E-commerce is a very common term that is used these days. It is the act of doing business with the help of the internet. It means that a business is using its online platform to sell their products or services to customers located locally and internationally. In a conventional store, there are a lot of overhead costs and to know more about it check here. Any product or service can be sold with the help of the internet. If you are still having your doubts, http://linkedin.com/ would be of great help to you. As per a recent survey, about sixty percent of people in developed countries are using the Internet to purchase a product or a service.
An online shop helps the business in increasing its profits. Here is how you can do it:
When you have an online store, it can be accessible to customers all over the world without any additional marketing costs. If you already have a global presence, then it makes it even easier for the existing customers and also helps in getting new customers. The best advantage is that your store would remain open to global customers even when you are fast asleep which is not easy in the case of a physical store.
Reduced maintenance cost
We all know that every penny saved is equal to a penny earned. The main costs that are associated with a physical store such as rent, maintenance, inventory, salary of staff, etc. are all minimal in the case of an online store. This is one of the main reasons that online stores are able to offer unimaginable discounts to customers which in turn will also increase the customer base and thereby the profits.
Monitoring customer habits
In a physical store, it is difficult to record each and every customer details and note what they buy often and when they buy it. In the case of an online store, you can track individual customer buying habits. Overall also, you can track the buying habits of customers and keep your inventory stock on par with the demand. By doing this, you save a lot of money that might be used in buying a lot of inventory that could end up in dead stock.
Shopping is very convenient when you have an online store. Customers can shop from the convenience of their homes and just at the click of a mouse button, or even the touch of the finger would do. There is no cost involved for the customer. If the customer has to walk into a physical store, they have to allocate a specific time, take a mode of transport to reach the store, take the time to find the product and then take a mode of transport back to the home. Whereas in an online store, customers can order any product that they desire without having to spend much of time or money. In addition to this, most online stores offer products at a good discount. This is an added advantage to customers.