Benefits of E-Commerce for Customers
E-commerce has been around for a long time. It started with Phil Brandenberger, a man who purchased the first online product – “Ten Summoner’s Tale” studio album from Sting in 1994. Twenty seven years later, in 2021, online commerce took over the market. It is estimated that e-retail sales worldwide will soon grow up to 4.8 trillion dollars. E-commerce is progressing so significantly that it may soon be serving 2.14 billion people.
It simply became an integral part of our life and a significantly more profitable business model than brick-and-mortar stores. This article will show you the most significant of online shopping, from a customer data, as well as business point of view.
What is E-commerce?
Other terms for e-commerce include electronic commerce, internet commerce, or online commerce. It refers to all activities that involve buying or selling goods and services online. Simply, it has the same concept as brick-and-mortar stores, only all the transactions and interactions happen through the internet. You can purchase various products, from clothes or sports equipment to software solutions and other services.
E-commerce does no longer happen mostly on laptops. Nowadays, mobile devices are in the lead. This year, mobile commerce is expected to cover more than half of all online sales activities.
Important note: Don’t confuse e-commerce with e-business, since these two terms are not synonyms. E-commerce includes the transaction of products and services solely, while e-business covers all aspects of internet business operations.
E-commerce Models
#1 B2C – Business to Consumer: We put this model first since it is the most popular one. In the case of B2C e-commerce, sales happen between business and consumer. For example, if you buy swimwear via Shein, you just made a B2C e-commerce purchase.
#2 B2B – Business to Business: It defines a model where a business is selling either products or services to another business. CloudTalk counts as a B2B e-commerce model since we offer software solutions to other companies.
#3 C2B – Consumer to Business: Simple model. An individual person sells services or products to a company. Here, we can mention freelancers, such as writers, photographers, etc., but, for example, also influencers, promoting branded products on their channels.
#4 C2C – Consumer to Consumer: This model refers to one individual person selling a product or service to another individual person through the internet. For example via platforms like eBay or Etsy.
#5 D2C – Direct to Consumer: The newest e-commerce model, where a brand sells directly to their end customer without going through distributor, wholesaler, or retailer. A popular example is subscriptions or selling via social platforms, such as Facebook, Instagram, or Pinterest.
Yet, in this blog, we will be talking solely about the first two models – B2C and B2B.
The Advantages of E-commerce For a Customer
E-commerce ensures customers can find everything needed in one place, without a necessity to even get up from the couch. This is probably one of the greatest advantages of online shopping. Why walk among store shelves and search for products when all you need is a couple of clicks from you?
Here is our selection of the most significant advantages e-commerce brings to customers:
Choose From Wide Range of Goods
E-commerce allows customers to choose a product or service they want, from any supplier, anywhere in the world. You have a much wider choice than in brick-and-mortar stores. And the freedom to browse without any stress or hurry is priceless.
You can also get a big variety of products since there is no space limitation with e-commerce. The traditional store has boundaries that allow it to offer only a limited quantity of goods.
However, e-commerce stores may have their limitations elsewhere. Although you can choose from a much higher number of products online than offline, it does not necessarily mean that the online product is actually in stock. If it isn’t, you have to wait for a few days.
Enjoy Simplicity and Comfort
Customers can buy any product from any e-commerce in the world without having to leave their workplace or home. Due to bad weather, economic and health situations, or any other reason, many people cannot go shopping. A great showcase is a Covid19 pandemic when brick-and-mortar stores were closed for months.
E-commerce is convenient for buying goods or services without creating physical limitations. It requires just a few clicks from the comfort of your home to gain the merchandise.
There is also no need for cash. You may simply fill in credit or debit card details and make an immediate payment.
Save Money
Products offered over the Internet are generally cheaper than those in the shops. So, you can save your money. Costs incurred by a provider of products or services in cooperation with an intermediary are paid by the customer. When there are no middlemen, the customer may not have to spend that much.
Save Time
Saving time is one of the major benefits of e-commerce. Customers can order anything you need online, even groceries to cook. E-shops are open 24/7/365, so you can shop at any time. There is no issue with ordering in the evening or even during the night.
The period required to choose, buy, and pay for an online product is 15 minutes or less. Products are often delivered within a maximum of one week, but it can be days or hours, depending on a sort of service. If you order goods that are heavier, the delivery person will bring them to your doorstep.
Get Detailed Information
The Internet is used as the main tool for making e-commerce transactions. It allows customers to search for product information, compare prices and benefits and ultimately evaluate whether it is really worth the money.
Everything that you need for making an informed decision is literally there, on the tip of your finger – reviews from other users, tools comparing websites or prices, product descriptions, usage videos, etc.
There is also warranty information that contains product descriptions and other details. All customers therefore may be fully aware of the conditions before purchasing the product. This way, a change of any dispute regarding guarantees or other matters drops to minimum.
To put it simply, with e-commerce, you can find all the product details online while goods that are physically located in the store may not have this option.
Just be cautious.
If you do business with well-established e-shops and find all information before you make an order, all shortcomings will be eliminated and you will enjoy only the benefits.
