E Commerce

ECommerce, (electronic commerce), is online commerce verses real-world commerce. ECommerce includes retail shopping, banking, stocks and bonds trading, auctions, real estate transactions, airline booking, movie rentals nearly anything you can imagine in the real world. ECommerce uses electronic information technologies on the Internet to allow direct selling and automatic processing of purchases between parties.

ECommerce is an emerging face of the business world.  ECommerce website development is an indispensable part of modern marketing and business strategies. Today there are many ECommerce solution providers or ECommerce development companies in the market that create wide range of ECommerce sites. Besides supporting existing business, it opens up a new market of potential customers.

ECommerce Shopping Cart Features:

Content Management System
Inventory Management
Multi Pricing
Multi Language
All Major International and Indian Credit cards Processed.
Order Management (History & Tracking)
Gift Certificate and Coupon
Banner Management

ECommerce Development benefits you in following ways:

Increase in useful traffic
Higher customer retention or more numbers of returning customers
Higher conversion rates
Reduced operating costs
Increased business revenues and upward pointing ROI graph

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An ECommerce website is more valuable than developing a standard static website because of the security features it may provide to your monetary transactions and that is the reason why, not every ECommerce programmer can design an ECommerce store.

There are a lot of dedicated website development India companies that help you develop a renowned ecommerce website keeping in mind the necessary do’s and do not’s. You may take help of various web development India companies but a dedicated hire ECommerce programmer develops a website in a manner that attracts the clients instead of using the ways that may confuse or annoy them and also educate you on various methods of avoiding the same.

Thus, an impressive ECommerce development may reach a lot of people and reinforce your online presence in the competitive market. By hiring a dedicated ECommerce programmer can be sure that the business to customer relationship is well taken care of, which turns your business into sales!

Now if you are thinking to create an online store to start your online business then you need to develop ECommerce development. For this you must look on hiring an experienced, knowledgeable and thoroughly professional ECommerce programmer which is very much important because your ECommerce website should look professional to your visitors. Only a professional ECommerce expert can understand your requirements clearly. He can also suggest what could be the best choice for you. ECommerce experts will also offer you affordable solutions for your shopping carts. This way, you can get the best of solutions at competitive prices. These experts are aware of every minute detail that can contribute to the success of your website. Factors like professional graphics and layout, easy to use, easy to navigate through, organized and effective site structure will all contribute to a professional looking website.

Originally published here.

What is e-commerce? e-Commerce, also known as eCommerce, is short for “electronic commerce.” Great. So what’s “electronic commerce,” then? Simple. It’s buying and selling stuff over the Internet. “Stuff” can include goods, services, or both. e-Commerce covers a broad range of businesses, from stores selling specific products, to auctions, to (legal, paid-for) downloading of music and movies. It has become one of the most important results of the spread of the Internet.

Think about it. You can go online, buy a book, and have it delivered to your door the next day, without ever setting foot in a bookstore. It seems so natural now, but people couldn’t always do that. When it comes to buying and selling stuff, barriers of time and distance mean very little anymore. e-Commerce has grown incredibly fast over the last few years. Expect this to continue, or even accelerate. Also, you can expect the line between ‘regular’ and ‘e’ commerce to blur more and more. Almost every kind of business will be done will be at least partly over Internet.

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What is e-commerce? It’s a new way of doing business, relying on innovations in moving money and information around electronically, marketing goods and services over the Internet, processing the actual transaction online and Internet security. The explosive growth of e-commerce creates amazing opportunities. The chance of getting rich inspires people to invent new and better ways of doing all this. Modern e-commerce usually relies mostly on the World Wide Web, at least in part, although it can involve quite a range of technology from the old-fashioned phone call to email to dedicated electronic connections between the business and the customer.

Businesses also sell stuff to other businesses, rather than to consumers, over the Internet. Business to business e-commerce is usually referred to as “B2B”. Manufacturers buy parts, retail stores buy from wholesalers, everybody hires programmers, and more and more of this is getting done over the Internet. e-Commerce has a lot of advantages over old-fashioned approaches for B2B. Done right, e-commerce is faster, cheaper, more convenient and can reach more potential customers.

It’s worth mentioning that when we describe e-commerce as buying and selling stuff over the internet, it doesn’t quite tell the whole story. It isn’t just selling, e-Commerce also includes passing data back and forth in order for financing and payment to happen. After all, what is the point of selling stuff if you don’t get paid for it?

Oh. One more thing. You know that tiny little lower case “e” at the beginning of the word e-commerce? Ever wonder why it’s not a large, beefy upper case E? The answer is simple: the e stands for electronic, and electronic, literally, means having to do with electrons. Electrons are the sub-atomic particles whose moving around gives us energy in the form of electricity. The scientific symbol for electron is a small e.

What is e-commerce? Business done electronically. Buying and selling stuff over the Internet. What is e-commerce? Soon, it may be all commerce.

