Electronic commerce, largely referred to as E-commerce, is any business transaction that takes place online. If you have ever bought or sold anything over the internet, you have conducted E-commerce. Purchasing or selling brand new goods, used commodities, providing your services in return for money, bartering between people or companies, auctions, shopping websites etc all fall under the wide umbrella of E-commerce . Another form of E-commerce is where businesses transact with each other instead of with customers, termed as Business to Business or B2B. For a detailed understanding of what E-commerce is, consult What is E-commerce. The various types of E-commerce are Business, Business-to-business (B2B), Customer to customer, Customer to business, Business to customer, Business to government and Mobile commerce.
The most popular E-commerce platforms of Pakistan are:
- Daraz.pk
- Goto.com.pk
- Aliexpress.com
- Telemart.pk
- Shopanga.pk
- HomeShopping.pk
- iShopping.pk
- Yayvo.com
- Shophive.com
- Symbios.pk
- Alibaba.pk
- OLX..com.pk
- Vmart.pk
- Azmalo
- Epal.pk
- Alphatraders.pk
- Zameen.com
The most famous international E-commerce platforms are:
- Amazon.com
- Ebay.com
- Rakuten.co.jp
- Aliexpress.com
- Walmart.com
- Etsy.com
- Taobao.com
- Avito.ru
- Flipkart.com
- Craigslist.org
An E-commerce framework refers to the kind of software you’re using to build or grow your E-commerce store. For example, the E-commerce software Magento uses an open source framework, while BigCommerce uses SaaS. Both of them also enable a headless framework.
People prefer E-commerce because it saves time and energy, the transactions are super quick, convenient because physical presence isn’t required and overall cheaper too. Electronic forums are easy to set-up and have made the interaction of customers with suppliers easy and beneficial for both. Familiarity with the principles and benefits of E-commerce is vital in order to be successful. Growth is only possible once your business is established and you’ve gained recognition. So how exactly can one grow their E-commerce business?
One marketing gimmick is Affiliate Marketing where an online business pays commission to an external website for customers or sales generated from their website. To get started, pick your target audience and then choose a URL wisely for them. The content on the web should be relevant to create authority. Affiliate Marketing is one of the prime sources of earning online with a contribution of at least 16% from USA and Canada. Join an affiliate program and add links and visuals. Don’t forget to measure your success for an analysis.
Secondly, you can partner with another similar E-commerce website. This method is pocket-friendly, straightforward and can bring you instant success. Adding perks like discounts or free coupons act as magnets, all you need to do is think like a potential customer. Thirdly, instead of aiming for new customers, you can focus on your existing fans. Entice them with smashing offers like ‘buy 2 get 1 free’ or initiate a competition with a fantastic prize! Make a list of all your old and loyal clients and surprise them by sending a small gift voucher or flowers.
To learn more about the models you can follow for starting an E-commerce business, read Types of E-commerce business models. Your setup can expand if you widen your horizons. If your target group has usually been middle-aged people, you can try younger and/or older audiences. For example, instead of aiming at dog lovers, how about selling to animal lovers? The social media can be a huge help here. Look up new trends and adjust accordingly. Conduct online surveys and introduce new products to accompany your existing one. If your company manufactures chips, throw in a dip. You can even stir up new trends like tie-dye jeans or glittery churros.
Think creatively! Extend 24/7 support to your customers and implement their suggestions. Listen to their complaints and sort out their problems. These are the best ways to grow your E-commerce business. Good luck!
