Now that digital disruption has moved from business buzzword to the new normal, it’s little surprise that new market entrants are on your radar. The companies which have embraced cloud have a competitive advantage over the ones who have not adopted it yet. Market-savvy companies who jump on the E-Commerce bandwagon will not only retain a competitive edge, but will add new … Lisa Michaels is a freelance writer, editor and a striving content marketing consultant from Portland. E-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. This advantage allows you to build greater visibility for your business and access to prospective customers from different locations without geographical barriers. Finally, you’re also feeling competitive pressure from existing companies who have been on your radar for a while. By that time, e-commerce is expected to account for a full tenth of all retail sales in the U.S,” states Forrester. By giving colleagues across your entire business more time to do what they do best. No matter what it is that sets your business apart from the rest, a B2B e-commerce solution can help you enhance it. You ought to check on your digital marketing strategies and ensure they are up-to-date. If one side has a huge advantage over the other, it’s not a fair fight and would end in mismatches. Unfortunately for e-Commerce, the same doesn’t hold true. In this article, we highlight three reasons why every entrepreneur should consider e-commerce as part of its business strategy in the post-coronavirus and presently highly-digitized marketplace. Look to your competitors for inspiration when it comes to digital services, and take measures to keep pace with them. E-Commerce is growing immensely, which is bringing in even more revenue to businesses than a retail store alone. That means less time spent on taking the same orders every month, entering the data into your systems, and fixing the inevitable human errors. E-commerce retailers would need to integrate sustainability goals into their organization and operations. For example, with the digital infrastructure that e-commerce solutions offer, a business can eliminate the bills it would normally accrue on rent and maintenance of a physical office building, reduce transportation costs on business itineraries by opting for teleconferencing options and promote its business online to prospects at a cheaper rate, and with greater convenience. Strategies that helped you stay ahead of your competitors in years past might not prove as effective in the rapidly changing business landscape. If it’s the use of modern technology that’s giving your youngest competitors the edge, why not just follow suit? Unfortunately, e-commerce is similar to traditional business in one regard: most e-commerce initiatives will underperform or fail in their first year. But the path toward digital transformation mastery isn’t without its obstacles. This reality played very strongly in the wake of the coronavirus outbreak, as businesses globally had to resort to digital platforms and e-commerce solutions to be able to stay open during the lockdown. You could try to match or beat them with a competitive pricing strategy, but the question you should ask is: do I really want to? “With just one extra back-office assistant, Joolz has grown at least 35 percent per year over the last 2 years.”. AI algorithms are already opening up new possibilities today and will play an even more important role in e-commerce in the future. What’s more is the fact that with ecommerce, you can automate repetitive daily tasks like order and payment processing or customer management, improving turnaround time, freeing you up as the business owner to focus on other things like expanding your coverage, further developing your product or service, and increasing productivity. Operating e-commerce websites is a great way to draw in more customers. The analysis thus performed for the AI in e-commerce market considers factors such as market scope, market segmentation, current industry trends, competitive landscape of … Submit your stories now via social or: Thank you! Ensuring your web store software works well with your established systems will help you match even your most tech-savvy competition in terms of performance. One of the topics they tackled was the reason why your peers are working to improve their IT infrastructure. The result is an exponential increase in the number of eCommerce firms, where each one needs to avail the latest technological strategy to stay ahead of their competition. You’re not alone. privacy policy and European users agree to data transfer policy.