e-Commerce and its Applications

The online purchasing of goods and services has been trending for a very long time. In fact, in a survey, it was discovered that there is an impressive number of 2.14 billion online shoppers out there. This number is expected to grow in the coming years owing to more investments in e-Commerce app development, higher tractions of mobile shopping, and the growing influence of social media. To help you discover the possibilities of this technology, we have compiled a list of specific e-Commerce application examples. Read ahead and learn more about them.

What are the popular applications of e-Commerce?

Many Companies provide e-commerce website development and application development services, These are some of the common e-Commerce application examples that are trending in the tech space.

For retail and wholesale purposes

The most prominent application of e-Commerce is in the retail and wholesale business. The term ‘e-retail’ encompasses the selling of goods and services, for both B2C and B2B, using optimized online stores equipped with all necessities like electronic catalogs, shopping carts, etc. Mobile commerce or m-commerce is a subsidiary of retail e-Commerce, where users avail goods and services using the retailer’s mobile responsive site. Here the transaction is strictly done through E-payment and the users can pay for their purchases using debit/credit cards, internet banking, and virtual wallets.

Perfecting the marketing techniques

e-Commerce sites serve as the perfect platforms for gathering data to enhance user experience. The collected data includes purchase patterns, user behaviors and preferences, and more. This information comes in handy for tweaking marketing activities like price fixing, improving product features, and offering bespoke customer experiences.

Streamlining operations in the finance sector

A lot of finance-specific organizations are heavily investing in e-Commerce lately. Setting up such a website allows their customers to easily carry-out monetary activities, including cash transactions, balance inquiries, paying insurance and other bills using internet banking, and so on. If this website also offers information on online stocks and trades, with reference to performance charts and analytics, users can apply this data for efficient trading of stocks.

Managing supply chain activities

Many organizations in the manufacturing business have taken an interest in integrating e-Commerce practices for exchanging business information. Data related to the current market trends, back office data, and information pertaining to the purchase and sale of materials are shared through the platform. This practice facilitates the effective flow of raw and finished goods inside and outside the organizations.

The trending practice of online booking

At one point or another, most of us have availed of any online platforms to book a hotel, airline tickets, and other services. With technology transcending at impressive speeds, we are now able to avail of any services through a single point of access. All these countless bookings and reservations are possible because of the IBE or the internet booking engine. This service is most commonly used by the hospitality sector, and by the aviation industry.

Enhancing the bidding game

Integrated with e-Commerce technology, online auctions have opened up room for many and have introduced a new experience for the users. With the introduction of new tech, the auctions were able to gather more profit in recent years. The same process also goes into airline seat bidding, where, in most scenarios, window seats and the front-row seats are auctioned and sold at the highest prices.

Exploring the education sector

The education industry has begun to experiment with e-Commerce technologies lately. In the wake of introducing interactive classes, education institutions began utilizing e-Commerce technology. From video conferencing to linking various educational centres, the application of technology in this sector is progressively picking its pace.

The growing popularity of digital media

Many avid readers have now openly embraced e-books to satisfy their unique reading habits. The growing favor for these digital books is influenced by their increased accessibility, portability, and it being environmentally friendly.

According to the latest online studies, e-Commerce-powered retail sales are expected to surpass $6.54 trillion by the end of this year.

A well-defined e-Commerce marketing strategy will help online sellers significantly upscale their market growth. Integrating e-Commerce marketing tactics into your existing sales practices will help you reap the benefits quickly. For a quick sum up, here is how this practice will help you in the long run.

• Enhanced brand visibility
• Product Education
• Higher online traffic
• A larger pool of prospects

Below are some of the best e-Commerce marketing practices to boost your sales.

Invest in quality content for lead acquisition

Make it a priority to create unique and engaging content and share it across various social channels to scale brand awareness. By using content in e-Commerce marketing, brands get a chance to inform the world about their journey. Any piece of content can be used to educate and inform the audience about a new product or service update. By curating consumer-specific content, you will be able to engage with your prospects. Also, make time to answer any customer queries or confusion related to your business. All these will lead to creating successful connections with your potential customers.

The beauty of retargeting

As around 69% of online shopping carts are abandoned on average, a well-planned retargeting practice will ensure higher chances of conversion. By employing AI technology, businesses can learn about their prospective customers and their interests. By using the following data, brands can concentrate on building bespoke ads on various platforms to remind the customers about the product and to redirect them to finish the buying journey.

The importance of custom emails

Customized emails are one of the effective e-Commerce marketing strategies to connect with potential customers. Customers tend to enjoy reading personalized emails that inform them about the latest product updates, new discounts, and special offers from brands. In a survey, around 49% of customers reported looking forward to email campaigns from their favourite brands. With consistent efforts, this marketing strategy will bring higher ROIs. Make sure your email content is visually appealing to ensure better engagement.

We hope, by now, you have an understanding of what the common applications of e-Commerce are and how you can implement e-Commerce marketing strategies to boost your sales.

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