Over the past few years, a lot has changed in the business world. Many things have varied radically, as have payment methods. If you were to ask a person 35 years ago how to pay for groceries, the answer would be with cash. But, ask the same question nowadays, you would get many different answers: cash, credit or debit, apple pay, etc.
The business world has changed, and technology is the main reason for it. Nowadays, we have many resources that we did not use to have. With computers, smartphones, and tablets, we can manage our finances, control our expenses, and buy things online. Everything is easier, but, in some cases, it’s more complex. Many people might not understand the process.
As with everything, you have advantages and disadvantages, and in this article, we will discuss both of them regarding the E-Commerce business.
E-Commerce Advantages
As expressed above, there are many advantages to the business world we live in. There are shortcuts we did not have before that save us a lot of time. Not so long ago, we would have to go to the bank for every little thing we needed to do. Now, you can do almost everything from your phone.
Today, many businesses have switched from a physical store to E-Commerce, where they can reach a broader public without needing a physical space. Not having a store on the streets means not paying rent and not dealing with the bills you usually pay, like electricity, water, and more. Not having a store means that you do not need to have people working in it. Having the ability to run a business digitally made it possible for many people to own a business.
E-Commerce made it possible for many businesses to expand their customer base. They’ve managed to reach more people than they would have with a regular store.
Time-consuming activities can be beneficial sometimes, as these make you move from your home. But, what if it is raining outside or you don’t have time? Well, in that case, E-Commerce can be your ally. Many people that work for long hours and don’t have time to go to the store can go into their phones and buy whatever they need.
Nowadays, people use it for groceries; you could be in your office, buy everything you need during your lunch break, and pick them up on the way home.
People now are interested in ordering things easily and fairly quickly. Spending a whole day at the mall is not an everyday activity anymore and for some now inconvenient. So having the ability to buy whatever you want from your phone is a huge advantage. People even tend to buy more if they don’t have to move.
Furthermore, stores can sell more items without worrying about storage since they can sell books, music, and other digital products. Storage is a big issue since it is expensive, so you would be paying for something that already made you lose money. This is not an issue for those stores that have become online. This results in better prices for the consumer, for there are fewer production costs for the seller.
In many ways, E-Commerce has advantages for both consumers and business people. That is why it is always a good idea to consider setting up a business as an E-Commerce. However, it has its downfalls too.
E-Commerce Disadvantages
Many people would argue that they would instead go to the store and see the product with their own eyes and ask the person who works there about their concerns. And, indeed, we might not be sure about a product since we cannot see it. Quite often, you can find yourself wondering whether to buy or not a product.
You might have questions, and the only way to answer them is to send a message or go to the Q&A to see if you find what you are looking for. If you don’t care about it, it’s good for you, but some people prefer to see the product and interact with the salesman.
Another issue with E-Commerce is that people might be afraid of card fraud. With new systems, people usually find a way to cheat it; that’s what hackers do. Writing down your personal banking information into a computer might have an additional risk than paying in a store. And this is not a senseless concern.
It has happened and probably will happen again. Hackers are all over the internet, and many people feel unsafe when putting their personal information online. Looking at the quality of the website and making sure it is secure are things to look out for and be aware of when stumbling across a site. This is a significant problem for E-Commerce businesses since it creates a trust issue.
Some would argue that there is no better feeling (when shopping) than leaving the store with a box or bag, and it being very disappointing to leave the store empty-handed. Well, when you shop online, you always leave the webpage empty-handed.
People usually pay extra to have the product as soon as possible. Buying a new video game or new shoes and receiving it three or four days later can be too much for many or just not fast enough. How often do you decide to buy a pair of shoes and leave the store with these on and the old ones in the box? It seems like that could be an issue if you buy it online and can’t even try them on for days.
Finally, opening an E-Commerce is not as easy as opening a blog online. There are many regulations and tax issues that you have to handle. Legal issues are important, and despite the store being on the internet, you cannot do whatever you want. You need to follow the rules. This might not be the worst issue since if you do business in a physical store, you would have to do the same, but many people think it’s easier when it might even be more challenging in reality.
Conclusion
As you now know, E-Commerce is excellent and not so great in different aspects, but you know what you want in the end. You might not care about the instant gratification the store gives you, or maybe the possibility of fraud might be too much, so the decision is on you. E-Commerce can be the future of shopping, and this is the case for many brands.
As you may know, Amazon and Apple are the most prominent companies worldwide, and they are based on the internet, so they are doing something right…