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IMPORTANCE OF E-COMMERCE
In today’s world we see everyone around their phones, laptops and other electronic
devices. This world of Social Media is high on demand, just like a drug. Likewise, is
the demand of E-commerce. Past trends show a boost in online shopping. The craze
of new clothes and items have led this youth to be highly reliable on such websites.
THE RISING IMPORTANCE OF E-COMMERCE FOR ONLINE SUCCESS
The buying & selling of goods and services became convenient with the onset of such
ecommerce website. The 24 / 7 availability of products make people more attached to
online shopping. People can buy goods anywhere from the world by just searching
the names of the items. The rapid growth of ecommerce encourages thousands of
entrepreneurs to start their new venture. The importance of e-commerce is growing as more and more customers are switching towards online shopping than the traditional form of shopping.
ADVANTAGES OF E-COMMERCE
Global Reach: Businesses can sell their goods & services to people living
anywhere in the world, this expands the customers base for such businesses.
Low Cost: Customers can get quality products at affordable prices. The no.of
increase of ecommerce websites satisfies the large no of needs.
Target Audience: Through ecommerce businessmen can easily target the
audience who are interested in their products or who are looking for such
products. Likewise, customers can know about the businesses & their products.
DISADVANTAGES OF E-COMMERCE
Lack of Trust: The increase of ecommerce also led to increase of cyber crime ,
fraud etc. trusting websites and their products became difficult.
Delay shipping & Delivery: As the traffic for such ecommerce websites is
growing the delay of products comes in hand. Customers face difficulty in ordering &
returning processes which make these websites difficult to access.
High Competition: The rise of websites leads to rise of competition. Each &
Every business person is competing from one another to make their product look
more valuable than others.
SOME FAMOUS E-COMMERCE WEBSITES:
AMAZON: The fastest growing network of Amazon has attracted thousands of
customers. Amazon became a trustable website of its latest collection. Past trends
show that Amazon has become a global tech giant, by earning a massive revenue
worth ($638 by 2024 approx.).Electronic, Décor items, Clothing& Jewelry are some
best selling items on Amazon.
Myntra: India’s largest fashion & lifestyle retailer, brand offers a variety of products
from different sellers to no of customers(users) under one platform Myntra. Myntra
new collection, sales attract thousands of customers. Latest collection, modern wear,
ethnic collection is what draws users attention. Myntra aims at providing hassle free &
qualified products to its users.
IMPACT OF E-COMMERCE
E-commerce has impacted businesses and customers at global level, offering services
like(24/7 availability, price comparison, home delivery), and connecting tech win form
of payments & transactions. AI with E-Commerce brings drastic changes as Ai bots
are helping the customers solving their problems and making these website more
convertible and giving boost .
FUTURE OF E-COMMERCE
The future of ecommerce is related to advancement in AI technologies, by bringing
new changes in websites and by using AR/VR. The main significance of AI with
ecommerce not only brings growth , it will further lower the problem of delays in
shipping & delivery ,will tackle extreme conditions of website arrangement and will
ease the process of future online payments. Therefore, Understanding the Importance of E-Commerce is important for businesses and modern world
E-COMMERCE COMPANIES IN INDIA:
As buying & selling of goods &
services became a prominent part of our lives there are some Indian companies
contributing in the India GDP growth. Those companies are:
Flipkart: India’s homegrown Company that covers vast range of categories from
Home décor to basic essential items like(shoes, clothes, kitchen utensils and many
more).It’s quick delivering facility ,variety of options for different products and easy
process of ordering place this company in top searches.
Nykaa: A brand known for its beauty essentials . Nykaa built its marketplace by
supporting small vendors and bringing a huge variety of makeup , beauty essentials
to customers. The past trends show Nykaa boosted to around 25% which further
makes this company grow.
E-COMMERCE COMPANIES IN DELHI:
Snapdeal: A well known company with its head quarters in Delhi known for its
electronical, fashionable products. There are around 150 million products divided
under 750 categories.
GoKwik: Indian ecommerce website startup known for its tech innovative, AI
driven solutions and basically for its checkout and payment optimization. It is a D2C
business type website which deals directly with customers.
HOW TO MAKE E-COMMERCE WEBSITE:
Research & Plan: Decide the type of audience you are targeting , the type of
products you want to sell , your business model and platform through which a
website will be built.
Choose a Domain Name: Choose a Domain name that suits your website
or that relates to your website that can draw users attention.
Choose a design: Use predefined templates or create a new template
according to the requirements of your website.
Create pages to be reflected in the website: Make pages where you
want to show information about your company or where you want to reflect your
products .Create pages like Contact Us, About Us, Our Products, Our Services and
many more according to your requirements.
Set up Payment & Shipping: Set up payment method and shipping facility
by including different methods of payments like(COD, Debit Card, UPI) also set
shipping facilities by targeting the huge market areas and local places. Also set up
information forms to be filled by the customers for easy process of both payment and
shipping.