Ecommerce websites have been around for a while now, however in the past 18 months due to a worldwide pandemic and fewer face to face dealings, out of necessity they have morphed, become further sophisticated, more fostered, and widely used.
Ecommerce has certainly changed the way businesses and consumers interact and transact online, indeed B2B, B2C, C2B, and C2C types of e-commerce have replaced many of the traditional channels and business styles that were prevalent for 100 years.
The reasons for this are rather simple, reach, safety, convenience, scalability, low initial outlay, and positive cash flow.
Cash Flow Positive Business Model:
Without a doubt, one of the biggest advantages of eCommerce website solutions is that payment transactions are mostly done upfront and at the time of purchase. This means waiting for your customers to take and consume your goods first, or show up, is a thing of the past. Being cash flow positive is perfect, will give you surety that goods and services only leave or are offered if payments are made and cleared, saving valuable resources otherwise rendered to chase bad paying customers, thereby eliminating bad debt.
Ecommerce also allows for various other business models such as subscription models to become attractive. This is where customers agree to pay for selected or surprise packaged goods every month. (Dollar Shaver Club, Red Balloon, and Hello Fresh are great examples)
The biggest advantage for E-commerce websites:
It has been the case for some time now that the biggest advantage of having your e-commerce website is low set-up costs. The set-up costs are extremely low in comparison to bricks and mortar business set-up costs and have even come down in the last 10 years due to online software that can be reused, drag and drop, all under a licence subscription.
The costs for setting up an e-commerce website with the help of a website development company in Liverpool is possibly as much as 80% lower than traditional bricks and mortar business set-up costs.
Examples of E-commerce websites:
There are a variety of Ecommerce websites that exist, each one designed with specific functionality to help a business or brand to either
- Make bookings
- Conduct business services
- Join groups and virtual communities, and much more.
The following are some prime examples of E-commerce websites and online tools that help facilitate a range of business and transactional objectives, and these include:
- Ecommerce Retail and online shopping are where transactions of goods and services are delivered through websites and online stores from business to consumers (B2C). Some categories sold online include, fashion, electronics and media, toys, hobbies, DYI, furniture, appliances, food, personal care, and more.
- Online food ordering websites with either pick up or delivery, including ready-cooked meals, takeaway, food plan subscriptions, even click and collect catering.
- Online auctions include real estate, collectables, alcohol, jewellery, games, coins, and anything valuable and in short supply.
- Mobile and web applications such as games, workplace tools, health apps, music streaming services and more! You might want to connect with the best web design company in Sydney to build a dynamic web and mobile app.
- Online learning platforms where people can pay upfront and then sit to do personal development exams, courses, gain accreditation, get educated. Online learning has boomed in the personal training space.
- Online Wholesale, where a business sells their good to other businesses (B2B) via e-commerce catalogues, makes transactions faster and leads to less handling errors.
- Online Bookings and registrations where people can book a time for both online and in-person appointments and pay a deposit to guarantee their spot.
- Virtual Rooms & Events where customers are required to pre-purchase online goods and packages, to be consumed during a later scheduled live online event. An example is a wine/cheese tasting event where customers that have pre-purchased online are invited to online community events.
- Online Events and Ticketing: where people can get sports and concert tickets, local bands, events and shows, and including seminars and at distance events (rather than going in person)
- Private Labelling and Manufacturing: Where you can pay for and get your photos, business cards, invitations, and even co-branding white labelling all done and paid for upfront online.
These are just some of the many examples of eCommerce websites and ways to do business online.
Is there an eCommerce solution for your business?
Whatever your business type, there could be a way for you to pivot and find a new niche online, either using an eCommerce website or a variety of eCommerce, online tools integrated, and purposely built for your business needs, goals, and objectives.
How to start your eCommerce website journey:
Do some research:
- Look to see what your competitors are doing?
- Identify what other businesses are doing that offer similar goods and services to you.
- What do you offer that can be made available online through automation?
- What do you need to change, implement to go successfully online?
- Speak to a digital marketer, your business coach, somebody with plenty of current knowledge of online marketplaces and local success stories.
- Which is the best web design agency in Liverpool, that can do the job for you!
Lastly, if you have an idea, are unsure, or would like to ask me for some free advice, feel free to drop me a line.