Top 10 E-Commerce Benefits and Limitation of E-commerce
You may have heard the term before without realizing what it really means. E-commerce is essentially an internet transaction. According to most people, E-commerce is basically the buying and selling of products over the internet. That, however, is too simplistic and narrow of a definition. If you take into account all of the components that make up E-commerce, you will realize how much more of a role E-commerce plays among all of the activities that take place online. In a broader sense, it’s a commercial transaction that is undertaken using the internet. The customer places their order using their mobile or computer connected to their internet. This means you can sell products or services online. The customer will have the option to order a product or service from a specific page on your website. You will then notify yourself instantly and content fulfills the order. For those that are not too familiar with the E-commerce definition, they usually do not realize that services can also be bought and sold. For instance, there are web design, marketing and many more services that can need to complete physically or through the web. Physical services may include local businesses that have a website allowing potential customers to pay for and schedule services can complete its job at a later date. Web services may include anything that can accomplish over the internet. There’s a misconception that E-commerce solely deals with Business to Customer type websites. But they don’t realize how much Business to Business and Consumer to Consumer activities go on over the internet. All these 3 types of Ecommerce business (C2B, B2B, C2C) combined together to make up the entire E-commerce definition.
TOP 10 E-commerce Benefits
There are many benefits of E-commerce. We will talk about Top 10 E-commerce benefits out of it.
No Boundaries for ecom business
In E-commerce, it doesn’t matter where your business is located. You can sell to anyone in the world with E-commerce. Most payment processes offer the ability to change amount into dollars, Euros and multiple other currencies. You just need to decide which country you want to sell to and what shipping charges would apply etc.
E-Commerce benefits of ‘No boundaries’ offer you greater possibilities of attracting new customers. You surely want to spread your business and find customer from other sides of your country or even from other sides of the world. E-commerce will help you to do this.
Lower Setup and Maintenance Costs
Others E-commerce benefits or the advantage of it is its ‘Lower costs’. Once you set up your E-commerce arrangement, all you have to do is to provide the product services to the customer. The customer will have paid affront. So there’s no cost associable chasing invoices etc. You will be notified electronically.
Ecommerce Customer Growing
E-commerce is growing all of the time because customers like it. A lot of people prefer to shop online rather than travel to the town shop center. Here in E-commerce you do not physically have to be there to give the order. E-commerce system will handle everything.
People all over the world are using E-commerce and transactions are growing fast. There are now truly global acceptance and the currency conversion standard these days that way that internationally commerce transaction will grow.
You can buy a thing from E-commerce store even at midnight! And E-commerce store never closes. A lot of people work hard all day and do not have a time to go to the shop. So in the evening or in the weekend, they like to shop online.
In this business, you can expand your existing market and develop and grow a new one. You can sell your product to the customer on the national and international basis. You will not get any barrier with E-commerce.
Ecommerce Customer Service
E-commerce system will handle all the notification and will allow you to contact with your customer for more product services. This means it reduces your paperwork. You didn’t need to enlist amount of paper when you set in online. There is no need of sending e-voices as this is all handling automatically by E-commerce system.
You don’t want your employee is bogged down with paperwork. It is better that they are concentrating on marketing and customer service to grow your business. E-commerce service comes with this benefits.
Ecommerce Brand Awareness
The e-commerce site will also help with your brand awareness. There’s a People’s perception that if they have had a good experience on buying product online than they would tell everyone about the site and its address
Limitation of Ecommerce Business
Doubts about authenticity and security
Many people have reservations regarding the requirement to disclose personal and private information for security concern. Some simply refuse to trust the authenticity of completely impersonal business transactions as in the case of E-commerce.
Products Shipping Time
The time required for delivering the physical product is also significant in E-commerce. Hence it’s not suitable for perishable commodities like food items. A lot of phone calls and E-mails may be required to get your desired product. Returning the product and getting the refund can be troubled some time to consume which compels people to prefer shopping in a conventional way.
Common Ecommerce Website problems
The biggest disadvantages of E-commerce is that no one can buy from your store if your site crashes. That’s why it’s important to ensure the performance of your website and platform. Fortunately, a site like Shopify offers you free hosting in their monthly fee allowing to have one of the best servers on the market.
Lot of Scammers In Ecommerce Industry
Yes, there are Lot of scammers there which offer great deals and don’t provide such good services or products. For this a great payment method Paypal is there. which offer a full refund if you don’t get the Required Item. Thanks
E commerce Competitiveness
Finding the proper niche is another one of the worst ecommerce disadvantages. The reality is the best niches are often the most competitive that’s why people are fascinated to them. The more competitive a niche is, the more expensive ads for that niche you will get. There are a couple of ways around this. First, you can go after a different audience than your competitors. If all your customers are getting competitors through Facebook ads, you might try ranking organically in search. If all your competitors are using Instagram you might try Pinterest which is also a very visual platform. And secondly, if your ads are expensive, you can send traffic to blog posts and retarget your customers who visit them to create lower cost ads.
Customer can be impatient
In E-commerce there are disadvantages that most businesses delay responding to customer inquiries. The reality is most customers expect a response from a business within the hour on social media. If you delay in responding to their message, they can become aggravated and shop somewhere else instead. You need to be online 24/7. You can hire customer service representatives who are trained to make your customers happy via platforms.