E-commerce is booming during the pandemic, presenting a big opportunity for entrepreneurs to set up shop and start selling. Here’s what you need to know about this type of business.
E-commerce has surged during the pandemic, enabling businesses to survive and thrive.
You don’t have to spend much money on overhead when you run an e-commerce business compared to a brick-and-mortar store, and it gives you access to a worldwide audience. 카지노사이트
There are some inherent challenges to running an online store, such as the increased risk of fraud and high rates of cart abandonment.
This article is for people who are interested in launching an e-commerce business and want to learn the basics.
Selling products and services over the internet took on new importance during the COVID-19 pandemic, as business owners and consumers had no choice but to embrace e-commerce. That shift is here to stay, presenting opportunities for small business owners to thrive online. But before you set up your internet shop, you have to understand how it all works.
Editor’s note: Looking for the right tools to help build your business website? Fill out the questionnaire below to have our vendor partners contact you about your needs.
What is e-commerce?
E-commerce is the process of selling goods and services over the internet. Customers come to the website or online marketplace and purchase products using electronic payments. Upon receiving the money, the merchant ships the goods or provides the service.
Electronic commerce has been around since the early 1990s when Amazon just sold books, but today, it’s a multibillion-dollar industry – and it has gotten even bigger during the pandemic. According to Digital Commerce 360’s analysis of U.S. Department of Commerce data, e-commerce spending hit $347.26 billion in the first half of 2020, up 30% year over year. For comparison, e-commerce sales only increased 12.7% during the first six months of 2019. 안전한카지노사이트
It’s not surprising. With few other options, consumers got used to buying everything from food to furniture from online stores.
“We’re certainly seeing several studies that show folks are going to keep their new habits,” Tory Brunker, director of product marketing at Adobe, told Business News Daily. “I really think this is our new normal.”
According to research from consulting firm McKinsey & Company, several online shopping categories are projected to grow more than 35%, including over-the-counter medicine, groceries, household supplies and personal-care products.
How does e-commerce work?
E-commerce works on the same principles as a physical store. Customers come into your e-commerce store, browse products and make a purchase. The big difference is they don’t have to get off their couch to do so, and your customer base isn’t limited to a specific geographic area or region.
Whether you’re selling running shoes or home supplies, you go through the same process when operating an e-commerce website: 카지노사이트 추천
Accept the order. The customer places an order on your website or e-commerce platform. You’ll be alerted that an order was placed.
Process the order. Next, the payment is processed, the sale is logged, and the order is marked complete. Payment transactions are usually processed through what is known as a payment gateway; think of it as the online equivalent of your cash register. [Read related article: What Is a Merchant Account?]
Ship the order. The last step in the e-commerce process is shipment. You have to ensure prompt delivery if you want repeat customers. Thanks to Amazon, consumers are used to getting items within two days.