How has e-Commerce transformed business?

In the digital age, e-commerce has shown that businesses can operate around the clock, provide new product information, and market their services to a diverse demographic. This shift is a vast improvement from selling goods in a physical location, with limited hours of operation. Through social media, blogging, expertly designed webpages, and search engine optimization (SEO), more and more businesses are growing their brands like never before.

Read on to see how the e-commerce has transformed business over the recent years.

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‍E-commerce stores are always open.

Shopping for both customer and businesses have transformed over the years. Thanks to the sheer accessibility of eCommerce - eCommerce stores are always open. Customers are able to buy almost anything at anytime, anywhere,and through various devices. According to consumers. This is seen as a fundamental aspect of the online shopping experience, according to today's consumers. Therefore, businesses must be able to provide a seamless eCommerce experience. Along with the ability to fulfill purchases fast in order to meet customers shopping expectation. This process can be aided by a sophisticated order management software, built into eCommerce platforms such as Marketcube.io. It can also be configured to extend the accessibility of eCommerce into physical stores.

Ecommerce has increased competition.

Any business of any size can succeed and scale online. The open, extensive, and endlessly competitive landscape of eCommerce is great for consumers. With 80% of whom are more likely to shop where there is a seamless and connected digital shopping experiences. There are many tools and platforms readily available to help businesses succeed in eCommerce. It is also easier than ever for brands to outsource eCommerce infrastructure to an outside provider, eliminating the need to develop costly and inflexible in-house solutions.

Ecommerce data drives business decisions.

Ecommerce provides customer data and insights for businesses, which can drive impactful marketing and product development decisions. A well-structured eCommerce platform will already have the essential capabilities to automatically collect data from shoppers, allowing businesses to get a better understanding of their customers.

With the combination of consumer insights and the power of artificial intelligence, brands can personalise and exceed customer expectations. Most consumers consider this a fair trade, as 82% of shoppers are happy to share relevant personal information in exchange for the seamless connection of their in-person/online shopping experiences.

Retail stores now connect to eCommerce stores.

For retail businesses with a physical location, seamless integration between both the physical and digital inventory is essential. When it comes to a physical store, there is technically only so much inventory the store can actually stock. When sales associates are empowered by a robust eCommerce platform to access digital inventory in real time, they can recover customers’ interest before losing a sale, and set up flexible shipping and returns. The majority of shoppers, 71% according to reports, now even browse on their phones while in stores, comparing prices and reading reviews to find the best value. 

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It is unlikely that physical retail will ever be fully eclipsed by eCommerce — but the lines between the two are now blurring, and their roles are shifting. In a reversal of previous tradition, many brands now find success online before ever opening physical retail locations or pop-up shops.

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