What is E-Commerce

E-Commerce is basically known as Electronic Commerce. Now to understand let’s dive in a little deeper to know what it means. Commerce is basically purchasing or selling a product or a service. When this transaction is done through the Internet it is called E-commerce. E-commerce can be done between, Consumer to consumer, Business-to-consumer, or Business-to-Business. E-commerce involves the exchange of Data or currency. E-commerce can be done through any smart device such as Computer, Smartphone, Tablet, Laptop, and other smart devices. 

What is the importance of E-commerce in today’s world?

E-commerce has played a significant role in today’s world. Any transactions you see are done in one or the other way through the Internet. Almost every single person you see now owns a smart device. As the population grows the number of people using smart devices grows. Practically everything is now available to purchase on the internet with just a touch of a finger. Everybody is aware of social media platforms such as Facebook, Instagram, WhatsApp, etc. People do not only like to communicate through the internet but also do everything else. The Internet has become the medium for everything such as Communication, Entertainment, Education, Working, Researching, Shopping, and of course Dating. 

Now where does E-Commerce fit in? Well, In the last two decades, the Internet has spread across the globe so fast that it has made almost every person carry a smart device. We do most of our work through our smart devices, let it be office-related work or personal work. Shopping has become the easiest and most convenient. One can buy groceries, clothing, food, furniture, equipment, land, and almost everything else. People who have even a small store or a business can now register themselves online and just by opening a website, they can sell their product to customers without even having to own a physical office. Even if the product is just created at your own house, you can simply put it on sale on the website. One of the best things in E-Commerce is that anyone who has access to the internet can view or purchase the product listed online.

Why is it competitive between normal stores and online businesses? 

Since the busy life consumes most of people’s time, online shopping is called out to be the best way where one can save time and money while purchasing a product. Consumers can literally be able to see the whole virtual store with all the products listed of different varieties with just a click of a finger. Not only that but there are also multiple payment options such as credit cards, Cash on delivery, redemption of coupons, and many others. Many different discounts, coupons, and bonuses are included which are not usually available while purchasing from a store. 

While you wonder Offline stores can make you see the authenticity of a product while purchasing. An online store provides a wide range of options where one can compare product durability, check reviews commented on by other buyers, and compare prices with many other websites by just sitting in the comfort of your house. While this has saved time and travel expenses for many customers, especially for business and store owners, it has helped in a great way because their business and products are recognized worldwide, which has helped them obtain a huge growth in sales. While social media has taken over the world and has brought great benefits to consumers, it has made things even easier for sellers. Marketing, advertising, and broadcasting have taken online businesses to a whole new level. 

What benefits has it brought to businesses or store owners?

We all would agree if I said, all the brands that we know today are introduced to us through social media. Through online marketing and advertising, we can now name the products of the brand we never knew of before. Starting a business can be overwhelming even with a proper plan and setup. To start a business there are a lot of factors that come. Startup cost, Marketing cost, the hardship of drawing clients, Overhead cost, and Advertising. 

While all these things can be done with little to no effort in online business. You don’t have to rent a commercial place to run your business, which is a lot more cost-effective than running a physical store. A physical store requires a lot of investment such as legal authority approval, Security for the property, Maintaining and keeping it customer-appealing, hiring manpower to help customers with the service, and a lot more. Whereas an online store simply requires a Domain name, Web hosting, and the cost of building your website. The investment can be a lot cheaper and can also be used in advertising as well. As compared to an offline store, an online store has a broader audience which not only allows you to sell to potential customers but also gives you an opportunity to expand your business with the medium of sponsorship and collaborate with other brands. This not only gives your business a boost but also widens the opportunity to expand the business in other countries.  

Most importantly, an online business gives you flexibility. Who doesn’t want to go on vacation without worrying about missing sales or having to close the store? An online business can give you the flexibility to run it from any side of the country. It allows work-life balance. Since your store is virtual, you can literally be making money while you sleep. Also, with the faster transaction mode, keeping track of the finance record has been a lot easier as compared to a physical store. 

