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5 Aspects that Influences the Success of an e-Commerce Venture

Commercial ventures are nothing new in the human history. In the ancient times, commerce was carried on through barter system at a marketplace. But with the progress of time and technology, people do not need to physically venture out for buying or selling any product or service. You can literally do everything related to commerce sitting in your living room and this has been made possible by e-commerce. In fact, e-commerce has completely altered the lifestyle of a consumer as they sit in the comfort of their homes and shop for their favorite products.

Entrepreneurs can accelerate the pace of both the online and offline business with the development of e-commerce websites and apps. The typical advantages of an e-commerce store are as follows:

  • E-commerce is certainly one of the most cost-effective ways of conducting business. The cost of building an e-commerce website or an app is much less than setting up a physical store along with the other infrastructure cost. E-commerce also reduces the cost of marketing and promotion of the products and services to a great extent.
  • There is no geographical and time barrier in purchasing and selling an e-commerce product. You just need to have an internet connection and you will be able to purchase your desired product even at midnight. Since the online store is on the World Wide Web it can reach its target customer base at any given time.
  • If a customer has registered with an e-commerce store then he/she will receive push notifications about the latest products, discounts, and special occasional offers. These notifications are a great way to stay in constant touch with the consumers.
  • E-commerce erases the inconvenience of transporting purchased product home. The purchased product is delivered at the doorstep of the customers and this saves a lot of time and money.

The above advantages of e-commerce make it an inevitable key to success for an enterprise. Going the e-commerce way is indeed advantageous for both the business owner as well as the consumers. It is perfect for selling both tangible and intangible products. The aspects that make e-commerce a ladder for accomplishment is as follows:

1. E-Commerce Influences Buying Decisions

Customers today are hooked on to the internet and before finalizing any kind of purchase they go online. An e-commerce store acts as the showroom where they can not only see their products but can also do the relevant research. This helps them see the very logic behind buying their desired product. Again, when the website is easily navigable and can be handled with just a few clicks the buyers are more attracted towards it. An easy-to-use website with innumerable product views encourages the customers to take a positive decision regarding product purchase.

2. E-Commerce Bonds Well with Social Media

Social media channels are a whole new world for the modern consumers, especially for the young ones. Consumers often visit social media for researching about a product before making the purchase.

A savvy business owner always establishes their company’s online identity through their company’s social profile. This, in turn, can convert into increased traffic and sales. In fact, a well-planned social media strategy goes well with an e-commerce venture as it helps in building a constructive relationship with the consumers. Special offers, discounts, any kind of competition meant for the customers can be shared on the company’s profile in order to catch the eyeballs of the customers and to boost visits.

3. E-Commerce Erases Inconvenience

In the contemporary times, the life of a consumer is busy and sparing a considerable amount of time for visiting a brick and mortar store is not easy. Nowadays, consumers like to shop at their own convenient time and an e-commerce store means that it can aptly fit into their customer’s time schedule without coming in the way of their daily routine.

4. E-Commerce is All about Customized Services

E-commerce stores are great for offering more personalized and customized services to the customers. Such stores can take into consideration the recommendations by the customers, can offer very fast customer service, and can track their orders and also can offer personalized rewards against any particular purchase. These personalized touch helps to develop a deeper bonding with the customers.

5. E-Commerce can Diversify and Broaden the Scope of Purchase and Sale

The variety of products that can be sold on an e-commerce is just never-ending. Even an intangible product can be purchased from such a store. Providing the scope for a broad-based search which helps the customer in procuring a product according to their exact choice. A variety of products can be brought under the umbrella of e-commerce giving a scope for more diversification and choice.

E-commerce means 24/7 convenience for both the business owner and the consumer. So an easy to navigate e-commerce store combined with an evolving social media strategy and an impeccable customer service is an assured success.

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