What is e-commerce?
E-commerce is the buying and selling of good or services via the internet, and the transfer of money and data to complete the sales. It’s also known as electronic commerce or internet commerce.
Today, questions about e-commerce usually center around which channels are best to execute business online, but one of the most burning questions is the appropriate spelling of e-commerce. The truth is, there isn’t any one that’s right or wrong, and it usually comes down to preference.
Here’s a few of the variations of how e-commerce is spelled:
• e commerce
(In other words, “what is e-commerce” is far easier to answer than how to spell it, so we may have to agree to disagree on the proper spelling).
Anything involving technology has often raised questions by the public; so has e-commerce. Since selling online requires other skills as well, many people look for advice from experts. Moreover, with the constantly changing marketplace, expert advice is a lifesaver for many.
In his recent interview, Can Mandir answered the most common questions related to e-commerce. Below are all you need to know from the interviews
Why did 2020 impact e-commerce positively?
The circumstances brought in by the pandemic were in favor of e-commerce because they arose a need for home deliveries. The outside world was declared a threat, and people were advised to stay inside. Consequently, going out to shop wasn’t an option anymore.
Therefore, consumers reached out to online sellers to fulfill their needs. The growing need for online sellers and the wide variety provided by these sellers lead to the ultimate growth of e-commerce during the time of Covid.
Is the growth witnessed by e-commerce temporary?
No, the growth witnessed by e-commerce is not temporary in any way. Can Mandir too quotes, “when it comes to online shopping, consumers are craving it more than ever.” In addition to that, consumers have realized that online sellers provide greater benefits. It is also easier now to shop from any part of the world.
Therefore, the growth witnessed by e-commerce is likely to stay the way it is, if not improve. So, it is advised that offline sellers shift to online websites or use them as an alternative for the time being.
Are shipping restrictions a concern?
Although many sellers were worried about shipping restrictions, they are not a matter of concern. There are certain restrictions, but they do not obstruct the normal course of shipping from one place to another. Therefore, online sellers don’t need to worry about shipping restrictions. Moreover, “there are not that many restrictions on shipping terms or policies,” quotes Can Mandir.
Does crypto have a place in dropshipping?
It looks like that cryptocurrency will have a place in dropshipping. No one as of now deals in crypto in the wide sector of e-commerce, but things are likely to change. Can Mandir believes that crypto will soon be found in dropshipping. So, dropshippers should prepare for the near future.
Moreover, the recent announcement made by Tesla has also reflected upon the future of crypto.
Who can set up a dropshipping venture?
There are certain requirements that one needs to establish a dropshipping venture. These requirements were listed by Can Mandir in his interview. Therefore, anyone who has all the following things can set up a dropshipping venture:
Electronic devices like smartphones, laptops, or computers.
An internet/ wifi connection
Passion for dropshipping
Willpower, dedication, and time
What can a dropshipper do to succeed?
Since the online market is changing continuously, it can get difficult to figure out what will work and what will not. Therefore, it is necessary that you listen to what the experts from the field have to say.
Can Mandir, in his interview, gave some pointers on what one can do to succeed as a dropshipper. Below are some of these points:
Learn about email marketing and adopt it to make your consumers feel like they are taken care of.
Use email to take consumer feedback and utilize that information to better your dropshipping venture.
Keep an eye out for market trends and think with a long-term perspective. Having foresight for future market changes can also give you an edge over your competitors.
Make use of advertisements and make sure the public knows about your venture and all that it offers.
Aside from all that mentioned above, give time to your venture and analyze your business growth very well.