Why is it hard for just any person to do it?

Providing goods and services isn’t as easy as it may seem. It requires a lot of research into the products and services you want to sell, especially when there are countless businesses with huge competition and to be able to target the right customers. With a lack of knowledge on how marketing works, it becomes really challenging to even start up. Starting a business alone requires a lot of knowledge to know how to create a website that offers security and a safe space for all your virtual inventory and data. Just like a physical store an online store also faces security threats which can be on a heavier side and can cost you. You should really make an investment in your hosting if you want to give your customers a sense of security. Maintaining your website on a dedicated server with round-the-clock support could help you a lot. 

Now, there are customers who have products or services to provide and want to start a business but have very little to no knowledge about how to create their own online store generally end up making mistakes such as undervaluing the products, not having a plan of attack, not focusing enough on customer service, Technical issues which may cause and can put a huge impact onto the business. There are also those mistakes that a start-up owner makes is giving away too much to keep the customer, Not doing proper advertising, and being prepared for potential losses. Without proper research or guidance, there is a big chance that your company will run out of money before it makes any. 

Disadvantages of E-Commerce- 

• Potential Security Threats- 

The risk of security threats always exists when you manage your business online. Unauthorized users may access your website and view sensitive information if it is not secure. Sometimes, problems with payment processors may result in data breaches that can jeopardize the security of customers’ credit and debit card information. Some business owners choose to hire a professional because learning how to create secure e-commerce websites is a key component of the process.

• Competitiveness-

Since almost everybody is trying to open their own online store. It has become a competitive market which means one has to work extra hard to make sure the right traffic is driven to their website. In the end, how diligently you work on building your presence on the internet will determine the outcome of your store.

• IT Issue

IT issues can be a major problem for an E-Commerce Website. If an It issue occurs and the website goes down unexpectedly or in case of an issue with the payment processor, it can cost you both money and the customer. 

• Logistics for shipping

Compared to a physical store an online store must make sure that every purchase is delivered to the customer, unlike the physical store where once the product has been sold the transaction is completed. Finding a seamless shipping solution for your company can be challenging, and you don’t want to go into the red because of expensive shipping charges.

When you own an online store, you don’t get the ability to personally interact with your clients. Some individuals would like it, but when you make a sale online, you can’t provide the same level of individualized service and only the right marketing strategy can help you deal with this situation.

Urban Startup               “Let’s you start your own business”

Urban Start-up is a company that helps you start your own business online. Our company not only helps you build your own exclusive website but also helps you expand your business. Our expert team of designers will work closely to create a visually appealing and user-friendly website that reflects your brand’s identity and engages your customers. 

But our services don’t stop at website design. We also offer continuous IT support to ensure that your online store runs smoothly and efficiently. We understand the challenges that arise in the digital landscape, and our dedicated support team is always available to assist you with any technical issues or concerns you may have. We are committed to providing you with peace of mind so that you can focus on growing your business.

What sets us apart is our ability to seamlessly integrate your e-commerce platform with major online marketplaces like Amazon and Flipkart. This opens a world of opportunities for your business, allowing you to tap into a larger customer base and increase your sales potential. We handle the complexities of the integration process, ensuring that your products are showcased across multiple channels, reaching a wider audience, and maximizing your profitability.

Whether you’re looking for a complete e-commerce solution or need assistance with specific aspects of your online business, Urban Start-up is your trusted partner. We combine cutting-edge technology, creative expertise, and a deep understanding of the e-commerce landscape to deliver exceptional results that exceed your expectations.

We invite you to explore our services and discover how we can help you unlock the full potential of your e-commerce start-up. Our team is ready to collaborate with you, bringing your vision to life and empowering your business for success. With ongoing support, we would love to hear about your company’s concept and help you get it off the ground seamlessly.