eCommerce is the activity of buying or selling products on online services or over the internet. In this past recent years, with the increasing height and activity of our technology, eCommerce is also gaining its popularity. They are also drawing on other technologies such as mobile commerce, electronic funds transfer, supply chain management, internet marketing, online transaction, electronic data interchange, inventory management system, and automated data collection system.
eCommerce has become a lucrative business opportunity for a lot of reasons. With eCommerce, you are able to reach and market your product to a higher broad of customers, thus increasing your potential to earn revenue.
According to the statistics, big eCommerce sites reported a growing increase of 23% sales year over year and the global eCommerce sales are expected to top $27 million in 2020.
eCommerce nowadays is not only limited to selling physical goods but also services and even online and digital products.
Underneath is the reason to start your own eCommerce site:
- 1. Control Your Own Revenue
When you have a product or your own, it is better if you have a web that is dedicated to selling your own product. Aside from the fact that you do not need to pay commission to a third party for allowing them to host you so you will be able to sell your own product.
If you are not capable of building your own web, and you are just starting out, then the best option is to join Instagram or facebook and sell your items there. In that way, you will be able to have access to a larger market, but not having to pay for another party.
- 2. Establishing Your Own Rule
Most of the market place host has a certain rule, like refund policy, customer purchase policy.
More often these rules and policies are one shoe fit all, and might not be suitable for the type of product that you offer, or your business model and even your funds need.
If you start your own eCommerce, then you will be able to establish your own policies in accordance to your business model and business needs, as well as your product.
- 3. Know Your Customer
If you have your own eCommerce site, it is the same as you have your own brick and mortar site without having to pay for rent. Like any brick and mortar establishments, they are able to customize the customer experience because they handle the business and became one point of contact with the customer directly.
This allows you to be able to recognize customers as individuals and provide them with their own customized shopping experience. In the end, you will be to increase the chance of the customer returning to you if you are able to handle their complaints or even queries in a professional manner.
- 4. Increase Customer Engagement Chance
When you have your own eCommerce site, you are also able to increase the chance of customer engaging with you. You might not have a new product every day, but you can custom design your own website so that you are also increasing the chance of customer engagement.
With an increase in customer engagement, not only that they will return to you for the next purchase, but also you will have the chance to be an affiliate network for internet marketing to another website.
There are many ways to increase customer engagement, one of the simplest ways is to create a blog post on the website. This way, you can also help customer solve their problems if they have any difficulties navigating through your website.
- 5. Reach A Wider Market
The Internet has opened a lot of channels for us to be able to reach a wider market. If you can incorporate international shipping services in your website, or eCommerce site then you will also increase the chance of your product being purchased overseas. In a simple way, you will be able to get access to people whom you will not be able to get access too if you own a brick and mortar shop.
- 6. Create Jobs
Aside from increasing your own revenue, you will also be able to create jobs for others. With increased sales, you will be able to tie up with a certain delivery company to deliver your products. This also means an increase in business for that service delivery company.
With an increase in your brand, or eCommerce site, you will also be needing administrators, that help you assist your customer better. The more your business volume increases, the more jobs that you will be able to create.
According to a study, this is proven to be able to give personal satisfaction for entrepreneurs alike.
- 7. Control Your Customer Data
If you build your own website, you will be able to control your customer data better than putting your customer’s data in jeopardy. When you use another site to host your product, there is also a chance that your customer’s data is being used for their purposes no necessarily yours.
The more you control your customer's data, the more you will be able to customize your product according to what they are interested at and what they need.
- 8. Earn Money While You Sleep
Unlike brick and mortar shop where a location is very important and can be detrimental for your business, in eCommerce you can set up a storefront at your own domain and sell your products on a global scale.
If you have successfully set up your own website in an automative manner, this means that the sales that are coming in will not have necessarily wait for you to be there. There are also pop-ups trends, where eCommerce sales will be able to be conducted with only a small sample of the product, a tablet, and a card reader.
In short, eCommerce provides you a various way to earn if you are able to take advantage of the technology.