Shopping has never been as exciting as it is today. Whether a consumer is looking to buy a toothbrush, a pair of pants, or a smartphone, it’s only a few clicks away. As more people turn to online shopping, the opportunities for sellers to make a profit keep growing.
Also known as online trading, e-commerce involves the digital transaction of buying and selling products through the world wide web. Once the goods are sold and payments verified, it will then be packed and shipped to the customer’s address. Everything is done online, from browsing to purchasing to payment.
In the world of e-commerce, there are many ways for buyers and sellers to purchase and sell goods from the comfort of home. Products can be bought or sold on large marketplaces like Amazon or Lazada, standalone webstores, or social media platforms. There are also growing numbers of shipping partners and multiple ways of making payment online.
How does e-commerce work
When a user makes a purchase, the seller receives the order and the payment, arranges for the item to be delivered, and the buyer receives the product within a period of time. And that is, essentially, what e-commerce is all about.
Everything on e-commerce happens online, except for fulfillment and shipping. From browsing products to making a purchase, the end-user experience has become incredibly simple. And more exciting, too.
There are also many ways for a buyer to make payment, whether through bank transfer, debit or credit card, or online bank payment. This ease of transaction in e-commerce has made a huge difference for both buyers and sellers.
Not only that, but there are also a lot of fulfillment and shipping service providers for sellers to choose from. This last-mile delivery portion of e-commerce can often make or break an online business, so it’s worth putting in more time and resources to ensure it runs smoothly.
Choose to be a vendor in a marketplace or run your own branded online store
Being a vendor in a big marketplace like Amazon or Lazada is usually pretty straightforward. Popular marketplaces have a good brand presence, ready customers, and a strong level of trust among consumers.
Though the downside is that you’ll be competing with a lot of other similar vendors and products. You’ll also have little control over your store and will be subjected to a long list of terms and conditions set by the marketplace. And let’s not forget – they also take a commission cut for every item that you sell.
On the other hand, standalone branded stores give you much more control and customizable features. You’ll get to build your own brand, loyal customers, and attain a much better profit margin.
If you’re looking to build an online store from scratch, you might need to hire a web developer and designer that may cost a lot of money. Luckily, there are also other cost-effective ways to create your own online store.
You can choose among the many different e-commerce tech solutions out there, like AVANA. As a social commerce service provider, AVANA has features and solutions that allow you to set up a customizable webstore without any tech knowledge.
It can easily sync to your Facebook page to sell on social media and can seamlessly integrate with useful functions like email marketing, order and shipment tracking, and customer service.
With solutions like AVANA, it helps to make the process of selling a lot more accessible and easier. Many complex and time-consuming tasks can be automated through the platform, while you get to focus on important parts of your online retail business.
Decline of traditional retail and growth of online shopping and social commerce
There’s no doubt that most people still do their shopping at physical stores, shops, and malls. But recent years have seen the numbers slowing down, largely due to a shift in buying habits from offline to online.
Currently, only about 1% of Southeast Asian consumers do their shopping online. It may seem like a small amount but bear in mind there are over 500 million people living in this region. A recent report has stated that the e-commerce market in Southeast Asia will increase by 8 times by 2025.
Billions are spent annually on online shopping through large marketplaces and standalone online stores. At the same time, more people are moving towards social media to shop. This growth in social commerce is what makes AVANA a great partner for all types of online sellers, be it those who run webstores, sell on social media, or both.Tags: ads, businesstips, E-commerce, ecommerce, ecommerce platform, ecommercebusiness, facebook ads, how to run promotion, marketing, online platform, online seller, onlinebusinesstips, onlineselling, onlinestore, sell on facebook, tips
Categorised in: Business
This post was written by Nina