Online Shopping or Ecommerce has grabbed the attention of shoppers who have gone past the hesitance of sharing personal data and credit card details on the internet with the privacy and safety assurances given by retailers. The word of mouth aspect is a big boost to online shopping, and the confidence in getting more than what you thought you would choose is the key to pampering the customer in the comfort of their home. 

It is not just about the product anymore but about the entire shopping experience. This could be broken down into three aspects – wooing the potential customer, converting this potential into sales and keeping up the relationship with the customer for brand loyalty and future conversions.

Some of these aspects could also hold true for brick and mortar selling, which again means wooing the potential customer, conversions into sales and an ongoing after sales customer association. Both methods of shopping hold good, but it is difficult to deny the challenge posed to brick and mortar sales in the age of ecommerce. 

Here’s an article on why you should have an ecommerce store.

In 2018 alone there was an increase of 23.3% in ecommerce sales when compared to 2017. The only thing that remains to be perfected is the ease of internet access.  An estimated 3 billion potential buyers from emerging markets will have access to the internet by 2022 and that is good news for ecommerce companies. 

Here are reasons why we think ecommerce will further soar in future. 

• Buyer’s psychology

As far as a buyer’s psychology is concerned, they think ten times before making a choice to buy a product online, especially an expensive product like a device or electronic appliance. While buying the product offline in a store, a customer will compare the product in more than one store for the best rates, check the features of the product and inspect the hardware before going ahead to make the purchase. 

What some customers also do is check the product in the store, then go online to see if they get a better rate for the same product and then go ahead and decide where to make the purchase. This also depends on the place the buyer is located at and availability of the product in a store close to them. Convenience is the name of the game and somewhere the location disadvantage could work against brick and mortar stores.

That is where purchasing the product online makes it convenient for the buyer, gives the buyer information of the product on more than one particular ecommerce website and websites where the product is reviewed before a buyer is satisfied and enters their card details online.

• The experience of online shopping 

The world of online shopping can leave a buyer spoilt for choice. The available choices and the possibility of exploring more than what you would see in a brick and mortar store make online shopping worthwhile. Many go online to see the available choices and brands while relying on size guides, product videos and reviews before shopping, knowing they can always return or exchange the product.

 Most buyers, however, would hesitate the second time in cases where the product quality is dubious and might not go back online to purchase a similar product again. This category of buyers would then prefer to walk into a brick and mortar store.

However, for most products, brick and mortar shopping cannot compensate for the variety of products available at the click of the button and delivered at the doorstep, the promise of easy returns and exchanges, refunds and credit points. Customers are spoilt for choice online and sometimes what they cannot find in offline stores is available online. 

• Shopping on the go 

Online shopping has an edge over offline shopping with mobile phones giving ecommerce companies a sales boost. Whether you are at home, your workplace or travelling by public transport, buying essential products like groceries, toiletries and medicines just got easier despite a hectic schedule. 

A customer need not go to the store to buy a pair of shoes or a crisp white formal shirt for a meeting when the need of the hour is to focus on the presentation. Online shopping comes to the rescue. 

However, the challenge here is the need for effective 3D viewing of products as many consumers don’t always want to read lengthy product descriptions and want to find all their information at ease before they hit the buy button. Images of the product are no longer sufficient, especially in cases where ecommerce companies have their stand-alone online store, competing with marketplaces where multiple brands are available.

This is where 3D viewing of products is becoming increasingly important to convince the buyer of the look of the product with an Interactive Product Visualization. 

It is also no longer just about desktop shopping. Mobile friendly shopping is a separate aspect of shopping with apps becoming the name of the game, and more revenue pumped here especially to boost the mobile shopping experience. 

Smartphones have now become accessible and cost-effective as have data charges, and high internet speeds make the shopping experience for the buyer much smoother. 

• B2B ecommerce

Ecommerce serves as an important platform for B2B or Business to Business transactions apart from B2C transactions. B2B identifies both the seller as well as the buyer as business entities. B2B covers a large number of applications, which enables businesses to form relationships with their distributors, resellers, suppliers. However, B2B transactions are much more complex. In B2C, prices are generally fixed, shipping is straightforward, and quantities are low. In contrast, B2B transactions prices are highly variable. Businesses are much larger entities; the volume of products and services are much higher and have much more complicated shipping requirements. In addition, B2B ecommerce markets generally have to deal with much more complex tax and regulatory impediments. The complexity of the B2B ecommerce market makes the solution requirements and implementation processes very demanding. The scope to provide effective solutions to bridge the locational gap and solidify B2B relationships are what makes the challenge worthwhile.     

Read how you can overcome challenges in the B2B ecommerce realm here.  

VARStreet discovered a lacuna for an ecommerce solution in the B2B landscape and developed an ecommerce solution to address all the complex business processes of a B2B reseller. Get in touch with our product expert here

And Finally…

There is no denying a further boom in ecommerce in the coming years, especially in the United States. In 2016, 90.8 percent of internet users in the United States had browsed, research or compared products online. In 2020, this figure is expected to grow to 92.5 percent. The online sales of physical goods are projected to surpass 735 billion US dollars in 2023. 

It is a great time to get in on the ride. The entry barrier to start selling online is low, and dropshipping has further lowered the bar. Sign up with VARStreet today and get started on your ecommerce journey.

Learn More About Ecommerce:

• Why Small Businesses Need E-Commerce
• Tips for Creating a Powerful Ecommerce Brand

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