E-commerce along with other technologies has led the way of revolutionizing the 21st century and over the past decade has developed into a full-blown industry. The reason behind this boom is that present day customers are more interested in commerce coming to them rather than them going to commerce.
E-commerce as a platform for shopping provides convenience of shopping 24 * 7, along with discounts and savings and even the option of comparison-shopping thus making it a hit among people. Study explains that e-commerce is growing rapidly and changing the way customers shop. In fact, online retail purchases are expected to account for 53% of all retail sales in the U.S. by 2014 which looks out to be promising.
Social media is being used enormously by retailers to acquire new positions, social properties and along with it building online communities, as it is one of the most essential aspects of E-commerce business model. This form of business and advertising is more economical for retailers and merchants, along with the consumer. E-commerce today includes small time retailers and merchants to huge business empires, a perfect example of the momentum it has gained off late.
E-commerce is important for your business as
• It provides greater visibility to your products and brand
• It proposes a wide marketing base.
• It even eliminates the requirement of a physical storefront.
E-Commerce can be predicted of having a bright future: as the number of people are turning towards the web for their shopping requirements, and number of retailers doing business online is increasing simultaneously.
However there are a few hurdles in the future that E-commerce might have to face but they can be taken care about with proper planning and advertising plans. Some of them are discussed here:
• There are going to be innumerable similar sites, so it’s definitely going to be your product and your marketing that will give you an edge over another.
• The constraint of the consumer to actually view a product in real life also affects sales, but thanks to social networking sites like Facebook and Twitter where people exchange viewpoints on products and services which builds in customer trust.
• Many customers get bothered by the number of email, spam and other marketing stuff which starts pouring in after the purchase. This thing is to be kept a check upon in order to maintain your customers and your business growth.
E-commerce will bring about significant changes in the way people shop in time to come. Considerable modifications are done every day in order to improve customers shopping experience. Despite all the odds E-Commerce is here to stay as it transfers the power of buying products and services into the hands of the user.