This is why E-Commerce is so famous!

  • By CodeEpsilon
  • November 26, 2021
e-commerce
1
Share

E-Commerce is a marketplace in which goods and services are sold online through the internet. E-Commerce operates on 4 market segments. On E-Commerce, you can sell any tangible goods and services without any limitation of quantity. E-Commerce has changed the consumer perspective of buying goods. E-Commerce has numerous products to offer starting from a small needle to big aviation parts. Every tangible goods and service can be found on E-Commerce.

What is E-Commerce?

As discussed above E-Commerce is a marketplace to sell tangible goods and services online through internet means. There are 3 parties involved in E-Commerce buyer, seller, and provider. What’s a provider?

The provider is the medium between the seller and buyer. The provider has developed a platform in which an environment is created for buying and selling tangible goods and services. The provider ensures that the transaction and delivery of goods are done in a proper manner or not. 

E-Commerce has helped many businesses achieve new heights in their profits. If you develop an E-Commerce website then your market is not just limited to one locality, the whole world is your market. Through E-Commerce, you can sell around the clock without having any physical presence.

“E-Commerce is like developing branches all over the world without having any physical structure or presence”.

-ATS

Which are the 4 segments of the E-Commerce Market.

  1. Business to Business (B2B): In this segments goods and services are sold from business to business. In this market segment generally, big businesses sell to small businesses at a wholesale rate. This market segment is known as a wholesale market.
  2. Business to Consumer (B2C): In this segment goods and services are sold from business to consumer. In this market segment, every business sold its goods and services to customers at a retail rate. This market segment is known as the retail market.
  3. Consumer to Consumer (C2C): In this segment, every consumer is a seller or buyer. In this market segment generally, second-hand goods are sold. There are many platforms for buying and selling goods like eBay, old, quicker, right now you can even sell second-hand cars and many different things.
  4. Consumer to Business (C2B): In this segment, there are individual sellers selling their products to big businesses. This market segment is a popular place for artists and individual creators to sell their art.

All of these market segments are benefited because of e-commerce. Because of e-commerce, many small-scale sellers are achieving new heights in their business. In E-Commerce generally businessman uses an Omni-Channel market model. But wait what’s that?

omni channel market model

What is the Omni-Channel market model?

In this type of market model businessman offers more than three channels of products to their customers. In the Omni-Channel market, businessmen are not limited to selling a specific type of good they offer different types of goods. The main benefit of the Omni-Channel market is that you can pitch them a variety of different things. For example, if a customer has added something in cart so you can also suggest different products that you offer. This benefits in coverage of your market.

According to a study of Harvard Business Review, 46,000 shopkeepers show that the Omni-Channel market model is a successful market model. It also reveals that people are more influenced to buy a variety of things instead of buying only one product. This model also boosts customer loyalty because they can get everything at one place only.

Purchase frequency is 250% higher on omnichannel vs. single-channel and the average order value is 13% more per order on omnichannel vs. single channel.

Source from: Omnisend

Summary

E-Commerce is Beneficial to your business in numerous ways. Here at CodeEpsilon, we are Experts in developing E-Commerce mobile applications, web applications, and many more. We offer a variety of E-Commerce functionalities according to your business requirements. Comment down your choices of products which you want to develop an E-Commerce platform. For a detailed discussion on your E-Commerce business idea Contact us.

Related Post

How much does it cost to build an E-Commerce app like Amazon?

ShareIf you are fascinated by an eCommerce app like Amazon, then this blog is for you. In recent years we can see that e-commerce apps like Amazon have replaced the physical market. People are more influenced by online purchasing and selling. Apps like Amazon keep users engaged and it is a very profitable market. The […]

  • By CodeEpsilon
  • February 25, 2022

How to build marketplace app from scratch

ShareMobile app development is trending and constantly evolving. Marketplace applications are trending right now due to the introduction of NFTs and cryptocurrencies. The main benefit of developing marketplace apps is profit as you can see tech giant industries like Amazon, Aliexpress, and Airbnb, have at least one marketplace app and those apps are gaining massive […]

  • By CodeEpsilon
  • February 23, 2022

Top 10 best E-Commerce platforms for startups.

ShareE-Commerce platforms are the perfect solution for small business owners to set up their online store. An online E-Commerce platform increases your business reach beyond your offline geo-location. Provides your loyal customers with a convenient shopping experience from the comfort of their homes and promotes global exposure for your store. Developing an E-Commerce website might […]

  • By CodeEpsilon
  • January 26, 2022

Tag Cloud

    Leave a comment

    The future belongs to those who believe in the beauty of their dreams.

    Explore Portfolio
    Engage with an Experienced Professional Team

    For all Enterprise Consulting and Development Needs

    Contact Close

    Get In Touch

    For a free consultation and decide if we are the best team for you.

    Contact Now