Introduction
Imagine such a platform where you don’t even need to go out of your house to buy your favorite things, just one click and your favorite product is waiting for you outside your house. welcome to the world of Ecommerce where shopping was never so simple and existed. Whether you want Immediate old fashion or you want the latest fashion trends or the first Immediate fresh grocery, you get everything, online Ecommerce has taken the world in its grasp.
1. Evolution of Ecommerce:
Ecommerce started in 1990 when the internet had just begun. Earlier people used to go to physical stores for shopping where they used to shop offline. Gradually as the internet became available people started shopping online and online stores started being built. The first online transaction happened in 1994 when a client ordered a pizza. From then till today, commerce has gradually grown a lot.
2. Rule of Ecommerce platform:
Today, Ecommerce platforms like Amazon, eBay, Flipkart, Sophie, etc. have become a medium for online buyers. Today, Amazon provides FBA (fulfillment by Amazon) model to its sellers which makes it easy for Amazon sellers, In which Amazon sellers send their products to Amazon warehouse and Amazon itself delivers the product, In which Amazon charges some of these charges are of different types depending on the product.
3. Impact of Technology:
Technology has given Ecom a platform. Today, personalized shopping experiences are being provided by using AI (Artificial Intelligence) or ML (Machine Learning), like when you shop on Amazon, AI itself starts showing you products according to your interests.
4. Role of payment gateway in Ecommerce:
A payment gateway is vital for Ecommerce transactions,
Payment gateway ensures safe and secure transactions in Ecommerce, nowadays multiple payment options are available such as credit card/Debit card, UPI, Phone pay, Google pay, and net banking, all this together provides a hassle-free payment experience to the customer.
5. Omnichannel strategy:
Today’s companies are adopting the Omnichannel strategy in which they provide shopping to customers through multiple channels, this means that you can buy the product you saw online by going to the store or you can buy the product you saw at the offline store by searching for it online.
6. Logistics and Supply Chain Management:
Logistics and supply chain management are very important in Ecom, efficient supply ensures that the product is delivered safely and timely so that the customer does not face any problems. Amazon, eBay, and Flipkart companies are further developing their own logistics network so that the delivery process can be made even more efficient, all these companies are developing technology to make the delivery process even faster and cost-effective by featuring drones and automation vehicles.
7. Influence of Social media:
Social media also has a huge impact on Ecommerce. Nowadays, on platforms like Facebook, Instagram, Twitter, and Pinterest, sellers target customers directly by advertising their products. Influencer marketing has also become a new trend in which the influencer shows the product to his followers and the followers of the influencer buy the product. In this, the influencer also charges some money from the company. There are different charges. This approach helps in generating a new customer base for the business.
8. Legal and ethical considerations:
Legal and ethical considerations are also important in the Ecommerce industry. For example, data privacy laws such as GDPR (General Data Protection Regulation) ensure that customer data is kept safe and secure.
9. Future trends of ECommerce:
The Ecommerce industry is growing day by day, Some future trends will define this industry.
Voice commerce: In the coming time, customers are going to shop using voice commands like Alexa, Siri, Google Assistant, etc.
10. Local impact of Ecommerce:
The impact of Ecommerce on a worldwide level is well known to many but the impact of Ecommerce has increased on a local level too. Nowadays people are shopping online even in small towns and villages and are also buying products from Amazon, Flipkart, eBay, and Shopify easily.