer experience is one of the best ways to enable the customer to come back to your store whether to buy for pleasure or business.
Upselling and Cross-selling:
If you sell products that are often grouped with other products than both the business clients and customers will appreciate if they will be guided to the products that they may want or need.
Your store should be able to suggest related products as well as offer upgrades frequently.
Localization Technologies and Expertise:
Translating your b2b2c website and documentations, localizing content and marketing
These are the hurdles that business will face in the long run, luckily these all can be made easy if you have the right software.
For providing multiple language option your software should have all the tools necessary for the right implementation.
Fully Integrated and Flexible Platform:
A flexible platform is essential for both b2b and b2c customers, b2b customers will focus more on needs such as BOM\ Kitting, additional payments, and personalized catalogs, whereas b2c customers might focus on a smooth browsing, fast delivery, easy checkout and on an attractive website.
Whether you sell directly to customers or to other businesses having online e-commerce helps you in many ways, but Why is it so important to have an online store for B2B?
B2B buyers are some of the most demanding but at the same time very profitable ones, before doing any purchase they perform a detailed research about the online store and the product they want to buy, Most of the B2B buyers search for the product first on google before directly heading to the website, as they are buying for business there is no limitations or restrictions on spending.
B2B buyers always come prepared and they know what they are buying and how will it benefit their business, the merchant should be ready to answer any question that they throw at them, having good quality image and video of the product helps the buyers in the decision-making process.
As a seller, if you put the right efforts than you may get some customers who will buy from you for longer period.
Benefits of having an eCommerce store for B2B seller
1. The typical b2b buyer's journey which is research, evaluation, and selection is done very easily online, but sellers think that this process cannot be done online which is a big misconception which should be cleared as soon as possible.
2. Another wrong belief is that b2b practices like building relationship with client, custom ordering and price display only to clients is not possible in an online store which is again a big misconception, all of this is possible online shopping, By using registration and logins, online chat, customer groups, providing product option feature and many more.
3. Another wrong assumption is that the B2B seller cannot sell B2C on the same website, which is false because the same business can sell B2B and B2C seamlessly at one website. In fact, both B2B and B2C shopping experience should be as close as possible.
Some Other Benefits are:
More Business Opportunities
An online store can help you solidify your presence online and let customers and retailers find you through search engines.
Lowering The Cost:
Yes, it is possible to lower your cost using online store, new technology allows to take all your activities online like client information, order entry and many more, by automatic this processes company can cut all the unnecessary cost thus increasing the revenue of the firm.
Customer will come back to your website if they have a great online experience and what will you trust more promotion of a wholesaler or review of a customer, An exceptional B2B store can help you convert your customers into evangelists.
In overall global online trade, cross-border e-commerce accounts for more than 20% of it,
The e-commerce sales are going to skyrocket in the near future especially in India because of 92% mobile penetration and more than 22% smartphone users,
With a high-speed and secure internet connection, a good product is the only one thing that customer wants because of cross border e-commerce export and import of goods has become easier than ever before
The reason why cross border e-commerce will be a huge success in future
Customers are very smart they compare products on multiple websites before actually placing the order and access to e-commerce all over the world makes it easier for them to select the best product. As everyone wants complete satisfaction from purchase, the cross border is becoming an emerging phenomenon that will grow at a fast pace.
Variety In Product Range
A domestic e-commerce store will only provide limited products which customers may have already purchased or are not interested in buying, Cross border e-commerce allows customers to select from a wide range of products available, customer can choose from the trending products very easily.
Increase in Globalization
As we all know that the world is shopping online and because of that every organization is aiming to take their business on an international scale as there is a large amount of profit in it.
If you are living in London and you want a Chinese pot you can purchase it easily and it will be delivered to you in few days, the internet has made it very easy to interact with anyone in the world. The businesses are always trying to offer best deals in order to compete with the rivals and customer also wants to spend their money in such a way that they get maximum satisfaction.
No Language Barrier
The main reason people purchase from the local area is that they can get all their queries and questions answered immediately, this builds trust among the customers for that business. Ecommerce which deals globally mainly provides English as their standard language but google provides translation option which helps the customer to read the product details and other important information in desired language.
Cost of production, shipping cost, Labour wages are all different for every e-commerce website and when the comparison is done by the customer they can get cheap products.
Ecommerce startups may find themselves in an interesting position. As on one hand, they can easily implement any strategies since they don’t have any legacy issues to deal with, on the other hand, they also have to continuously improve their infrastructure with new technologies.
Here are some ways that will definitely help you to stand out
Marketing Automation: An e-commerce startup cannot just expect that the customer will come and buy their products because they are providing a good catalog of products,
A strong marketing effort is required to make e-commerce successful. With the help of marketing one can convert customers, upsell and generate repeat sales.
Marketing automation can be of huge help as following up on abandoned carts, sending newsletters to such a huge customer base is a very exhausting process, automation services can send customized offers through a push notification on mobile.
Personalize Experience: Some examples of personalized experience are providing customers with options like automatic change in currency and languages according to the customer's location, and sending notifications about the products customer have browsed recently.
New inventions that are being used for the development of machine learning are ushering hyper-personalized experience this can be seen in Amazon where customers are shown specific items related to their recently viewed products.
Predicting purchases based on trend and season will become possible due to machine learning.
Advance Analytics: There was a time when analytics meant just to track websites daily visit and duration of such visits, but now in eCommerce, advanced analytics is required where one can track traffic sources and collect information about every click, and then this information can be analyzed to understand customers behavior and gather useful insights,
Analytics can also be used to track team performance that is to track how fast order gets completed.
Fraud Protection: Fraud protection is the most importantaspect as customers are always worried about fraud activities which can also result in loss of customers so in order to avoid that 100% fraud protection is advisable.
Customer Support: Poor customer service is one of the biggest hurdles in online business,Customer support usually means messaging systems, or email which allows interaction between customer and agents, but if the team is encountering with a large number of customers than it becomes a difficulty to respond immediately one of the ways is to enable a live chat to pop up just when a customer abandons a cart. This help to address any concerns customer may have in order to close the sale.
If you are looking to build an e-commerce store, checkout Arenasoftwares
as they provide the best e-commerce solutions.
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