How is eCommerce Helping Small Businesses?

by Shreeya Ray
25th Mar, 2022 05:06pm

When the pandemic hit in 2020 the World Health Organization declared it as a state of Emergency for the entire Public Health. We lost so many things along the way and the world just stopped functioning. The cases never ceased and things just kept on getting worse. But some of them never gave up on their dream and never lost hope. Small businesses from all over the world found a silver lining to their grey cloud. People who did not even consider what they do as a hobby, could potentially grow into a really successful and profitable business. They found their second chance at doing what they always wanted to do.

Where does E-commerce originate from?

The basic explanation for eCommerce would be that it is a business of buying and selling things over the internet. It operates in four major market segments and can be conducted over smart devices, that is at the tip of your fingers.

If we think of it, eCommerce has always been an integral part of business for a very long time and it has existed for a while now. In 1979 Micheal Aldrich invented eCommerce. This was done by connecting a transaction processing computer with a modified TV through a telephone connection, which was done for transmission of secure data. Considering this was founded so early, eCommerce is yet to reach its full potential. The first eCommerce company that was launched in India was Fabmart , founded by Alphonse Reddy and K.Vaitheeswaran in 1999.

A study says that by the year 2023, eCommerce purchases will rise from 14.1% to a whopping 22%.This is one field that has no limitations at all and has a stable growth.

How did E-commerce evolve ?

Before the existence of the internet or eCommerce, paperwork was the most vital thing that kept a business going. Everything related to business, from managing orders to customer feedback had to be on paper and the files had to be arranged and stored accordingly. Things that are now accessible by one click were done by actual people working in their offices. In earlier years there were a bunch of jobs that existed that are now replaced by machines or technology. Communication took a really long time and decelerated the growth of a company. As times changed, people wanted to be more flexible with their jobs and not do a regular 9–5.

According to recent research from flexible working experts Timewise and the Joseph Rowntree Foundation social research charity, almost half the UK workforce — more than 14 million– would like the opportunity to work in a more flexible way.

The computers and the technology changed along with traditional office work behaviour. And that is how eCommerce evolved. With different wants and needs people figured out smart ways which helped the business and the customers to have a smooth sailing experience.

People with businesses also figured out a way to reach a wider audience. They created online stores for their business and as time went on, business owners could create their websites for free just how they wanted it to be and not pay a buck for it! There are so many website developing businesses that offer this service and provide free marketing and integrated solutions.

How does eCommerce benefit a small business?

A small business is a privately owned corporation which is run by a sole proprietor or in a partnership where the annual revenue is less, as compared to a large scale business. Small businesses tend to have a restricted area for operation. The one good part about it is, that it helps maintain a really good relationship with the customers, with one downfall that is there is no scope for growth as it takes a lot of time for business to outstretch. That is when eCommerce comes in and bridges the gap between the good and the bad. The way a consumer has access to services and products anytime and anywhere, no matter what device they are using, the internet and surfing the internet has become an integral part of their lives. As this happens over the internet, customers have access to a store 24x7 for 365 days, which is not possible in reality.

That is how eCommerce has revolutionized the shopping experience for the consumer. When a small business adapts a simple technique by just launching their store online and running a proper well maintained website things can take a complete 360 degree turn. As there are no geographical limitations, a product can travel from one continent to another safely and then right to the customers doorstep. There is no restraint to what a person can order and how much he can order, a continuous sense of security with identity and the money transfers because the end to end communication happens between the customer and the business owner only. For a small business to flourish the only thing that keeps it running like a well oiled engine are the orders that keep coming in. And when this happens along with a great online presence, small businesses have a huge advantage gaining customer loyalty, which then spreads like a wildfire to more people and that’s how they gain momentum.

Wrapping up

Many customers still find it hard to order from an online store, when they visually or physically can’t experience the product. Small businesses should make sure the product that they are selling should be top of quality and they should never run out of stock if there is want for it in the market. As trends keep on evolving, the business should be able to keep up with it which results in a greater workflow and proficiency. Having a great customer relation and the ability to take in constructive criticism to work on your business relentlessly will pay you back one day. When you don’t hesitate to offer your customers a clean picture of what your product is and what your business stands for, you know you are in this race for a longer time.

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