Shivila

When the internet is used to sell products or materials, it is called e-commerce. All the different facets of e-commerce happen via the internet, starting from order placement to order fulfillment. Even the payments and returns happen using the internet. According to rough estimates, e-commerce platforms are expected to grow by 84% by the year 2024.

In today’s busy life, when time has become a precious resource, it has become almost impossible for people to visit the market in flesh and bone. People want to have the luxury of purchasing the product of their choice from the comforts of their home. This has prompted almost all businesses to make their foray into the e-commerce platforms, be it big or small.

There are five types of e-commerce models:

  • Business to Consumer(B2C): In this model, the actual transaction takes place between the customer and the company concerned. This is the most popular e-commerce structure.
  • Business to Business(B2B): It refers to one company selling goods and services to another business like a wholesaler and retailer. This model is not end consumer-facing.
  • Direct to Consumer(D2C): This model is the newest and ever-evolving e-commerce structure. Here the products or services are directly sold to the end consumers without the help of any third party. Examples can be the websites like Instagram, Facebook, Snapchat, etc.
  • Consumer to consumer(C2C): In this model, the transaction takes place between consumers. One consumer sells the goods and services to another consumer. For e.g., Ebay, Fivver etc.
  • Consumer to business(C2B): In this model, individuals sell their services or materials to businesses. Examples of this can be photographers, consultants, freelance writers, etc.

In all these models, the connecting agent is the Information Technology services which act as a bridge that connects the consumers and the businesses. It not only helps the company increase its visibility among the masses but is also a helpful tool that makes the day-to-day functioning of the companies easier. It streamlines the various processes and makes managing the business more straightforward. 

The benefits that the e-commerce portals can reap from IT services are immeasurable. Listed below are some of the ways in which business owners can use IT for e-commerce platforms to save both time and money and use it to gain a competitive edge.

Helps in inventory management

The goods and materials that the company stocks for sale or distribution are termed as inventory. The management of inventory is a discipline in itself that needs proper planning and smooth execution.

Every business makes inventory management its priority. With the help of technology, the management of inventory becomes a more manageable and less time-consuming process. With the databases stored in the cloud, it becomes easier to access them from anywhere with just a few clicks of the mouse.

Early replenishment of any product is also possible with the help of technology. Systems are designed to let the business know when the stocks of a particular product are getting over. It saves the time that would otherwise have been wasted in manually checking the supplies, thus leaving the business with enough free time to focus on its core areas.

Helps in providing personalized services 

Knowing the customers and their choices is essential for businesses. It enables the companies to offer customized services to the customers, thus creating a relationship with them. This relationship is necessary for retaining the customer and repeating the business.

To know the customers in online mode data and processing the same data is very important. With proper analysis of data, the business can dissect the individual preferences of every customer and can better target their customers with the products of their choice.

Apart from that, the correspondence between the customer and the business helps the business work on its shortcomings to achieve customer satisfaction and goodwill.

IT helps in easy returns.

Returns and e-commerce go hand in. Hassle-free returns ensure that the customers purchase the products without the worries of going through the arduous and cumbersome return process if the products do not fit their criteria.

In helping with smooth returns, IT has a vital role to play. From initiating the return process to refunding the amount to the customer’s accounts, the whole process happens seamlessly if proper IT solutions are deployed, leaving both the customers and businesses happy and satisfied.

Conclusion

E-commerce is growing both in popularity and in numbers. It is the future marketplace and is going to expand in leaps and bounds. Without proper IT help and support, sustaining the e-commerce platforms is not possible. With hundreds of options available to the businesses, choosing an appropriate solution that augments the brand’s popularity is an exercise that the companies must do for their benefit and success.