What is e-commerce

①What is e-commerce?

E-commerce, also known as "virtual store", "online shopping mall", "electronic space store" or "electronic shopping mall", is a typical organizational form of electronic retail business and is a shopping mall built on the Internet. It is a place where customers can shop from their home computers, merchants can sell products and services, and it can reduce the cost of maintaining the actual store management and sales.

②What are the advantages of e-commerce?

- Online shopping is one of the major advantages of e-commerce as customers can choose the best products from a variety of goods. E-commerce allows consumers to purchase products anytime and anywhere. According to recent research, the Covid pandemic has accelerated the use of digital platforms for shopping. Items can be selected from the comfort of your home using your phone or computer.

- Unrestricted access to the global consumer market As a seller, you can display products to customers around the world. This cannot be achieved through localized markets; moreover, with the invention and trend of digital marketing, businesses can connect to their customer base through the Internet. Products you want to sell can be posted online and available to customers with just a few clicks.

- Variety of choices is a significant advantage of e-commerce for customers. A limited range of products can be purchased in stores in their area. In contrast, the number of options available on an e-commerce store is unlimited. With multiple options for each category, there's something for every user. Find the product of your choice without any hassle by roaming through different stores. Additionally, product descriptions can be used with products that have in-depth reviews.

- Easy cancellations and refunds You can change your mind if the product you ordered doesn't meet your expectations. If you don't want to buy, there is no obligation to accept it. You can cancel the product mid-stream and apply for a refund. Many sites like Amazon also give customers a week to return a product if they don't like it. If there are any issues with the item or it has been tampered with during shipping, you have the right to complain and ask for a refund. This freedom is one of the advantages of e-commerce for customers.

- Discounts and Coupons Today, most customers shop online and pay via digital wallets. While various banks offer discounts for online shopping, even e-commerce companies offer discount coupons for online transactions. This way, both the banking and shopping processes become hassle-free for customers. Save more on your purchases with discounts and online deals every time you shop. More and more customers are encouraged to use digital wallets, which is one of the great advantages of e-commerce business for both vendors and consumers.

- The advantages of e-commerce for enterprises The market of e-commerce business provides a very large market for production, marketing and distribution business. Anyone who wants to sell any product from anywhere in the world can join the partner program offered by e-commerce websites. Affiliate marketing is one such business where non-vendors can easily earn money by promoting certain products.

③The future of e-commerce

-The sharp growth in e-commerce due to COVID-19 lockdowns has increased online retail's share of all retail sales to 19% from 16% in 2020, according to a report released by the United Nations Conference on Trade and Development.

- The development of economic globalization has made trade exchanges between countries around the world more and more frequent, and the popularity of the Internet has made it easy for consumers to "shopping globally" without leaving home. Cross-border e-commerce has entered a stage of rapid development. In recent years, with the improvement of Internet infrastructure and the construction of a global logistics network, cross-border e-commerce has maintained rapid growth and the scale of transactions has been expanding. Currently, cross-border e-commerce has reached the forefront of the capital market.

- Under the impact of the "new consumption" concept of high quality, personalization, diversification, and brand emphasis and the trend of consumption upgrading, and with the gradual improvement of the supply chain and the effective improvement of logistics levels, the market will be further expanded in the future. The industry will usher in a golden period of development. At the same time, in the field of "Internet + foreign trade", more and more small and medium-sized enterprises will carry out foreign trade operations, giving birth to many world-class corporate brands and promoting the structural adjustment and upgrading of the global foreign trade industry as a whole.

④What is drop shipping?

Drop shipping means that you can sell this product and wait until

After the store places an order, it provides the customer's delivery address to the supplier.

and pay the price. The supplier will ship the goods and wait until the customer confirms receipt.

The platform will return your principal and the difference in price. The advantage is that you don’t need to purchase goods;

There is no stock either.