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What is e-Commerce?Electronic commerce, commonly known ase-commerce is …buying and selling of product orservice is conducted over electronic systems such asthe Internet.Modern e-commerce typically uses the WWW at leastat one point in the transaction’s life-cycle, although itmay include e-mail, mobile devices, social media aswell. Source: wikipedia.org
e-CommerceElectronic commerce draws on technologies suchas mobile commerce, electronic fundstransfer, supply chain management, Internetmarketing, online transaction process, electronicdata interchange (EDI), and inventorymanagement systems, and automated datacollection systems.Source: wikipedia.org
Types of e-Commerce businesses?Pureplay – an online retailer whoonly sells online without thesupport of physical outlets.(No bricks – just clicks)Multi-channel or Omni-channel–market and retail via everypossible channel.(Bricks + Clicks)+
• 96% of online shoppers now search the web forproduct information, price comparison and peersreviews before making a purchase online• Over 65% of in-store purchases are initiated on theweb.ACT retailers need to step up their game and takeadvantage of the opportunities that e-Commerceoffers.
Online Sales system options“I’ve come to view platforms a little bit like cars.A proprietary software is a bit like a Ferrari,while open-source CMS like WordPress,Joomla and Drupal are like Toyotas.There aren’t many Ferraris and there are evenless specialist mechanics for them, so you payaccordingly. On the other hand, plenty ofpeople can service Toyotas.”Elizabeth Ball, Founder, It’s in the Stars
Taking the first steps(What to do first when I leave today)
First Steps….RESEARCH• Identify a Niche• Look around- network and communicate, listen tocomplaints – may be you can provide a solution• What sells well online?• Plan for competition• Understand your potential customers• Experience buying yourself• Validation by sharing your concept
Same considerations as a shop-front• Pre-planning, strategy development & budgets• Competitors• Suppliers & partnerships• Buying• Visual Merchandising• Customers & Staff• Stock Management, Logistics and Outsourcing• Payments & Security• Shipping, Collection & Delivery• Performance & Optimisation• Marketing
Next steps (after the first steps)• Customer Database• Optimising the site –design, photography, video, descriptions• Marketing Tools• Driving Traffic (SEO/SEM)• Social Media• Optimising mobile devices• Loyalty programs• On-line customer service• Measurements & Evaluation
Learn from other sites [HANDOUT]Inside Retail Magazine’s Top 20 AustralianE-commerce Sites*1. Big W2. The Iconic3. Sportsgirl4. Deals Direct5. Kogan6. The Iconic7. OzSale8. Catch of the Day9. Cotton On10. Style Tread11. Gumtree12. Shoes of Prey13. Westfield14. Brands Exclusive15. OO16. J.B Hi Fi17. Birdsnest18. Target19. Appliances Online20. Booktopia*Excludes online supermarkets
Learn from other sites [HANDOUT]Inside Retail Magazine’s Top 10International E-commerce Sites1. eBay2. Amazon3. ASOS4. Book Depository5. John Lewis6. Apple7. StrawberryNet8. Etsy9. Net-A-Porter10. EzibuyShelley’s personal favourite:Zappos.comInside Retail have used acombination of factors to rankthe businesses: including easyof use; high traffic levels;success and profitability; lookand feel; value adds; extensiveproduct range; popularity; andfulfilment.
The last word“The products that sell best arethe ones that solve a customer’sdilemma. The service is asimportant as the product itself.”Jane Cay, Founder, birdsnest
Resources [HANDOUT]Let’s look at someaward winninge-Commerce sites