Why is eCommerce Important?
Undoubtedly, eCommerce is fast becoming the trend of the global economy.
Ecommerce or electronic commerce emerged as the untapped marketplace for businesses worldwide. Despite the industry’s young age which started during mid 90s, it has attracted thousands of consumers and entrepreneurs from across the globe. For one, eCommerce is a convenient way of conducting business transactions.
With the annual growth not less than 25 percent, eCommerce is now considered as the new and the future marketplace. Business names like Yahoo, Dell and eBay are just several of the millions of companies that ironed way to success through eCommerce. Thanks to the wide accessibility of Internet, this industry continues to grow by leaps and bounds. So does the companies that belong in the industry.
Although most of us are stakeholders of this modern trade, not everyone knows the importance of eCommerce. Here’s what make eCommerce important in today’s economy.
1. TIME
In today’s commercial market, time has become a necessity. It plays an essential role in both the consumers and the business. For consumers, faster transactions are preferential especially with the kind of lifestyle we have. On the other hand, businesses gain more profit with eCommerce since it significantly reduces the time needed to complete a transaction. Just imagine the amount of time you save with eCommerce. With just a single click through a web browser, you can place and complete an order. More transactions means more profits, similarly shorter transaction time means more time for work and family.
2. COST EFFICIENCY
Compared with traditional commerce, eCommerce significantly costs less for both the entrepreneur and the consumers. Ecommerce cuts the number of parties involved in a business deal. This means less cost for the product as the number of charges is also reduced. For example, Dell now sells its products online thereby cutting the need to pay third parties. Prices of their products are comparably lower when sold by the company.
3. CONNECTIVITY
Ecommerce packs in the whole global community under one roof. If you’re a company manager or an entrepreneur, imagine doubling the number of potential clients that visit your store. With eCommerce, businesses can actually increase their visibility through increased connectivity with customers. Use of eCommerce tools such as those offered at BigCommerce can make a huge difference in your business. Increase your revenue by availing of the tools and services offered by experts at BigCommerce.
4. OPPORTUNITIES
Through the years, eCommerce has opened up opportunities for new investors and companies. Because of its huge marketplace that traverses geographical bounds, eCommerce has provided new industries, opened up jobs and increased economic potentials of individuals. The boom of eCommerce gave birth to industries such as internet facilities, apps technologies, business plans and electronic securities, to name some.
Ecommerce is an important part of the global economy. Aside from its mentioned importance, eCommerce has undoubtedly boosted the global market. With the current trend and increasing importance of this industry, eCommerce is expected to stay on top of the ever changing global economy.