An Electronic Commerce (E-commerce) platform allows buying and selling over the Internet.
Hence, an E-commerce platform functions in several market segments. These segments includes; business-to-business (B2B), and business-to-consumer (B2C). As well as consumer-to-consumer (C2C) and consumer-to-business (C2B).
In this blog, we will provide you with info about E-commerce Platforms. So, if you’re thinking of starting a digital business, this is your chance.
Thus, we will focus more on the following:
- What is an E-commerce platform?
- History of E-commerce.
- How does an E-commerce platform function?
- Basic Features of E-commerce Platforms.
- Why is an E-commerce platform important?
- Basic components of E-commerce platforms.
- Benefits of E-commerce platforms.
- Types of E-commerce Platforms.
- Examples of E-commerce platforms. wikipedia
What is an E-commerce platform?
An Electronic Commerce (E-commerce) platform allows buying and selling over the Internet.
Hence, an E-commerce platform functions in several market segments. These segments includes; business-to-business (B2B), and business-to-consumer (B2C). As well as consumer-to-consumer (C2C) and consumer-to-business (C2B).
History of E-commerce
Most of you will agree with me that you’ve shopped online at some point. Hence, if you shop for anything online, either goods or services, you’ve taken part in e-commerce.
Well, we will tell you a brief history of e-commerce. E-commerce started earlier in the 1960s.
Hence, some companies used electronic systems like Electronic Data Interchange to transfer documents.
Yet, it wasn’t until 1994 that the very first transaction was carried out. This transaction was the sale of a CD between friends. it was carried out through an online retail website known as NetMarket.
Since then, the company has undergone several changes. Also, traditional retailers were moved to embrace new tech to stay afloat.
Now, people can connect with businesses using their smartphones and other devices. Hence, all they have to do is to install the apps on their device to make purchases.
How does an E-commerce platform function?
An E-commerce platform functions through a series of instructions. Hence, it uses website code and databases. As well as 3rd party apps for payment processors or payment gateway.
Also, it uses SSL certificates to secure and convert all transferred data. Hence, sensitive data like; credit card info should not be stored in the website’s database.
That’s only when the platform follows all required rules that’s including PCI Compliance.
However, an E-commerce platform allows you to access its platform. This can be done via search engines, referral traffic, paid ads, etc.
Now, the E-commerce platform connects to its database. And this contains data about the website’s categories, products, images, etc.
Once you’re done browsing the website you can add a product or service to your virtual shopping cart.
After that, you can now proceed to make payment. Hence, you can make payments using your credit card. And note that your credit card info is safe.
Also, your info is encrypted and sent to a Payment Gateway. However, this payment Gateway can be PayPal or any approved payment platform.
Hence, once your order and payment are settled, you will be given a transaction number. As well as estimated shipping time, postal tracking number, and unique transaction number.
Basic Features of the E-commerce Platforms
An E-commerce platform should have these top features:
Interface and Design Options
An E-commerce platform should come with a user-friendly interface. Hence, some of these interfaces need great skills.
Hence, these skills include; HTML knowledge or WordPress experience.
However, it is advisable to try out several platforms to find the one easier and suits you best.
Thus, be sure to select a platform that allows you to create product pages as well as blog posts.
Also, most e-commerce platforms offer designs and themes to help create your design.
However, be sure to settle for a design that suits your business best.
Store management system
A store management system is essential for every e-commerce platform. Hence, it is divided into three elements.
The product management system allows you to upload products to your website. As well as grouping and mapping products, and setting up flexible catalog filters.
The order management system accounts to handle customer’s orders. Hence, this includes order tracking, shipping service API, and email notifications.
The return management system is in charge of your return policy. It contains return rules and types, and prints invoices. As well as update statuses, place and approve requests, etc.
Payment Processing
An Ecommerce platform comes with several payment options. These options may include payment via payment gateways like; Venom, PayPal, stripe, etc.
Hence, this platform also allows you to make payments using your credit cards. As well as eWallet, ACH, and even cash on delivery.
Also, some platforms have advanced payment processors linked to your bank account. Thus, you can make an order and make payment with ease.
Reliable Security
Having reliable security is very important for Ecommerce platforms. Hence, Data violations and leaks have destructive effects on your business.
However, make sure your e-commerce platform meets the PCI security standards. These are 12 rules for websites that work with payment info.
Also, your e-commerce platform should have an SSL certificate. This is a file that allows a browser to carry out sensitive transactions safely.
Support
With Support on your e-commerce platform, you can settle customers’ issues. As well as cut down downtime.
Hence, an e-commerce platform comes with a collection of supports. These supports include; FAQs, how-tos, and guides to help you with some issues.
Also, Ecommerce should come with forums or Q&A areas, where you can ask for advice from other users. As well as customer reviews to find out what customers thinks about your platform.
Why is an E-commerce platform important?
Running an online store can be fun but it can also be complex as well.
Hence, with an e-commerce platform, you can manage your business activities. And also avoid the stress of dealing with each aspect of your business.
Also, e-commerce platforms have different elements. These elements can help you grow your online business without having business issues.
That’s not all, an e-commerce platform is also cheaper and more comfortable to access.
