What is Advantages of E-commerce
Top 5 advantages of e-commerce for consumers
1. Lower prices
The lower costs of running an e-commerce store versus a physical store translate to cost savings for the consumer. This is one of the biggest e-commerce advantages. Online prices are typically lower than traditional store prices, and e-commerce sites are able to offer more discounts and promotions that are easier to claim
2. Convenient and safe
Not only do online consumers typically provide their name, email address, and phone number when checking out or registering on a site, but they also provide a wealth of consumer behavior and demographic data, available through Google Analytics, that can help online retailers optimize the consumer journey and market more effectively and accuratel
E-tailers are also able to nurture and retarget consumers precisely, based on their stage in the journey. For example, using data insights, an online retailer can email potential customers who have abandoned their carts, motivating and reminding them to check out their purchase, and can even use retargeting advertising to nurture leads that have not yet purchased.
3. Wider customer base
The internet also opens up your retail store to different niche audiences that you wouldn’t have access to. By using multiple online touchpoints, you can access customers from all angles by going where they already are, such as social media, forums, and Google search.
4. Open always
Even though your customer support may be sleeping, automation ensures that the rest of the sales process is always flowing and consumers can buy on any day, at any time
5. Easier to scale up
Scaling up or growing a physical store requires more floor space (and the expense that comes with it!), employees, and shelf space. In contrast, it’s very simple to grow an online store, which is one of the less obvious benefits of e-commerce for businesses.
All you need is more inventory, a few digital tweaks, and possibly more storage space, which is far less costly than storefront space. Being online also eliminates the need for opening a new store in another location as you’re already within the reach of a global marketplace.
