Define Ecommerce | Define Ecommerce as the electronic purchase and sale of products and services, often over the Internet.
Define Ecommerce. To support its viability, a combination of technologies had to come together, just like the motor industry needed breakthroughs in the combustion engine, conveniently available oil supply sources, and the maturity of mass manufacturing.
Similarly, ecommerce requires browser maturity, general public adoption of the internet, the availability of supporting web languages, banking system gateways and interfaces, and the know-how of a burgeoning web development community.
This can be seen in the case of Amazon, which once cost hundreds of millions of dollars to construct, yet today, extremely powerful ecommerce systems can be obtained and installed for a few thousand dollars using open source.
When it comes to defining ecommerce, there are numerous market channels to consider, such as retail or online shopping, which are commonly referred to as B2C and B2B. B2B can be divided into open exchanges, such as a commodity exchange, and private invitation-only bid systems.
After unrealistic valuations in the late 1990s led to the final stock market dot.com crisis in 2000, the Nasdaq lost over 50% of its worth, and infamous instances like petsmart.com littered the doc.com graveyard, ecommerce was first considered as a bust. However, ecommerce has expanded and matured since then, reaching nearly $200 billion in US sales in 2010.
This was accomplished through more consumer-centric offers and technological synergies, commonly referred to as Web 2.0 in the media, as well as improved infrastructure (broadband and wireless networks), resulting in a greater general public adoption of the internet.
Automation in supply chain and logistics, domestic and international payment systems, content management systems (CMS), automated online assistants, instant messaging, newsgroups, online shopping and order tracking, online banking, online office suites, shopping cart software, AJAX, HTML, LAMP (Linux, Apache, mySQL, PHP), search engine optimisation, web services, and social media are some of the common technologies used to build and define e commerce.
Business-to-Business (B2B), Business-to-Consumer (B2C), Business-to-Employee (B2E), Business-to-Government (B2G) (also known as B2A), Business-to-Machines (B2M), Business-to-Manager (B2M), Consumer-to-Business (C2B), Consumer-to-Consumer (C2C), Citizen (Consumer) (P2P).
Emerging eCommerce Trends That Will Shape The Future Of Online Retail
To say the least, the worldwide eCommerce market is exploding… According to Statistic, global eCommerce exceeded 2.3 trillion dollars in 2017 and is expected to reach a new high of 4.5 trillion dollars by 2021.
eCommerce enterprises account for around 10% of retail sales in the United States alone. Every year, this figure rises by about 15%.
About 11% of online shoppers use their smartphones to do their shopping and transactions on a regular basis. According to some estimates, 35% of people will use their smartphone as their primary mode of payment for all purchases.
Around 39% of people who shop online use social media platforms to get ideas for some of their purchases.
eCommerce is changing at a breakneck speed. As a result, maintaining up to date on the latest online shopping trends is critical if you want to keep generating sales while staying ahead of the competition.
Three eCommerce Trends That Will Define the Future of Online Stores are listed below:
- The first is animation. “Catt Small,” an Etsy Senior Product Designer who also produces games, feels that motion animation will be huge on eCommerce and advises eCommerce organisations to start learning how to design games now…
In games, certain motions appeal to players, and they are provided crucial feedback, such as what to pay attention to, when they are doing well, and how to better their game.
This motion can be translated into indications of urgency and/or contentment in eCommerce. Etsy, for example, uses graphics with motion in its emails to bring their brand to life and spread excitement. They also employ animated iconography to give messages about products that are virtually sold out.
In a nutshell, motion merely gives customers the impression that they are experiencing a more active and enjoyable experience.
Using tools like Spirit and Principle, you can now quickly design animated iconography and the like.
- Pictures and videos that are more interesting. Adding a 360-degree model image of your product to your eCommerce website is a good approach to improve the quality of the material on your site. You may also include an animated GIF that highlights all of the excellent qualities of your various items.
Certainly, this is a format that people are increasingly seeking, and if that isn’t enough, you also have the option of placing such content on your YouTube channel to increase traffic.
Original images are still fantastic, but they can be difficult to come by. However, avoid using low-quality stock photos, as they might make your company appear unprofessional.
- Voice Searches. With Alexa and Google Assistant becoming more relevant and used by people, voice search is set to take off this year (2018). Google and Walmart just announced a new agreement that would allow Walmart online shoppers to use Google’s Voice Assistant.
Currently, Voice is used in about 20% of Google searches conducted on mobile devices. There has been an increase in the use of voice activated devices, such as Google Home and Amazon Echo, in recent years, which is a strong sign that Voice Search is making its way to the top of the eCommerce industry.
With the rise of mobile eCommerce, optimising your online business for voice searches will become a must this year. Take the time to get to know your core consumer persona; pay attention to how they interact on social media platforms and try to emulate their language and/or tone.
There are certainly additional developing eCommerce trends, but we believe these are the top three things you should concentrate on to keep your eCommerce online store relevant and provide clients with the most up-to-date features.
What You Should Think About When Planning Your Ecommerce Business
Ecommerce planning necessitates a focused approach to scope and limit the business’s functional requirements. The web presence of a company is determined by its aims and objectives. As a result, the technology and platform needed for the execution stages, marketing initiatives, support staff, and other ancillary requirements to bring the strategy to fruition will be defined.
It’s critical to have a defined ecommerce project plan in place before you start building. This comprises determining feasibility, determining requirements, and evaluating the business. The project should be designed to fit into current company processes. As a result, you must determine the scope of any back office or legacy system integration. Business process requirements will be accommodated by the design and technology used.
A full online store, for example, might be necessary to connect to an existing inventory management system. Business requirements must be well defined because they will be utilised by developers to understand the ecommerce project plan and as a reference throughout the testing phase to ensure that the project execution matches the original stakeholder objectives.
The ecommerce planning interface must suit the project’s functional and end-user needs. Online ecommerce initiatives require a lot of database integration and must sacrifice design in order to be SEO friendly. A succession of screenshots are frequently used to create a visual representation of the layout. The look and feel of the interface is determined by the company’s branding. During this stage, some tradeoffs are frequently made in order to meet the project’s multiple competing requirements.
The platform used is usually determined by what is supported internally inside the company or externally by the web development firm. The payment gateway provider chosen will also influence the development process.
A technical paper defining the project’s requirements is required for the development team responsible for coding the project. To avoid costly overruns during the implementation stage, the ecommerce plan must be tightly defined in terms of specifications and interpretation.
Extensive functional, usability, and security testing follows the completion of the interface and coding. This is to ensure that the site is stable, that it satisfies the project’s goals and objectives, and that it can withstand stress and platform testing. The ecommerce plan specifies the test objectives. The project is launched after the final modifications have been done.
After the project is launched, the ecommerce plan’s marketing endeavours will become crucial. This will necessitate the creation of a separate and detailed plan, and the organisation must immediately shift from development to promotion mode.