Today every one of us knows E-Commerce implies electronic commerce. E-Commerce basically means buy, sell and exchange products, services, and information through computers over the internet. On an E-Commerce platform, a person can deal with customers around the world. People perform buying and selling of goods and services over the internet network. Even payments can be made using credit cards. For its ease and simplicity E-Commerce has instantly become popular.
It’s common to see people spending their time daily more on the internet for business, marketing, entertainment, work, and learning. Now a day’s all the commercial and social activities are connected to the internet. And without E-Commerce, the world around the internet is impossible and unimaginable. For this reason, E-Commerce has become important in our daily life.
As E-Commerce is the demand of present time, businesses, customers, and nations, in a few years time will become compulsory to use for any transaction. Have you ever wondered what is the reason behind it why is E-Commerce in so much demand?
E-Commerce being the online buying and selling process is the primary reason behind the growth of Internet users. E-Commerce for the Internet is as important as a heart is for a body. A lot of reasons present for customers today prefer shopping online include convenience, price comparisons, no crowds at stores, no need for physical travel, and gifts to our loved ones that can send more easily. According to a report, worldwide e-commerce sales are expected to grow to 4 Trillion Dollars by 2020.
E Commerce is significantly necessary due to following reasons:
- Wide variety of products
- Lower Cost than traditional shopping and selling
- Less time purchasing and faster consumer consumption
- Exciting offers and shopping deals notifications
- Transparent business system
- Faster business expansion
- More employment opportunities
- Enhancement in digital products and services
- Low maintenance cost
- Multiple selling and marketing options
- More Customer retention than traditional shopping
- Quality compulsion for sellers
- More Contribution of customers in brand success
- Personalized customer experiences
- Speeding up the national economic development
- Enhancing Technology development in villages
The difference between E-commerce and commerce is the same as in email and mail. It is an electronic enhancement and a modernized solution to an old-fashioned process. If commerce is physical transaction of buying or selling goods, e-commerce is its electronic equivalent – selling and buying online. E-commerce represents the spirit of convenience due to the ease of transaction it brings along. E-commerce is an indirect product of web development. Developers create websites using formal computer languages – of which many sites are used exclusively for online transactions.
With the emergence of IT, the concept of doing business has changed in today’s competitive and technologically savvy world. Performing business strategically, tactically and successfully is quite essential meaning greater output at a lower cost. This is possible only through IT. The Internet offers business artificial or virtual space, thus saving the space rent, transportation cost and hence cutting on the cost of the products. An e-commerce system provides real-time data and analytics about products and customers. Exploring how people interact with the site, what products interest them, what they left in their cart and how much was the average purchase. Such valuable statistics allow businesses to make adjustments to meet customer’s needs.
In today’s competitive world a few of the very successful e-businesses includes eBay, Amazon, and Walmart. Subsequently, E-Commerce has benefited everyone making our lives easier, economical, and technology-friendly as a result making it a part of our day to day life activities.
Magento is the first choice of many e-commerce establishments due to its numerous ranges of features and its incredible flexibility. Magento 2.0 has improved scalability and performance helps you grow your business faster.
The platform in Magento 2.0 has made significant advancements as improved performance and scalability over Magento 1 which is the emphasized element of this release. The new architecture, modular code base, modern technology stack, latest methods to customize and build themes, etc. are all steps taken towards this transformation.
Server Side Performance Improvements: Full page caching with the support for glaze as backend along with optimized indexing and or partial indexing is now available bundled in both Magento Community Edition and Enterprise Edition. Whereas in Magento 1, it was specialty only limited to Enterprise Editions.
Other modifications include support for the latest versions of MemCache and Redis, and using job queues for removing blocked operations from order processing and deadlocks from product with non-constant order insertion and deferred stock updates option, and much more.
Magento 2.0’s Enterprise Edition offers merchants the flexibility to utilize multiple masters and or slave databases created on the functional area of the application to aid achieving a giant scale with the platform. Separate databases can be maintained for processes like the product catalog management, checkout, and order management; Order Management System and checkout databases are attuned with MySQL Clusters.
Presently Magento is the leading E-commerce cart offered in the market, with more than 200,000 clients from Small and Medium-Sized Company to huge Enterprise level is using this. Magento is not a standardized solution but as an alternative, it offers customizable levels of functionality based on a business’s specific needs.
Magento is not a proprietary but instead, it is an open-source platform. No proprietary platform can become accustomed as quickly and effectively as open-source to the dynamic demands of the digital world.
We’re technology experts with a passion for bringing concepts to life. By leveraging a unique, consultative process and an agile development approach, we translate business challenges into technology solutions.
- How Machine Learning Help to Cut Costs Spent on Treatment and Care
- How to Choose the Right Type of Mobile App
- How AI/ML is Revolutionizing Medical Device Industry
- Artificial Intelligence in E-commerce: Industry Use Cases
- Experience History and Art in a Whole New Way with AR in Museums
- How Can Healthcare AI Chatbots Benefit Patients?
- App Development Cost in 2022 – A Definitive Guide to Calculate Costs
- Impact of Mobile Apps on Oil and Gas Industry
- Bringing the Power of Artificial Intelligence (AI) to the Internet of Things (IoT)
- How AI is Elevating Rapid Growth in Ambulatory Surgical Centers (ASC)