Business

E-commerce business and its future prospects

We live in a time when if a business is not on the Internet it seems that it does not exist. Therefore, more and more entrepreneurs choose to sell their products and services exclusively through the Internet, while traditional businesses have seen in electronic commerce a form of complementary sales.

The electronic business, also known as e-commerce, began to establish itself in our lives thanks to the internet in the mid-90s and since then it has not stopped winning followers. To such an extent that, almost 30 years later, in Spain there are more than 85,000 online stores and it is expected an increase in sales through the internet throughout this year that exceed 12 billion Euros.

The online sale has many advantages over traditional sales methods. Here we show the 10 most relevant to understand the “why you have to be on the Internet”:

The initial investment is less:

While it is true that creating an online store requires time and effort, the initial costs are lower than when trying to create a physical business: a computer, a domain, a website and a good logo that accompanies the name of your company, will be enough to take the first step.

Saving is fixed and variable costs:

The online sale allows dispensing with the rental of a physical space and the expenses derived from it, neither require permits or opening licenses and the number of workers is much reduced.

It is easier to manage:

No matter where you are, you can control your business from anywhere in the world if you have an Internet connection. The effort is no longer focused on generating closeness and confidence in a personal way but on winning over customers through brand value, a good image, an optimal customer service and a fast and functional delivery service.

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Retrench of space:

In a physical store it is necessary to have a stock of merchandise, which generates storage and logistics costs that in the online store become non-existent. Now you work on stock sold, which means that once the customer makes and pays the purchase, depending on the type of business you have will be the manufacturer who delivers the product to the final consumer or the transaction is made through of suppliers and distributors with what is contacted from the store.

Broader merchandise catalog:

Working directly with suppliers and eliminating the stock allows us to offer the customer a much wider range of products, be able to offer greater discounts and even have an outlet section to give out the unsold stock.

A new public:

Physical stores are also conditioned by their location and their local audience. Thanks to electronic commerce , geographic barriers no longer exist and anyone interested in products and services can access them, regardless of where they are. The important thing is to have a good marketing and communication plan, after having carried out an exhaustive market study, in order to reach our target audience.

24 hours, 365 days a year:

Through e-commerce, not only geographic borders disappear, but also temporary ones. The customer can access our market at any time, any day of the year.

In spite of this, in case of offering customer service, the schedule must be communicated so as not to generate distrust. In order to become successful in your E commerce startup you should always take help from an expert financial adivsor like Bradley Fauteux who is one of the renowned and well-reputed global financial consultants. Brad Fauteux has been serving various companies with his financial plans, suggestions, advice and decisions for over sixteen years.

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