Advantages of E-Commerce
E-commerce sales are expected to grow to 4 trillion by 2020 worldwide. In the United States alone in the year 2016, e-commerce retailers made $322.17 billion in sales revenue.
There are many advantages to Ecommerce Malaysia especially during this era of high penetration of internet in the world. There are very low financial cost especially lower start up cost as there is no need for a physical store and lesser employees. There is also 24/7 potential income as the internet requires no closure of stores hence online shoppers can shop where and when convenient to them.
Next is that one can sell internationally and be visible to potential customers from another country. Another advantage is that it is easy to showcase the bestsellers of a product range. The following advantage is that it allows for a personalized online experience. Such examples include a “welcome back Mr Jack” or today’s products which you might like, etc.
It is also easier to encourage impulse buys as in an online setting it is very easy to make a product even more enticing with gorgeous pictures of the product and the advantage of consumers not seeing their hard earned cash physically drained from their online bank account instead of them physically handing over their cash in a traditional brick and mortar store.
Another advantage e-commerce has over a more traditional business is that it is easier to target consumers again as there are algorithms that can retarget a customer and market similar products to him or her to entice them to make another purchase in the near future.
The last advantage is that customers get a less invasive and a less in your face presence of sellers or staff following customers and looking over their shoulders trying to persuade a customer to make a purchase.