The Social Impact of e-Commerce On Society Pros and Cons

This includes deciding whether you want to be a retailer or a supplier and whether you want to sell products directly to consumers or through distributors. With more and more sites now optimized for mobile use, make sure that not only your website, but your online store is optimized for mobile devices as well. By doing this, you’re making ecommerce simpler and more accessible for a larger audience. Customers consider shipping times to be one of the worst ecommerce disadvantages. When a customer shops in person, she can take the product home right away. But, with online shopping, most customers receive their products in a week or more.

What are the 10 benefits of e-business?

• Low costs. A significant advantage of ecommerce is that launching an online store is much less costly than opening a physical store.
• Speed & Flexibility.
• Faster Buying Process.
• Product Catalogue.
• Wider Customer Base.
• Customer Data Insights.
• Scalability.
• Reviews & Ratings.

Chatbots are available 24/7, day and night, to provide any answers and solutions a potential customer may inquire about. Having this automated communication can be valuable for businesses as it frees up employees to focus on other business operations, efficiently communicates with customers, and may even propose products and services. 

You will be hard-pressed to find a successful business that does not have at least one aspect of their business operations posted on the cloud. Managing and processing data in the cloud is essential for the instant access of data by anyone who needs it, on any device. Especially for e-commerce businesses, a cloud ERP can improve delivery speeds, make your store more adaptable, and bring about business stability and growth. With increased workload and home commitments, it gets really hard for people to reach out to their favourite stores just to fetch their favourite products when they can buy it by just a tap of their fingers!

Video Clip 16.6 How SSL Security Works on E-Commerce Websites.

They may also need to hire security staff depending on the product value in the store. If you were ever worried that B2B would go out of style, fear not. Global retail ecommerce sales for B2B are expected to reach $1.1 trillion in 2021, according to data from Statista.

What is e-commerce transformation?

Simply put, eCommerce digital transformation is a process of utilizing digital technologies to develop new—or improve current—business processes in order to satisfy changing business and market requirements as well as uplevel customer experience.

Technology and people are always evolving, and since ecommerce brings it all together, we are always going to be looking toward the future. One thing is for sure, is that it's never too late to jump right in, learn something new, and evaluate if it's right for your business. 

For now, consumers are in the driver's seats and ecommerce businesses will be customizing the journey ahead for them. Buyers of all sorts — including B2C and B2B — are looking for personalized, custom shopping experiences online. The data collected from AI is what makes it possible for a buyer to get personalized product recommendations and detailed customer service. Augmented reality has been a complete game changer for ecommerce.