While the regional markets, such as malls, supermarkets, and convenience stores, were disrupted by the shutdown—the online marketplace continued to operate. This simply refers to the efficiency of an online selling or eCommerce business model. They can function in difficult circumstances to meet people’s requirements. During the pandemic caused by a novel coronavirus (COVID-19), an increasing number of small company owners see the necessity for online retailing. 

Data published by Statista reveals that between January 2019 and June 2020, retail platforms marked an unparalleled worldwide traffic surge, surpassing even festive season traffic peaks. 

In June 2020, retail sites had over 22 billion visits, up from 16.07 billion in January 2020. This is due to the global coronavirus outbreak, which has forced millions of people to remain at their homes in order to prevent the virus from spreading.

Another data showed that consumers favored buying groceries and products online throughout the pandemic. 

According to Statista, orders for online delivery have increased in the United States as a result of the coronavirus outbreak. In 2021, 70% of grocery customers bought nonperishable packaged foods such as cereals or sneaks, compared to only 58 percent in 2017.

The emergence of the so-called “e-commerce” during the pandemic has made this start to look like the future. Nowadays, in the era of the internet and big data, eCommerce represents a good solution to increase sales and reduce operating costs. 

With the development of technology and the rise in user behavior, online shopping has attracted more and more people. Statistics show that in 2015, the turnover of eCommerce in China reached 20.8 trillion yuan.

Further, we’ll explain the benefits and drawbacks of online retailing during the epidemic, as well as how eCommerce will impact the future of online shopping.  

The Advantages of Online Selling

There are plenty of advantages to selling your products online. The world is your market; you don’t have to worry about geographic restrictions or inventory limitations, and can sell to anyone who has access to the internet.

Here are some of the major advantages of selling online:

  • There are no geographical restrictions on your sales
  • You can reach a global audience
  • There’s no need to be concerned about stock shortages or limited inventory
  • All of your customer data is stored electronically instead of in a filing cabinet
  • Your consumers have access to your website 24 hours a day, seven days a week, and 365 days a year.
  • There are no big queues at the cash register
  • Giving your customers the option of shopping through an app that saves their personal information and speeds up the checkout process
  • Sales that are not pushed. You can choose to abandon your cart at any point instead of completing the transaction
  • Boosting quick sales by offering enticing discounts

The Disadvantages of Online Selling

With the rise of e-commerce, there has been a lot of discussion about what it means for small businesses. While there are many advantages to having an online presence, these businesses also face a number of challenges.

Here are some of the major disadvantages to selling online that you should be aware of before creating an eCommerce website for your business.

Disadvantages of an eCommerce business

  • Increased Competition. With more and more people buying online, there is increased competition for products and services. While you have the opportunity to reach a wider audience, this also means that it will be even harder to attract customers from other vendors. You may need to create more marketing strategies and spend more money on promotions to get the word out about your business.
  • Time Management. You may be so busy fulfilling orders and managing your business that you have little time to do anything else. This could affect how much time you spend with your family or friends, as well as your ability to grow as a person or as an artist (if that’s what you do). You might end up feeling like you don’t have much of a life outside of work.
  • Shipping Costs. While shipping may seem like an easy task now, it can become expensive if your business starts outselling expectations. It will also take up quite a bit of your time if you plan on doing it yourself rather than hiring someone else to do it for you.
  • The Environmental Impact of eCommerce. You may be thinking that this does not affect you but it does. Just think about how much plastic is used for packaging for each product sold online. This plastic increases the amount of pollution in our environment, which is already too high as it is.
  • A Rise in Taxes. You might be thinking that this is good for you, but if you do business out of state or across borders then these taxes will increase your production costs. The taxes come into play when you ship your products because they will be sent through a different channel than if they were shipped locally.

Conclusion

The standard retail model is changing because of the massive growth in online shopping. Consumers are looking to make their purchases online by purchasing items via their websites or apps instead of buying goods in retail stores. Global retail e-commerce sales hit $4.28 trillion in 2020, with e-commerce revenues anticipated to reach 5.4 trillion in 2022. The future is bright for eCommerce businesses because there will always be demands with or without the pandemic. 

Learn More

Looking for the right eCommerce development company? There’s a lot to consider when deciding on which platform will work for you. If you’re like most online business owners, you have several different aspects that your online store needs to carry out; it needs to be functional, it needs to look awesome, and you need it to be secure. In any case, picking the right eCommerce development company is vital for success. 

Look for an eCommerce agency that’s a good fit

Sometimes it’s hard to know where to start looking for an established eCommerce development company. There are scores of them out there, and it can be hard to sift through the noise. 

When starting an online business, the most important thing is choosing an eCommerce development company that’s right for your project. There are many factors to consider such as budget, capabilities, past performance, customer satisfaction, and more. Before you even start looking for an agency you should do your research to see if they’re reputable and have a track record of delivering successful projects.

Be clear about what you want and what your customer needs are

When you choose eCommerce developers, you need to genuinely want what they can provide. This doesn’t mean you have to sign up for every email or agree with everything they say. Most importantly, it means understanding your audience. Are they long-term customers with lower budgets who just need a little bit more encouragement? Or are they simply looking for cheap products and services? If it’s the former, then searching for discounts and introductory offers is absolutely fine – you’re giving them a chance to save money if they’re careful.

Look for developers that are constantly keeping up with TRENDS

When starting an eCommerce business it is important to look for developers that are consistently going above and beyond what is required by existing stores in order to ensure that their applications are functioning properly and they are providing value for their clients. It doesn’t matter if you are relaunching an online store, updating an existing one, or creating a new online venture; you can never have enough people working on your project so make sure you find the right team that will complement each other very well.

Having the right development company can make the difference between creating a successful e-commerce website and losing money on it. E-commerce sites are evolving rapidly and there are numerous Development companies offering solutions for the different aspects of running an e-commerce site.

Final words

Choosing the right eCommerce development company can be tricky. There are hundreds of companies out there with different offerings. Each with its own pros and cons. Making the right decision requires knowing the company’s track record and what they have done for clients in the past. It’s also important to research what they are offering as it pertains to the target market. After all, receiving a project from them doesn’t mean they are going to push you into something that isn’t right for your business.

Imperial IT is an e-commerce development companyWe understand the current IT landscape and we provide custom e-commerce solutions to help you grow your business. We understand the current trends in the industry and how to keep yourself competitive in today’s market with modern tools and techniques. We focus on agility, innovation, and client service excellence.

Learn More

Crypto payments are fast, secure and anonymous, they are cheaper to process and hence are widely used by businesses in all areas. Best of all, there is no chance of Chargeback or fraud! We are proud to provide one of best crypto payment…

Learn More