E-commerce allows customers to overcome geographical barriers and allows them to purchase products anytime and from anywhere. Online and traditional markets have different strategies for conducting business. Traditional retailers offer fewer assortment of products because of shelf space where, online retailers often hold no inventory but send customer orders directly to the manufacture. The pricing strategies are also different for traditional and online retailers. Traditional retailers base their prices on store traffic and the cost to keep inventory. Online retailers base prices on the speed of delivery.
Research from BigCommerce has found that Americans are about evenly split on online versus offline shopping, with 51% of Americans preferring e-commerce and 49% preferring physical stores. However, 67% of millennials prefer shopping online over offline. According to Forbes, 40% of millennials are also already using voice assistants to make purchases, with that number expected to surpass 50% by 2020.
Magento is an open-source platform offering maximum flexibility as well as third party integration. It comes with an abundance of features other platforms are missing, including multiple locations, sites, languages, and currencies. Magento also happens to be very scalable and it suited to grow your small or enterprise business to a thriving online store.
Another significant benefit of using e-commerce software is that it generates a lot of data that is used by other systems such as CRM software, accounting software, ERP systems, and supply chain and logistics suites. For instance, detailed information on sales and returns can be used to determine the profitability of the company, how to improve inventory levels, or which customers are the most profitable and which ones are not generating significant revenue.
The definition of e-commerce includes business activities that are business-to-business (B2B), business-to-consumer (B2C), extended enterprise computing (also known as "newly emerging value chains"), d-commerce, and m-commerce. E-commerce is a major factor in the U.S. economy because it assists companies with many levels of current business transactions, as well as creating new online business opportunities that are global in nature.
Choosing the best ecommerce site builder is really based on your needs. We do want to recommend that you consider a few as front runners – BigCommerce was by far the strongest option for start-ups looking for a platform to grow your business with. Prestashop gives entrepreneurs the best bang for your buck. X-Cart is one of the best free ecommerce platforms if you have dev resources.
WooCommerce is the most popular WordPress eCommerce plugin. And it's available for free. Packed full of features, perfectly integrated into your self-hosted WordPress website. Add powerful shop facilities to your WordPress website with our free eCommerce plugin. Powering over 24% of all online shops, WooCommerce helps you sell anything. Beautifully.
From technology innovation to the workplace, the business landscape has been evolving rapidly, and companies now are tasked with adapting to fast change in a world of digital transformation. There is one element that will remain a constant requirement for success: meeting the needs of customers and delivering a quality experience. Nurturing customer relationships is vital for a company's success. [More...]
OpenCart. OpenCart could be a great choice for small businesses without tech savvy employees. OpenCart is very simple to install and start using. It runs very quickly using simple code. OpenCart allows you to set advanced user privileges and separate access for users and groups. A simple code also has drawbacks; often for sale extensions and themes may not be up-to-date with security standards.
E-commerce brings convenience for customers as they do not have to leave home and only need to browse website online, especially for buying the products which are not sold in nearby shops. It could help customers buy wider range of products and save customers’ time. Consumers also gain power through online shopping. They are able to research products and compare prices among retailers. Also, online shopping often provides sales promotion or discounts code, thus it is more price effective for customers. Moreover, e-commerce provides products’ detailed information; even the in-store staff cannot offer such detailed explanation. Customers can also review and track the order history online.
Too bad its pricing is a bit outdated. While you get a decent number of features in its starter plan, it is limited at 4,000 visitors (actually it’s limited on bandwidth, but it does the math for you). It’s also limited at 100 products, which equals 20 visits per product. That’s not enough for a decent conversion rate. Even when you pay $129.99 a month you only get 90,000 visitors, which isn’t that much. Its High Traffic Plus plan will give you up to 500,000 visitors (at a staggering cost of $499.99/month).
SquareSpace is comparable to Wix and WordPress more than a dedicated ecommerce platform like BigCommerce. However, it offers many features that are attractive for smaller websites. If your ecommerce business is on the smaller side and you’re not looking for advanced features, SquareSpace will make setting up an online store pretty simple and painless.