The Modern Marketplace: What is E-Commerce?
The days of counting coins and mailing checks are all but over, soon to be a nostalgic memory. Nowadays, you’d probably order a book from Amazon.com, bid on an antique clock on eBay, or even check out at the grocery store with Apple Pay without a second thought. These are all everyday examples of E-Commerce. A way of life for consumers, these features form an important component of contemporary business. Chances are, your company has at least basic E-Commerce functionality—imagine how much business you’d lose if your customers couldn’t purchase your products with a few clicks!
However, E-Commerce encapsulates much more than a simple “Buy Now” button. If you feel overwhelmed or confused by the complexities of E-Commerce platforms, you probably aren’t taking full advantage of them. At SCS Cloud, our team of specialists can help you tackle even the toughest E-Commerce conundrums and assist you in making the most of your software. Read on to learn more about E-Commerce and how you can use it to bolster your business.
The term “E-Commerce” is actually a catch-all for a multitude of digital financial functions. Tech Target’s Margaret Rouse describes it: “E-commerce (electronic commerce or EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet,” between businesses and consumers or businesses and other businesses. In this digital age, the scope of E-Commerce has grown exponentially.
The Evolution of E-Commerce
The history of E-Commerce can help you better understand its varied uses. In her Business News Daily article on the subject, Katherine Arline explains: “E-commerce was first introduced in the 1960s.” Back then, E-Commerce comprised electronic methods of sending payment information, such as “electronic data interchange (EDI) on value-added networks (VANs).” As time went on, “the medium grew with the increased availability of Internet access and the advent of popular online sellers in the 1990s and early 2000s.” In the last 15 years, E-Commerce has continued to expand. Arline notes: “As mobile devices became more popular, mobile commerce has become its own market. With the rise of sites like Facebook and Pinterest, social media has become an important driver of e-commerce.” Nowadays, this software embraces myriad applications. The SCS Cloud team can help you determine which features are right for your company and customize your software accordingly.
Statistics on this Software
Since E-Commerce is all about transactions, it makes sense to look at it by the numbers. Here are some calculations relating to this computerized system:
- According to Arline: “As of 2014, Facebook drove 85 percent of social media-originating sales on e-commerce platform Shopify.”
- In 2013, “worldwide e-commerce sales reached $1.2 trillion, and U.S. mobile sales reached $38 billion.”
- Arline notes: “more than 40 percent of Internet users – 1 billion in total – have purchased goods online.”
- Market research intelligence agency, Mintel, reports: “over two thirds (69 percent) of US online adults shop online at least monthly, with 33 percent shopping online every week n 2015, up from 24 percent in 2014.”
- Per Statista’s compilation on the topic, “global mobile app revenues are projected to surpass 30 billion US dollars in the coming year.”
- According to “E-Stats 2014: Measuring the Electronic Economy,” a report published by the US Census Bureau, “E-commerce shipments were $3,584.0 billion in 2014, up 8.1 percent from the revised $3.315.7 billion in 2013…Shipments from e-commerce accounted for a larger proportion of all manufacturing shipments with 60.9 percent in 2014 and a revised 57.1 percent in 2013….Sales from e-commerce for U.S. retailers were $298.6 billion in 2014, an increase of 14.3 percent from a revised $261.2 billion in 2013.”
Our E-Commerce Solution
At SCS Cloud, we help our clients harness the capabilities of cloud computing in every area of their businesses. With its ability to remotely access information, link devices, and accomplish numerous tasks, the Cloud is particularly suited to E-Commerce projects. We typically use NetSuite’s renowned SuiteCommerce platform to build solutions for our clientele.
The primary benefit of this system is its “omnichannel” features. SuiteCommerce allows for streamlined shopper experiences on various devices. Modern customers expect to have the same shopping experience, whether they’re browsing from a smart phone, tablet, or laptop. This means that separate E-Commerce programs for each simply won’t do. SuiteCommerce provides personalization across all channels – thus, “omnichannel.” This enhanced customer experience operates from a single unified platform and includes:
- Point of Sale functionality.
- Easier order management and simpler order fulfillment. SuiteCommerce’s intuitive interface allows you to handle every customer’s needs from a single platform. The Cloud also allows you to instantly share data with collaborators, such as vendors or shipping partners. In addition, you can plan for the future with real-time inventory updates.
- Better branding, especially since SuiteCommerce collects data to individualize customers’ purchasing. SCS Cloud can also help you design one or more sites to suite your exact specifications and reflect your company’s unique image.
- More effective marketing, with the entire process automated and data tracking to highlight important opportunities.
- Seamless integration between other programs, such as CRM (Customer Relationship Management), marketing, merchandising, financial tracking, and more.
These are just a few of the vital features SuiteCommerce provides.
Contact SCS Cloud Today
Your business needs omnichannel E-Commerce software to keep up in the twenty-first century marketplace. Contact our team of specialists today to schedule a free consultation and learn more about our E-Commerce solutions.