E-commerce refers to the trade conducted by interactive and computer-assisted media. The Internet is often used as a platform which is why alternatives such as teleshopping are not part of e-commerce. Our team at FiWDC is expert in e-commerce development company in Delhi, India.
Experts are even talking about M-commerce which characterizes the trade via mobile devices such as smartphones. In addition, a distinction can be drawn between B2B e-commerce, i.e. trade between individual companies and B2C e-commerce. The latter relates to trade relations between enterprises and private customers. It is true that B2B e-commerce makes up the vast majority of transactions but trade between businesses and private consumers is in the wider public interest.
Internet and digitization have changed the world over the past 20 years more than any other technology. This is also true and especially for the retail trade. The present study is a stock of e-commerce supplemented by a forecast to five years. It is clear that the share of e-commerce at the overall retail sales are likely to grow to 10% or more by 2018. This challenge must be addressed in particular by the stationary medium-sized retail trade. The sales growth in e-commerce is also opening up smaller one's Traders. Suitable strategies and concepts are used in the third part of the study using concrete practical examples. The present study helps small and medium-sized traders find their own independent future strategy.
In the future, retailers will have to deal with the topic of the internet and online commerce. In doing so, very fundamental strategic questions are touched but there is no universal patent for the choice of the "right" e-commerce strategy. The starting point must be the individual situation of the dealer. Each retailer must be responsible for deciding how to deal with e-commerce because he knows his products, its customers, and the competition situation. Such a decision requires a solid foundation for information. The analysis also includes a quantitative outlook on the indian market development.
Development of e-commerce:
E-commerce began in 1995 when the Internet was officially commercialized. From this point onwards various companies were founded. Most of them, however, did not manage to stay on the ground. However, there are also medium-sized companies.
The independent online reseller is launching numerous discount and offer campaigns which are a central means of customer acquisition, especially in e-commerce. The social channels also play a decisive role here. Shopping with a mouse click is booming and not only since the smartphones are everywhere. About half of all citizens aged between 14 and 64 are buying over the Internet.
However, the positive development of the smartphone has also given ecommerce a boost. People are always networked and can also spontaneously go shopping from their mobile phones. This is beneficial not only for the online retailers but also by those shops selling the actual smartphones. This is also one of the reasons why SMEs are making such big sales. One aspect that drives many customers to trust an online store is the ratings of other buyers.
Shop reviews on platforms provide customers with the conditions and experiences they have made with their respective mailboxes. According to the ratings, companies are finally given different seals, such as "standard", "bronze", "silver" or "gold". Negative customer reviews can have a significant impact on the success of an online store. Since people do not see the product themselves or have any information about the credibility and reliability of the mail-order company, they are glad to refer to this information.
Online stores displace retail
In 2014 the online shop dominated especially with the sale of books, computer accessories, vouchers and telecommunications. In these areas, internet buying was significantly counteracted by the retail sector. Nevertheless, there are still domains of retail, such as furniture and decorative items, or home improvement. When buying toys and clothing, both areas benefit equally. In today's economy, the importance of online shopping is no longer as great as that of retail.
The success recipe in e-commerce
In order to establish itself permanently as an online retailer in the indian market economy, it needs some prerequisites. As a result, smaller companies can also take advantage of certain things. For example, a good connection between on- and off-line trade and an attractive and clear homepage. Many retailers have already recognized that they can only remain competitive through online trading and therefore also offer their goods on the Internet which is why in the future an increasing intertwining of online and retail trade will be apparent.
CRM and advertising
Customer relationship management (CRM) for customer loyalty - In order to advertise correctly to customers, the online shops have to look after them properly. For this reason, customer relationship management has also strengthened with the advent of e-commerce.
As a result, the shops collect all the necessary information, such as gender, place of residence or age, in order to provide potential buyers with suitable offers. In this way, customer satisfaction increases and the consumer buy another time with this dealer. The more reliable and personalized the offers, the more likely the buyer are enticed to buy. Placed advertising may prevent users from buying. Correspondingly, CRM is an important aspect, which is of ever greater importance and is also expanding with the growth of e-commerce. Our team at FiWDC is very well experienced in CRM and advertising.
Advertising and offers
The online trade reverts to several suitable advertising measures. These are not limited to the Internet. Companies are now pursuing initiatives on several channels, such as television, radio and the Internet. The effectiveness of these measures is undisputed which is why there are now only a few major corporations that are confined to one medium. There is a permanent repression competition on the Internet market which is why advertisements must appeal to all buyers.
If you are serious about to expand your business or if you are just planning to set up a new business, you should contact FiWDC. Our team will guide you thoroughly in order to make a complete e-commerce website which you can use to increase your revenue.
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