Mr. X is running a chain of garment stores in City A. He is able to generate a fixed monthly sales transaction from this, with minor up or down trend few times varied according to seasons. Mr. X is a is not happy with this trend of stability in his business. The business seems to have saturated, though he tried various campaigns and provides various add-on services to customers, he still fails to change the business volume drastically. What could be solution for him? Are you running a business unit in traditional from the shop pattern and are worried about the slowdown of the sales like Mr. X.
One obvious solution for Mr. X is to reach to more and more customer with his garments and offers. But how, the city has a fixed population, it can’t grow as quickly as business. Other option is to open new stores in new cities; that too involve too much cost and additional work load for Mr. X.
Mr. X then came to know about the new buzz word in market, E-Commerce, the new address of business World Wide Web. Commerce or business done using the internet or world wide web is in general named as E-Commerce. Different experts have different views in regard to this new and vastly growing mode of business. Let us see what exactly E-commerce is and whether it is advantageous or disaster.
- Expanded Geographical Reach: As we have seen Mr. X was worried to increase number of customers for his business. E-commerce, or online store for his garment business helped him to reach to innumerable more customer, without the disadvantage of cost involved in traditional store based business. He is now able to increase the geographical reach for all those with the internet.
- Expanded Customer Base: There are currently around 2 billion internet users and estimated 100 trillion online sales per year, which is still bound to leap many folds. E-commerce solution certainly expand customer base for Mr. X many fold.
- Available 24/7/365 – Never Close: Now Mr. X is able to keep run his shop 24×7, even when he and his staff are sleeping, his online store is getting visited by new customer and new orders are being placed. So E-commerce solution brings scope of 24×7 business to Mr. X.
- Easy Shelves Arrangement: The store management is so very easy with the E-commerce. Store owner doesn’t need to constantly worry about physically arranging and rearranging all the products on the slaves. He can easily present all the product in catalog manner in his online store.
- Collection of Customer Data: Online store also help us to gather the details about the customers as they visit the online store and make the purchases. Store owner can easily view all these data in formatted reports and get a more in-depth idea about the customers purchase trend and other details like which kind of product is more popular and which lacks sales. So plan the next steps for marketing campaign and stocking accordingly.
- Reduction of Marketing and Advertising Costs: With the store being online store owner doesn’t need to worry about the added cost of the costly marketing campaigns in print and TV media. We can do the marketing of our E-commerce store easily ourselves. Most of the E-commerce solutions, like Magento, X-cart comes with the Search engine Optimization friendly extensions.
- Convenient Shopping: From the point of view of customer, Ecommerce platforms provides great convenience from the traditional from store shopping. Tools like Magento allows store owner to add multiple images corresponding to the product, thus giving customer exact idea about the product. We can also manage multitude of details about the product, manage its reviews and comment by other customers, thus giving new customers much more confidence and reliability for the product.
There are many other advantages too, like E-commerce solutions like Magento, comes with extensions for most of the popular off-line sales management tools, so that transaction from the off-line to online is really-really smooth. Though there are multitude of advantages of Ecommerce Solutions, all side are not green for it too.
- Increased Shipping Time and Cost: One of the main disadvantages of E-Commerce is, increased cost and time involved in shipping product from warehouse to customer. Though initially it was a huge issue, but with the new set of service providers for shipping products from Store warehouse to customers, like USPS, UPS etc, this problem is also reduced to just marginal.
- Customer trust issue: Other main issue faced by start-up E-Commerce store is trust factor, with the customer. In physical store where the communication is one to one, this problem is minimized. For an online store, this trust could be developed using some proper, legal and standard document. We can also provide options like live chat and contact number, so that customer feed comfortable dealing with a person and is able to discuss any doubts.
A high quality and superior E-commerce website should make it simple to showcase and advertise your product or services online in most effective way. It should be done with a solid infrastructure and robust basis; it should be executed with the need for marketing campaigns and advertising chances.
Seeking a solution? B24 E Solutions will illuminate and expose the potential of your business. We recognize the key elements that visitors react to when shopping online. Discover our formula, discover your confidence. Call us now and get constructive answers quickly, or simply complete an inquiry form online.
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