By now it can be safely assumed you've heard the term, e commerce, but what does it actually mean? Put plainly, e commerce, or electronic commerce, is the buying or selling of products and services via the internet. More and more businesses are making the transition from brick and mortar businesses to internet based business but why? What are the advantages of e commerce and should you make the transition?
The answer, obviously, is it depends on what you do. If you are in a business based on face to face interaction then perhaps switching to a straight e commerce business is not an option. However, if you sell a product or service that can be provided from a remote place, then it's time for you to make the transition or at least integrate e commerce into the equation.
So what are the advantages of e commerce? For starters, you could grow your business into a worldwide market. A brick and mortar business can reach as far as people are willing to drive to get to you. Selling your product or service via the internet makes you accessible to people anywhere. A bigger market means bigger profit.
Another one of the many advantages of e commerce is the overall cost of doing business. If you have the option of switching to an e commerce business you will not have to carry the costs of lease space and utilities, you can cut labor costs, and possibly cut down on shipping costs for you products. E commerce for informational products is growing rapidly due to no shipping costs. More and more people are opting for instant downloads versus buying books or manuals because of the convenience.
Probably one of the main advantages of e commerce that drives businesses to record sales is that people can shop online at anytime and from anywhere. Finding the perfect product becomes a whole lot easier when you have the option of browsing multiple stores from your couch. The problem is, you need to make sure that potential customers are finding you and not your competitors. So when switching to an e commerce business make sure you know how to market on the internet or at least hire a company that knows how to.
As a business you should way out the advantages of e commerce. Is it something you can do? Could your customers buy your service or product online? If so, it's time you evolve with the times and incorporate e commerce into your business. If you do not you could be giving a lot of business to your competition, who by the way, have most likely already realized the many advantages of e commerce.
