Top 5 reasons why e-commerce is vital for contemporary business.
In the emerging global economy, ecommerce has increasingly become an important component of business strategy. Moreover it is India’s fastest developing and most powerful channel for commercial transactions. While many industries and province have struggled throughout within the year 2021 , e-commerce has seen a highly successful 2021. Its growth has been massive and is about to continue well into 2022. E-commerce market is predicted to grow to US$ 111.40 billion by 2025 from US$ 46.2 billion as of 2020. This growth has been triggered by increasing internet and Smartphone penetration.
E-commerce market is predicted to grow to US$ 111.40 billion by 2025 from US$ 46.2 billion as of 2020. This growth has been triggered by increasing internet and Smartphone penetration.
The ongoing digital transformation within the country is predicted to increase India’s total internet user from 560.01 million to 829 million by end of this year. India’s internet economy is predicted to double from US$125 billion as of April 2017 to US$ 250 billion by 2020, majorly backed by ecommerce.
Source (https://www.ibef.org/)
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1) Wide platform:
E-commerce brings all round of consumers across the state. Furthermore, it allows you to sell to customers without any limitations. Now this, depends on how far you’re willing to ship a product, but the chance is there. Therefore, it's a wise option to choose an e-commerce platform to grow your business.
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2) Lesser cost:
An e-commerce store will have lower business expenses than a store. You won’t have the overhead cost of land and plus costs of maintaining a physical location. In addition, a small e-commerce store could be managed by a single person.
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3) Easy setup:
The fixing cost of e-commerce business is extremely low as compared to fixing of a physical shop. With few amount you can easily build websites. Moreover, it is easier to take license for digital store than a physical shop.
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4) Better Marketing Opportunities:
Your eCommerce site is the best digital marketing tool that you simply would ever have. Anyone can market their products/blog through social media marketing( Instagram, YouTube, Snapchat, LinkedIn, Twitter), pay per click ads, email marketing, and SEO.
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5) Customer Analytics:
The power of customer analytics can help you to clarify everything from the products you offer to the marketing strategy you employ for those products. You might be able to gather some customer information in a physical store, but it would be time consuming. With e-commerce, all you would like to try to to is drop a bit of code into your HTML markup and therefore the rest happens automatically.
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