In this era of digitalization, where competition increases every second, entrepreneurs are in search of a new path for being the 1st among all the competitors.
Nowadays the best path of surviving in this era is to open an online store. According to a survey online sales reaches about 13% in 2019, the e-commerce platform is one of the best ways for entrepreneurs to expand their boundaries globally.
In the world of digitalization, e-commerce sets the best examples for the transformation of the business from traditional to digital in front of us.
Searching products on mobile is way easier than browsing in the stores and streets. Running an online store is more productive and there is less capital investment than the physical store.
The online presence of a business is one of the communication medium between the consumer and the vendor.
Setting up an e-commerce store is requires planning, understanding the technical requirements, and developing the marketing strategy.
The two most important factors encourage entrepreneurs to transform their business at an e-commerce platform :
1) Round the clock working:
The best part of selling your product on an e-commerce platform is that your consumer can buy their favorite product at their convenient time from any place. In 2019, it’s estimated there are 1.92 billion digital buyers, and E-commerce sales account for 14.1% of retail purchases worldwide. It is expected that in 2023, E-commerce retail purchases will rise from 14.1% to 22%.
2) Easy global reach:
An E-commerce platform gives you the ability to sell your product globally. Your brand can touch the global boundaries by selling your product via the website. Each time it’s not possible for the consumer to come across the different places to purchase the product from the particular store which is in only some places. In that situation, the e-commerce website helps you and your consumer.
As per the survey, e-commerce sales accounted for 14.1% of all retail sales worldwide in 2019.
It is expected by 2021, e-commerce sales will reach 17.5% of retail sales worldwide.
Not only for being first among the competitors but also for be part of the competition e-commerce platform mandatory.
Also, check our recent blog on Importance of Augmented Reality in Jewelry Business.
Made in India