Are you worried that the sales at your retail store have been hit by this pandemic situation of COVID-19?
How about if you start selling your retail store products online?
Online businesses are seeing tremendous growth in this pandemic situation.
This is because of two reasons; firstly people prefer to stay indoors and secondly, the lockdown timings have limited the hours of business operations.
How about you shift to e-commerce selling?
This will not only increase your sales but will also have many other benefits too.
Hence, in this article, I will tell you what e-commerce is and five reasons why businesses should embrace e-commerce.
Let’s find out.
What is E-commerce?
E-commerce is the sales or purchase of goods or services over the internet. You can do online payments as well as cash on delivery when you purchase online. There are four main types of e-commerce models; Business-to-Business (B2B), Business-to-Consumer (B2C), Consumer-to-Business (C2B), Consumer-to-Consumer (C2C).
5 Reasons Why Businesses Should Embrace E-Commerce
1. Staying competitive
With changing times, staying competitive is essential else you need to shut down your business. Many people still feel comfortable shopping in-store but online shopping is growing, especially in this pandemic. It is expected that e-commerce sales will reach $6.5 trillion by 2023. Therefore, it is crucial to embrace e-commerce in your business dealings and get the maximum benefit out of it.
2. Going Global
A physical store has limited access to potential customers. You can sell it in your neighborhood or utmost in the city. But when you sell online, your scope goes beyond a city and you can sell globally. And you even save yourself from sharing profits with intermediaries. Expanding globally also allows you to expand into new areas of your business. For example, if you are a makeup artist, you can sell makeup products or accessories online globally or even some customized products.
3. Lowering costs
Adopting e-commerce also lowers your business costs. You save on staff, rent, advertisement, overheads, and other business tools. You can create a personalized offering to your customers and create a more pleasant customer experience.
4. Establish consumer confidence by using your own web domain
When you bring in the e-commerce aspect in your business, your first step is to set up a web domain, and having your own web domain is the best thing. It shows that your business is doing well and is not operated by a third-party e-commerce platform. Your customers get the assurance that your business is here to stay.
5. Always Open
E-commerce is not bounded by time. You can do online shopping at 2 am in the morning or 6 pm in the evening, whenever it is easy for you. Especially due to COVID-19 lockdown timings, your business hours are limited so e-commerce helps you to reach customers who are unable to visit your physical store. You can browse the catalog and buy anything, anytime and anywhere.
So, if you are looking for the best e-commerce web development company in Singapore, then FirstCom Solutions should be your choice. They are in business for more than nine years. They provide a complete solution for your e-commerce needs. They offer an e-commerce storefront, orders, payments, inventory management, promos and discounts, and much more. They even use artificial intelligence for creating the best customer experience. They are even offering an 80% e-Commerce Development Subsidy under the Productivity Solutions Grant. So, do check them and get an appointment with them to proceed with an e-commerce solution for your business.