Originally published here.

This year, according to eMarketer, one billion people worldwide will have Internet access and nearly 250 million households will have broadband. Although, Asia accounts for 56 percent of world population, but only 10 percent has access to the Internet at present. With the rapid economic development of Asian countries this figure will increase dramatically in the coming years. This ubiquitous presence of the Internet is forcing companies to embrace the Internet as a marketing and sales channel aggressively. Many companies have adopted Internet based technologies to streamline their crucial business processes and benefiting enormously from it.

Import Export companies are no difference! Most export import companies are using the Internet to augment customer base, tap into new markets, research competitors, find new products and evaluate country opportunities. However, many of these same companies are still slow in implementing eBusiness features in their daily business activities and, as a result, fail to garner true value from the use of the Internet. Trading companies – those which are still not doing online business transactions – should follow the examples of their retail counterparts and adopt eCommerce strategies.

According to a recent study conducted by Forrester Research, retail sales are expected to rise 20 percent to US$ 211.4 billion – a two fold increase from only three years ago. Whether you are in exporting or importing business it does not make any difference, by using eCommerce and adding some of the basic eBusiness functions to your website you can also profit from this trend.

Electronic commerce is the process of selling products through the Internet. There are two distinct segments of eCommerce – Business to Business and Business to Consumers. Retailers are mostly involved in B2C and import export traders are often more in the B2B sector. That’s why you need to realize that the components of eCommerce you may need in your website will be based on your business specifics. In general, all eCommerce sites are a combination of some of the following business functionalities:

• An eCatalog so that buyers can browse through the products you have to offer
• Product specification that gives detailed technical and delivery information
• A feature that allows sending request for quote online (RFQ)
• A product order placing system – normally a shopping cart
• Ability to view order status
• Sending a notification if a new product added to the catalogue which was requested by a prospective buyer
• At least one payment method. For small orders you should have a merchant account.
• Purchase order sending ability. Buyers should be able to send PO for the products readily available or the contracts already negotiated with you.
• Billing system should generate invoices automatically

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Once you implemented these features there is virtually no geographic restriction on where you can sell your products. If you are an export company you may consider translating your eCommerce site to the language of your targeted market. This gives you an extra ability to leverage your sales endeavour.

Benefits of eCommerce

Increase revenue: By implementing eCommerce you are opening a new sales channel. Study shows, a well prepared eCommerce strategy can increase sales from mere 10 percent to several times within the first six month of implementation. There is a possibility that order size per customer will also increase thanks to some eCommerce functionalities like advanced eCatalog, Notification service, order status viewing system and ability to offer related products.

Expand client base: Depending on the exposure of your site, you can acquire customers from every corner of the world. You are no longer confined to any geographic area.

Reach niche market segments: You can market your eCommerce site by pin pointing a specific market segment with the help of the Internet.

Lower operating costs: Your eCommerce site will eliminate or reduce workloads of sales and support force. Marketing on the Internet is significantly cheaper than in offline world. You will also benefit from lower telecommunication costs, losses incurred from document errors, inventory and sales management costs. This will have direct impact on your company bottom line.

Better customer service: The ability to provide decisive information, real time interaction with customers and customer relationship management functionalities allow you to serve your customers better and help increase customer retention.

Enhance your company image: A well-managed, robust and user-friendly eCommerce site enhances positive image of a company.

Are you ready for eCommerce?

Before you implement an eCommerce plan, you need to figure out as an exporter or importer how viable it is for you right now? Are you going to receive the benefits mentioned above? Will the customers from different geographical location benefit from your new service channel? How critical is a well-described product specification for your customers?

Any company no matter how small or big it is from an eCommerce site no doubt it will benefit immensely from an eCommerce site. But the question is, are you ready to commit enough time and money to make your new venture successful?

Developing your eCommerce site

Depending on the type of eCommerce site you are planning to build it might take somewhere from three months to over a year.
There are several ways of starting an eCommerce site.

Building in house: You should consider developing your eCommerce site in house only if you have significant experience in this field. In order to build a successful eCommerce site you will need a team of experts in programming, designing, copy writing, and, most importantly, a project manager with the knowledge of your business model, enough technical proficiency and experience so that the system gets developed on time with expected business functionalities.

Outsourcing: There is no doubt that outsourcing is more cost effective and less time consuming for most of the companies. The only thing is you have to choose the organization which will build your site carefully and professionally.

Using web stores: If you are constrained by time or would like to take advantage of eCommerce immediately you can also get eCommerce site from online service providers. These web stores have all the needed functionalities for a true eCommerce site. Some of them are also capable of providing supply chain management and other key business automation abilities. Check out sites like Rusbiz.com.

While implementing eCommerce strategy you need to remember that eCommerce just enhances and complements your present business model but the fundamentals of your business remain the same. However, eCommerce with it’s innate flexible nature may open new business horizons for you with all the risk and reward implications.

Originally published here.