E-Commerce Solutions For 2019
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As of 2018, 57 percent of global internet users had purchased fashion-related products through the internet, making apparel the most popular online shopping category worldwide. Footwear was ranked second with a 47 percent online purchase reach.
There were a total of 258.9 million digital buyers in the United States in 2018. This figure is projected to increase to over 307 million buyers in 2023, reaching 79.2 and 90.8 percent of U.S. internet users respectively. The fastest-growing e-commerce categories are food and beverages with a 12.7 percent CAGR between 2017 and 2023, compared to an average industry growth of 8.7 percent.
Online retail in the United States
Overall, customers in the United States were satisfied with e-retail as a whole and online retail scored 82 out of 100 points in the 2018 ACSI (American Customer Satisfaction Index). After years of being the highest-scored online retailer, customer satisfaction with Amazon decreased to 82/100 points, keeping in line with the industry average. In February 2019, Amazon accounted for nearly half of the retail e-commerce market in the United States and second-ranked eBay did not even reach double digits.
Types of E-commerce Models
There are four main types of e-commerce models that can describe almost every transaction that takes place between consumers and businesses.
1. Business to Consumer (B2C): When a business sells a good or service to an individual consumer (e.g. You buy a pair of shoes from an online retailer).
2. Business to Business (B2B): When a business sells a good or service to another business (e.g. A business sells software-as-a-service for other businesses to use)
3. Consumer to Consumer (C2C):When a consumer sells a good or service to another consumer (e.g. You sell your old furniture on eBay to another consumer).
4. Consumer to Business (C2B):When a consumer sells their own products or services to a business or organization (e.g. An influencer offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use).
Examples of E-commerce
E-commerce can take on a variety of forms involving different transactional relationships between businesses and consumers, as well as different objects being exchanged as part of these transactions.
1. Retail: The sale of a product by a business directly to a customer without any intermediary.
2. Wholesale: The sale of products in bulk, often to a retailer that then sells them directly to consumers.
3. Drop-shipping: The sale of a product, which is manufactured and shipped to the consumer by a third party.
4. Crowdfunding: The collection of money from consumers in advance of a product being available in order to raise the startup capital necessary to bring it to market.
5. Subscription: The automatic recurring purchase of a product or service on a regular basis until the subscriber chooses to cancel.
6. Physical products: Any tangible good that requires inventory to be replenished and orders to be physically shipped to customers as sales are made.
7. Digital products: Downloadable digital goods, templates, and courses, or media that must be purchased for consumption or licensed for use.
8. Services: A skill or set of skills provided in exchange for compensation. The service provider’s time can be purchased for a fee.
6 Reasons For An C-commerce Website Solution
1. Global Market: Gives you the opportunity to reach out and offer your products and services to customers all around the world.
2. It’s more convenient for customers to purchase from your business. This make it more accessible
3. Broaden your brand to various target markets.
4. Marketing through social media and search engines makes it easy to link campaigns directly to your store or specific products that you are promoting.
5. Less Overhead: Less staff necessary and higher revenue. 6. Scalable: Ensure your business is prepared for growth.