Discover The Super Power Of E-CommerceHexRowAdminLogin
Are you looking to take your business online? Discover why you should have an online store in the present age?
We present you with questions and its answers based on proven methods. It’s here, we present all the details needed to take your brand online.
What is an E-Commerce store or an Online store? Are both of them the same?
Yes, this question has been going on for years and yes here we assure that both of these terms are the same. An online store is a place where you go and shop your required items/window shop items based on your convenience by sitting in your home. Online shopping is generally an electronic space where you don’t get to feel the products/services that you see and all of them are virtual. The products displayed can be in the form of photos, animations, gifs, or videos. The online store can have a wide range of products and services and it also offers a wide range of benefits for the retailers and the people who shop.
The main intention of the online store is to buy and sell goods or services through computer networks and the internet. In this era, the e-Commerce has become a major part of any business to reach their consumers.
According to data analytics, 65% of people are shopping goods online from the comfort of tier home and this percentage is increasing constantly. People are moving more towards the online business from the regular brick and mortar stores.
By looking into the trends we can definitely say that the Online store business is expanding at a tremendous rate.
E-Commerce has totally revolutionized the way in which the companies do their business. Now a customer can buy a desired product at any time of the day 24*7, 365 days a year.
What are the benefits of having an E-Commerce store for a seller or a brand?
- The seller can directly save on the inventory costs. With E-Commerce, the seller can decrease the cost of managing their inventory through the E-Commerce software. No extra headache to take the stock and the selling items.
- The sellers get an insight into the busying habits of the customer so that they can improve the ongoing relationship with them and build a long-lasting relationship with the customer.
- When compared to managing n running a physical store or opening a new physical store setting up an E-commerce store is an easy affair. Setup cost is extremely low.
- The number of licenses and the permits that are required to start an E-commerce is less compared to the traditional model stores
- You need only a limited number of employees to look after the E-commerce business compared to the traditional model.
- In the online space, the customer always has the option to comment, put an image or give a rating for the item they have purchased and can give testimonials also. This helps the new customers to find the products in a more effective way.
- There is no geographical limitation to the products that you are selling. If you can store at different places and if you are able to manage the logistics(on your own or in partnership with other logistics companies) then the whole world is your customer place. The only factor there is how well you sell the item to them.
- Your Online store never sleeps its open 24*7*365. The customers can place orders and purchase at any time, there is no limitation.
- The E-Commerce is a lot more economical than the physical store if you take the infrastructure, insurance, etc into consideration.
- As your products are available online you need not spend extra money to make the products, descriptions, or price details available to the desired user again.
- The most important factor is that the travel of both the seller to the store and the customer to the store is eliminated.
- Once the E-Commerce store is set up the offer or the promotions that you give on the website are visible to the whole people on the internet without any limitation.
- The payment is directly credited to your bank account and there is no need for settling it with the bank or going to the bank and then depositing the per day collections.
- There is always an option for a multi-site that is the ability to provide co-branded websites for specific customers and cross-selling the products or services.
- The yesteryear models or low selling designs or stocks can be very well sold through the online space by giving offers.
And for the customers, they can shop their desired item based on their easiness and convenience. They can opt in to buy the item at any time of the day or night. Another main reason that it is quick, convenient, and user ability to pay for the item they think they want. Customers can also compare and shop the items, which is not possible in the case of a physical shop as the number of brands in the shop will be limited.
In which all businesses can I set up an Online store or is it specific to some business?
You can sell anything through E-Commerce whether it be a product or a service. Products are of these kinds like where you have your own product and you are the producer or the manufacturer, whereas there is one more scenario where you have a supermarket kind of structure where you pool in the manufactured goods or raw goods like vegetables from different vendors and you sell it in your name.
The services can be of anything like plumbing, hair cutting, gardening etc, and anything that you can think of. The E-Commerce connects you to the customer in a concrete way.
How many people can I reach through my E-Commerce Store?
If you ask us this question then our answer is your imagination is your reach. If you think you will be able to reach the customers in the far end of the earth then you can. It depends on how safely and how quickly you are able to send your goods to the customer.
Of course, you can very well reach the whole city or state where you are living in or maybe in the whole country where you live in and if you get the proper licenses to sell in the next country you can very well promote your business o in any country. Consider you run a small shop in your city and the number of people reaching your store daily are in the range of 200 to 800 people average. If you are taking the same store to an online space the number of people visiting your store on the internet can vary in millions depending on the product and service you choose to sell online.
What do we mean by an online presence?
Most of the people ask us the doubt that what do people ask if your store is online or if it has an online presence.
They simply mean that they should be reachable to you on the internet and you have a basic E-Commerce store setup and also you have connected social media and search content that you build along with it for the promotions and awareness.
What should be the size of my business to launch an online store?
Will the customer pay to me as liquid cash when they purchase an item from me?
How many products / services can I sell online?
There are no limits to the number of products /services that you can sell online. It depends on how well you can manage your inventory, the logistics, and the customers. The only thing that you have to keep in mind is that the server in which you are hosting your online store should be able to cater to the requirements of the customers.
How can I know that a customer purchased a product?
There are various methods by which you can know that a particular product has been purchased by the customer, the various options can be through email, SMS and through desktop alerts which all can be set from the E-commerce application. The system also gives you a dashboard that is a complete view of what all there in stock, how many are sold, what all are the items sold, the value of the items sold, the payment methods, the tax amount, and the shipping status.
In a physical store I put up boards/hoardings/posters to attract clients, so in the online space is there any way to reach the existing/ new customers with offers and promotions?
What are the different types of E-Commerce Business models available?
Broadly the E-commerce business is divided into three models based on the type of participation that is involved in it
The main types are:
Business to Business (B2B)
B2B is when you are selling your products/services to other businesses. For example the office equipment sales. Normally these businesses buy in bulk and they are to be given per piece discounted rate.
Business to Consumer(B2C)
In this model, you are selling the items directly to a customer who comes to buy products/services. These can range from automobiles to daily use items in our home. You are selling items that are useful to the general public or items that the common people go out to buy from a store near them or from a branded store or a supermarket near them.
Is the business through online scalable or should I go and build application each time I scale up?
Will the E-Commerce help to broaden my brand?
Too old to learn and sell online, technology too far for me, What should I do?
If I am going for the B2C model, are there any brokers, wholesale distributors coming in between me and the customer?
Should I keep my own staff to deliver the products or is there any other way?
Are there any companies that can guide me from start by talking to me helping me to select a technology to getting me to reach the first customer? Can there be people who travel with me for the whole journey?
Yes, definitely there are only a few companies doing so. We at HEXROW can help you from any stage to go online. Whether you are new to the business/getting your physical store to the business/ your service to the online space – we can help you. Right from sharing the knowledge base of how and what to do online, to selecting the right technology, building the online application, taking the hosting, integrating payment systems, integrating to your bank, integrating to logistics, training your team, teaching the tips and tricks to increase online sales and be with you for any show stoppers that you come across. We will be aside you with our state of art support facilities to make your business profitable.
So no need to worry about the technology space we will teach you what is what, and how is all done, and what for it is done?
What are you waiting for, exploit the opportunities.