In today’s digital era, the landscape of eCommerce has undergone a transformation fueled by the thriving internet market. With the convenience of shopping from the comfort of their own homes, consumers are flocking to online platforms where they can explore various products and services with just a few clicks. This surge in online shopping has propelled the e-commerce sector into unprecedented growth, making it imperative for every business owner to establish a robust online presence with eCommerce websites to capitalize on this trend.
But what exactly is eCommerce? At its core, eCommerce involves the electronic buying and selling of goods over the Internet. It encompasses a range of practices, including internet marketing, electronic funds transfer, and mobile commerce. This multifaceted approach is divided into two primary components:
It’s easier to cultivate repeat customers with an eCommerce Store, a benefit that many business owners utilizing other commerce methods struggle to achieve. According to a survey conducted by ICRIER, 65% of MSMEs cite the primary advantage of having their own eCommerce website as the ability to retain customers effortlessly.
Securing repeat sales from existing customers proves to be the simplest and most cost-effective method to boost overall sales. Unlike selling on online marketplaces such as Amazon, where enticing customers to return can be challenging, eCommerce websites offer features tailored to customer retention. For instance, customer accounts on your online store allow you to gather customer data and utilize it for personalized communication.
In addition, platforms like Instamojo provide various features specifically designed to encourage repeat purchases:
A significant number of online sellers in India identify competition from larger sellers as a major obstacle to their business growth. This competitive landscape is expected to persist as more businesses opt for eCommerce. But is it possible to stand out and attract customers without solely relying on competitive pricing?
Contrary to popular belief, shoppers don’t always prioritize the lowest price when purchasing online. Products with superior features and presentation have the potential to win over buyers, especially when showcased effectively. This is where eCommerce websites for businesses come into play.
Launching an eCommerce store marks the initial step towards establishing a direct-to-consumer brand. 59% of MSMEs in India acknowledge that having an online store reduces competition compared to other eCommerce modes. By building a distinct brand identity, eCommerce websites offer businesses the opportunity to distinguish themselves from others, regardless of how commonplace their products may seem.
Competing with established brands stands out as one of the most significant advantages of having an eCommerce website. Here are some eCommerce website features that can help businesses gain a competitive edge:
Having an eCommerce website can significantly increase sales, serving as the ultimate goal for any business. According to the survey, half of the business owners with eCommerce websites report higher sales compared to other modes of commerce, such as online marketplaces and social commerce.
How does an eCommerce website drive more sales? Firstly, customers can make purchases directly without extensive communication or negotiation. The streamlined purchasing process simplifies transactions, leading to higher conversion rates.
eCommerce websites offer features that facilitate quick customer conversions. Here are some additional features that contribute to increased sales:
If the concern about initial capital is holding you back from launching your eCommerce venture, reconsider! Transitioning your business to digital platforms may seem costly, but in reality, setting up an eCommerce website can be achieved with minimal investment or even for free.
With platforms like Instamojo, you can create a free online store and start selling instantly. As your business drives ahead, you can easily scale up by subscribing to a premium plan.
Launching an eCommerce store has never been easy, thanks to eCommerce website builders like Instamojo. Small businesses can establish an online presence within days if not hours. You can begin building your online store immediately upon signing up, even before committing to a plan. Furthermore, these services are both affordable and rapid.
Many eCommerce ventures falter due to the inability to reach the right audience. In the vast virtual marketplace, your products may get lost amidst the competition. However, with an eCommerce website, you can attract customers who are willing to purchase from you.
There are two primary methods to attract the right customers to your eCommerce store:
Selling through your website offers the potential for better profits compared to online marketplaces. As the business owner, you have full control over pricing, allowing you to set profit margins that align with your bottom line. This eliminates the risk of price undercutting by competitors, ensuring higher sales and profits.
Additionally, eCommerce websites provide tools to track orders and transactions, simplifying the process of measuring business profitability. With Instamojo’s eCommerce websites, you can access valuable data to make informed business decisions and enhance profitability.
Embracing eCommerce through establishing an online store offers myriad benefits for businesses of all sizes. From cost-effective startup options to simplified customer acquisition strategies and increased profitability, the advantages of eCommerce websites are undeniable.
