Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services via the internet, and the transfer of money and data to execute these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also be described as any kind of commercial transaction that is facilitated through the internet.
Why should you sell your products online?
People nowadays spend most of their time on the internet for work, study, marketing, business, learning, and entertainment. Since all these commercial and social activities are connected to the internet, great numbers of people all over the world flock to these platforms to engage in their desired online activities.
The evolution of eCommerce has allowed products to be easily discovered and purchased through online retailers and marketplaces, especially via mobile. Independent freelancers, small businesses, and large corporations have all benefited from eCommerce, which enables them to sell their goods and services at a scale that was not possible with traditional offline retail.
Research shows mobile eCommerce sales account for 34.5% of total eCommerce sales in 2017, and that number is growing. By 2021, mobile eCommerce sales are expected to account for 54% of total e-commerce sales (Mali, 2020).
With this increasing demand, every businessperson is looking to have an online store where they can sell a range of products and services. One can get a lot of benefits by opting for an eCommerce business as it can deliver a comprehensive range of benefits to both retailers and wholesalers.
What do you need to build an online store/ eCommerce website?
1) A domain name
The fundamental requirement for any eCommerce store is a domain. You need a domain name that will perfectly identify with your brand. Don’t overthink the process. Domain registration sites like GoDaddy allow you to purchase a domain name for under $10.00.
2) A trustworthy web developer
This is a crucial component when deciding to launch your own eCommerce store. If you want to launch your site in a relatively short time span and in a professional manner, make sure to do your vetting when it comes to hiring a professional web developer.
3) Choosing a web hosting platform
An eCommerce web hosting platform can be understood as a system wherein the host company provides an organization/retailer the required online space and tools so that it can run its retail store online. To save time and money, it is essential to select a popular eCommerce platform.
4) A secure payment gateway
A payment gateway is important in eCommerce as it helps transfer the information regarding a transaction between the payment portal and the front-end processor or a trusted bank to ensure the legitimate transaction is securely transmitted to the processor.
5) A powerful shopping cart feature
A shopping cart isn’t just a place for customers to store items pending for checkout — it’s another important touchpoint to deliver additional conversion opportunities. Cross-selling at checkouts helps target customers more precisely with products they are likely to be interested in based on the items already in their cart — which can, in turn, increase the purchase total.
6) Order packaging/ shipping storage options
When it comes to shipping and fulfillment for e-commerce, fast service and packaging for product safety is critical to the success of the business. The customer's experience is crucial to the success of your business and the final packaging and delivery play a pivotal role in delivering a seamless experience at the final checkpoint. It is crucial to figure out how to store and ship your inventory. You will have to determine storage to make arrangements with your vendors.
Things to consider in 2020
Building an eCommerce business takes more than choosing a brand name, writing product listings, and starting to sell products online. Even the best business ideas can flop if you aren’t driving enough traffic to your store. There is no right or wrong way to choose an eCommerce solution. You have to consider what you need the platform to do for your business and base it on those needs
Going forward, here’re two options to consider.
1) Using a professional web design company to execute ideas
While it’s simple enough nowadays for anyone to build a website, if you’re looking to build an eCommerce website for your business, it’s essential to have a professional website design. To ensure reliability and a good first impression, a professionally designed website ensures a good first impression for visitors whilst establishing credibility. However, these companies can be rather pricey and time-consuming when it comes to the development phase of your project and will be at risk of other technical shortcomings such as server downtimes and ongoing maintenance.
2) Utilizing a stay-at-home web developer (Freelancer)
There are many benefits to working with freelance web designers to build or maintain eCommerce websites. Because a freelancer generally works on their own, they are more flexible than a traditional web design company in a number of ways. Most freelance web designers have less overhead costs because they work from their homes and can make decisions faster than a large design firm while also being extremely versatile in their skills. However, it can be difficult to identify the right freelancer who understands your niche idea, product or industry. There is also no assurance of the quality of work as freelancing is just a way for people to work that allows more freedom, and being over-dependent on a single freelancer as a web developer can hinder the progress of your project.
3) Using an existing, online established eCommerce software /platform
eCommerce software allows you to quickly start your online business, on your own, whilst keeping your online store open, 24 hours a day, 7 days a week. Additionally, the unique, built-in user-friendly designs make it easier to sell to anyone, anywhere while saving time, money and resources as paying monthly for an affordable eCommerce platform that takes care of your online store reduces expenses and maximizes profits.
Why use ShopOnCloud?
ShopOnCloud is a contemporary eBusiness solution, allowing for quick creation of an online store on a secure, reliable and amazingly affordable online ordering platform guaranteed to reach out to a vast audience. Shop On Cloud enables businesses to get a great online store within a few minutes and start taking orders right away.
ShopOnCloud not only drives their revenue with successful penetration of new markets online but also makes internal operations and management much smoother. The online platform offers a highly customizable backend for all its users' needs while ensuring all basic requirements are provided to users to build their very own online store with ease.
Developed by eBEYONDS Pvt Ltd, a leading IT & eBusiness Solutions Company, backed with over a decade of experience in the digital ecosystem, catering to a prestigious local & international clientele such as World Bank, UNFPA, TravelClick, Dilmah and the Sri Lankan Export Development Board, Shop On Cloud is well poised to revolutionize the eCommerce industry with a seamless and simplistic solution to enable aspiring online business owners to reach their goals and start selling online.