Thus, with e-commerce platforms, you can handle several tasks. Also, you can avoid stressing yourself and wasting a lot of time.
Hence, an e-commerce platform handles purchasing process for your customers.
It also prevents system failures and technical issues. As well as helping to troubleshoot these issues when needed.
Basic components of E-commerce platforms
Below are the basic components of E-commerce platforms:
Easy navigation
Having an amazing e-commerce design is cool. But the ease of the customer experience is more important.
Hence, your e-commerce platform should be easy to navigate through it. Also, it should come with some useful navigation tools. These tools include; a search bar, cart, settings, and other useful info.
Mobile Optimization
Your e-commerce platform design should be sure to work well on smaller screens. Because most online purchases are being made using smartphones and tablets.
Checkout
This is an important part of e-commerce platforms. Hence, make sure that products added to the cart by visitors are retained until they return to your site.
Having a persistent cart makes it easy to find products and put them back in their cart to begin checkout.
Customer support
Customer support is one vital yet easily unrated aspect of e-commerce Platforms.
Hence, this component is essential, especially for growing stores. Thus, answering customer questions quickly helps them overcome their fears. As well as build trust in your brand and products.
Shipping and return info
Be sure to describe your basic shipping policies to your customers. This includes delivery times and minimum orders for free shipping.
Thus, if there is a processing delay, the info should be posted on your homepage. As well as product pages so that visitors will know what to expect.
Contact info
The easiest way to engage your site visitors is by getting their contact info. Hence, this includes those that didn’t purchase their first visit.
Thus, this make it easier for you to contact them later on and possibly convince them back to your site.
Benefits of an E-commerce platform
Here are some major benefits of E-commerce platforms:
Low costs
This is one major benefit of Ecommerce platforms. An online store is less costly than opening a physical store.
Also, you don’t have to spend much on finishing, paying rent, or hiring workers.
Hence, an e-commerce platform portal is more organized, which saves you some money.
Speed and Flexibility
Opening an e-commerce store is easier and faster than opening a physical store.
Also, an e-commerce platform, displays, and product ranges can be changed easily. While a physical store requires careful preparation to make changes.
Hence, when it comes to speed, e-commerce sites outperform retail outlets.
Quicker Buying Process
An e-commerce platform allows you to buy goods and services from the comfort of your home. Hence, you don’t have to plan a shopping trip to an outlet to make a purchase.
Also, online stores are open 24/7 while physical stores have their working hours.
Wider Product Catalogue
A physical store limits your choices when ordering products and services.
However, an e-commerce platform offers you a large variety of products and services.
Hence, customers can easily purchase products. And also access reviews and consumer feedback on the product they want to purchase. Thus, this helps them to select the right products.
Type of E-commerce platforms
We have different types of E-commerce platforms. But in this article, we will take a look at the four major types of E-commerce platforms:
Business-to-business (B2B)
This is the selling of goods and services between two businesses. Hence, this includes online directories, and product and supply exchange websites. These websites allow businesses to search for products and services. And make payments through electronic interfaces.
Business-to-consumer (B2C)
This is a popular type of e-commerce platform. It involves an exchange of goods and services from businesses to consumers.
Consumer-to-consumer (C2C)
C2C is a type of e-commerce where consumer’s trade goods and services with each other online.
Hence, payments are mainly carried out through a third-party payment platform.
Thus, a good example of this type of Ecommerce platform is eBay. And also Craigslist.
Consumer-to-business (C2B)
This type of e-commerce allows consumers to make their goods and services open online. Thus companies can bid and purchase these products and services online.
Hence, a good example of this type of e-commerce is iStock and job board.
Examples of E-commerce platforms
Below are some top e-commerce platforms:
Squarespace
Squarespace is a complete website builder. It allows you to customize your website as well as create an online store with ease.
However, here are Squarespace pricing plans:
Personal
23 USD per month.
16 USD per year.
Business
33 USD per month.
23 USD per year.
Commerce (Basic)
36 USD per month.
27 USD per year.
Commerce (Advanced)
65 USD per month.
49 USD per year.
Visit https://www.squarespace.com/enterprise to customize this plan.
Hence, you can https://www.squarespace.com for more info.
Square Online
Square Online is an e-commerce platform. This platform allows you to create websites for small businesses.
Also, this plan comes with a free plan and:
Plus
29 USD each month (Yearly).
Premium
79 USD each month (Yearly).
For more info, visit https://squareup.com
Ecwid
Ecwid allows you to free mobile apps for iOS and Android. Hence, you can also use this software to manage your store and sell with ease.
Thus, Ecwid has a free plan and other amazing plans like:
Venture
14.08 USD each month (Yearly).
19 USD each month (Monthly).
Business
29.08 USD each month (Yearly).
39 USD each month (Monthly).
Unlimited
82.50 USD each month (Yearly).
99 USD each month (Monthly).
However, you can visit https://www.ecwid.com for more info.
Other examples of E-commerce platforms
Shift4Shop
https://www.shift4shop.com
Shopify
https://www.shopify.com
Wix
https://www.wix.com
Weebly
https://www.weebly.com
BigCommerce
https://www.bigcommerce.com
WooCommerce
Big Cartel
https://www.bigcartel.com
