Why is E-Commerce Important?

The recent pandemic that affected the world has forced companies to rethink their strategies. Traditional businesses were not able to operate under normal circumstances due to the restricted movement imposed by the government. The restricted movement affected many traditional businesses that depended on physical business transactions. E-Commerce solutions became the lifeline to many businesses to continue operations. They soon realized that its more than a lifeline it was also the key to their success. Many companies from small kopitiams, florists and pet shops, grew exponentially by taking advantage of e-commerce.

How Does E-Commerce Benefit You? 

1. Let your shop work for you even when you sleep

Studies shows that people tend to make purchases after work hours. The generation today are usually working from 9am to 6pm which is usually when small shops close. Some florists like Bloom this have their ecommerce stores open 24/7 and still take in orders at night! That makes it perfect for a next day delivery. E-Commerce stores has the benefit of being operational even when your business closes for the day. It can even handle customer inquiries with auto responders that can be pre-programmed with common questions.  

2. Reduction of operational costs

Physical stores will incur operational costs such as water, electricity, rental, phone and etc. to keep it running. This is not necessarily a bad thing when your business is doing well, its return will outweigh the costs. We have seen businesses that have moved completely towards the e-commerce model being more versatile and profitable.

3. Enhanced inventory management

If you are still depending on paper for inventory management you are in for a headache. E-Commerce platforms comes fully equipped with digital inventory management. When customers make an order, the stock is automatically updated. When stocks are running low, it automatically sends a reminder to owners. It also automatically updates the store when certain items run out of stock preventing any accidental orders from taking place. Doesn’t this reduce inventory management costs?

4. Integration with courier services

E-commerce platforms also has the ability to integrate with courier platforms such as Easy Parcel. Each order will automatically create an airway bill and business owners will only need to drop their parcel at a drop off point. Business owners will only need to key in the weight and dimensions of all their products for the first time in order for the system to automatically generate the delivery costs for your customers.

5. Take advantage of digital marketing

Did you know that with “retargeting”, your ads can target customers that have been searching for similar products? Maybe that customer was looking at roses for valentine’s day and your ads can specifically target those customers and show your ad! The advantage is that you are only showing ads to customers with an intent of making a purchase. Retargeting makes advertising very specific and hence reduces overall marketing cost. This is only one of the many digital marketing techniques that can be used to promote your brand and services. Compared to traditional marketing which limits exposure to a limited geographic area, digital marketing can push your brand to a wider audience.